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Flura [38]
3 years ago
8

Beaverton Lumber purchased a milling machine for $35,000. In addition to the purchase price, Beaverton made the following expend

itures: freight, $1,500; installation, $3,000; testing, $2,000; personal property tax on the machine for the first year, $500. What is the initial cost of the machine?
Business
1 answer:
salantis [7]3 years ago
3 0

Answer:

$41,500

Explanation:

Calculation to determine What was the initial cost of the machine to be capitalized

Purchase price $35,000

Add Freight $1,500

Add Installation $3,000

Add Testing $2,000

Total Cost $41,500

Therefore the initial cost of the machine is $41,500

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Rand Company had May operations as follows. Units actually produced 76,000 Actual direct labor hours worked 160,000 Actual varia
Pavel [41]

Answer:

B. 20,000

Explanation:

Standard Variable overhead rate = $6 per units / 2 direct labour hour

Standard Variable overhead rate = $3 per hour

Variable Overhead Spending Variance = Actual hours worked * (Actual overhead rate - Standard overhead rate)

Variable overhead spending variance = 160,000 * (3.125 -3)

Variable overhead spending variance = 160000*0.875

Variable overhead spending variance = 20,000

4 0
3 years ago
Fred and Barney started a partnership. Fred invested $20,000 in the business and Barney invested $32,000. The partnership agreem
svet-max [94.6K]

Answer:

The amount of income assigned to the two partners would be $18,100 and $19,900 respectively.

Explanation:

For computing the amount of income assigned to the two partners, we have to do the following calculations which are shown below:

1. Dividend amount for each partner:

For Fred = Invested amount × rate of return

              = $20,000 × 15%

              =$3,000

For Barney =  Invested amount × rate of return

                  = $32,000 × 15%

                  = $4,800

The total dividend amount equals to

= Fred dividend + barney dividend

= $3,000 + $4,800

= $7,800

2. Now compute the remaining amount, and divide it in the sharing ratio

So, the remaining amount would be

= Partnership income - total dividend amount

= $38,000 - $7,800

= $30,200

So the Fred income would be = $30,200 × 50% = $15,100

And, the barney income would be = $30,200 × 50% = $15,100

So, the amount of income:

For Fred = Dividend income + remaining income

              = $3,000 + $15,100

              = $18,100

For Barney = Dividend income + remaining income

                   =$4,800 + $15,100

                   = $19,900

Hence, the amount of income assigned to the two partners would be $18,100 and $19,900 respectively.

8 0
3 years ago
8) How can using a credit card affect your credit score in a good way? In a bad way?
gregori [183]

Answer:

Explanation:

Good way: using your credit card and paying off the balance each month and on time can increase your credit score. Also, having a large credit limit affects the credit positively

Bad way: paying your balances late or not at all is bad for your credit.

5 0
3 years ago
What is IKEA trying to achieve in the Global Market?
kirill [66]

Answer:

success and money

Explanation:

 

6 0
3 years ago
The​ ________ budget is a component in a financial budget. A. budgeted income statement B. direct labor C. manufacturing overhea
serg [7]

Answer:

D. capital expenditure

4 0
3 years ago
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