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Genrish500 [490]
2 years ago
10

Talia’s Tutus bought a new sewing machine for $55,000 that will be depreciated over 5 years using double-declining-balance depre

ciation with a switch to straight-line. Required: a. Find the depreciation charge each year. b. If the sewing machine is sold after 3 years for $25,000, what will be the after-tax proceeds on the sale if the firm’s tax bracket is 35%?
Business
1 answer:
erastova [34]2 years ago
7 0

Answer:

$8,528

Explanation:

A

The double-declining method uses twice the rate of the straight-line depreciation method.

For Talia's tutu, the straight-line method will be 1/5 x 100

=0.2 x 100

=20%

The double-declining method will use 40%

The depreciation schedule for three years will be as follows for 5 years is as follow

<u>Opening balance Depreciation amount new Book value</u>

$55,000   $22,000   $33,000

$33,000    $13,200    $19,800

$19,800    $7,920    $11, 880

$11,880    $4,752    $ 7,128

$7,128    $,2,851.2   $,4,276.8

B.

If the asset is sold after three years.

The Book value after 3 years = $11,880

The machine is sold for $25,000

the gross profits from the machine

= $25,000 - $11,880

=$13,120

the tax rate =35%

=35/100 x $13,120

=0.35 x $13,120

=$4,592

net realized = $13,120 - $4,592

= $8,528

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Ruby Company produces a chair that requires 7 yards of material per unit. The standard price of one yard of material is $14.40.
Usimov [2.4K]

Answer:

See below

Explanation:

a. Price variance

= (Actual price - Standard price) × Actual material

= ($15.12 - $14.40) × 44,600

= $0.72 × 44,600

= $32,112 Unfavourable

b. Quantity variance

= (Actual quantity - Standard quantity) × Standard price

= [44,600 - (6,500 × 7) ] × $14.40

= (44,600 - 45,500) × $14.40

= -900 × $14.40

= $12,960 Favourable

C. Cost variance

= Actual cost - Standard cost

= (44,600 × $15.12) - (7 × 6,500 × $14.40)

= $674,352 - $655,200

= $19,152Unfavourable

7 0
3 years ago
A product has annual demand of 100,000 units. The plant manager wants production to follow a four-hour cycle. Based on the follo
vova2212 [387]

Answer: The options are given below:

A. $18.00

B. $1,036.80

C. $2.00

D. $7.20

E. $64.00

The correct option is D. $7.20

Explanation:

From the question above, we were given:

Annual demand = 100,000 units

Production = 4 hour cycle

d = 400 per day (250 days per year)

p = 4000 units per day

H = $40 per unit per year

Q = 200

We will be using the EPQ or Q formula to calculate the cost setup, thus:

Q = √(2Ds/H) . √(p/(p-d)

200=√(2x400x250s/40 . √(4000/(4000-400)

200=√5,000s . √1.11

By squaring both sides, we have:

40,000=5,550s

s=40,000/5,550

s=7.20

4 0
3 years ago
In today's business environment, companies have to find ways to remain profitable by coping with increased competition and rapid
eimsori [14]

Answer:

<u>Greater</u>

Explanation:

  • However, as the organizations come in different types of divisions of levels in organizations like the First middle and top level of management. thus the managers are classified as hierarchical structures, like a matrix of structure like the horizontal, vertical and diagonal.
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3 years ago
In the space below, please tell us more about yourself. We are interested in hearing about your professional strengths, greatest
Sedaia [141]

Answer:

You introduce the following below:

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4. Your marriage status.

5. Your hobbies.

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6 0
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How are bonds payable usually classified on the balance sheet?
earnstyle [38]

Bonds payable that are <u>long-term obligations</u> are typically recorded on the balance sheet.

<h3><u>How do long-term liabilities work?</u></h3>

Long-term liabilities are debts owed by a business that won't be paid off for at least a year. To give a clearer picture of a company's present liquidity and its capacity to meet its obligations as they come due, the current part of long-term debt is broken out separately from other debt.

Long-term liabilities are also referred to as noncurrent liabilities or long-term debt. The balance sheet's part that may include debentures, loans, deferred tax liabilities, and pension obligations is where long-term liabilities are stated following more immediate liabilities.

Liabilities that are greater than one year in duration or that are not due within the next 12 months are referred to as long-term liabilities. The time it takes a business to convert its inventory into cash is known as its operational cycle.

Learn more about long-term liabilities  with the help of the given link:

brainly.com/question/17283456

#SPJ4

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