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Yuki888 [10]
3 years ago
6

Porter Resources Company acquired a tract of land containing an extractable natural resource. Porter is required by its purchase

contract to restore the land to a condition suitable for recreational use after it has extracted the natural resource. Geological surveys estimate that the recoverable reserves will be 2,500,000 tons, and that the land will have a value of $1,000,000 after restoration.
Relevant cost information follows:
Land $7,500,000
Estimated restoration costs 1,500,000
If Porter maintains no inventories of extracted material, what should be the charge to depletion expense per ton of extracted material?

Business
1 answer:
lakkis [162]3 years ago
4 0

Answer:

$3.20

Explanation:

Kindly check attached picture for explanation

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Which statements are true about assessing the effectiveness of a strategic plan?
malfutka [58]
The answer is a manager should search diligently for ways the strategy can be improved
8 0
3 years ago
A static budget is one that shows estimated revenues and costs at multiple activity levels. true or false
maxonik [38]

Answer:

A static budget is one that shows estimated revenues and costs at multiple activity levels.

True

Which of the following is not typically found in a decentralized organization?

Asset center

Explanation:

3 0
3 years ago
Bain Corporation makes and sells state-of-the-art electronics products. One of its segments produces The Math Machine, an inexpe
pochemuha

<u>Solution and Explanation:</u>

<u>Part a: </u>                                                                            

Revenue  5000 multiply 6.6   33000            

Unit Level Variable Cost:        

Material Cost  5000 multiply 2.7   -13500    

Labor Cost  5000 multiply 1.2   -6000    

Manufacturing Cost  5000 multiply 1.2   -6000    

Shipping and Handling  5000 multiply 0.3   -1500    

Sales Commission    0    

Contribution Margin    6000            

Should be accepted as it will increase profitability by $6000          

Part b1&b2:                                 Cost to Make  Cost to Buy          

Material Cost                40000*2.7  108000      

Labor Cost                40000*1.2  48000      

Manufacturing Cost  40000*1.2  48000      

Prod Supervisor Salary             72000      

Purchase Cost  40000*6.72               0  268800          

Total Cost                               276000  268800          

Should purchase from outside as cost is lower than making it      

Part b3:        

                                          Cost to Make  Cost to Buy            

Material Cost  60000 multiply 2.7     162000      

Labor Cost  60000 multiply1.2             72000      

Manufacturing Cost  60000*1.2  72000      

Prod Supervisor Salary             72000        72000    

Purchase Cost  60000*6.72              0           403200            

Total Cost                             378000        475200            

Should make in house as cost is lower            

Part c:  It should not be eliminated.              

Elimination will decrease profitability by $72000 which is being allocated company wide facility exp.  Before Allocation, actual profit is (168000-24000-72000)=$72000    

Loss is because of allocation of facility expenese, which will be allocated on other segment.

 

5 0
3 years ago
Which best describes the barrier to trade known as dumping? Destroying shipments of imports to force consumers into purchasing d
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Answer: Selling exports abroad at a lower price than the domestic price.

Explanation:

Dumping is a practice in international trade where the country exporting, does so at a price that is lower than the domestic price of the good being exported in the importing country.

This allows the country exporting to gain more market share but can also lead to the collapse of the domestic industry thereby allowing for an export based monopoly to form.

An example would be Japan selling electronics in the U.S. at lower rates to capture market share even though those same electronics commanded a higher price in Japan.

7 0
3 years ago
At the end of 2017, Grouper Company has accounts receivable of $916,100 and an allowance for doubtful accounts of $42,400. On Ja
Gennadij [26K]

Answer:

Since the debt has already been provided for by Debiting bad debt expense $42,400 and Crediting Allowance for doubtful debt $42,400, the entries required to write off the debt from Ramirez Company of $6,330 will be

Debit Allowance for doubtful debt $6,330

Credit Accounts receivable $6,330

Being entries to writeoff debt due Ramirez Company of $6,330

Explanation:

When a company makes sales on account, debit accounts receivable and credit sales. Based on assessment, some or all of the receivables may be uncollectible.  

To account for this, debit bad debit expense and credit allowance for doubtful debt. Should the debt become uncollectible (i.e go bad), debit allowance for doubtful debt and credit accounts receivable.

Where a debit that had previously been determined to have gone bad gets settled, debit cash and credit bad debt expense.

8 0
3 years ago
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