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olga nikolaevna [1]
2 years ago
12

Information related to plant assets, natural resources, and intangible assets at the end of 2022 for Tamarisk, Inc. is as follow

s: buildings $1,140,000, accumulated depreciation—buildings $652,000, goodwill $421,000, coal mine $509,000, and accumulated depletion—coal mine $107,000. Prepare a partial balance sheet of Tamarisk, Inc. for these items.
Business
1 answer:
Studentka2010 [4]2 years ago
8 0

Answer:

Partial balance sheet of Tamarisk, Inc.

<u>Non Current Assets :</u>

Buildings                                                          $1,140,000

Less accumulated depreciation—buildings  ($652,000)  $488,000

Coal mine                                                          $509,000

Less accumulated depletion—coal mine       ($107,000)  $402,000

Goodwill                                                                                $421,000

Total                                                                                      $1,311,000

Explanation:

The Items above are Non- Current Assets. Non Current Assets are resources expected to generate economic benefits for a period exceeding 12 months.

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Erie Company manufactures a mobile fitness device called the Jogging Mate. The company uses standards to control its costs. The
Tom [10]

a. Standard labor-hours is 7920 hours.

b. Standard labor cost allowed is $42,768.

c. The labor spending variance is $1588(U).

d.  The labor rate variance is $1706 and the labor efficiency variance $3294(U).

e.  The variable overhead rate is $5971(U) and efficiency variances for the month $5580(U).

<u>Explanation:</u>

a)Standars hours(SH) allowed to make 19800 jogging mates

=SH per unit \times 19800

=(24/60)*19800

=7920 hours

24/60 has been taken to convert minutes into hours.  

b)Standard Labor Cost (SC) of 19800 jogging mates

=19800 \times SC per unit=19800 \times $2.16\\=$42,768

=$42,768

c)Labour Spending Variance

=Standard Cost - Actual Cost(AC)=$42,768 - $44,356=$1588(U)

=$1588(U)

d)Labor Rate Variance  

=(SR per hour-AR per hour)\timesAH=(5.4-5.2)*8530=$1706(F)

=$1706

Actual Hours(AH) * Actual Rate per hour(AR)= Actual Cost(AC)

8530 \times AR = $44,356

AR = \frac{44356}{8530}\\ \\AR = 5.2

Labor Efficiency Variance

=(SH-AH) \times SR\\=(7920-8530)*$5.4=$3294(U)

=$3294(U)

e) Variable overhead rate variance = Actual hours worked  (Standard overhead rate - Actual overhead rate)

= 8530  (4.5 - 5.20)

= $5971(U)

Actual overhead rate = $44,356 / 8530 = 5.20

Variable overhead efficiency variance = Standard overhead rate   (Standard hours - Actual hours)

= 4.50  (7290 - 8530)

= $5580(U).

8 0
2 years ago
Dallas Company uses a job order costing system. The company's executives estimated that direct labor would be $3,360,000 (240,00
makkiz [27]

Answer:

Estimated manufacturing overhead rate= $6.42 per direct labor hour

Explanation:

Giving the following information:

The company's executives estimated that direct labor would be $3,360,000 (240,000 hours at $14/hour) and that factory overhead would be $1,540,000 for the current period.  

Using direct labor hours as a base, what was the predetermined overhead rate?

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= 1,540,000/240,000= $6.42 per direct labor hour

5 0
3 years ago
A corporation makes an investment of $20,000 that will provide the following cash flows after the corresponding amounts of time:
s344n2d4d5 [400]

A) The company should not invest in the provided project due to the negative NPV of the project.

B) The NPV of the project comes out to be (286).

<h3>What is NPV?</h3>

NPV is an abbreviated form of Net present value and computed by deducting the cash outflows from cash inflows at the present value.

Given values:

Cash flow of year 1: $10,000

Cash flow of year 2: $10,000

Cash flow of year 3: $2,000

Cash outflow (cost of investment) =$20,000

Step-1 Computation of PV of cash inflows of every year:

PV of year 1 = Cash inflow of year 1 / (1+ interest rate)^ 1

                    = $10,000 / (1+0.07) ^ 1

                    = $10,000 X 0.934579

                    = $9,346

PV of year 2 = Cash inflow of year 1 / (1+ interest rate)^ 2

                    = $10,000 / (1+0.07) ^ 2

                    = $10,000 X 0.873438

                    = $8,735

PV of year 3= Cash inflow of year 1 / (1+ interest rate)^ 3

                   = $2,000 / (1+0.07) ^ 2

                    = $2,000 X 0.816297

                    =$1,633

Step-2 Computation of total amount of PV of cash inflows:

\rm\ PV \rm\ of \rm\ cash \rm\ inflows = \rm\ PV \rm\  of \rm\  year \rm\  1 + \rm\  PV \rm\ of \rm\ year \rm\ 2 + \rm\ PV \rm\ of \rm\ year \rm\ 3\\\rm\ PV \rm\ of \rm\ cash \rm\ inflows =\$9,346 + \$8,735 + \$1,633\\\rm\ PV \rm\ of \rm\ cash \rm\ inflows =\$19,714

Step-3 Computation of NPV:

\rm\ NPV=\rm\ PV \rm\ of \rm\ cash \rm\ inflows- \rm\ Cost \rm\ of \rm\ investment\\\rm\ NPV=\$19,714-\$20,000\\\rm\ NPV=\$ (286)

Therefore, the NPV comes out to be a negative amount of 286, and hence, the company should not accept the project.

Learn more about the net present value in the related link:

brainly.com/question/14015430

#SPJ1

5 0
2 years ago
The following per unit cost information is available: direct materials $36, direct labor $24, variable manufacturing overhead $1
oksian1 [2.3K]

Answer:

Mark−up percentage = 18.75%

Explanation:

Total manufacturing cost= Direct material + Direct labor  + Variable overhead + Fixed overhead

= $36 + $24 + $18 + $40

= $118

Hence, the total manufacturing cost is $118.

Total selling cost = Fixed selling cost + Variable selling cost

Total selling cost = $28 + $14

Total selling cost = $42

Hence, the total selling cost is $42

Total cost = Total Manufacturing cost + Total selling cost

Total cost = $118 + $42

Total cost = $160

Mark−up percentage = ROI / Total cost * 100

Mark−up percentage = $30 / $160 * 100

Mark−up percentage = 0.1875 * 100

Mark−up percentage = 18.75%

7 0
3 years ago
Suppose you are a manager at an advertising agency who is eager to utilize Covey's advice about delegation. Today, you need to w
yan [13]

<u>Answer:</u>

<em>Customer administrations</em><em> supervisors interface an organization's imaginative endeavours with publicists' needs, from driving the main gathering on another record to looking into </em><em>news sources for a crusade</em><em>. </em>

<u>Explanation:</u>

They keep up associations with administrators of customer organizations, supervise the office's record group over all orders and create procedures for customers.

So, the customer administrations supervisor is responsible for all parts of the conveyance of work to the customer. Be that as it may, the record head's job goes past only giving a customer what he needs.

8 0
3 years ago
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