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gtnhenbr [62]
2 years ago
13

Ann Jones uses a dry-cleaning machine in her business, and it was partially destroyed by firE. At the time of the fire, the adju

sted basis was $20,000 and its fair market value was $18,000. The adjusted basis after the fire is $10,000 and the fair market value after the casualty is $10,000. How much is the casualty loss
Business
1 answer:
VikaD [51]2 years ago
4 0

Answer:

the casualty loss is $8,000

Explanation:

The computation of the casualty loss is given below:

Lower of

= Adjusted basis or decline in FMV

= $10,000 or ($18,000 - $10,000)

= $10,000 or $8,000

= $8,000

hence, the casualty loss is $8,000

The same would be considered and relevant

The other values would be ignored

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Rodriguez, Inc., is preparing its direct labor budget for 2020 from the following production budget based on a calendar year. Qu
Veseljchak [2.6K]

Answer:

Instructions are below.

Explanation:

Giving the following information:

1st Quarter= 20,400

2nd Quarter= 25,370

3th Quarter= 35,420

4th Quarter= 30,200

Each unit requires 1.8 hours.

Direct labor rate= $18

<u>The direct labor budget is calculated using the total hours required for each quarter, and the direct labor rate.</u>

Q1:

Total hours required= 1.8*20,400= 36,720

Total cost= 18*36,720= $660,960

Q2:

Total hours required= 1.8*25,370= 45,666

Total cost= 18*45,666= $821,998

Q3:

Total hours required= 1.8*35,420= 63,756

Total cost= 18*63,756 = $1,147,608

Q4:

Total hours required= 1.8*30.200= 54,360

Total cost= 18*54,360  = $978,480

8 0
2 years ago
Which of the following of Wegman's motivating factors is an intrinsic motivator?
Delvig [45]

The answer choice which shows the Wegman's motivating factor which is an intrinsic motivator is:

  • a. A sense of pride from meeting customer needs

<h3>What is a motivating factor? </h3>

This refers to the things which makes a person behave in a certain way with the aim of getting a reward.

<h3>What is Intrinsic Motivation? </h3>

This refers to the pleasures gotten from performing a task or doing a certain action which is for fun, rather for external motivation like money or other rewards.

Therefore, we can see that from Wegman's policy, he was able to get intrinsic motivation from meeting the customer's needs which gave him a sense of pride.

Read more about motivation here:

brainly.com/question/6853726

7 0
2 years ago
Calculate the simple interest you would receive in one year on a savings account that earns 5% annual interest. your beginning b
cupoosta [38]
The simple interest formula:
I = P * r * t,
where:
I - interest,
P - investment,
r - interest rate,
t - time ( in years )
P = $255.19,  r = 5% = 0.05,  t = 1
I = $255.19 * 0.05 * 1 = $12.7595 ≈ $12.76
Answer: The simple interest you would receive in 1 year is $12.76.
8 0
3 years ago
Swifty Company reports the following operating results for the month of August: sales $315,000 (units 5,000); variable costs $21
Sloan [31]

Answer:

Net income to be earned =   $58,500

Explanation:

The net income to be earned can determined as follows:

<em>Net income = (sales value - Variable costs) - Fixed costs</em>

With an increase in selling price by 10%, the total sales value would now be

Total sales value = 110% × 315,000 =$346,500

Net income therefore would be

                    = (346,500 - 218,000) - 70,000

                  =   $58,500

Not that the fixed cost will not change because it is independent of volume and also the variable cost has been  stated to remain the same.

4 0
3 years ago
Dumphy and Funke are rival tattoo artists in the small town of Feline. There are no other tattoo artists in town. It costs $30 t
inysia [295]

Answer:

<u>Part a:  What will be the equilabrium price that Dumphy and Funke will charge?</u>

Answer: Price charged = $30

<u>Part b: What are the profits for Dumphy and Funke at the equilibrium price?</u>

Answer: Profit on equilibrium price = $0

<u>Part c: What type of competition would Funke and Dumphy likely engage in after the decrease in demand?</u>

Answer: Price competition

Explanation:

<u>Part a:  What will be the equilabrium price that Dumphy and Funke will charge?</u>

Answer:

Price charged by each of the artists will be equal to their marginal cost.

Thus, equilibrium P = MC = $30.

<u>Part b: What are the profits for Dumphy and Funke at the equilibrium price?</u>

Answer:

Equilibrium profits will be 0 at the equilibrium because price charged is equal to MC, leading to no profits.

<u>Part c: What type of competition would Funke and Dumphy likely engage in after the decrease in demand?</u>

Answer:

Price competition - as changes in price will lead to changes in demand and thus sales

5 0
3 years ago
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