Homework Answers
| Depreciation expense | ||||||
| (66000-5700)/6 | ||||||
| 10050 | ||||||
| for 2017 | ||||||
| 10050*3/12 | ||||||
| 2512.5 | ||||||
| 2017 | 2018 | |||||
| Depreciation expense | 2513 | 10,050 | ||||
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Show Attempt History Current Attempt in Progress Your answer is partially correct. ction Blossom Company purchased...
Question 3 --/1 View Policies Current Attempt in Progress Blossom Company purchased a new machine on...
Question 3 --/1 View Policies Current Attempt in Progress Blossom Company purchased a new machine on October 1, 2022, at a cost of $66,000. The company estimated that the machine has a salvage value of $5,700. The machine is expected to be used for 46,000 working hours during its 6-year life. Compute the depreciation expense under the straight-line method for 2022 and 2023, assuming a December 31 year-end. (Round answers to 2 decimal places, e.g. 5,275.25.) 2022 2023 The depreciation...
Send to Gradetak Question 3 View Policies Show Attempt History Current Attempt in Progress x Your answer is incorre...
Send to Gradetak Question 3 View Policies Show Attempt History Current Attempt in Progress x Your answer is incorrect Sand Chemicals Company acquires a delivery truck at a cost of $35.400 on January 1, 2022. The truck is expected to have a salvage value of $3.900 at the end of its 4-year useful Compute annual depreciation for the first and second years using the straight-line method. First Year Second Year Annual depreciation under straight-line method $ 21240 5 10620 eTextbook...
Send to Gradebook < Prev Next Question 6 View Policies Current Attempt in Progress Sheffield Company...
Send to Gradebook < Prev Next Question 6 View Policies Current Attempt in Progress Sheffield Company purchased equipment for $237,200 on October 1, 2020. It is estimated that the equipment will have a useful life of 8 years and a salvage value of $14,000. Estimated production is 36,000 units and estimated working hours are 20,0 During 2020, Sheffield uses the equipment for 500 hours and the equipment produces 1,000 units. Compute depreciation expense under each of the following methods. Sheffield...
Question 3 --/1 View Policies Current Attempt in Progress Crane Company purchased a new machine on...
Question 3 --/1 View Policies Current Attempt in Progress Crane Company purchased a new machine on October 1, 2022, at a cost of $80,500. The company estimated that the machine has a salvage value of $6,720. The machine is expected to be used for 72,400 working hours during its 7-year life. Compute the depreciation expense under the straight-line method for 2022 and 2023, assuming a December 31 year-end. (Round answers to 2 decimal places, e.g. 5,275.25.) 2022 2023 The depreciation...
Send to Gradebook < Prev Next > 0.72/1 Question 2 View Policies Show Attempt History Current...
Send to Gradebook < Prev Next > 0.72/1 Question 2 View Policies Show Attempt History Current Attempt in Progress Ikerd Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are expected to total $326,772 for the year, and machine usage is estimated at 125,200 hours. For the year, $363,320 of overhead costs are incurred and 132,000 hours are used. ✓ Your answer is correct. Compute the manufacturing overhead rate for the year. (Round answer...
Question 13 View Policies Show Attempt History Current Attempt in Progress Marin Company is constructing a...
Question 13 View Policies Show Attempt History Current Attempt in Progress Marin Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $2,076,000 on March 1, $1,224,000 on June 1, and $3,001,740 on December 31. Compute Marin's weighted average accumulated expenditures for interest capitalization purposes. Weighted-Average Accumulated Expenditures $ e Textbook and Media Attempts: 1 of 3 used Save for Later Submit Answer Send to Gradebook < Prev Previous Next
Show Attempt History Current Attempt in Progress Your answer is partially correct. In March, Sheffield Company...
Show Attempt History Current Attempt in Progress Your answer is partially correct. In March, Sheffield Company completes its only two jobs in process, Jobs 10 and 11. Job 10 cost $27,300 and Job 11 $34,500. On March 31, Job 10 is sold. Record the completion of the two jobs and the sale of Job 10. (Enter negative amounts using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) Manufacturing Costs Factory Labor $ 0 Work i Raw...
Question 10 0/1 View Policies Show Attempt History Current Attempt in Progress Tamarisk Company uses a...
Question 10 0/1 View Policies Show Attempt History Current Attempt in Progress Tamarisk Company uses a periodic inventory system. For April, when the company sold 550 units, the following information is available. Units Unit Cost Total Cost April 1 inventory 230 April 15 purchase 360 $26 31 34 $5,980 11,160 13,940 $31,080 April 23 purchase _410 1,000 Compute the April 30 inventory and the April cost of goods sold using the FIFO method. Ending inventory $ Cost of goods sold...
67/1 SHOW Attempt History Current Attempt in Progress Blossom Company had $211.600 of net income in...
67/1 SHOW Attempt History Current Attempt in Progress Blossom Company had $211.600 of net income in 2019 when the selling price per unit was $151, the variable costs per unit were $96, and the fixed costs were $574,900. Management expects per unit data and total foxed costs to remain the same in 2020. The president of Blossom Company is under pressure from stockholders to increase net income by $57.200 in 2020. us Your answer is correct. Compute the number of...
fmodule jtemid-703249 Question 6 0/1 View Policies Show Attempt History Current Attempt in Progress x Your...
fmodule jtemid-703249 Question 6 0/1 View Policies Show Attempt History Current Attempt in Progress x Your answer is incorrect Crane Lumber, Inc, is considering purchasing a new wood saw that costs $80,000. The saw will generate revenues of $100,000 per year for five years. The cost of materials and labor needed to generate these revenues will total $60,000 per year, and other cash expenses will be $10,000 per year. The machine is expected to sell for $2.400 at the end...
Question 3 --/1 View Policies Current Attempt in Progress Blossom Company purchased a new machine on October 1, 2022, at a cost of $66,000. The company estimated that the machine has a salvage value of $5,700. The machine is expected to be used for 46,000 working hours during its 6-year life. Compute the depreciation expense under the straight-line method for 2022 and 2023, assuming a December 31 year-end. (Round answers to 2 decimal places, e.g. 5,275.25.) 2022 2023 The depreciation...
Send to Gradetak Question 3 View Policies Show Attempt History Current Attempt in Progress x Your answer is incorrect Sand Chemicals Company acquires a delivery truck at a cost of $35.400 on January 1, 2022. The truck is expected to have a salvage value of $3.900 at the end of its 4-year useful Compute annual depreciation for the first and second years using the straight-line method. First Year Second Year Annual depreciation under straight-line method $ 21240 5 10620 eTextbook...
Send to Gradebook < Prev Next Question 6 View Policies Current Attempt in Progress Sheffield Company purchased equipment for $237,200 on October 1, 2020. It is estimated that the equipment will have a useful life of 8 years and a salvage value of $14,000. Estimated production is 36,000 units and estimated working hours are 20,0 During 2020, Sheffield uses the equipment for 500 hours and the equipment produces 1,000 units. Compute depreciation expense under each of the following methods. Sheffield...
Question 3 --/1 View Policies Current Attempt in Progress Crane Company purchased a new machine on October 1, 2022, at a cost of $80,500. The company estimated that the machine has a salvage value of $6,720. The machine is expected to be used for 72,400 working hours during its 7-year life. Compute the depreciation expense under the straight-line method for 2022 and 2023, assuming a December 31 year-end. (Round answers to 2 decimal places, e.g. 5,275.25.) 2022 2023 The depreciation...
Send to Gradebook < Prev Next > 0.72/1 Question 2 View Policies Show Attempt History Current Attempt in Progress Ikerd Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are expected to total $326,772 for the year, and machine usage is estimated at 125,200 hours. For the year, $363,320 of overhead costs are incurred and 132,000 hours are used. ✓ Your answer is correct. Compute the manufacturing overhead rate for the year. (Round answer...
Question 13 View Policies Show Attempt History Current Attempt in Progress Marin Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $2,076,000 on March 1, $1,224,000 on June 1, and $3,001,740 on December 31. Compute Marin's weighted average accumulated expenditures for interest capitalization purposes. Weighted-Average Accumulated Expenditures $ e Textbook and Media Attempts: 1 of 3 used Save for Later Submit Answer Send to Gradebook < Prev Previous Next
Show Attempt History Current Attempt in Progress Your answer is partially correct. In March, Sheffield Company completes its only two jobs in process, Jobs 10 and 11. Job 10 cost $27,300 and Job 11 $34,500. On March 31, Job 10 is sold. Record the completion of the two jobs and the sale of Job 10. (Enter negative amounts using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) Manufacturing Costs Factory Labor $ 0 Work i Raw...
Question 10 0/1 View Policies Show Attempt History Current Attempt in Progress Tamarisk Company uses a periodic inventory system. For April, when the company sold 550 units, the following information is available. Units Unit Cost Total Cost April 1 inventory 230 April 15 purchase 360 $26 31 34 $5,980 11,160 13,940 $31,080 April 23 purchase _410 1,000 Compute the April 30 inventory and the April cost of goods sold using the FIFO method. Ending inventory $ Cost of goods sold...
67/1 SHOW Attempt History Current Attempt in Progress Blossom Company had $211.600 of net income in 2019 when the selling price per unit was $151, the variable costs per unit were $96, and the fixed costs were $574,900. Management expects per unit data and total foxed costs to remain the same in 2020. The president of Blossom Company is under pressure from stockholders to increase net income by $57.200 in 2020. us Your answer is correct. Compute the number of...
fmodule jtemid-703249 Question 6 0/1 View Policies Show Attempt History Current Attempt in Progress x Your answer is incorrect Crane Lumber, Inc, is considering purchasing a new wood saw that costs $80,000. The saw will generate revenues of $100,000 per year for five years. The cost of materials and labor needed to generate these revenues will total $60,000 per year, and other cash expenses will be $10,000 per year. The machine is expected to sell for $2.400 at the end...
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