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2 years ago

After multiple years of building a business in the same location, Timothy has

1 answer:

6 0

Answer: B. Timothy has been leasing his space, the lease has expired, and the owner of the property does not wish to renew.

Explanation:

A lease refers to a written agreement whereby a lessor leases his property to the lessee for a period of time and the owner of the property gets paid for the period that the property is leased out.

In this case, since Timothy needs to vacate the building where his business has always been after some number of years, it simply means that Timothy leased the space and the owner doesn't want to renew the lease.

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Solution Enterprises incurred $828,000 of fixed overhead during the period. During that same period, the company applied $845,00

Wewaii [24]

Answer:

Budgeted fixed overhead= $787,000

Explanation:

Budget variance = Actual overhead-budgeted overhead

-41000 = 828000-X

X = 787000

So answer is $787000

5 0

2 years ago

Goodman Company's inventory records show the following data: Units 5,000 4,500 3,000 Unit Cost $9.00 8.20 7.00 Inventory, Januar

balu736 [363]

Answer:

A. 3000 units x $7 = $21000

Explanation:

FIFO (First-In-First-Out) is a method of inventory valuation where the stock that is purchased first is used first. In other words, the oldest stock is used first. This is common for perishable items which if not used up fast, will be wasted.

Jan 01 - Beginning inventory : 5000 units x $9 = $45000

Jun 18 - Purchases : 4500 units x $8.20 = $36900

Nov 08 - Purchases : 3000 units x $7 = $21000

Total inventory = 5000 + 4500 + 3000 = 12,500 units

Ending inventory = 3,000 units

Hence, inventory sold = 9,500 units

The cost of goods sold using FIFO:

5000 units x $9 = $45000

4500 units x $8.20 = $36900

COGS = $45000 + $36900 = $81900 (9500 units)

Ending inventory :

3000 units x $7 = $21000 (3000 units)

8 0

2 years ago

What is the best thing to say when somebody knocks on the bathroom door

Semenov [28]

Answer:

Explanation:

6 0

1 year ago

Peters, Chong, and Aaron are dissolving their partnership. Their partnership agreement allocates each partner an equal share of

il63 [147K]

Answer and Explanation:

The journal entry is shown below:

Peter ($174,000 - ($66,000 ÷ 2)) $141,000

Chong ($162,000 - ($66,000 ÷ 2)) $129,000

To Cash $270,000

(Being the distribution should be recorded)

For this the capital accounts are debited as it reduced the stockholder equity and credited the cash as it also decreased the assets

4 0

2 years ago

Suppose that a company needs 1,500,000 items during a year and that preparation for each production run costs $900. Suppose also

bulgar [2K]

Answer:

30,000 units

Explanation:

we can use the economic order quantity formula:

EOQ = √(2SD/H)

where:

S = order cost (per purchase order) ≈ production run cost = $900
D = demand in units (annual basis) ≈ production requirement = 1,500,000 units
H = holding costs (per unit, per year) = $3 per item, per year

EOQ = √[(2 x $900 x 1,500,000) / $3] = 30,000 units

5 0

2 years ago