SoftRock Manufacturing received a machinery invoice for $90,000. Installation cost $15,000 and freight inward $5,000. Find the amount to be capitalized.
Q: Hi expert please provide this question solution general accounting
A: Step 1: Define Cost of Goods SoldThe cost of goods sold is the sum of all the direct expenses during…
Q: Given the following information for a...Accounting question
A: Total Cost of Goods Purchased = Beginning Inventory + Net Purchases - Ending InventoryNet Purchases…
Q: Give true answer this general accounting question
A: Step 1: Define Historical CostThe cost principle in accounting requires that assets are recorded at…
Q: Please provide this question solution general accounting
A: Step 1: Define Total AssetsThe sum of all the resources a business owns is termed total assets. It…
Q: Accounting question please solve answer
A: Step 1:Computation of the total liabilities: Total liabilities = Current liabilities + Long-term…
Q: Accounting question
A: Step 1: Define Direct Write-Off:The direct write-off method is one among the two ways that help…
Q: Follow the Instruction
A: Explanation of Net Income: Net income represents the total profit a company has earned after…
Q: I need answer of this question solution general accounting
A: Step 1: Define Return on AssetReturn on Assets of financial issue that is calculated by dividing the…
Q: The following information relates to a retailer business need solve this question
A: Step 1: Define Cost of Goods SoldThe value of the cost of goods sold during a given period may be…
Q: PLEASE HELP ME WITH THIS ACCOUNTING PROBLEM!
A: Calculation and Journal Entry:Step 1: Calculate the Depreciation Before Impairment (Straight-Line…
Q: Accounting question
A: Step 1: Define The High-Low Method in AccountingThe high-low method is a method used to separate…
Q: Which option is accurate for the Question?
A: Explanation of Social Impact Accounting: This is a comprehensive accounting framework that measures…
Q: Circuit master....accounting questions
A: Step 1: Identify total fixed overheadStep 2: Identify the number of units producedStep 3: Apply the…
Q: short answer please
A: Step 1:Gross margin is (Gross profit/ sales)*100 = Gross profit= ( sales - cost of goods sold) Step…
Q: Hi expert please give me answer general accounting
A: Step 1: Define Stockholders' EquityThe accounts of stockholders' equity often include a variety of…
Q: Question: 22.2 financial accounting
A: Step 1: Identify the total books received.Step 2: Subtract the number of books damaged in transit to…
Q: General Accounting Question Solve
A: Step 1: Definition of Average Collection Period:A period that tells about the competence of the…
Q: How would brought 125 inner tubes for $1225, paying down $500 with remaining due in 20 days be…
A: In this transaction, there are three accounts involved:Inventory: This is an asset account that will…
Q: Remington corporation purchases a.. accuting questions
A: Step 1: Define PatentA patent can be defined as an intellectual property that gives its owner the…
Q: Under IAS 16, which of the following is NOT included in the definition of property, plant, and…
A: Under International Accounting Standard (IAS) 16, Property, Plant and Equipment (PPE) are tangible…
Q: Verna makes all sales on..accounting questions
A: Step 1: Define Accounts ReceivableIn the context of accounting, some goods may be sold in cash and…
Q: General Accounting Question Solution
A: Step 1:Variable cost per unit as per high low method =(Cost at higher level activity - cost at…
Q: Need help with this question solution general accounting
A: Explanation: In the given case, we are required to calculate the Return on Assets (ROA) from the…
Q: Financial Accounting Question need answer
A: Step 1: Define Owner's CapitalThe owner's capital account reflects the financial interest that the…
Q: Please provide this question solution general accounting
A: The equity premium is the additional return that investing in stocks provides over a risk-free rate.…
Q: What is the average investment in receivable on these general accounting question?
A: Explanation: In the given case, we are required to calculate the amount of average accounts…
Q: The silver corporation uses a predetermined...Accounting question
A: To calculate the predetermined overhead rates for Dept. A and Dept. B, we use the following…
Q: Using the following information what is the amount
A: Step 1: Define Gross ProfitGross profit can be located on the trading statement of a company. This…
Q: Hi Expert Answer me Details given in below section
A: Tax Rule for Rental Losses The tax code allows taxpayers to offset up to $25,000 of passive rental…
Q: Supply Variance?
A: Approach to solving the question: Detailed explanation: Examples: Key references:
Q: Question 9
A: Explanation of Average Cost Method: The average cost method is an inventory valuation technique used…
Q: Selected information follows for Wildhorse Select Corporation at December 31: 2024 2023 Bonds…
A: Financing activities in a cash flow statement typically include transactions with owners and…
Q: A partially completed pension spreadsheet showing the relationships, among the elements that…
A: Step 1:Completion of missing amount of pension worksheet showing the relationships among the…
Q: Round your answer to nearest Dollar.
A: We have given, The weekly wage is = $12,000There are 7 days in a week. Thus, Daily wage = ( weekly…
Q: Can you please give me correct solution for this general accounting question?
A: Explanation for a: Standard cost per unit is calculated using the following formula:Standard cost…
Q: financial accounting V
A: Explanation of Book Processing: Book processing in a library context refers to the systematic…
Q: No. 7-12
A: Explanation of Fresh Daily Bakery: This is likely a small business or establishment that produces…
Q: Many surveys found that many people do not know much about details of their own pension plans. Most…
A: General observations about pensions and people's attitudes towards them:1. Lack of knowledge: As you…
Q: Please given answer Accounting question
A: Step 1: Define Absorption CostingAbsorption Costing is a costing method accepted in the Generally…
Q: Hi expert please give me answer general accounting
A: Step 1: Define Sales revenueSales revenue represents the total value of goods and services including…
Q: Please given answer Accounting question
A: Step 1: Define Debt to Equity RatioThe debt to equity ratio is a financial ratio that calculates the…
Q: The per unit standards for direct labor this question solution
A: Step 1: Define Direct labor varianceDirect labor variance is computed to determine the difference…
Q: Benjamin Sports Camp Inc. Provides the following data: please give me answer this general accounting…
A: Step 1: Define Asset turnover ratioAsset turnover ratio is given as the net sales divided by the…
Q: Financial questions
A: Step 1: Define Contribution Margin By measuring the contribution margin, we may determine how much a…
Q: Hello tutor please provide this question solution general accounting
A: Step 1: Define Discounted Payback periodPayback period is the period within which our investment is…
Q: PLEASE HELP ME WITH THIS ACCOUNTING PROBLEM! FILL ALL CELLS NECESSARY ONLY THE ONES NECESSARY
A: Step 1: Calculate Annual DepreciationStep 2: Calculate Accumulated Depreciation for 6…
Q: Actual Variable Overhead Rate?
A: Explanation of Standard Variable Overhead Rate (SVOR): The Standard Variable Overhead Rate (SVOR)…
Q: Financial account question given answer
A: Step 1: Define Growth Rate in SalesA firm raises capital to invest in assets which are further…
Q: need answer help
A: Detailed explanation:1. Sustainability Considerations: Sustainability in accounting refers to…
Q: The controller of further industries..accounting question
A: Step 1: Define High-Low MethodIn the context of accounting, the total costs incurred by a firm are…
I need Answer
Step by step
Solved in 2 steps
- Please help meFoster has built a new factory incurring the following costs: Land GH₵1,200,000 Materials GH₵2,400,000 Labour GH₵3,000,000 Architect's fees GH₵25,000 Surveyor's fees GH₵15,000 Site overheads GH₵300,000 Apportioned administrative overheads GH₵150,000 Testing of fire alarms GH₵10,000 Business rates for first year GH₵12, 000. What will be the total amount capitalised in respect of the factory?Tim Smunt has been asked to evaluate two machines. After some investigation, he determines that they have the costs shown in the following table: Machine A Machine B Original Cost $15,000 $24,000 Labor per year $2,400 $4,400 Maintenance per year $4,300 $1,000 Salvage value $1,600 $7,500 He is told to assume that: 1. The life of each machine is 3 years. 2. The company thinks it knows how to make 12% on investments no more risky than this one. 3. Labor and maintenance are paid at the end of the year. The NPV for Machine A=$nothing (round your response to the nearest whole number and include a minus sign if necessary). The NPV for Machine B=$00 (round your response to the nearest whole number and include a minus sign if necessary). Using the net present value as the basis of comparing the machines,…
- A company is going to buy a new equipment for manufacturing itsproduct. Four different equipment’s are available; costs, operating and otherexpenses are as follows:Equipment A B C DFirst Cost Php 24,000 Php 30,000 Php 49,600 Php 52,000Power per year Php 1300 Php 1360 Php 2400 Php 2520Labor per year Php 10,600 Php 9320 Php 4200 Php 2700Maintenance/year Php 2800 Php 1900 Php1300 Php 700Taxes & Insurance 2% 2% 2% 2%Life; years 5 5 5 5 Money is worth 10% before taxes to the company. Which equipment shouldbe purchased ? Choose which method is applicable.Tim Smunt has been asked to evaluate two machines. After some investigation, he determines that they have the costs shown in the following table: Machine A Machine B Original Cost $15,000 $24,000 Labor per year $2,400 $4,000 Maintenance per year $4,300 $800 Salvage value $2,000 $7,500 He is told to assume that: 1. The life of each machine is 3 years. 2. The company thinks it knows how to make 14% on investments no more risky than this one. 3. Labor and maintenance are paid at the end of the year. The NPV for Machine B= $._____enter your response here A local manufacturing company estimated the following expenses for the upcoming year: a. Insurance on factory: $100,000 b. Factory security: 1 guard at $20/hour for a 2,000 hour work year . 1 production supervisor at $90,000/year d. Repair/Maintenance Technicians: 2 technicians at $40/hour each for a 2,000 hour work year e. Depreciation: $25/machine hour f. Utilities: $7/machine hour The company applies overhead on the basis of machine hours. Required: Build the cost formula Assume one unit of output takes 2 machine hours, and the estimated production for the year is 20,000 units • Calculate the expected number of machine hours to be used in the year. o Calculate the estimated total manufacturing overhead cost. o Calculate the applied overhead rate per machine hour. o Calculate the applied overhead per unit of output.
- Tim Smunt has been asked to evaluate two machines. After some investigation, he determines that they have the costs shown in the following table: He is told to assume that: Original Cost Labor per year Maintenance per year Salvage value Machine A $15,000 $2,400 $4,300 $2,000 Machine B $24,000 $4,000 $800 $7,500 1. The life of each machine is 3 years. 2. The company thinks it knows how to make 14% on investments no more risky than this one. 3. Labor and maintenance are paid at the end of the year. The NPV for Machine A = $ (round your response to the nearest whole number and include a minus sign if necessary).A company purchases a 7,920-square-foot building for $410,000. The building has two separate rental units. Unit A, which has the desirable location on the corner and contains 1,620 square feet, will be rented for $2.00 per square foot. Unit B contains 6,300 square feet and will be rented for $1.20 per square foot. How much of the joint cost should be allocated to Unit A and to Unit B using the value basis of allocation?A company purchases a 20,040-square-foot building for $750,000. The building has two separate rental units. Unit A, which has the desirable location on the corner and contains 6,680 square feet, will be rented for $2.00 per square foot. Unit B contains 13,360 square feet and will be rented for $1.50 per square foot. Compute the amount of joint cost that should be allocated to Unit B using the value basis of allocation: Multiple Choice $300,000 $487,500 $500,000 $600,000. $450,000
- A manufacturer incurs the following costs: $38,000 developing new techniques that will be put in place shortly to cut production costs; $27,000 researching a new process to improve the quality of the standard product and $8,000 on market research into the commercial viability of a new type of product. It is company policy to capitalise costs whenever permitted by IAS 38 Intangible Assets. 9.7 How much should be charged as research and development expenditure in profit or loss? (ignore amortisation) $73,000 $35,000 $27,000 $38,000 A 229ni2ud a yde C BPP EARNING MEDIAPlease show workA local manufacturing company estimated the following expenses for the upcoming year: a. Insurance on factory: $100,000 b. Factory security: 1 guard at $20/hour for a 2,000 hour work year c. 1 production supervisor at $90,000/year d. Repair/Maintenance Technicians: 2 technicians at $40/hour each for a 2,000 hour work year e. Depreciation: $25/machine hour f. Utilities: $7/machine hour The company applies overhead on the basis of machine hours. Required: · Build the cost formula · Assume one unit of output takes 2 machine hours, and the estimated production for the year is 20,000 units o Calculate the expected number of machine hours to be used in the year. o Calculate the estimated total manufacturing overhead cost. o Calculate the applied overhead rate per machine hour. o Calculate the applied overhead per unit of output.