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mamaluj [8]
3 years ago
5

The following information pertains to one item of inventory of the Simon Company: Per unit Cost $ 200 Replacement cost 170 Selli

ng price 190 Disposal costs 10 Normal profit margin 30 Using the lower of cost or market method, this item should be valued at:
Business
1 answer:
r-ruslan [8.4K]3 years ago
3 0

Answer:

the item should be valued at $170

Explanation:

The computation of the item that should be valued is shown below:

As we know that the inventory should be valued at lower of cost or market value

= Lower of $200 or $170 or ($190 - ($30 - $10))

= Lower of $200 or $170 or $170

= $170

Hence, the item should be valued at $170

And, the same is to be considered as it is relevant

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Zisk Co. purchases raw materials on account Budgeted purchase amounts are April, $80,000, May, $110,000, and June, $120,000. Pay
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Answer:

A schedule of cash payments for April, May, and June is prepared.

Explanation:

The following image shows the calculation and explanation of the cash payment schedule.

3 0
2 years ago
The Charade Company is preparing its Manufacturing Overhead budget for the fourth quarter of the year. The budgeted variable fac
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Answer:

the total budgeted factory overhead for November is : 2) $110,000.

the budgeted direct labor hours for December must be : 3) 9,000 hours.

total budgeted factory overhead per direct labor hour is : 1) $14.38

Explanation:

To determine the budgeted factory overhead for November, prepare a budgeted factory overhead for November as follows :

<u>November</u>

Budgeted Variable factory overhead ($5.00 × 7,000 hours)  = $35,000

Budgeted Fixed factory overhead                                             = $75,000

Total budgeted factory overhead                                              = $110,000

<u>December</u>

Total Cash Disbursements                                                         = $105,000

Less Budgeted Fixed factory overhead  ($75,000 - $15,000) =  $60,000

Budgeted Variable factory overhead                                        =   $45,000

Therefore, budgeted direct labor hours = $45,000 / $5.00

                                                                  = 9,000 hours.

<u>December</u>

Budgeted Variable factory overhead ($5.00 × 8,000 hours)  = $40,000

Budgeted Fixed factory overhead                                             = $75,000

Total budgeted factory overhead                                              = $115,000

Therefore, total budgeted factory overhead per direct labor hour = $115,000 / 8,000 hours = $14.375

Which is $14.38 (rounded)

                                                               

3 0
3 years ago
Halima wants a Manufacturing career. She wants to be very successful and get paid well. Which career pays the
nordsb [41]

Answer:

D

Explanation:

4 0
3 years ago
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Good X and Good Y are related goods. When the price of Good X rises by 20 percent, the quantity demanded for Good Y falls by 40
ch4aika [34]

Answer:

-2

Explanation:

Good X and Y are related goods

When the price of Good X rises by 20 percent the quantity for Good Y falls by 40 percent

Therefore the cross price elasticity can be calculated as follows

= -40/20

= -2

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4 0
3 years ago
The contractor proposed $x,xxx,xxx for manufacturing labor contemplating the following full time equivalent (FTE) for the three
Lady_Fox [76]

Answer:

$659,277

Explanation:

The computation of the manufacturing labor dollars per year over the three year period of performance is shown below:

For 3 year it is

= 3 × 1,800 hours × $31

= $167,400

For 4.5 years, it is

= 4.5 × 1,800 hours × $31 × 1.025

= $257,377.50

Foe 4 years, it is

= 4 × 1,800 hours × $31 × 1.025 × 1.025

= $254,499.50

So, the manufacturing labor dollars per year is

= $167,400 +  $257,377.50 + $254,499.50

= $659,277

4 0
3 years ago
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