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almond37 [142]
2 years ago
5

The inventory of Bramble Company on December 31, 2020, consists of the following items. Part Quantity Cost per Unit Net Realizab

le Value 110 620 $121.00 $127.00 111 1,080 76.20 66.00 112 540 101.60 97.00 113 220 215.90 228.60 120 440 260.00 264.00 121 a 1,400 20.00 1.00 122 330 304.80 298.00 a Part No. 121 is obsolete and has a realizable value of $1.00 each as scrap. (a) Determine the inventory as of December 31, 2020, by the LCNRV method, applying this method to each item.
Business
1 answer:
Brrunno [24]2 years ago
6 0

Answer:

$462,562

Explanation:

Lower of Cost and Net Realizable Value (LCNRV) records ending inventory at the lowest between purchase costs or net realizable value.

Part         Q             Cost per Unit          Net RV            Total

110        620              <u>$121.00</u>                 $127.00          $75,020

111        1,080             $76.20                  <u>$66.00</u>            $71,280        

112         540             $101.60                  <u>$97.00</u>           $52,380

113         220            <u>$215.90</u>                $228.60           $47,498

120        440           <u>$260.00</u>                $264.00          $114,400

121      1,400              $20.00                     <u>$1.00</u>             $1,400

122       330             $304.80               <u>$298.00</u>         $100,584

Total                                                                             $462,562

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A good change control process will include:
harkovskaia [24]

Answer: A. All of these

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8 0
2 years ago
On January​ 1, 2018, Jordan Company acquired a machine for​ $1,090,000. The estimated useful life of the asset is five years. Re
anyanavicka [17]

Answer:

$206000.

Explanation:

Given: Asset purchase value = \$ 1090000

          Residual value after five years= \$ 60000

          Estimated useful life of asset= five years.

Now, we will calculate depreciation per year using straight line method.

Depreciation= \frac{(purchased\ value\ of\ asset - residual\ value)}{estimated\ useful\ life\ of\ asset}

⇒ Depreciation = \frac{(1090000 - 60000)}{5} = \frac{1030000}{5}

∴ Depreciation expense per year = \$ 20600

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3 years ago
MCO Leather Goods manufactures leather purses. Each purse requires 2 pounds of direct materials at a cost of $4 per pound and 0.
ruslelena [56]

Answer:

Direct Materials Purchases Budget Sept 51680  October  60160              

Direct labor Budget September 54600 October  66150

Overhead Budget Sept  $ 20920  October  $23,230

Explanation:

The budgets are calculated in the following ways.

We multiply the required material , direct labor hour or variable overhead rate with the given number of units and then with the cost per unit to get the total costs.

MCO Leather Goods Manufacturers

Direct Materials

<u>Purchases Budget</u>

                              September      October      November

Production              5200             6300             6100

<u>Pounds per units       *  2                 *2                    *2</u>

<u>Total Pounds           10400           12600           12200</u>

Cost per pound         * $4               * $4                   *$4

<u>Total cost                41600           50400           48800 </u>

On hand

<u>Inventory               + 10080             + 9760                 ---     </u>

Direct Materials

<u>Purchases Budget  51680           60160                     </u>

<u></u>

MCO Leather Goods Manufacturers

Direct Labor Budget

                                       September           October

Production                        5200                   6300

<u>Hours required per unit * 0.7                          *0.7</u>

Total hours                      3640                      4410

<u>Rate per hour                 * $15                           *$15</u>

<u>Total labor Cost            54600                   66150</u>

 

MCO Leather Goods Manufacturers

Factory Overhead Budget

                                       September           October

Production                        5200                   6300

<u>Hours required per unit * 0.7                         * 0.7</u>

Labor Hours                      3640                  4410

<u>Variable OH                      * $3                     *$3        </u>

<u>Variable Costs                 $10920             $13230</u>

<u>Fixed OH                        + $10,000             +$10,000</u>

<u>Total OH                          $ 20920             $23,230</u>

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2 years ago
A $1,000 face value bond can be redeemed early at the issuer's discretion for $1,030,plus any accrued interest.The additional $3
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Answer:

C) call premium

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Least-Squares Regression [LO5-11] [The following information applies to the questions displayed below.] Bargain Rental Car offer
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Answer:

I used an excel spreadsheet to calculate this:

the least squares regression line:

y = a + bx

y = $2,752 + 3.87x

where y = total cash wash costs and x = rental returns

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Download pdf
5 0
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