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Sati [7]
2 years ago
13

A car dealer acquires a used car for $12,000, with terms FOB shipping point. Compute total inventory costs assigned to the used

car if additional costs include:
$100 for transportation-in.
$170 for shipping insurance.
$800 for car import duties.
$140 for advertising.
$1,400 for sales staff salaries.
$150 for trimming shrubs.

Required:
For computing inventory, what cost is assigned to the used car?
Business
1 answer:
murzikaleks [220]2 years ago
7 0

Answer:

$13,070

Explanation:

The Cost of inventory according to IAS 2 include all cost of purchase, cost of conversion and other cost incurred in bringing the inventory to their present location and condition.

<u>Calculation of Inventory Cost</u>

Cost of Purchase $12,000

Transportation-in       $100

Shipping insurance    $170

Car import duties      $800

Total Cost              $13,070

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Scotty and Kirk own a speedboat together. They are not related but have been friends since childhood. They own equal shares of t
snow_tiger [21]

Answer:

C. Tenancy in common.

Explanation:

Based on the information provided within the question it can be said that Scotty and Kirk must title the boat as a tenancy in common. This refers to ownership contract in which each party has a separate transferable interest in the ownership of the asset in question. Which in this case would be the boat that they would like to purchase together. By doing so they would be able to transfer each of their ownership to whomever they would like in the future, without the approval of the other.

3 0
2 years ago
The following information is available for Barnes Company for the fiscal year ended December 31: Beginning finished goods invent
weqwewe [10]

Answer:  $57,000

Explanation:

Given that,

Beginning finished goods inventory in units = 0

Units produced = 7,000

Units sold = 5,100

Sales = $663,000

Materials cost = $140,000

Variable conversion cost used = $70,000

Fixed manufacturing cost = $490,000

Indirect operating costs (fixed) = $102,000

Total Variable cost of units produced = Materials cost + Variable conversion cost used

                                                               = $140,000 + $70,000

                                                               = $210,000

Variable\ cost\ per\ unit = \frac{Total\ variable\ cost}{units\ produced}

                                               =\frac{210,000}{7,000}

                                               = $30

Units in ending inventory = Units produced - Units sold

                                          = 7,000 - 5,100

                                          = 1,900

Value of Variable costing ending inventory = Units in ending inventory × Variable cost per unit

                                                                        = 1,900 × $30

                                                                        = $57,000

5 0
2 years ago
Compared with lowest-cost strategies, successful attainment of differentiation strategies depends on ________.
RSB [31]

Answer: D. All of these (happy to help)

Explanation:

5 0
2 years ago
A company has a $20 million portfolio with a beta of 1.2. It would like to use futures contracts on a stock index to hedge its r
11111nata11111 [884]

Answer: 88.89 or 89

Explanation: Futures contract refers to a legal binding which obligates a buyer and seller to transact about a commodity, good, security or services at a predetermined price but goods are delivered or paid for in the future.

Given the following ;

Portfolio value(p) = $20million

Portfolio Beta (b) = 1.2

Index price (i) = 1080

Multiplier = 250

Future value(A) = index price × multiplier

Future value(A) = 1080 × 250 = 270000

Number of contracts (N) = (portfolio value × portfolio Beta) ÷ future value

N = ($20,000,000×1.2)÷270000

N = 24000000 ÷×270000

N = 88.8888=88.89

N = 89 (NEAREST whole number)

7 0
2 years ago
In order to generate the desired workforce skill, competencies, and behaviors that a firm needs to achieve its strategic goals,
nordsb [41]

Answer:

In order to generate the desired workforce skill, competencies, and behaviors that a firm needs to achieve its strategic goals, human resource management must first develop <u>HR policies</u>

Explanation:

Human resources (HR) policies are policies put in place as a form of guidance and protection for every worker within an organization.

When the issues that may arise among workers are sorted via HR policies, company can achieve its strategic goals effectively.

These policies include:

  1. At-will employment
  2. Anti-harassment and non-discrimination
  3. Employment classifications
  4. Leave and time off benefits
  5. Meal and break periods
  6. Timekeeping and pay
  7. Safety and health
  8. Employee conduct, attendance and punctuality
6 0
2 years ago
Read 2 more answers
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