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Firdavs [7]
3 years ago
8

ELO Corporation purchased a patent for $135,000 on September 1, 2019. It had a useful life of 10 years. On January 1, 2021, ELO

spent $33,000 to successfully defend the patent in a lawsuit. ELO feels that as of that date, the remaining useful life is 5 years. What amount should be reported for patent amortization expense for 2021
Business
1 answer:
LUCKY_DIMON [66]3 years ago
7 0

Answer: $30,000

Explanation:

Amortization from September 1, 2019 - January 1, 2021 :

September 1, - december 31 = 4/12 = 0.333333

(1 + 0.333333) × (135000 × 10) = $18,000

Value left before patent defense :

$(135,000 - 18,000) = $117,000

Amount reported for patent amortization expense 2021:

$(117,000 + 33,000) ÷ 5

$150,000 ÷ 5 = $30,000

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The following labor standards have been established for a particular product: Standard labor-hours per unit of output 9.9 hours
topjm [15]

Answer:

-$30,250 favorable

Explanation:

labor efficiency variance = (standard quantity - actual quantity) x standard labor cost

  • actual quantity = 7,700 hours
  • standard quantity = 9.9 hours x 1,000 units = 9,900
  • standard labor cost = $13.70

labor efficiency variance = (7,700 - 9,900) x $13.70 = -$30,250 favorable variance

the variance is favorable, because less hours were actually used than forecasted

5 0
3 years ago
Finn designs and sells screen-printed t-shirts. He is reviewing sales data from previous years to decide which colors are the mo
GREYUIT [131]

Answer:

Business Analytics

Explanation:

According to my research on different business strategies, I can say that based on the information provided within the question this is an example of Business Analytics. This term refers to the process of investigating past business performance and statistics in order to gain insight and increase sales by creating a new business plan. Which is what Finn is doing by reviewing the previous years sales data.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

8 0
3 years ago
A minor explosion occurs at the chemical processing plant of Clement Inc. In order to study the situation and make recommendatio
Dominik [7]

Answer:

A. Safety engineers

Explanation:

Safety engineers are engineers who combine both health and safety in measures while developing procedures and systems with the aim of safeguarding and protecting people from getting injury and illness in the work place or environment. Their job description involves analyzing reasons for accidents, identifying potential hazards, suggesting procedures that can be taken by personnel in that workplace to protect themselves from harm and also preventing the occurence of accidents by bringing in accident proof systems of operations.

4 0
3 years ago
You are provided the following information:
Mama L [17]

Answer:

Total period costs= $12,500

Explanation:

iving the following information:

Salaries for assembly workers $32,000

Cost of materials $1,400

Lubricants for machines $680

Accountant’s salary $4,600

Factory supervisor’s salary $4,700

Sales commissions $3,200

Period costs are not directly tied to the production process.

Period costs:

Accountant’s salary $4,600

Factory supervisor’s salary $4,700

Sales commissions $3,200

Total period costs= 12,500

8 0
3 years ago
A methodology aimed at reducing the number of defects in a business process
pishuonlain [190]
<span>A methodology aimed at reducing the number of defects in a business process is known as Six Sigma. 
The aim is to reduce these defects to as close to zero defects per million opportunities (DPMO) as possible. 
</span>
3 0
3 years ago
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