1. (make sure you know what date to use) On August 4, 2020, William purchased a new office building for $3,600,000. On October 2, 2020, he began to rent out office space in the building. On July 23, 2024, he sold the office building. Determine the cost recovery deduction for 2020. Determine the cost recovery deduction for 2024.
Answers
Answer:
Date of assets placed in service is used as starting date for depreciation calculation. The office property is ready to use on August 4, 2020
The building is a non-residential property, so MACRS table for the type of property will be used
Depreciation Base $3,600,000
Cost recovery rate per table 0.963%
Cost recovery deduction for 2020 $34,668
Depreciation Base $3,600,000
Cost recovery rate per table 2.564%
Cost recovery deduction for 2020 $49,998
Related Questions
Which of the following is filling the role of a consumer?
Answers
The following is filling the role of a consumer - A consumer is some-one who buys things, like at a super-market. Lets say someone purc-hased ice cream, they are a consumer.
What is the role of a consumer?A consumer also is call-ed the end user. The consumer is the one who pays some-thing to consume goods and ser-vices produced. As such, con-sumers play a vital role in the econ-omic system of a nation.
Without consumer dem-and, producers would lack one of the key motiv-ations to produce: to sell to consumers. Consumer is the per-son who uses the product and/or service.
Complete question -
Which of the following is filling the role of a consumer?
A. A consumer is some-one who buys things, like at a super-market.
B. Courtney orders chicken for her company picnic
C. Mario plays a computer game with his sister
D. Latoya buys software for her business start up
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2. How would each of the following affect the demand for money ? a a tax on bonds held by individuals b . a forecast by the Central bank that interest rates will rise sharply in the next quarter
Answers
Which two careers would have a stage as a workplace? A/V technology and the performing arts the visual arts and telecommunications journalism and printing technology the performing arts and telecommunications
Answers
Answer:
A/V and performing arts hope this helps
Explanation:
A/V technology and the performing arts careers would have a stage as a workplace.
What are performing arts?The performing arts include disciplines like music, dance, and theater that are presented live for a crowd. They are distinct from the visual arts, which include the creation of tangible or static works of art using paint, canvas, or other materials.
Theater, music, and dance are just a few of the many artistic forms that are presented live in front of an audience as performing arts.
All human cultures include theater, music, dance, object manipulation, and other forms of performance.
While circus abilities have a longer history, dating at least to Ancient Egypt, music and dance have their roots in prehistoric periods. Professional performances of many performing arts are common.
Performances can take place outdoors on stages at festivals or in specially constructed structures like theaters and opera houses.
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Question 3 a. In choosing a supplier of raw materials for operations, there are a number of factors that need to be considered. Mention any three (3) of such factors.
Answers
When choosing a supplier of raw materials for operations, it's important to consider a variety of factors to ensure that you're making the best decision for your business. The factors are Quality, Price, Delivery time and reliability.
Below are three of such factors to consider:
1. Quality: The quality of the raw materials is a vital factor that you should consider when selecting a supplier. The quality of the raw materials will influence the quality of the finished goods produced. As a result, you'll need to ensure that the supplier you choose provides consistent, high-quality raw materials that meet your specifications.2. Price: Cost is an important factor to consider when selecting a supplier. You should ensure that the supplier is providing you with high-quality raw materials at a reasonable cost. It's also important to note that the cheapest supplier may not always be the best option, as quality may be compromised.3. Delivery time and reliability: It's critical to consider the delivery time and reliability of the supplier. The supplier should be able to deliver the raw materials on time and as agreed upon. Delayed deliveries can disrupt your operations, and if they occur frequently, they can damage your business reputation. Reliability is also important to ensure consistent supply and avoid running out of raw materials.For more such questions on supplier
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eBook
Print Item
?
Tax Drill - Defined Contribution Keogh
Zack, a sole proprietor, has earned income of $85,000 in 2019 (after the deduction for one-half of self-
employment tax).
The maximum contribution Zack may make to a defined contribution Keogh plan is $
What i
Answers
Zack's maximum amount is $53,000 and the following can be defined in additional calculations:
Only owners, partnerships, and LLCs are given a Keogh pension plan and a flexible pension plan.For 2015, the maximum contribution for Keogh's plan is $53,000.In this question, Zack is the lone owner. It is therefore eligible for the Keogh plan and has a $53,000 maximum contribution.Note:
This issue was based on the year 2015 when year changes also change.
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Goodies (Pty) Ltd is a retailer of children's toys. The Management Accountant created the sales budgets for the last four months of the financial year ended December 2023. The budget is presented below: Month Cash Sales Credit Sales Total Sales September R 60 000 450 000 510 000 October R 50 000 500 000 550 000 November R 70 000 420 000 490 000 December R 30 000 510 000 540 000 Additional information: Collections regarding credit sales are as follows: . 50% in the month of the sale and is therefore subject to a 4% settlement discount. 25% one month after the month of sale. 20% two months after the month of the sale and the remainder (5%) is uncollectable. Goodies (Pty) Ltd's inventory requirements are 25% of the next month's total budgeted sales amount. Inventory is purchased in the month preceding its expected sale. All inventory purchases are made on credit. The suppliers' terms of payment require that 40% be paid in the month of purchase and the balance (60%) be paid in the month after the month of purchase. Direct wages amount to R15 000 per month. Wages are all paid in cash as they occur. January 2024 sales are expected to comprise of R550 000 credits sales and R30 000 cash sales. The bank is expected to be in an overdraft of R42 000 on 31 October 2023. Selling, distribution, and administrative costs are expected to be 50% of the monthly total sales and include depreciation of R25 000 per month.
prepare a cash budget for Goodies (Pty) Ltd for the months of November 2023 and December 2023.
show all workings
Answers
Based on the cash budget, Goodies (Pty) Ltd is expected to have a bank overdraft of R105 000 at the end of November, which will increase to R241 000 at the end of December.
To prepare the cash budget for Goodies (Pty) Ltd for the months of November and December 2023, we need to take into account the following information:
Sales (cash and credit) for each month
Collections from credit sales
Purchases of inventory
Payments for inventory purchases
Direct wages
Selling, distribution, and administrative costs
Depreciation
Bank overdraft
Using this information, we can prepare the cash budget as follows:
Goodies (Pty) Ltd
Cash Budget for November and December 2023
November December
Cash receipts:
Cash sales R 70 000 R 30 000
Collections from credit sales:
Month of sale R 225 000 R 255 000
1 month after sale R 105 000 R 84 000
Total cash receipts R 400 000 R 369 000
Cash disbursements:
Inventory purchases R 137 500 R 137 500
Direct wages R 15 000 R 15 000
Selling, distribution, and administrative costs R 245 000 R 270 000
Payments for inventory purchases:
Month of purchase R 55 000 R 82 500
1 month after purchase R 82 500 R -
Total cash disbursements R 535 000 R 505 000
Net cash flow (R 135 000) (R 136 000)
Opening bank balance R 30 000 R (105 000)
Closing bank balance R (105 000) R (241 000)
Bank overdraft R (105 000) R (241 000)
Workings:
Collections from credit sales:
Month of sale: 50% of credit sales = (50% x R450 000) + (50% x R420 000) = R435 000
4% settlement discount: 4% x R450 000 = R18 000
Total collections from credit sales in November: R435 000 - R18 000 = R417 000
Total collections from credit sales in December: R420 000 x 50% = R210 000
Purchases of inventory:
December inventory required: 25% x R550 000 = R137 500
Payments for inventory purchases:
November purchases: 40% x R137 500 = R55 000
December purchases: 60% x R137 500 = R82 500
Selling, distribution, and administrative costs:
November: 50% x R490 000 = R245 000
December: 50% x R540 000 = R270 000
Net cash flow:
November: Total cash receipts - Total cash disbursements = R400 000 - R535 000 = (R135 000)
December: Total cash receipts - Total cash disbursements = R369 000 - R505 000 = (R136 000)
Based on the cash budget, Goodies (Pty) Ltd is expected to have a bank overdraft of R105 000 at the end of November, which will increase to R241 000 at the end of December.
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Which part of the citation below refers to the publisher?
“Projections Overview.” Occupational Outlook Handbook. Bureau of Labor Statistics, 29 March 2012. Web. 1 May 2013.
a)Bureau of Labor Statistics
b)Occupational Outlook Handbook
c)Projections Overview
d)Web
Answers
Answer:
A
Explanation:
the bureau of labor statistics is the company publishing the book, the occupational outlook handbook is what they published, projection overview is the specific chapter or part of the handbook. and web is just stating what form the citation is in
Bureau of Labor Statistics of the citation below refers to the publisher. “Projections Overview.” Occupational Outlook Handbook. Bureau of Labor Statistics, 29 March 2012. Web. 1 May 2013. The correct option is a.
What is the Bureau of Labor Statistics?The U.S. Bureau of Labor Statistics gathers, examines, and disseminates trustworthy data on a variety of aspects of our economy and society. We track changes in employment, pay, worker security, output, and prices.
The Bureau of Labor Statistics (BLS) is a United States government agency that collects, analyzes, and disseminates statistical data on the American labor market and economy. The BLS is responsible for producing a wide range of economic and employment data, including the monthly Employment Situation Report, which provides the latest information on employment, unemployment, and wages in the United States.
Other key data produced by the BLS include the Consumer Price Index (CPI), which tracks changes in the prices of goods and services over time, and the Producer Price Index (PPI), which measures changes in the prices of goods and services purchased by businesses.
Thus, the ideal selection is option a.
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Ike invests $7,660 in an account paying 7.27% simple interest annually. How much interest has Ike gained after four years?
Answers
$2,227.53
find three examples of managers
you would describe as master managers. Write a paper describing these individuals
as managers and why you think they deserve this title.
ms
Answers
Answer:
All managers must be comfortable with three main types of activities or roles. To do their jobs, managers assume these different roles. No manager stays in any one role all of the time, but shifts back and forth. These roles are leadership (or interpersonal), informational, and decision making.
Explanation:
Hope it helps kahit na ndi ko na sagot ung main question.
The three examples of managers that we would describe as master managers are advertisement manager, accounting manager and analytics manager. The roles of managers are leadership, informational, and decision making.
What is an information?An information refers to something that has the power to inform. At the most fundamental level information pertains to the interpretation of that which may be sensed.
The digital signals and other data use discrete signs or alogrithms to convey information, other phenomena and artifacts such as analog signals, poems, pictures, music or other sounds, and the electrical currents convey information in a more continuous form.
Information is not knowledge itself, but its interpretation is important. An Information can be in a raw form or in an structured form as data. The information available through a collection of data may be derived by analysis by expert analysts in their domain.
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The overall cost of your credit (loan) depends on
Answers
Can independence in fact or independence in appearance stand alone?
Answers
Independence in fact is the foundation that gives substance and meaning to a person's independence, while independence in appearance focuses on the external projection of independence
Distinction between independence in fact and independence in appearanceIndependence in fact: This refers to a person's actual ability to make decisions, take action, and manage their own affairs without relying heavily on others.
Independence in appearance: This pertains to how independent a person appears or is perceived by others. It focuses on the external manifestations
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Listed below are selected transactions of Schultz Department Store for the current year ending December 31.
1. On December 5, the store received a deposit from the Selig Players to be returned after certain furniture to be used in stage production was returned on January 15. $ 500
2. During December, cash sales were received, which include the 5% sales tax that must be remitted to the state by the fifteenth day of the following month. $ 798,000
3. On December 10, the store purchased for cash three delivery trucks. The trucks were purchased in a state that applies a 5% sales tax. $ 120,000
4. The store sold 25 gift cards for $100 per card. At year-end, 20 of the gift
cards are redeemed. Schultz expects three of the cards to expire unused.
Number of gift cards sold 25
Value of each gift card $ 100
Number of cards unredeemed at year-end 20
Number of cards expected to expire unused 3
Instructions
Prepare all the journal entries necessary to record the transactions noted above as they occurred and any adjusting entries relative to the transactions that would be required to present fair financial statements at December 31. Date each entry. For simplicity, assume that adjusting entries are recorded only once a year on December 31.
NOTE: Enter a formula, a cell reference, or a value (if you are unable to reference a cell), into the yellow shaded input cells.
Debit Credit
1. Dec.5
2. Dec. 1 - 31
3. Dec. 10
4. Dec. 31
Dec. 31
Answers
The journal entry of Department Store for the current year ending December 31 is given below:
What are journal entries?Journal entries are the entries made to document the transactions carried out by the company. The books of accounts have a record of every dollar that comes in and goes out. The transactions that are documented are in the book of accounts and are examined and audited for surplus payments or deficits, which are the most frequent errors to be discovered over recording, after they have been made. Below are the diary entries related to the context that are attached.
Date Particular Amount (Dr) Amount(Cr)
1 Dec 2005 cash 500 500 2 Dec 31 cash 798,000
Sales 760,000
Sales Taxes Payable 38,000
(Being sales recorded)
3. Dec 10 Delivery Truck 126,000
cash 126,000 4. Dec 31 cash 126000
Sales 2500
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Which type of market structure has many small firms that spend money in order to differentiate their products through advertising
Answers
Answer:
c. Monopolistic Competition
Explanation:
Multiple Options "a. Monopoly b. Oligopoly c. Monopolistic competition d. Perfect competition"
Monopolistic Competition is the type of market structure that has many small firms that spend money in order to differentiate their products through advertising. Here, the products are differentiated and the buyers are made aware of these differences through advertising and promotion. These costs represent a significant part of the total cost under monopolistic competition.
Answer:
Monopolistic competition
you are a euro-based portfolio manager and you have invested in the technology sector of the U.S. stock market. You want to keep your exposure to tech stocks but are worried about an impending financial crisis in the United States. What is the best way to manage your dollar currency risk
Answers
Answer: You enter into Euro/USD forward contract.
Explanation:
Based on the information given in the question, the best way to manage the dollar currency risk is to enter into Euro/USD forward contract.
A forward contract is a contract between two parties whereby an asset is being bought it sold at a particular price in the future. It should be noted that forward contract is good for speculations.
Why are marketers sometimes "forced” to reposition their products or services? Il
your answers with examples.
Iar
Answers
Explaination
Marketers sometimes forced to reposition their services or products to ensure profitability the company has no other option but to reposition its services or products that would cater to a new target segment of their existing market and ensure sales or profitability.
ReasonThere could be many reasons for marketers repositioning their products.
The products are evolving and getting more features into it. They needs to marketed differently in order to make the customers aware of the new features, add-ons. In this case, it is better to reposition the products.
What is the relationship between price and demand for your product?
Answers
Answer:
the price is high when the demand is high and low when the demand is low
A _____________ statement should based on the criteria of completeness, accuracy and clarity
Answers
Answer:
Assertive sentence. Explanation: A sentence which provides a full meaning with clarity is called assertive sentence
Explanation:
HOPE THIS HELPS
What are the potential benefits of using LED lights over conventional lights and what are the best brands to buy from?
Answers
Answer:
LED lights can help you enhance your gaming or movie-watching setup, decorate your countertops, or just give any room in your home a new aesthetic. Led can also help with monthly expenses. They are eco friendly and consume less power
A very reliable and trusted brand, Philips can be found in most eco friendly homes.
A coffee manufacturer is interested in whether the mean daily consumption of regular-coffee drinkers is less than that of decaffeinated-coffee drinkers. A random sample of 50 regular-coffee drinkers showed a mean of 4.35 cups per day. A sample of 40 decaffeinated-coffee drinkers showed a mean of 5.12 cups per day. Assume the population standard deviation for those drinking regular coffee is 1.20 cups per day and 1.36 cups per day for those drinking decaffeinated coffee. Perform an appropriate test at the 1% level of significance. Use the critical value approach.Compute the p-value.
Answers
Answer:
The P-Value ≅0 (zero).
Explanation:
From the given data we have
Regular coffee drinkers sample size = n1 = 50
Decaffeinated-coffee drinkers sample size = n2= 40
Regular coffee drinkers sample mean= x1 = 4.35
Decaffeinated-coffee drinkers sample mean = x2= 5.12
Regular coffee drinkers population standard deviation = σ1 = 1.2
Decaffeinated-coffee drinkers population standard deviation = σ2= 1.36
1) Formulate null and alternate hypothesis
H0: u1≥ u2 Ha: u1 < u2
The null hypothesis is that the mean of the regular coffee drinkers is greater or equal to the mean of decaffeinated-coffee drinkers
against the claim
the mean daily consumption of regular-coffee drinkers is less than that of decaffeinated-coffee drinkers.
2) The test statistic is
z= x1-x2/ sqrt( σ1 ²/n1 + σ2²/n2)
Putting the values
z = 4.35- 5.12/ sqrt( 1.44/50 + 1.8496/40)
z= -5.44
3) The significance level is 0.01
The critical region is Z < -2.33
4) Since the calculated value of z= -5.44 is less than the z ∝= -2.33 we reject H0.
5) the P-value can be calculated using the calculator.
The P-Value is < 0.00001.
P= 0
Which means that the claim is accepted that the mean of the regular coffee drinkers is less than the mean of decaffeinated-coffee drinkers.
Explain the technique to make change in counter transactions correctly.
Answers
Answer:
The correct ways to prepare a customer's change over the counter are:
Explanation:
1. In the cash drawer, store each denomination together in a section
2. As you receive cash, straighten them out and arrange them uniformly. Let every bill be faced in the same direction.
3. Deduct the total price of goods bought from the total amount handed to you by the customer.
4. The result from the above calculation is the customer's change.
5. Peek into the cash drawer and neatly pick out the notes or bills that make up this amount.
6. Carefully replace the shifted bills or coins in the drawer.
7. Place your hands on the desk or in sight of the customer and count the change for them to see.
8. Hand it over to the customer!
On July 1 of year 1, Riverside Corp. (RC), a calendar-year taxpayer, acquired the assets of another business in a taxable acquisition. When the purchase price was allocated to the assets purchased, RC determined it had purchased $1,200,000 of goodwill for both book and tax purposes. At the end of year 1, RC determined that the goodwill had not been impaired during the year. In year 2, however, RC concluded that $200,000 of the goodwill had been impaired, and they required RC to write down the goodwill by $200,000 for book purposes.a) What book-tax difference associated with its goodwill should RC report in year 1? Is it favorable or unfavorable? Is it permanent or temporary?b) What book-tax difference associated with its goodwill should RC report in year 2? Is it favorable or unfavorable? Is it permanent or temporary?
Answers
Answer:
a) What book-tax difference associated with its goodwill should RC report in year 1? Is it favorable or unfavorable? Is it permanent or temporary?
Following the IRS's rules, goodwill must be amortized over a 15 year period: $1,200,000 / 180 months = $6,666.67 per month
since no goodwill was impaired during year 1, then the book-tax difference = $6,666.67 x 6 = $40,000 favorable temporary difference. For tax purposes, goodwill was amortized by $40,000, but it wasn't impaired in the books.
b) What book-tax difference associated with its goodwill should RC report in year 2? Is it favorable or unfavorable? Is it permanent or temporary?
Again, goodwill amortization per year = $6,666.67 x 12 = $80,000 for tax purposes. Since an impairment of $200,000 was made for book purposes, then the difference = $80,000 - $200,000 = -$120,000 unfavorable temporary book-tax difference.
Elliptical Consulting is a consulting firm owned and operated by
Jayson Neese. The following end-of-period spreadsheet was
prepared for the year ended June 30, 2019.
Based on the spreadsheet below, prepare an income statement,
statement of owner's equity, and balance sheet for Elliptical
Consulting.
Please submit your completed assignment in Blackboard.
F
G
A
1
2
3
4
5
6 Account Title
B. Tc D
E
Elliptical Consulting
End-of-Period Spreadsheet
For the Year Ended June 30, 2019
Unadjusted
Trial Balance Adjustments
Dr. Cr. Dr. Cr.
Adjusted
Trial Balance
Dr. Cr.
27,000
53,500
3,000
30,500
8 Cash
9 Accounts Receivable
10 Supplies
11 Office Equipment
12 Accumulated Depreciation
13 Accounts Payable
14 Salaries Payable
15 Jayson Neese, Capital
16 Jayson Neese, Drawing
17 Fees Earned
18 Salary Expense
19 Supplies Expense
20 Depreciation Expense
21 Miscellaneous Expense
22
23
27,000
53,500
(a) 2,100
900
30,500
4,500
(b) 1,500
6,000
3,300
3,300
(C) 375
375
82,200
82,200
2,000
60,000
60,000
(c) 375
32,375
(a) 2,100
2,100
(b) 1,500
1,500
2,000
150,000 3,975 3,975 151,875 151,875
2,000
32,000
2,000
150,000
Answers
Answer:
Please submit your completed assignment in Blackboard.
Explanation:
plants are in threatened state and getting rare. Discuss in the class and prepare a list of causes of rareness of animals and plants. 5.3.1 Rare Animals
Answers
A group of creatures that are extremely rare, scarce, or infrequently encountered is referred to as a rare species.
Even though extinctions happen naturally, the pace of plant and animal extinctions today is substantially higher than it was previously. The main factor contributing to greater extinction rates is habitat loss.
The introduction of harmful nonnative species, pollution, disease transmission, and habitat changes are some additional causes. Overexploitation of wildlife for commercial gain is another. Species that are in risk of going extinct include those plants and animals that have become so scarce.
Animals and plants that are threatened with extinction across all or a sizable portion of their range are those that are very likely to do so in the near future. The most species are in danger from overuse of natural resources, such as overfishing, overhunting, and deforestation of forests. The extension of land for agriculture, cattle, wood, and aquaculture is another significant industry in the world.
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Question 3 of 10
What is an advertising campaign?
A. A method of finding customers according to particular
characteristics
B. A set of games customers receive for free when they buy certain
products
C. An electronic device that enables customers to interact with an
advertisement
D. A series of product-related activities designed to get the attention
of customers
Answers
An advertising campaign is a series of product-related activities designed to get the attention of customers. Option D
What is an advertising campaign?An advertising campaign is a series of product-related activities designed to get the attention of customers. It involves the creation and dissemination of advertising messages through various channels such as TV, radio, print, online and social media, with the goal of promoting a product, service or brand to a specific target audience.
The campaign typically has a specific objective and a set budget and may run for a defined period of time.
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Which of the following was not one of the types of entrepreneurs theorized by Arthur cole in the 1950s. The innovator, the calculating inventor, the organization builder, the lucky fool
Answers
Answer:
the answer is 'the lucky fool'
Explanation:
in order to examine the relationship between the selling price of a used car and its age, an analyst uses data from 20 recent transactions and estimates price
Answers
So that it will study the connection between the promoting charge of a used car and its age, an analyst uses statistics from 20 recent transactions and estimates fee = β0 + β1Age + ε. A portion of the regression effects is shown in the accompanying table. [You may find it useful to reference the t table.]
Coefficients StandardError t Stat p-value
Intercept 21,228.95 738.41 28.750 1.70E-16
Age −1,206.23 129.97 2.78E-08
a.Specify the competing hypotheses so that you can determine whether or not the promoting price of a used automobile and its age are linearly associated.
multiple choice 1
H0: β1 ≥ 0; HA: β1 < 0H0: β1 = 0; HA: β1 ≠ 0H0: β1 ≤ 0; HA: β1 > 0selling price:-We enjoy distinctive conditions every day when we want to calculate or evaluate matters. specifically, situations involving the sale or buying of products. The selling price is used to promote the object at a sure value and may be calculated by the usage of the promoting fee formulation. the amount that the client pays to shop for the product is known as the selling charge. The actual promoting rate is the charge the client pays to buy a product or service.
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At December 31, Folgeys Coffee Company reports the following results for its calendar year. Cash sales $ 914,000 Credit sales 314,000 Its year-end unadjusted trial balance includes the following items. Accounts receivable $ 139,000 debit Allowance for doubtful accounts 6,400 debit Prepare the adjusting entry to record bad debts expense assuming uncollectibles are estimated to be (1) 5% of credit sales, (2) 3% of total sales and (3) 8% of year-end accounts receivable.
Answers
Answer:
a.
Date Account Title Debit Credit
Dec, 31 Bad debt expense $15,700
Allowance for doubtful expense account $15,700
Working
= 5% * 314,000
= $15,700
b.
Date Account Title Debit Credit
Dec, 31 Bad debt expense $36,840
Allowance for doubtful expense account $36,840
Working
= 3% * (Cash sales + Credit sales)
= 3% * (914,000 + 314,000)
= $36,840
c.
Date Account Title Debit Credit
Dec, 31 Bad debt expense $17,520
Allowance for doubtful expense account $17,520
Working
= (8% * Year end accounts receivable) + Debit balance for Allowance for doubtful account
= (8% * 139,000) + 6,400
= $17,520
Zook Manufacturing's total six-month sales were $85 million, with $25.5
million of that amount from the Internet. What was the percentage of
Internet sales?
Answers
Explanation:
85 ÷ 25.5 = 0.3
0.3 × 100 = 30%
HELP PLSSS HALP
How many tears would it take to fill up a pool? Explain.
Answers
Answer: Lets say 2 tear drops equals a teaspoon, And 3 teaspoons equals a tablespoon and 2 tablespoons equals a fluid ounce and 32 ounces equal a quart and 4 quarts equal a gallon and lets say the pool is 10 gallons It would take about 768000 tears to fill a ten gallon pool. Not gonna lie not even i'm depression enough for that.
Question 6
(6 Marks)
Entity Z is trying to obtain a cost estimate for the costs of repairs. The following monthly repair costs
have been recorded for the past six months.
Plack Company is a manufacturing company that makes and sells a single product. The following
information relates to the company's manufacturing operations in the next financial year.
->
Opening and closing stock:
Production:-
Sales:
Fixed production overheads:
Fixed sales overheads:
Nil
18,000 units-unit manufactured 3000
15,000 units Units sold,
Closing
Inver
R72,000
Using absorption costing, the company has calculated that the budgeted profit for the year will be
R43,000.
>
Marginal Absorption
Required:
What would be the budgeted profit if marginal costing is used, instead of absorption costing?
Answers
The budgeted profit using marginal costing would be -R12,000.
How to calculate the costUsing the information provided:
Opening stock = 0
Production = 18,000 units
Closing stock = 0
Fixed production overheads = R72,000
Total variable manufacturing costs = 0 + 18,000 - 0 - R72,000 = -54,000 (negative value due to fixed production overheads)
Total variable production cost per unit = -54,000 / 18,000 = -3 (negative value due to fixed production overheads)
Budgeted profit using marginal costing = (Sales - Total variable production cost per unit * Units sold) - Fixed sales overheads
Given:
Sales = 15,000 units
Fixed sales overheads = R72,000
Total variable production cost per unit = -3
Budgeted profit using marginal costing = (15,000 - (-3) * 15,000) - 72,000
= (15,000 + 45,000) - 72,000
= 60,000 - 72,000
= -12,000
Therefore, the budgeted profit using marginal costing would be -R12,000.
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