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Artist 52 [7]
3 years ago
6

Cullumber Company incurred $800000 of research and development costs in its laboratory to develop a new product. It spent $15000

0 in legal fees for a patent granted on January 2, 2017. On July 31, 2017, Cullumber paid $62000 for legal fees in a successful defense of the patent. What is the total amount that should be debited to Patents through July 31, 2017
Business
1 answer:
cricket20 [7]3 years ago
4 0

Answer:

$212,000

Explanation:

Calculation to determine the total amount that should be debited to Patents through July 31, 2017

Using this formula

Total amount debited to Patents=Legal fees for patent+Legal fees in a successful defense of patent

Let plug in the formula

Total amount debited to Patents=$150,000+$62,000

Total amount debited to Patents=$212,000

Therefore the total amount that should be debited to Patents through July 31, 2017 is $212,000

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Organizational ______ is the combination of organizational structure, culture, control systems, and human resource management sy
Svetradugi [14.3K]

Organizational architecture is the combination of organizational structure, culture, control systems, and human resource management systems .

<h3>What is Organisational Architecture?</h3>

Organisational Architecture serves as the structure that integrates the human activities and capital resource utilisation within a structure of task allocation.

Therefore, Organisational Architecture helps to determine how efficiently and effectively organizational resources are used.

Learn more about Organisational Architecture at:

brainly.com/question/17320867

7 0
2 years ago
PB4.
harkovskaia [24]

Answer:

The process cost summary is given below.

A-Total Material Cost                  = $22,500

B-Total Conversion costs           = $95,625 (45,625+50,000)

C-Units transferred out              = 40,000

D-Ending Inventory                    = 10,000

E-Equivalent units of material  =  45,000

F-Equivalent units of conversion costs  = 42,500

G-Equivalent cost per unit of material = $0.5 (A/E)

H-Equivalent cost per unit of conversion costs = $ 2.25 (B/F)

I-Equivalent cost per unit = $2.75 (G+H)

J-Cost of inventory transferred = $ 110,000 (I*C)

K-Cost Of Ending Inventory = $ 8,125 (H*(F-C) + (5000*0.5))

4 0
4 years ago
Trade adjustment assistance promotes political support for free-trade agreements by:
Rus_ich [418]

Answer:

option C is the right answer

Explanation:

trade adjustment assistance programme was created to reduce the burden or damaging impart of import felt by some sector of the economy of a nation. and it creates an incentive to reduce trade barriers and export subsidies

4 0
3 years ago
Terry company had january 1 inventory of $100,000 when it adopted dollar-value lifo. during the year, purchases were $600,000 an
inna [77]

Answer:

Terry's Closing Inventory is $131,360.

Terry's Gross profit is $431,360.

We follow these steps to arrive at the answers:

<u>1. Calculate the base value of closing inventory (CI):</u>

CI_{base value} = \frac{CI*Index at base year}{current price index}

CI_{base value} = \frac{143360*100}{112} =  128,000

<u>2. Calculate additions to inventory at base price</u>

Additions to inventory = CI_{base value} - Beginning inventory

Additions to inventory = 128000 - 100000 = 28,000

<u>3. Calculate the value of additions to inventory at current prices</u>

Additions to inventory_{current Value} = Additions to inventory_{base Value} * \frac{current price index}{base price index}

Additions to inventory_{current Value} = 28,000 * \frac{112}{100} = 31,360

<u>4. Calculate the value of Closing inventory</u>

Closing inventory = Beginning Inventory + Additions to inventory_{current Value}

Closing inventory = 100,000 + 31,360 =  131,360

<u>5. Compute Cost of Goods Sold (COGS):</u>

COGS = Opening Inventory + Purchases - Closing Inventory

COGS = (100000 + 600000 - 131360) = 568640

<u>6. Compute Gross profit</u>

Gross profit = Sales - COGS

Gross profit = 1000000 - 568640 = 431360

5 0
3 years ago
Hansel and Gretel decide to organize a partnership. Hansel invests $15,000 cash, and Gretel contributes
Dahasolnce [82]

Answer:

c. Cash....................................................................................... 12,000

Equipment .................................................................... 6,000

Gretel, Capital .......

Explanation:

The journal entry is as follows;

Cash Dr $12,000

Equipment Dr $6,000

      To Gretel capital $18,000

(Being the investment done by gretel is recorded)

Here the cash  and equipment is debited as it increased the assets while on the other hand the capital account is credited as it also increased the shareholder equity

Therefore the option c is correct

4 0
3 years ago
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