Chapter 16, Problem 58RSCQ

Don't Use Ai

Assuming no safety stock, what is the re-order point (R) given an average daily demand of 65 units, a lead time of 8 days, and 720 units on hand? Financial Account

Q1:     Wyatt Company had three intangible assets at the end of 2024 (end of the fiscal year):         Computer software and Web development technology purchased on January 1, 2024, for $70,000. The technology is expected to have a useful life of four years. A patent purchased from R. Jay on January 1, 2024 for a cash cost of $6,000. Jay had registered the patent with the Canadian Intellectual Property Office seven years earlier on January 1, 2017. The cost of the patent is amortized over its legal life. A trademark that was internally developed and registered with the Canadian government for $13,000 on November 1, 2023. Management decided that the trademark has an indefinite life.         Required:     1. What is the acquisition cost of each intangible asset? tech 70k patent 6k trademark 13k     2. Compute the amortization of each intangible asset at December 31, 2024. The company does not use contra accounts. (Round the final answers to the nearest whole dollar.) tech 17.5k…