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Novosadov [1.4K]
3 years ago
7

Crane Corporation's computation of cost of goods sold is:

Business
1 answer:
slava [35]3 years ago
5 0

Answer:

16.64 days

Explanation:

Given the above information, we will calculate the average days to sell inventories with the formula below;

Average days to sell inventories = [Ending inventory / Cost of goods sold] × 100

Ending inventory = $72,000

Cost of goods sold = $432,800

Then, Average days to sell inventories

= [$72,000 / $432,800] × 100

= 16.64 days

Therefore, the average days to sell inventory for Fry are 16.64 days

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Carrie Tune will receive $31,000 for the next 11 years as a payment for a new song she has written. Use Appendix D for an approx
r-ruslan [8.4K]

Answer:

$184,068.70

Explanation:

Given that

Annual payments = $31,000

Discount rate = 12%

Time period = 11 years

The computation of the present value is shown below:

= Annual payments  × PVIFA factor for 11 years at 12%

= $31,000 × 5.9377

= $184,068.70

Simply we multiplied the annual payments with the PVIFA factor so that the present value could arrive

Refer to the PVIFA table

6 0
3 years ago
A stock sells for $12.36 a share and has a required return of 9 percent. Dividends are paid annually and increase at a constant
jenyasd209 [6]

Answer:

$0.72

Explanation:

The computation of the amount of the last dividend paid is shown below:

Market price of a stock = Last dividend × (1 + growth rate) ÷ Required  rate of return - growth rate

$12.36 = Last dividend × ( 1 + 0.03) ÷ 0.09 - 0.03

$12.36 = Last dividend × (1.03) ÷ 0.06

$12.36 × 0.06 = 1.03 × last dividend

$0.7416 = 1.03 × last dividend

So,

last dividend is

= $0.7416 ÷ 1.03

= $0.72

7 0
3 years ago
Stefan Ceramics is in the business of selling ceramic vases. It has two departments - molding and finishing. Molding department
lakkis [162]

Answer:

Explanation:

The journal entry is shown below:

Work in Process-Molding A/c Dr $3,000

     To Accounts Payable Control               $3,000

(Being the purchase and used production is recorded)

The computation of the purchase amount is shown below:

= Number of kgs purchased × price per kg

= 500 kgs × $60

= $3,000

The other information which is given is not considered. Thus, ignored it

6 0
3 years ago
A name, term, symbol, design, or any combination of these that identifies a product and distinguishes it from a competitor’s pro
HACTEHA [7]
If this is a true or false question, then the answer is False. It is not the packaging that determines the product from the competitors but the branding. A brand is an identification of its manufacturing company, it may comprise a name, symbol and/ or design.
7 0
3 years ago
Bricktown Exchange purchases a copyright for $50,000. The copyright has a remaining legal life of 25 years, but only an expected
Fittoniya [83]

Answer:

$40,000

Explanation:

Straight line ammortization expense each year = (Cost of the asset - Salvage value) / useful life

$50,000 / 5 = $10,000

Carrying value = Cost of asset - amortization expense = $50,000 - $10,000 = $40,000

I hope my answer helps you

3 0
3 years ago
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