Please answer this question for me

In April 2013, Sparkle Enterprises purchased the Crimson Mine at a cost of $18,000,000. The mine is estimated to contain 500,000

DaniilM [7]

Answer:

The correct answer is B.

Explanation:

Giving the following information:

In April 2013, Sparkle Enterprises purchased the Crimson Mine for $18,000,000. The mine is estimated to contain 500,000 tons of ore with a residual value of $2,000,000 after mining operations are completed. During 2013, 120,000 tons of ore were removed from the mine and sold.

Annual depreciation= [(original cost - salvage value)/useful life of production in units]*units produced

Annual depreciation= (16,000,000/500,000)*120,000= $3,840,000

6 0

3 years ago

MVJ Corp., a market research firm, borrows $2 million from trimitium bank. while negotiating with the bank, the firm signs a pro

atroni [7]

Answer:

Option "2" is the correct answer to the following statement.

Explanation:

A short-term loan is a form of loan received to endorse short term business and personal wealth for a very short period. It is a tempting and temporary option, for most of the short term businesses which are not easily eligible for a loan from a financial institution.

This type of loan mostly paid back in a very short period usually in 12 months.

In this case, MVJ gets a loan for 90 days or 3 months so it is considered a short term loan.

8 0

3 years ago

Operations management is the discipline that manages the day-to-day and tactical activity of the entire value added chain, which

makvit [3.9K]

Answer:

Operations Management:

a) true

Explanation:

Operations management ensures that the organization achieves its objectives by coordinating processes and executing them in the conversion of organizational resources into goods and services which will enable the organization to maximize profits. It is the core of the organizational hierarchy and plays important tactical roles that deliver results. It translates the strategic policies of top management into day-to-day actionable and deliverable processes to meet external needs (customers'), thereby generating income for the owners of the business. Without operations management, a business remains an idea that cannot be implemented.

6 0

3 years ago

The Gotham Corporation regularly produces budget vs. actual data for its managers. The company is particularly sensitive to pers

Rudik [331]

Answer:

Option C Internal Control Information

Explanation:

The reason is that variance analysis is the process through which we emphasize control over costs which is solely management accounting and is not linked to financial reporting so the option B is incorrect. This information is internally generated which means saying that the information is obtained from external sources is totally incorrect. The option a is generally correct because this information is part of internal information. But Option C is more relateable here so the better option is Option C.

6 0

3 years ago

Kubin Company’s relevant range of production is 13,000 to 18,000 units. When it produces and sells 15,500 units, its average cos

Otrada [13]

Answer:

1. $296,050

2. $141,050

3. $330,300

4. $135,300

Explanation:

Given that,

When company produces and sells 15,500 units;

Direct materials = $ 7.40

Direct labor = $ 4.40

Variable manufacturing overhead = $ 1.90

Fixed manufacturing overhead = $ 5.40

Fixed selling expense = $ 3.90

Fixed administrative expense = $ 2.90

Sales commissions = $ 1.40

Variable administrative expense = $ 0.90

1. Total amount of product costs:

= Number of units × (Direct Material Per Unit + Direct Labor Per Unit + Variable Manufacturing Overhead + Fixed Manufacturing Overhead Per Unit)

= 15,500 × ($ 7.40 + $ 4.40 + $ 1.90 + $5.40)

= 15,500 × $19.10

= $296,050

2. Total Amount of Period Costs:

= Number of Units × (Fixed Selling Expense Per Unit + Fixed Administrative Expense Per Unit + Sales Commissions Per Unit + Variable Administrative Expense Per Unit)

= 15,500 × ($ 3.90 + $ 2.90 + $1.40 + $0.90)

= $141,050

3. Total amount of product costs at 18,000 units:

= Direct Material + Direct Labor + Variable Manufacturing Overhead + Fixed Manufacturing Overhead

= (18,000 × 7.40) + (18,000 × 4.40) + (18,000 × 1.90) + (15,500 × 5.40)

= $133,200 + $79,200 + $34,200 + $83,700

= $330,300

4. Total amount of period costs at 13,000 units:

= Fixed Selling Expense + Fixed Administrative Expense + Sales Commissions + Variable Administrative Expense

= (15,500 × $3.90) + (15,500 × $2.90) + (13,000 × $1.40) + (13,000 × $0.90)

= $60,450 + $44,950 + $18,200 + $11,700

= $135,300

4 0

3 years ago