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Over [174]
3 years ago
8

At the beginning of 2020, Beerbo acquired a mine for $970,000. Of this amount, $100,000 was ascribed to the land value (the rema

ining portion was ascribed to the mine). Surveys conducted by geologists have indicated that approximately 12,000,000 units of ore appear to be in the mine. Beerbo incurred $170,000 of development costs associated with this mine prior to any extraction of minerals. It also determined that the fair value of its obligation to prepare the land for an alternative use (when all of the minerals have been removed) is $40,000. During 2020, 2,500,000 units of ore were extracted and 2,100,000 of these units were sold. What is the amount extracted in 2020
Business
1 answer:
r-ruslan [8.4K]3 years ago
6 0

Answer:

$225,000

Explanation:

Depletion rate = [Mine cost - Land value + Obligation to prepare the land for an alternative + Development cost] / Total number of ore extracted

Depletion rate = [$970,000 - $100,000 + $40,000 + $170,000] / $12,000,000

Depletion rate = $1,080,000/$12,000,000

Depletion rate = $0.09

Amount extracted in 2020 = Unit of ore extracted in 2020 / Depletion rate

Amount extracted in 2020 = 2,500,000 units * $0.09

Amount extracted in 2020 = $225,000

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KonstantinChe [14]

Answer:

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Also 20% of next quarters unit sales also needs to be produced in the second quarter so (0.2*30,000)=6000

Budgeted production in the 2nd quarter= 20,800+6,000=34,000

Explanation:

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3 years ago
Kevin, who has liability limits of $20,000/$40,000/$20,000 and a $500 collision deductible, is involved in an accident. Due to h
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Answer:

Amount to pay by PAP = $39,600

Explanation:

The liability limits of $20,000/$40,000/$20,000 implies that the highest amount PAP will pay for driver's injuries is $20,000, while the highest to pay for the first of two passenger is $40,000 and $20,000 for second passenger.

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4 0
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6 0
2 years ago
All Kiwi Ltd (a New Zealand-based company) has a wholly-owned subsidiary in Malaysia whose manager is being evaluated on the bas
Ulleksa [173]

Answer:

Variance (Unfavorable) (NZD 340,000)

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Budget Variance using exchange rate projected at the time of budget

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Revenue  12000000   11000000    -1000000      0.34            -340000

Expenses  9000000   9000000          0               0.34                  0

Profit        3000000    2000000    -1000000      0.34            -340000

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Answer:

c

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