The amount that that Azco Autosystems, Inc., can afford to spend on an energy management system is $80,744.
<h3>Present value</h3>
Using this formula
Present Value = A(P/A, 10%, 5)
Where:
A=$21,300
(P/A, 10%, 5)=3.79079
Let plug in the formula
Present Value = 21,300 (P/A, 10%,5)
Present Value = 21,300 (3.79079)
Present Value =80,743.8
Present Value = $80,744 (Approximately)
Inconclusion the amount that that Azco Autosystems, Inc., can afford to spend on an energy management system is $80,744.
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Answer:
Cost of Good Sold Using Fifo $40,570
Ending inventory using Fifo $3,600
Ending inventory Using Specific Identification can not be calculated as the total sales (555) exceeds the available inventory (510)
Explanation:
Answer:
d) 34.17
Explanation:
we must first calculate the total overhead expenses = $120,000 (ordering and receiving) + $297,000 (machine setup) + $1,500,000 (machining) + $1,200,000 (assembly parts) + $300,000 (inspection) = $3,417,000
since overhead is applied based on direct labor hours, then the predetermined overhead rate = total overhead expenses / total direct labor hours = $3,417,000 / 100,000 labor hours = $34.17 per labor hour
Alex, who is single, conducts an activity in 2021 that is appropriately classified as a hobby. The amount of income that Alex must report and the amount of the expenses he is permitted to deduct are:
An activity or business is classified as hobby :
- The owner of the business is not making profit from the business
- When their is no proof as to whether the business owner is making profit
- When the owner does not intend to make profit from the business etc
Based on the given information the revenues or income amount of $18,000 will be the amount that will be reported by Alex as part of the gross income.
While the expenses or property taxed amount of $3,000 is deductible because the deductions are itemized deductions.
Inconclusion Alex, who is single, conducts an activity in 2021 that is appropriately classified as a hobby. The amount of income that Alex must report and the amount of the expenses he is permitted to deduct are:
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Answer:
First find the present value of the lease. Payments are constant and fixed so this is an annuity. As it is to be paid from the beginning, it is an Annuity due.
= Annuity * Present value interest factor of annuity due, 5 years, 7%.
= 37,400 * 4.3872
= $164,081
Date Account Details Debit Credit
Dec. 31, 2019 Lease Receivable $164,081
Cost of goods sold $104,800
Sales $164,081
Inventory $104,800
Date Account Details Debit Credit
Dec. 31, 2019 Cash $37,400
Lease Receivable $37,400
