Oriole Company has old inventory on hand that cost $12600. Its scrap value is $15300. The inventory could be sold for $38200 if manufactured further at an additional cost of $12600. What should Oriole do?
Q: Beats Corporation constructed a machine at a total cost of $206 million. Construction was completed…
A: Depreciation means the amount of normal wear or tear of the assets due to usage or passage of time.…
Q: c. Sold goods for $5,670, on account, which includes 6.5% sales tax. The company employes a gross…
A: In the first scenario, the seller records the sale of goods on account, including sales tax. The…
Q: Brenda and Kipp are not related During 2021, Brenda loans Kipp $30,000, which he intends to use to…
A: Loan receivables from Kipp = $30,000For the year 2022:It is estimated that the creditors will…
Q: Prepare separate depreciation schedules for the life of the equipment using: (Round- 2751
A: The expected decline in the value of a fixed asset over the course of its use is called…
Q: a. The company is divided into two sales territories-Northern and Southern. The Northern Territory…
A: The segmented contribution margin income statement provides a comprehensive breakdown of the…
Q: [The following information applies to the questions displayed below.] Case A. Kapono Farms exchanged…
A: Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: Rene Inc. has capacity to produce 15,000 units of inventory. It operated at 100% capacity during the…
A: The objective of the question is to calculate the gross profit to be reported in the absorption…
Q: Crane Company begins operations on April 1. Information from job cost sheets shows the following.…
A: Job costing system is the system which includes the costs of the particular jobs and this system…
Q: Venkat Engineering decided to dispose of his old industrial evaporator and upgrade to a new model.…
A: Depreciation expense:— It is the allocation of depreciable cost of asset over the estimated useful…
Q: Required Information [The following information applies to the questions displayed below.] At…
A: DateGeneral JournalDebitCreditDec 31Bad Debt Expense $5,957 Allowance for Bad Debts $5,957…
Q: 2. Provide the journal entry to record the interest payment on March 31, June 30, September 30, and…
A: Bonds discuss the securities issued by using a agency inside the marketplace that consists of a hard…
Q: 1. Determine the total costs of the advertising and sales departments after using the direct method…
A: 1) Direct Method : The direct method allocates costs of each of the service departments to each…
Q: Bed & Bath, a retailing company, has two departments-Hardware and Linens. The company's most recent…
A: RELEVANT COST Relevant cost is the cost that is different between different alternatives. This cost…
Q: 2
A: The objective of the question is to identify the correct statement among the given options related…
Q: Zaria Inc. provides the following cost information for producing 10,000 units of inventory during…
A: The objective of the question is to calculate the value of the unsold inventory at the end of the…
Q: Suppose at December 31 of a recent year, the following information (in thousands) was available for…
A: Inventory Turnover ratio:Inventory Turnover ratio is one of the ratioes which is used to calculate…
Q: Jamie Lee Jackson, age 24, now a busy full-time college student and part-time bakery clerk, has been…
A: Total assets refers to the total amount of assets possessed by a person or business. Assets are…
Q: I need a full detailed cash flow in a table please, based on the follwing information tems…
A: To create a detailed cash flow table based on the information provided, we need to consider various…
Q: 33 Through November, Cameron has received gross income of $129,000. For December, Cameron is…
A: Standard DeductionSince Cameron is filing as a single taxpayer and we're assuming he has no itemized…
Q: Martinez Company owns a building that appears on its prior year-end balance sheet at its original…
A: Final answer is as foloows:Explanation:1. Building's Age (Plant Asset Age):We can use the…
Q: Generally, the revenue account for a merchandising business is entitled Oa. Gross Sales Ob. Sales…
A: Revenue statistics show how much money a merchandising company makes from selling products and…
Q: Problem 14-1A (Algo) Part 1 equired: Classify each cost and its amount as either product or period.…
A: Product Cost: The expenses directly related to the creation of goods or services are known as…
Q: Sheridan Corp. had total variable costs of $148,2 (a1) Calculate contribution margin ratio.…
A: The contribution margin is calculated as the difference between the sales and variable costs. The…
Q: The contribution margin ratio is 25% for Grain company and the break-even point in sales is…
A: The objective of the question is to calculate the sales required to achieve a target net operating…
Q: Adjustment for accrued expense City Realty Co. pays weekly salaries of $16,000 on Monday for a…
A: The adjusting entry for accrued expenses recognizes expenses that have been incurred but not yet…
Q: On January 1, 2024, Nguyen Electronics leased equipment from Nevels Leasing for a four-year period…
A: To solve this problem, we can use the annuity formula to calculate the annual lease payments. Then,…
Q: Shandra Corporation (a U.S. -based company) expects to order goods from a foreign supplier at a…
A: Cashflow hedge accounting utilizes financial instruments to mitigate risks linked to forthcoming…
Q: Question 24. Torpedo plc took out a bank loan on 1 April 20X0 for $10,000. It is due to be paid back…
A: Lets understand the basics.Liabilities are divided into current and non current liabilities. Current…
Q: Simple Plan Enterprises uses a periodic inventory system. Its records showed the following:…
A: FIFO is the inventory valuation method through which the company determines the cost of goods sold…
Q: On January 1, 2025, Blossom Company purchased 5% bonds, having a maturity value of $400,000 for…
A: An investor invests in bonds to earn regular interest payments over the period of bond life. At the…
Q: Only mathematics step with explanation
A: The objective of the question is to determine the tax impact resulting from Kwan's death,…
Q: Direct and step methods Salado Inc. provides cleaning services through its Residential and…
A: Lets understand the basics.Service department costs are allocated to production department using,(1)…
Q: For each company, calculate the missing income statement amount. Company Sales Revenue Cost of Goods…
A: The gross profit is calculated as the difference between the sales and cost of goods sold. The net…
Q: The following information is available for Cullumber Corporation's pension plan for the year 2023:…
A: The objective of the question is to calculate the defined benefit expense for the year 2023 for…
Q: An excel spreadsheet must be use to complete the following activity: You work for a small business.…
A: Matching 401(k) contributions are extra payments made by employers to the 401(k) plans of their…
Q: Tasty Foods expects to have 20,000 units of finished goods inventory on hand on March 31 and reports…
A: Budgeting is the process of planning and allocating money for various expenses and goals within a…
Q: Required: Determine consolidated totals for each of these account balances.
A: The consolation is the accounting process in which the financial results of the parent company and…
Q: Molander Corporation is a distributor of a sun umbrella used at resort hotels. Data concerning the…
A: Margin of safety is the difference between total sales revenue and break-even sales revenue. The…
Q: The accounting records of Kingbird Electronics show the following data. Beginning inventory…
A: Cost of goods sold using FIFO Method is $71190Cost of goods sold using LIFO Method is $74410Cost of…
Q: Jamie Lee Jackson, age 24, now a busy full-time college student and part-time bakery clerk, has been…
A: Liquid assets are the assets those can be easily converted into cash in a very short period of time.…
Q: Given the following information, determine the activity rate (rounded to the nearest cent) for…
A: The objective of the question is to calculate the activity rate for setups. The activity rate is…
Q: Harold McWilliams owns and manages a general merchandise store in a rural area of Virginia. Harold…
A: Margin of safety is the difference between total sales revenue and break even sales revenue. Break…
Q: Spartan Corporation redeemed 25 percent of its shares for $4,500 on July 1 of this year, in a…
A: Accumulated Earnings and Profits (E&P), often abbreviated as "Accumulated E&P, is an…
Q: Year 1 a. Sold $1,350,000 of merchandise on credit (that had cost $982,900), terms n/30. b. Wrote…
A: JOURNAL (Year 1)ParticularsJOURNAL (Year 1)ParticularsDebit amt $Credit amt $a.accounts…
Q: Three grams of musk oil are required for each bottle of Mink Caress, a very popular perfume made by…
A: Budgeting:Budgeting is predicting the future with the help of available data and the expectations…
Q: Class Activity Question 1 Sakib Al-Hossain started his own consultation firm, Al-Hossain…
A: The accounting equation states that assets are equal to the sum of the liabilities and equity. The…
Q: Rene Inc. has capacity to produce 15,000 units of inventory. It operated at 100% capacity during the…
A: The objective of the question is to calculate the value of the inventory at the end of the second…
Q: Altira Corporation provides the following information related to its inventory during the month of…
A: LIFO Inventory Valuation Method:"An accounting technique known as LIFO short, for 'Last In, First…
Q: 31, with the first payment on June 30, 2024. Georgia-Atlantic's incremental borrowing rate is 8%,…
A: Present value of lease payments = Annual lease payments * PVAD of 1 at I for n periodsPretax amount…
Q: is the exclusive distributor for an automotive product selling for $56.00 per unit with a CM ratio…
A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for…
Step by step
Solved in 3 steps
- Bramble Corp. has inventory on hand with a cost of $24000. Its scrap value is $38000. The inventory could be sold for $76000 if processed further at an additional cost of $21000. What should Bramble do? O Manufacture further and sell it for $76000. O Sell the inventory for $38000 scrap value. O Dispose of the inventory to avoid any further decline in value. O Hold the inventory at its $24000 cost.Pratt Company has old inventory on hand that cost $15,000. Its scrap value is $20,000. The inventory could be sold for $50,000 if manufactured further at an additional cost of $15,000. What should Pratt do? Group of answer choices Hold the inventory at its $15,000 cost Dispose of the inventory to avoid any further decline in value Manufacture further and sell it for $50,000 Sell the inventory for $20,000 scrap value1. Your company has a customer who is shutting down a production line, and it is your responsibility to dispose of the extrusion machine. The company could keep it in inventory for a possible future product and estimates that the reservation value is $100,000. Your dealings on the secondhand market lead you to believe that if you commit to a price of $200,000, there is a 0.5 chance you will be able to sell the machine. If you commit to a price of $300,000, there is a 0.2 chance you will be able to sell the machine. If you commit to a price of $400,000, there is a 0.15 chance you will be able to sell the machine. These probabilities are summarized in the following table. For each posted price, enter the expected value of attempting to sell the machine at that price. (Hint: Be sure to take into account the value of the machine to your company in the event that you are not be able to sell the machine.) Posted Price Probability of Sale Expected Value ($) ($) $400,000 0.15 $300,000 0.2…
- Your company has a customer who is shutting down a production line, and it is your responsibility to dispose of the extrusion machine. The company could keep it in inventory for a possible future product and estimates that the reservation value is $150,000. Your dealings on the secondhand market lead you to believe that if you commit to a price of $200,000, there is a 0.5 chance you will be able to sell the machine. If you commit to a price of $250,000, there is a 0.3 chance you will be able to sell the machine. If you commit to a price of $300,000, there is a 0.1 chance you will be able to sell the machine. These probabilities are summarized in the following table. For each posted price, enter the expected value of attempting to sell the machine at that price. (Hint: Be sure to take into account the value of the machine to your company in the event that you are not be able to sell the machine.) Posted Price Probability of Sale Expected Value ($) ($) $300,000 0.1…Your company has a customer who is shutting down a production line, and it is your responsibility to dispose of the extrusion machine. The company could keep it in inventory for a possible future product and estimates that the reservation value is $100,000. Your dealings on the secondhand market lead you to believe that if you commit to a price of $200,000, there is a 0.4 chance you will be able to sell the machine. If you commit to a price of $300,000, there is a 0.25 chance you will be able to sell the machine. If you commit to a price of $400,000, there is a 0.1 chance you will be able to sell the machine. These probabilities are summarized in the following table. For each posted price, enter the expected value of attempting to sell the machine at that price. (Hint: Be sure to take into account the value of the machine to your company in the event that you are not be able to sell the machine.) Posted Price Probability of Sale Expected Value ($) ($) $400,000 0.1 $300,000 0.25…Suppose your company has just found $100,000 worth of outdated inventory in an old warehouse (this is the original manufacturing cost). Your boss asks you to consider two options: (1) re-engineer the outdated parts at a cost of $30,000, and ideally resell them for $60,000, or (2) scrap them for $15,000 cash (which is certain) in a second-hand market. What advice would you give your boss? Explain in your own words and give the data that supports your answer.
- Suppose your company has just found $100,000 worth of outdated inventory in an old warehouse (this is the original manufacturing cost). Your boss asks you to consider two options: (1) re-engineer the outdated parts at a cost of $30,000, and ideally resell them for $60,000, or (2) scrap them for $15,000 cash (which is certain) in a second-hand market. What advice would you give your boss? Explain in your own words.Suppose your company has just discovered $100,000 worth (this is the original manufacturing cost) of obsolete inventory in an old warehouse. Your boss asks you to evaluate two options: (1) remachine the obsolete parts at a cost of $30,000 and then hopefully resell them for $60,000 or (2) scrap them for $15,000 cash (which is certain) through a secondhand market. What recommendation would you make to your boss? Explain your reasoning.Samreen Inc.,has some material that originally cost $73,500. The material has a scrap value of $45,600 as is, but if reworked at a cost of $6,600, it could be sold for $58,100. What would be the incremental effect on the company's overall profit of reworking and selling the material rather than selling it as is as scrap?
- HIJK Company has on its inventory for almost three years electronics items with historical cost of 1,200. The cost to sell this products now is 50 per unit and can be sold at a price of 800 per unit. The said electronics items will become obsolete and proper provision for obsolescence is already accounted. What course of action is beneficial to the company as a whole? Sell the electronics items since the incremental benefit is more than the incremental cost. Net incremental benefit of selling is 750 per unit Do not sell the electronics items since the selling price is below the total cost. A net loss will be 450 per unit if sold.5 Your company has a customer who is shutting down a production line, and it is your responsibility to dispose of the extrusion machine. The company could keep it In Inventory for a possible future product and estimates that the reservation value is $150,000. Your dealings on the secondhand market lead you to believe that if you commit to a price of $200,000, there is a 0.5 chance you will be able to sell the machine. If you commit to a price of $250,000, there is a 0.3 chance you will be able to sell the machine. If you commit to a price of $300,000, there is a 0.1 chance you will be able to sell the machine. These probabilities are summarized in the following table. For each posted price, enter the expected value of attempting to sell the machine at that price. (Hint: Be sure to take into account the value of the machine to your company in the event that you are not be able to sell the machine.) Posted Price Expected Value ($) Probability of Sale ($) $300,000 0.1 $ $250,000 0.3 $…The sales manager of Lugi Company is at a loss on what to do with 10,000 units of defective parts on stock with a cost of P 25,000. Two proposals submitted for his consideration are as follows: a) sell the parts as scrap for P 1.75 per unit. b) Re-work the parts at a cost of P 12,500 and sell them for P 5 per unit. What is the net advantage or disadvantage of the proposal to re-work? P 20,000 advantage P 37,500 advantage P 7,500 disadvantage P 12,500 advantage