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irga5000 [103]
3 years ago
12

high-end whole home electronic systems. The company provides a one-year warranty for all products sold. The company estimates th

at the warranty cost is $310 per unit sold and reported a liability for estimated warranty costs $10.6 million at the beginning of this year. If during the current year, the company sold 59500 units for a total of $324 million and paid warranty claims of $12120000 on current and prior year sales, what amount of liability would the company report on its balance sheet at the end of the current year?
Business
1 answer:
timama [110]3 years ago
7 0

Answer:

$16,925,000

Explanation:

The company estimates that the warranty cost is $310 per units sold

The estimated warranty costs at the beginning of the year is $10,600,000

In the current year, the company sold 59,500 units

The company paid warranty claims of $12120000

Therefore, the amount of liability that should be reported at the end of the current year can be calculated as follows

= 10,600,000+(59,500×310)-$12,120,000

= $10,600,000+18,445,000 -$12,120,000

= $29,045,000-$12,120,000

= $16,925,000

Hence the amount of liability that should be reported on the balance sheet at the end of the current year is $16,925,000

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A mother earned ​$ 18750.00 18750.00 from royalties on her cookbook. She set aside​ 20% of this for a down payment on a new home
BARSIC [14]

Answer:

a) $ 5000, $ 10000 b) $ 5000

Explanation:

The royalties money = $18750

She set aside 20% for new home  which = 0.2 × 18750 = $ 3750

Amount remaining = 18750 - 3750 = $15000

She invested a sum in a bank certificate of deposit

let the amount invested in bank certificate = y

profit from the investment in the bank = 0.04y

second investment amount = 15000 - y

profit of investment = 0.07 ( 15000 - y)

sum of the two profit  = 0.04y + 0.07 (15000 - y) = total profit = $ 900

0.04y + 0.07 (15000 - y) = 900

open the bracket and rearrange the equation

0.04y + 1050 - 0.07y = 900

0.04y - 0.07y = 900 - 1050

-0.03y = -150

divide both side by -0.03

y = -150 / -0.03 = $ 5000

The amount of money invest at 4% is $5000

The amount of money invested at 7% = 15000 - 5000 = $10000

The amount of money invested in CD account = $ 5000

3 0
3 years ago
Moe is an average worker stuck on a team of complacent workers. Nick is an innovator who produces triple the amount of the avera
VLD [36.1K]

Answer:

Wyatt

Explanation:

High outcome interpendence is a concept that encourages cooperation between members on a team. It shows that if a team wins all members will benefit, and if the team fails all members will be adversely affected.

In this scenario Wyatt who is a slacker in the team of Nick will stand to gain more.

In a high outcome interpendence scenario Nick will be forced to improve on the performance of Wyatt in order to meet team objectives.

The other average workers will only gain a little from increased cooperation.

5 0
3 years ago
Lagle Corporation has provided the following information: Cost per Unit Cost per Period Direct materials$5.25 Direct labor$3.90
Vikentia [17]

Answer:

$16,050

Explanation:

The computation of the total amount of the period cost is shown below:

= Sales commission per unit × number of units sold + Fixed selling and administrative expense + Variable administrative expense per unit  × number of units sold

= $1.80 × 4,500 units + $6,600 + $0.30 × 4,500 units

= $8,100 + $6,600 + $1,350

= $16,050

7 0
3 years ago
Corporation has two manufacturing departments--Casting and Customizing. The company used the following data at the beginning of
Pavel [41]

Answer:

Allocated overhead= $37,260

Explanation:

Giving the following information:

Total

Estimated total machine-hours (MHs) 10,000

Estimated total fixed manufacturing overhead cost $38,000

Estimated variable manufacturing overhead cost per machine-hour $4.3

<u>First, we need to calculate the plantwide predetermined overhead rate:</u>

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= (38,000/10,000) + 4.3

Predetermined manufacturing overhead rate= $8.1 per machine-hour

<u>Now, we can allocate overhead to Job G:</u>

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Job G

Casting machine-hours 1,600

Customizing machine-hours  3,000

Allocated overhead= 8.1* (1,600 + 3,000)= $37,260

6 0
3 years ago
Irving spent the day shopping and made the following purchases: Item Cost ($) Novel 8.75 Shirt 21.66 Lunch 9.13 Potted plant 16.
yan [13]

Answer:

The answer is: $151.49

Explanation:

To determine how much money did Irvine have at the beginning of the day we just add all his expenses to his account balance at the end of the day:

= $95.06 + $8.75 (novel) + $21.66 (shirt) + $9.13 (lunch) + $16.89 (potted plant)

= $151.49 was the amount of money Irvine had at the beginning of the day.

8 0
3 years ago
Read 2 more answers
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