All categories

2 years ago

Wilson Animal Feeds has developed the following data to calculate lower of cost or market for its products.

Business

1 answer:

NeX [460]2 years ago

6 0

Answer:

The total reported inventory value is $1,130.

Explanation:

Note: The data given the question are sorted and presented properly as follows:

Selling Price Cost

Large animals:

Cattle $320 $160

Horse 400 400

Small animals:

Cat $360 $320

Dog 120 90

Exotic pets:

Ferret $140 $112

Iguana 70 48

Based on the lower of cost and net realizable value rule, we select the lower and determine the reported inventory value as follows:

Details Value ($) 

Large animals:

Cattle 160

Horse 400

Small animals:

Cat 320

Dog 90

Exotic pets:

Ferret 112

Iguana 48

Total value  1,130 

Therefore, the total reported inventory value is $1,130.

You might be interested in

Help please!

Kitty [74]

Answer: Gemma took a values inventory in her career explorations class. This indicated to Gemma that money and status may mean a lot to her, but she also finds it healthy to maintain a work-life balance. The correct answer is B.

Explanation:

A values inventory is commonly given in school to help a student with their career goals. They are usually given a personality inventory, an aptitude assessment, and an interest inventory.

The values inventory worksheet has two separate sets of questions about life values and work values. On this worksheet, the student must choose from the columns of "must have, would like, and least important."

A few of the life values a student has to choose from are listed below.

1.) Being Healthy as can be.

2.) Having a happy family life

3.) Having a high status and prestige

4.) Having material possessions in life.

A few of the work values a student has to choose from are listed below.

1.) Being a leader at work.

2.) Working as a team member.

3.) Having experiences that are creative.

4.) Having job security.

8 0

3 years ago

The management of Wyoming Corporation is considering the purchase of a new machine costing $375,000. The company's desired rate

Bezzdna [24]

Answer:

Option B is the correct answer,1.05

Explanation:

Present value index can be computed using the below formula:

present value index=present value of cash inflows/initial amount invested

present value of cash inflows=annual net cash flow*present value factor of annuity

annual net cash flow=$93,750

present value factor of annuity=4.212

present value of cash inflows=$93,750*4.212=$394,875.00

initial amount invested is $375,000

present value index=$394,875.00/$375,000 =1.053

The present value index of this project is approximately 1.05,which is the option B in the multiple choices

3 0

3 years ago

An economist will consider the sunk cost of a product line before recommending an improvement to the product. True or false

Lera25 [3.4K]

Answer:

false

Explanation:

8 0

3 years ago

Ruston Company Income Statement January 1 to December 31, 2017 (amounts in thousands) 7,800 1,560 6,240 780 700 500 4,260 70 4,1

uranmaximum [27]

Answer:

The Net Cash Flow is -$4,686,000.

Explanation:

Note: The data in this question are merged. The complete question with the sorted data are therefore provided before answering the question. See the attached pdf file for the complete question with the sorted data.

The explanation of the answers is now provided as follows:

Net Cash Flow can be determined by preparing the cash flow statement as follows:

Ruston company

Cash Flow Statement

For the Year Ended December 31, 2017

Details $’000 $’000

Cash Flows from Operating Activity

Net Income 2,514

Adjustment to net income

Depreciation expense 700

Increase in accounts receivable (600)

Increase in accounts payable 300

Net Cash Flows from Operating Activity 2,914

Cash Flows from Investing Activity

Increase in Gross Property, Plant, & Eq. (8,300)

Net Cash Flows from Investing Activity (8,300)

Cash Flows from Financing Activity

Increase in Long Term Debt 700

Net Cash Flows from Financing Activity 700

Net Cash Flow  (4,686) 

Therefore, the Net Cash Flow is -$4,686,000.

Download pdf

8 0

3 years ago

With the new technology, the opportunity cost of producing a chicken _____ because _____ soybeans must be forgone to produce

dexar [7]

The full question is:

A farm grows soybean and produces chickens. The opportunity cost of producing each of these products increases as more of it is produced.

The farm adopts a new technology which allows it to use fewer resources to produce soybean.

With the new technology, the opportunity cost of producing a chicken _____ because _____ soybeans must be forgone to produce a chicken.

Answer:

increases; more

Explanation:

Opportunity cost is the forgone alternative when a particular line of action is undertaken. For example in the given scenario more production of chicken will lead to loss of soyabean production and vice versa.

So when there is production of more chicken more opportunity cost is incurred because more of soyabean production is forgone in order to produce the chicken.

Economists consider opportunity cost seperately from the actual cost incurred in taking up a particular activity.

8 0

2 years ago