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Ipatiy [6.2K]
3 years ago
11

Marigold Corp. purchased machinery for $1232000 on January 1, 2017. Straight-line depreciation has been recorded based on a $860

00 salvage value and a 5-year useful life. The machinery was sold on May 1, 2021 at a gain of $21500. How much cash did Marigold receive from the sale of the machinery
Business
1 answer:
Elenna [48]3 years ago
4 0

Answer: $260,300

Explanation:

Depreciation per year was = (1,232,000 - 86,000) / 5

= $229,200

In 2021 May 1, 4 years and 4 months would have elapsed. Depreciation would be;

= 229,200  * 4.3333

= $993,200‬

Net book value on date of sale is;

= 1,232,000 - 993,200

= $238,800

If Gain of $21,500 was realized, cash price was;

= 238,800 + 21,500

= $260,300

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(CO 9) The Wiscow Manufacturing Company recorded overhead costs of $14,182 at an activity level of 4,200 machine hours and $8,74
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Answer:

2.86 Q + 2,170 = overhead cost

Explanation:

\left[\begin{array}{ccc}High&4,200&14,182\\Low&2,300&8,748\\Diference&1,900&5,434\\\end{array}\right]

We subtract one activity level from another, the result is telling us that 1,900 units generate 5,434 additional cost

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Fixed Cost   2170

Total Cost 8748

Variable    6578 ( 2,300 x 2.86)

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the cost equation would be:

2.86 Q + 2,170 = overhead cost

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