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Radda [10]
3 years ago
6

Sheffield Corp. owns the following assets: Asset Cost Salvage Estimated Useful Life A $540000 $42000 10 years B 201000 23500 5 y

ears C 490000 22000 12 years What is the composite life of Sheffield's assets?
Business
1 answer:
rusak2 [61]3 years ago
4 0

Answer:

The composite life is 9.19.

Explanation:

Below is the calculation for composite life of assets:

Composite life = Total Depreciable Cost ÷ Total Annual Depreciation

Composite life = 1143500 ÷ 124300

Composite life = 9.19

The composite life is 9.19.

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Calfee Corporation is a manufacturer that uses job-order costing. The company has supplied the following data for the just compl
AlladinOne [14]

Answer:

$200,000

Explanation:

The computation of the ending balance in the work in process inventory account is shown below:

But before that determined the overhead rate per direct labor

Manufacturing OH estimated   $595,000  

Divide by DLH estimated 35000  

OH rate per DLH    $17  

Now

Beginning Inventory of WIP   $19,000  

Current manufacturing cost    

material                  $420,000  

Labour                   $641,000  

Manufacturing OH (33,000 × $17) $561000  

Total Manufacturing cost      $1,622,000  

Total cost of WIP       $1,641,000  

Less: Cost of goods manufactured $1,441,000  

Ending inventory of WIP        $200,000

8 0
3 years ago
Charles wants to work for himself in the Transportation and Logistics career cluster. Which lists the jobs with the
FinnZ [79.3K]
The second one is the best chance to be self employed at because logisticians require a degree and there is less call for them.
6 0
3 years ago
A small monopoly manufacturer of widgets has a constant marginal cost of ​$2020. The demand for this​ firm's widgets is Upper Q
mixas84 [53]

Answer: $903.13

Explanation:

The marginal cost should be $20 and not $2020

Given the following;

Marginal cost = $20

Q = 105 - 1P

Therefore ;

P = 105 - Q

Total revenue (TR) = Price(P) * Quantity(Q)

TR = (105 -Q)Q

Marginal revenue= 105 - 2Q

For optimal Monopoly;

MR = MC

105 - 2Q = 20

2Q = 105 - 20

Q = 85 ÷ 2

Q = 42.5

Therefore,

P = 105 - Q

P = 105 - 42.5 = 62.5

Social cost = area of triangle

Social cost = 0.5 * 42.5 * 42.5 =903.125

Social cost= $903.13

7 0
3 years ago
Stahl Consulting started the year with total assets of $20,000 and total liabilities of $5,000. During the year, the business re
Andrej [43]

Answer:

D. $4,000.

The Stockholders' equity increase by two items, one is the issued stock of $3,000 that increase equity and cash in assets part, and the result before dividends of $1,000 that increase retained earnings in the equity part and cash in the assets part.

The Net income of the year was $6,000 but were paid in dividends -$5,000, so the retained earnings is $1,000

Explanation:

                                    START END

TOTAL ASSETS        $20,000   $24,000  

TOTAL LIABILITIES       $5,000   $5,000  

Common Stock                           $3,000  

Retained Earnings                   $1,000  

Capital                      $15,000   $15,000

TOTAL EQUITY      $15,000   $19,000

Income Statement  

Sales  $16,000  

Cost of goods sold -$10,000  

Gross Profit  $6,000  

Dividends -$5,000  

                  $1,000  

3 0
3 years ago
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