need answer please provide this one Alcide Mining Company purchased land on February 1, 2014, at a cost of$1,817,280. It estimated that a total of 64,000 tons of mineral wasavailable for mining. After it has removed all the natural resources, thecompany will be required to restore the property to its previous statebecause of strict environmental protection laws. It estimates the fair valueof this restoration obligation at $169,920. It believes it will be able to sellthe property afterwards for $188,800. It incurred developmental costs of$377,600 before it was able to do any mining. In 2014, resources removedtotaled 32,000 tons. The company sold 25,600 tons. Compute thefollowing information for 2014.(a) Per unit mineral cost(b) Total material cost of December 31, 2014 inventory(c) Total materials cost in cost of goods sold at December 31, 2014

Step 1: Definition of the Cost of goods sold (COGS):Cost of goods sold is the bearing value of goods…

Answered: Alcide Mining Company purchased land on…

Business Its Legal Ethical & Global Environment

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ISBN:9781305224414

Author:JENNINGS

Publisher:JENNINGS

Chapter11: Environmental Regulation And Sustainability

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Problem 9QAP

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Blue Mining Company purchased land on February 1, 2025, at a cost of $914,200. It estimated that a total of 57,300 tons of mineral was available for mining. After it has removed all the natural resources, the company will be required to restore the property to its previous state because of strict environmental protection laws. It estimates the fair value of this restoration obligation at $109,800. It believes it will be able to sell the property afterwards for $122,000. It incurred developmental costs of $244,000 before it was able to do any mining. In 2025, resources removed totaled 28,650 tons. The company sold 21,010 tons. Compute the following information for 2025. a. b. C. Per unit mineral cost Total material cost of December 31, 2025, inventory Total material cost in cost of goods sold at December 31, 2025 $ tA $ /ton
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(Depletion Computations—Mining) Alcide Mining Company purchased land on February 1, 2017, at a cost of $1,190,000. It estimated that a total of 60,000 tons of mineral was available for mining. After it has removed all the natural resources, the company will be required to restore the property to its previous state because of strict environmental protection laws. It estimates the fair value of this restoration obligation at $90,000. It believes it will be able to sell the property afterwards for $100,000. It incurred developmental costs of $200,000 before it was able to do any mining. In 2017, resources removed totaled 30,000 tons. The company sold 22,000 tons.InstructionsCompute the following information for 2017.(a) Per unit material cost.(b) Total material cost of December 31, 2017, inventory.(c) Total material cost in cost of goods sold at December 31, 2017
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