Blago Wholesale Company began operations on January 1, 20X1, and uses the average cost method in costing its inventory. Management is contemplating a change to the FIFO method in 20X2 and is interested in determining how such a change will affect net income. Accordingly, the following information has been developed:
20X1 20X2
Final inventory:
Average cost $150,000 $255,000
FIFO 160,000 270,000
Condensed income statements for Blago Wholesale appear below:
20X1 20X2
Sales $1,000,000 $1,200,000
Cost of goods sold 600,000 720,000
Gross profit 400,000 480,000
Selling, general, and
administrative 250,000 275,000
Net income $150,000 $205,000
Required:
Based on this information, what would 20X2 net income be after the change to the FIFO method? Ignore any income tax effects of this change in accounting method.
Answers
Answer:
net income for 20x2 is $220,000
Explanation:
if the company changes to the FIFO method, the adjusting entry should be:
Dr Inventory 15,000
Cr Cost of goods sold 15,000
This means that COGS will decrease by $15,000.
20x2 income statement
Sales $1,200,000
Cost of goods sold ($705,000)
Gross profit $495,000
S&A expenses ($275,000)
Net income $220,000
Related Questions
Which consumer protection law requires that products be free of defects when sold?
a. used car rule
b. uniform commercial code
c. bill of consumer rights
d. credit card accountability, responsibility, and disclosure act
Answers
The uniform commercial code is a law that requires that products are free of defects when they are sold.
What is the uniform commercial code?This is a term, that is used to refer to all of the commercial laws that are used to apply to the buying and the selling of goods in the US.
The law protects customers in such a way that the products are free of defects when they buy. The products can also be returned if they are not.
Raed more on the uniform commercial code here: https://brainly.com/question/15980446
The consumer protection law that requires that products be free of defects when sold is the b. uniform commercial code
What is Consumer Protection Laws?This refers to those laws put in place in order to protect the customer from unethical practices of business owners.
Hence, we can note that the uniform commercial code is the consumer protection law that requires that products be free of defects when sold so that the customers can get the maximum value for the products.
Read more about consumer protection laws here:
https://brainly.com/question/1862829
The Riteway Ad Agency provides cars for its sales staff. In the past, the company has always purchased its cars from a dealer and then sold the cars after three years of use. The company’s present fleet of cars is three years old and will be sold very shortly. To provide a replacement fleet, the company is considering two alternatives:
Purchase alternative: The company can purchase the cars, as in the past, and sell the cars after three years of use. Ten cars will be needed, which can be purchased at a discounted price of $20,000 each. If this alternative is accepted, the following costs will be incurred on the fleet as a whole:
Annual cost of servicing, taxes, and licensing $ 5,300
Repairs, first year $ 3,200
Repairs, second year $ 5,700
Repairs, third year $ 7,700
At the end of three years, the fleet could be sold for one-half of the original purchase price.
Lease alternative: The company can lease the cars under a three-year lease contract. The lease cost would be $72,000 per year (the first payment due at the end of Year 1). As part of this lease cost, the owner would provide all servicing and repairs, license the cars, and pay all the taxes. Riteway would be required to make a $16,000 security deposit at the beginning of the lease period, which would be refunded when the cars were returned to the owner at the end of the lease contract.
Riteway Ad Agency’s required rate of return is 16%.
Click here to view Exhibit 12B-1 and Exhibit 12B-2, to determine the appropriate discount factor(s) using tables. (Use the tables to get your discount factors. The linked tables are the same tables as the ones in your course packet. If you calculate discount factors using Excel or a financial calculator, your answer may be different enough due to rounding that the system will mark it wrong.)
Required:
1. What is the net present value of the cash flows associated with the purchase alternative?
2. What is the net present value of the cash flows associated with the lease alternative?
3. Which alternative should the company accept?
Answers
The lease option has a present value of $123,499. The purchase option has a present value of $123,499 using the total cost approach. Acceptance would be given to the lease option.
How does present value work?The sum of discounted cash flows is the present value. It is the present value of a cash flow. A financial calculator would be used to figure out the present value.
Cash flow from the purchase alternatives: Cash flow in year 0 = $17,000 x 10 = $170,000 Cash flow in year 1 = $-3000 - $1500 = $-4500 Cash flow in year 2 = $3000 - $4000 = $7000 Cash flow in year 3 = $3000 - $6000 - ($170,000 / 2) = $-76,000 .
Cash flow from the lease alternative:
Cash flow in year 0 = $10,000
Cash flow in year 1 = $55,000
Cash flow in year 2 = $55,000
Cash flow in year 3 = $55,000- $10,000 = $45,000
Discount rate = 18%
Present value = $123,499
To learn more about Present value visit :
https://brainly.com/question/17322936
#SPJ1
________ commerce involves the payment of a fee to have products and services delivered on a recurring schedule.
Answers
Answer: Subscription
Explanation:
Subscription commerce involves the payment of a fee to have products and services delivered on a recurring schedule.
What is Subscription Commerce?Subscription commerce is a type of business model that allows a customer to pay at intervals a recurring price in order to have access to a product or service.
In subscription commerce, a customer must renew his subscription otherwise, he wouldn't be allowed access to the product or service. This payment must be made at intervals.
Learn more about Subscription Commerce here:
https://brainly.com/question/24553900
A company is designing a product layout for a new product. It plans to use this production line eight hours a day in order to meet projected demand of 480 units per day. The tasks necessary to produce this product are:
Answers
Answer:
1. The correct option is C. 54.
2. The correct option is E. 60.
3. The correct option is A. 3.
4. The correct option is E. 90%.
5. The correct option is E. y.
Explanation:
Note: This question is not complete. The complete question is therefore provided before answering the question as follows:
A company is designing a product layout for a new product. It plans to use this production line eight hours a day in order to meet projected demand of 480 units per day. The tasks necessary to produce this product:
Task Time (sec) Immediate Predecessor
u 30 none
v 30 u
w 6 u
x 12 w
y 54 x
z 30 v, y
1. Without regard to demand, what is the minimum possible cycle time (in seconds) for this situation?
A. 162
B. 72
C. 54
D. 12
E. 60
2. If the company desires that output rate equal demand, what is the desired cycle time (in seconds)?
A. 162
B. 72
C. 54
D. 12
E. 60
3. If the company desires that output rate equal demand, what is the minimum number of workstations needed?
A. 3
B. 4
C. 5
D. 6
E. 7
4. If the company desires that output rate equal demand, what would be the efficiency of this line with the minimum number of workstations?
A. 100%
B. 92.5%
C. 75%
D. 87.5%
E. 90%
5. If the company desires that output rate equal demand, what is the last task performed at the second workstation in the balance which uses the minimum number of workstations?
A. u
B. v
C. w
D. x
E. y
The explanation of the answers is now provided as follows:
1. Without regard to demand, what is the minimum possible cycle time (in seconds) for this situation?
The minimum cycle time is equal to the maximum task time. From the data in the question, it can be seen that the maximum task time is 54. Therefore, the correct option is C. 54. That is, the minimum possible cycle time (in seconds) for this situation is 54.
2. If the company desires that output rate equal demand, what is the desired cycle time (in seconds)?
Desired cycle time (in seconds) = Demand rate / Number of hours per days = 480 / 8 = 60
Therefore, the correct option is E. 60.
3. If the company desires that output rate equal demand, what is the minimum number of workstations needed?
Total task time = 30 + 30 + 6 + 12 + 54 + 30 = 162
Minimum possible cycle time = 54
Therefore, we have:
Minimum number of workstations needed = Total task time / Minimum possible cycle time = 162 / 54 = 3
Therefore, the correct option is A. 3.
4. If the company desires that output rate equal demand, what would be the efficiency of this line with the minimum number of workstations?
Line efficiency = Total task time / (Minimum number of workstations needed * Desired cycle time) = 162 / (3 * 60) = 162 / 180 = 0.90, or 90%
Therefore, the correct option is E. 90%.
5. If the company desires that output rate equal demand, what is the last task performed at the second workstation in the balance which uses the minimum number of workstations?
The last task should be the one has the longest task time. From the data table in the question, it can be observed that y is the task that has the longest task time. This implies y is the task to perform last.
Therefore, the correct option is E. y.
What are two issues you should look for while previewing a form letter?
spacing problems and paper quality problems
instances in which multiple sources are used and spacing problems
spacing problems and errors in recipient information
paper quality problems and errors in recipient information
its C
Answers
Answer:
spacing problems and paper quality problems
Customer service personnel typically need at least:
A. a high school diploma
B. a vocational school certificate
C. a community college degree
D. a four-year degree
Answers
Answer:
a
Explanation:
On 1 January 2019 CARRIBEAN Ltd entered into a lease agreement with
ESTATES Ltd, the terms of which are as follows:
1.
2.
3.
4.
5.
6.
7.
Asset to be leased is a motor vehicle with a cost of R 8 000.
The lease term is 5 years. Instalments of R 2 320 to be paid
on 31 December each year, the final instalment to be made
on 31 December 2023.
The interest rate implicit in the lease is 13.81%.
The estimated useful life of the motor vehicle is 5 years.
The estimated residual value is R 1 000.
The company's policy is to utilise the straight line method to
depreciate motor vehicles.
The applicable rate of taxation is 30%. Ignore VAT implications.
The financial year end of the company is 31 December.
REQUIRED
6.1.1 Prepare a schedule of repayments for the above lease.
15
Answers
Lease payments are recurring, schedule monthly, and costs are paid for the privilege of using a building, asset, or piece of machinery. For real estate, automobiles, computer hardware, software, and other fixed assets, people can sign leasing agreements.
Given
Lease amount of vehicle = 8000
Instalment = 2320
Time = 5Years
Residual value = 1000
Required to prepare a schedule of repayments for the above lease
The schedule of repayments will show the annual lease payment and the remaining balance after each year.
Year 1:
Lease payment: R 2,320
Remaining balance: R 8,000 - R 2,320 = R 5,680
Year 2:
Lease payment: R 2,320
Remaining balance: R 5,680 - R 2,320 = R 3,360
Year 3:
Lease payment: R 2,320
Remaining balance: R 3,360 - R 2,320 = R 1,040
Year 4:
Lease payment: R 2,320
Remaining balance: R 1,040 - R 2,320 (final payment, residual value)
Year 5 (Final Year):
Lease payment: R 1,000 (residual value)
Learn more about Lease Payment here:
https://brainly.com/question/30237242
#SPJ1
Jake paid $9840 in interest on his interest-only home loan last year. If
his interest rate was 7%, how much was the balance on his loan?
Answers
The principal balance of the loan comes out to be $140,571 when the yearly interest on the loan is $9,840 and the rate of interest of 7%.
What is a loan?The loan is an amount taken by the borrower from the lending party and promised to pay the loan with interest after an agreed period of time.
Given values:
Annual interest on a loan: $9,840
Interest rate: 7%
Time period: 1 year
Computation of principal value on loan:
\(\rm\ Principal \rm\ Value =\frac{\rm\ Annual \rm\ Interest \rm\ on \rm\ Loan}{\rm\ Interest \rm\ Rate \times \rm\ Time \rm\ Period}\\\rm\ Principal \rm\ Value=\frac{\$9,840}{0.07 \times 1 \rm\ year }\\\rm\ Principal \rm\ Value=\$140,571\)
Therefore, when the annual interest is $9,840 at the rate of interest of 7%, then the value of the principal amount is $140,571.
Learn more about the loan in the related link:
https://brainly.com/question/18648510
#SPJ1
mm company predicts sales of 50,000 for may ,the company manger salary 4,900 plus 6% sales dollars the production manager found a way to reduce the amount of packaging the company uses may sales are predicted to increase by 8% in addition the shipping costs decrease from 4% to 3%
Answers
Answer:
1. $54,000
2. $9,760
Explanation:
1) Computation of budgeted sales
Budgeted sales = $50,000 + ( $50,000 × 8%)
Budgeted sales = $50,000 + $4,000
Budgeted sales = $54,000
Therefore the Budgeted sales will be $54,000
2). Calculation for the budgeted selling expenses for May using this formula
Budget selling expense for May= Manager salary + ( Commission on budget sales) + (Shipping cost on budget sales)
Let plug in the formula
Budget selling expense for May= $4,900 + ($54,000 × 6%) + ( $54,000 × 3%)
Budget selling expense for May= $4,900 + $3,240 + $1,620
Budget selling expense for May=$9,760
Therefore the Budget selling expense for May will be $9,760
PLEASE QUICK HELP 35 POINTS!!!!!!!!!!!!! MC
Answers
Answer:
A.) Paying taxes
Explanation:
People pay taxes and that's what the city they live uses to make new projects like a building or new roads etc.
Answer:
Spending
Explanation:
got a 100 on this
There is a connection between the content of an advertisement and the characteristics of the media used to carry the message. This activity is important because each alternative of media is more suited to accomplishing different objectives than others. Also, all media choices have particular advantages and disadvantages that should be taken into account when planning a media strategy.
The goal of this activity is to demonstrate your understanding of the advantages and disadvantages of the various types of media available for advertising.
Read each advantage or disadvantage and match it to the type of media it best represents.
1 Newspapers
2 Direct marketing
3 Radio
4 Television
5 Magazine
6 Outdoor/billboard
7 Internet/mobile
Match each of the options above to the items below.
a. High cost: several channel and program options; may increase awareness of competitors' products.
b. Relatively inexpensive; can be selectively targeted; wide reach.
c. Very targeted; subscribers pass along to others.
d. Can be expensive some markets; advertisements have short life span.
e. Can be linked to detailed content; highly flexible and interactive; allows for specific targeting.
f. Is not easily targeted; has placement problems in some markets; exposure time is very short.
g. Highly targeted; allows for personalization.
Answers
Answer: a. Television
b. Radio
c. Magazine
d. Newspaper
e. Internet/Mobile
f. Outdoor/Billboard
g. Direct marketing
Explanation:
Based on the different types of media available, the answers to the items below will be:
a. High cost: several channel and program options; may increase awareness of competitors' products.
The above description is for Television.
b. Relatively inexpensive; can be selectively targeted; wide reach.
The above description is for Radio.
c. Very targeted; subscribers pass along to others.
The above description is for Magazine
d. Can be expensive some markets; advertisements have short life span.
The above description is for Newspaper.
e. Can be linked to detailed content; highly flexible and interactive; allows for specific targeting.
The above description is for Internet/Mobile
f. Is not easily targeted; has placement problems in some markets; exposure time is very short.
The above description is for Outdoor/Billboards
g. Highly targeted; allows for personalization.
The above description is for direct marketing
accrued expenses
1. Workers' salaries for the six-day week is P4,800 payable every Saturday. December 31 is a Thursday.
2. Water bill received December 26 in the amount of P890 will be paid January 7 of the following year.
Answers
Answer:
1. Accrued salaries expense as of December 31 would be calculated as follows:
Number of days from Saturday to Thursday = 5 days
Salary expense per day = P4,800 / 6 days = P800 per day
Accrued salaries expense = 5 days x P800 per day = P4,000
Therefore, the company would need to record an accrued salaries expense of P4,000 as of December 31.
2. Accrued water expense as of December 31 would be calculated as follows:
Number of days from December 26 to December 31 = 5 days
Water expense per day = P890 / 30 days = P29.67 per day
Accrued water expense = 5 days x P29.67 per day = P148.35
Therefore, the company would need to record an accrued water expense of P148.35 as of December 31.
Supervisor: "If you increase your current quality score of 85% by 7%, you will have a
score of
Answers
Answer:
90.95% (if you need to round it up, then its 91%)
Explanation:
7% of 85% is 5.95%. You add that to the 85%, and you get 90.95%! :]
Hope this helped!! :]
Large businesses depend on small businesses why?
Answers
Answer:
Small businesses can signal emerging trends and needs to large businesses
what is e-commerce ? definition
Answers
Answer:
Ecommerce, or electronic commerce, is a term that’s used often in sales discussions these days. Product sellers and service providers can increase sales through online commerce and boost revenue with ease. Selling online is a popular sales method, worldwide.
Explanation:
Hope it helps!
Select the correct answer.
In general, how long does it take to accomplish a long-term goal?
OA.
a few days to a week
OB.
a few weeks to a month
OC.
a few months to a year
OD.
more than a year
Answers
Based on the following information for Builtrite, calculate the current value of its stock if the current dividend is $3.00, a projected super normal growth for three years at 20%, the growth rate after year 3 should remain constant at 9% and you want to earn a 16% annual return. What would you be willing to pay for Builtrite stock?
Answers
Answer:
$61.35
Explanation:
The computation of the current value of the stock is shown below:
Current Dividend = D0 = $3.00
Super Normal growth for next 3 years = g1 = 20% or 0.20
Growth Rate after 3 year = g2 = 9% or 0.09
Required rate of Return = r = 16% or 0.16
Now
as we know that
Value of Share (P0) is
= [D1 ÷ (1 + r)] + [D2 ÷ (1 + r)^2] + [D3 ÷ (1 + r)^3] + [P3 ÷ (1 +r )^3]
Where
D1 = Dividend in year 1
D2 = Dividend in year 2
D3 = Dividend in year 3
P3 = Value of share at the end of year 3
Now first we have to compute the P3 value which is
P3 = D4 ÷ (r - g2)
= D0 × (1 + g1)^3 (1 + g2) ÷(r - g2)
= $3.00 × (1 + 0.20)^3 (1 + 0.09) ÷ (0.16-0.09)
= $5.65056
Now
Value of Share (P0) is
= [D1 ÷ (1 + r)] + [D2 ÷ (1 + r)^2] + [D3 ÷ (1 + r)^3] + [P3 ÷ (1 + r)^3]
= [D0 × (1 + g1) ÷ (1 + r)^1] + [D0 × (1 + g1)^2 ÷ (1 + r)^2] + [D0 × (1 + g1)^3 ÷ (1 + r)^3] + [P3 ÷ (1 + r)^3]
= [$3.00 × (1 + 0.20) ÷ (1 + 0.16)^1] + [$3.00 × (1 + 0.20)^2 ÷ (1 + 0.16)^2] + [$3.00 × (1 + 0.20)^3 ÷ (1 + 0.16)^3] + [$5.65056 ÷ (1 + 0.16)^3]
= $3.10 + $3.21 + $ 3.32 + $51.72
= $61.35
Which approach is a positive way to deal with conflicts?
Answers
Answer:
trying to evaluate the situation from all diff perspectives
Question 3 of 5
Which phrase best completes the diagram?
Protect citizens
Characteristics of
Governments
?
A. Support one religious group
B. Create a fair constitution
C. Make economic decisions
D. Give all citizens the right to vote
Divide political power
SUBMIT
Answers
Answer:
Not very sure but I think the answer is B or C
Which of the following would not be legal to put on an application blank?
Answers
Some of the contents on an application blank are:
Personal DataMarital Data, etcWhat is an Application Blank?This refers to the type of interview which is well structured and contains standardized questions which are determined in advance.
Please note that your question is incomplete so I gave you a general overview to help you get a better understanding of the concept.
Read more about application blank here:
https://brainly.com/question/25125788
ARTICLES OF ASSOCIATION
Answers
Answer:
Articles of association form a document that specifies the regulations for a company's operations and defines the company's purpose. The document lays out how tasks are to be accomplished within the organization, including the process for appointing directors and the handling of financial records.
In large high rise condominiums, each unit is owned by individual owners. The elevators, parking garage, and swimming pool are called: A. proprietary elements B. common area elements C. separate property D. community property
Answers
Answer:
B. common area elements
Explanation:
Common Area elements are those spaces in real estate that are meant for general use. They are not owned exclusively by one person but are rather shared by the people who live within the area. The people pay some maintenance fee to keep the common area elements in good conditions.
In condominiums, the elevators, parking garage, and swimming pools are collectively shared by residents, and they all pay for the maintenance of these properties. Therefore, they can be said to be Common Area elements. Common Area elements can be found in residential, business and Government-owned properties.
Answer:
B. common area elements
Explanation:
-Proprietary elements refer to something that has a trademark or it is protected by property rights and can only be used or sold by the owner.
-Common area elements refer to the parts of a condominium that can be used by all the people living there and that belong to all the owners.
-Separate property refers to a property that people get before marriage and doesn't count as part of the marital property.
-Community property refers to property purchased during marriage that is considered marital property.
According to this, the answer is that the elevators, parking garage, and swimming pool are called common area elements.
explain all the dimensions of Management functions in Human Resource management
Answers
Answer:down
Explanation:The four dimensions of human resource management practices are: Managing The Human Resource Environment, Acquisition and Preparation of Human Resources, Assessment and Development of Human Resources, and Compensation of Human Resources as stated by Noe et al (2010).
Answer: HR managers carry out a variety of tasks to ensure a business runs smoothly. The various dimensions of management functions in Human Resource management are as follows:
Explanation:
a. Planning
Planning for various things, from the hiring process to training and development programs, is the most crucial duty of an HR manager. Planning lays the foundation for other HR management responsibilities, such as determining job qualifications and the organization's need for recruitment.
b. Organizing
An HR manager is responsible for performing this role after the planning phase (discussed above) is finished. To meet the requirements and wants of the workforce while achieving business goals, they must create strategies and programs.
c. Directing
To carry out the goals and plans they have developed, HR managers need personnel. As a result, they lead their teams in a way that carries out the manager's goals and strategies. They assign tasks to the team members and keep tabs on their performance to assess their progress.
d. Controlling
One of the most significant managerial duties and obligations of an HR manager is this. In doing so, the HR manager monitors deviations, corrects them, and compares the results to the objectives. This entails tasks like audits and appraisals.
To learn more about Human Resource Management, refer to:
https://brainly.com/question/14419086
Discuss the various levels of management in the organization
Answers
Answer:
The three levels of management typically found in an organization are low-level management, middle-level management, and top-level management. Low-level managers focus on controlling and directing. They serve as role models for the employees they supervise.
You are an economics professor teaching large sections of Principles courses this semester. Within the first week of class,
several students have approached you with concerns about exam and homework due dates. They fear they won't do well
because the due dates for your class conflict with the dates for their other classes. You want to allocate exam and homework
due dates to the days most valued by students, but sifting through the opinions of hundreds of students presents a challenge.
The MOST efficient allocation would result if you:
design a predictions market for students to designate when they think the dates will be.
b. create an internal market for students to bid for their preferred dates.
C.
use your centralized power as a professor to assign the dates without student input.
d. determine that you have a knowledge problem when assigning dates
Answers
The MOST efficient allocation of exam and homework due dates for students who have concerns due to conflicting schedules with other classes is to create an internal market for students to bid for their preferred dates.The correct answer is option-b.
A market is the most efficient mechanism for allocating goods and services according to the preferences of consumers. Students who have conflicting schedules can bid for their preferred exam and homework due dates through an internal market.
This method has the advantage of providing the exam and homework due dates to those who are willing to pay the most for them. By using the internal market, the professor can allocate the dates in the most efficient manner without sifting through the opinions of hundreds of students.
This method is also fair as it gives students the opportunity to choose their preferred dates based on their schedule constraints, and it reflects the value that students place on certain exam and homework due dates.
Therefore, the correct answer is option-b.
For more question on market
https://brainly.com/question/30665904
#SPJ8
How does the ipencil film explain the economics concepts of rational behavior and economic self intrest
Answers
The iPencil film explains rational behavior and economic self-interest by illustrating how the market works. The film shows how different participants in the market make decisions based on their individual interests.
What do you know about iPencil film?
iPencil is a documentary film that follows the journey of the Apple Pencil from concept to production. The film reveals the incredible engineering, design, and manufacturing process that goes into making the Apple Pencil. The film focuses on the development of the Pencil's unique features, such as its pressure sensitive tip, palm rejection, and tilt sensitivity. It also highlights the use of advanced manufacturing technologies such as CNC machining, injection molding, and laser engraving. The film dives into the story of the amazing people involved in the development of the Pencil and the passion they put into making the product. It offers an inside look at Apple's culture and the innovation that is behind the development of the Pencil. iPencil is a must-see film for anyone interested in the history and development of the Apple Pencil.
So, The iPencil film explains rational behavior and economic self-interest by illustrating how the market works.
To learn more about iPencil film:
https://brainly.com/question/9659940
#SPJ1
Explain Theory X and Theory Y management styles.
Answers
Whereas Theory X emphasizes the necessity of increased monitoring, outside rewards, and penalties, Theory Y emphasizes the significance of job pleasure as a motivator and encourages employees to approach jobs without direct supervision.
What is management theory X?The foundation of Theory X management is the idea that employees lack ambition and intrinsic motivation. Managers provide motivation by closely monitoring employees' work and ensuring that it was done appropriately.
What do Theories X and Y mean?Management theories created by Douglas McGregor include Theory X and Theory Y. Theory X is predicated on the notions that workers are unmotivated, lack motivation, only labor for compensation, and require continual supervision. Theory Y is predicated on the notions that workers desire employment, desire to assume responsibility, and do not require much supervision.
To Know more about management
https://brainly.com/question/29023210
#SPJ1
Digger, Inc. paid $100,000 for the rights to mineral deposits containing an estimated 20,000 tons of ore. Digger paid an additional $20,000 for exploration and development and estimated there would be no salvage value once the ore was fully extracted. Calculate depletion expense if Digger extracted and sold 8,000 tons of ore?
Answers
The depletion cost if Digger extracted and sold 8,000 tons of ore will be $ 48,000.
Depletion costs is computed by multiplying the number of units of ore that are extracted and sold by the cost of the mineral rights, exploration, and development.
Calculate depletion expense if Digger extracted and sold 8,000 tons of ore?The other type of depletion is called percentage depletion, and it is computed by increasing the gross income from resource extraction for the tax year by a percentage that has been set by the IRS for each resource. Depletion expense, for instance, would be equal to gross income multiplied by 22% if the percentage was 22%.
Mineral rights, exploration, and development will cost $100,000 + $20,000, or $120,000 total. There are 20,000 tonnes of expected ore.
The depletion rate is $120,000 divided by 20,000 tonnes, or $6 per tonne of ore. The depletion expense would be as follows if Digger mined and sold 8,000 tonnes of ore: $48,000 is the depletion cost ($6/tonne × 8,000 tonnes).
To Know more about Depletion Cost:
brainly.com/question/14117351
#SPJ9
Blow to McDonald's in case over its refusal to advertise on black-owned stations
A federal judge has allowed a discrimination lawsuit to proceed that argues that McDonald's refuses to advertise on Black-owned media networks.
Media entrepreneur Byron Allen, who is Black, has accused McDonald's of instituting a "racially discriminatory contracting process" in a lawsuit first filed in May 2021.
As the owner of Entertainment Studios Networks and the Weather Group, which includes the Weather Channel, he sought $10 billion in damages alleging that McDonald's established "a two-tiered, race based system and shut plaintiff out of the general market (i.e. white-owned media) tier."
However, a federal judge dismissed the suit in December, saying that the allegations were not sufficiently supported.
Following a legal back-and-forth, the same judge on Friday denied a request by McDonald's to dismiss the case, thereby allowing it to proceed.
Allen alleged that were his company white-owned it "would have received tens of millions of dollars in advertising revenue from McDonald's on an annual basis."
He also alleged that McDonald's contracts with a separate advertising agency for "African-American media" with an aim of spending a budget that "is de minimis compared to the general market budget."
Allen argues his company had programming geared towards a variety of viewers, especially after its 2018 purchase of the Weather Channel, and that McDonald's has advertised on "similarly situated, white-owned networks."
Loretta Lynch, the former US attorney general who is now a partner at law firm Paul, Weiss representing McDonald's, said Allen's complaint was "about revenue, not race."
The "plaintiffs' groundless allegations ignore both McDonald's legitimate business reasons for not investing more on their channels and the company's long-standing business relationships with many other diverse-owned partners," she said.
Question
Elaborate on the FOUR (4) types of organisational conflict and assess which type of conflict is prevailing between McDonald and the Entertainment Studios Networks. In your opinion, what could be the two most likely sources of the conflict? Support your position.
Answers
Answer:
Explanation:
The four types of organizational conflict are as follows:
1. Task Conflict: This type of conflict arises when individuals or groups have differing opinions, ideas, or approaches regarding the tasks or goals of the organization. It typically involves disagreements over work methods, priorities, or resource allocation.
2. Relationship Conflict: Relationship conflict occurs when there is interpersonal friction, tension, or animosity between individuals or groups within an organization. It often stems from personal differences, clashes of personalities, or past conflicts.
3. Process Conflict: Process conflict arises from disagreements regarding the procedures, policies, or decision-making processes within an organization. It involves conflicting viewpoints on how things should be done, who should be involved, or how decisions should be made.
4. Structural Conflict: Structural conflict emerges from issues related to power, authority, and organizational structure. It occurs when there are disagreements over roles, responsibilities, reporting lines, or distribution of resources within the organizational framework.
In the case between McDonald's and Entertainment Studios Networks, it appears that the prevailing type of conflict is primarily task conflict. Byron Allen's discrimination lawsuit alleges that McDonald's has engaged in a racially discriminatory contracting process, specifically regarding advertising on Black-owned media networks. The conflict revolves around the task of advertising and the unequal treatment of Black-owned media networks compared to white-owned networks.
The two most likely sources of the conflict could be:
1. Economic Disparity: One possible source of the conflict is the economic disparity between Black-owned and white-owned media networks. Allen argues that if his company were white-owned, it would have received a significant amount of advertising revenue from McDonald's. The perceived unequal treatment in terms of advertising contracts and budget allocation could stem from economic disparities and historical marginalization of Black-owned businesses.
2. Representation and Inclusion: Another potential source of conflict is the issue of representation and inclusion. Allen claims that McDonald's contracts with a separate advertising agency for "African-American media" with a significantly smaller budget compared to the general market budget. This raises concerns about fair representation and inclusivity in advertising practices, as well as the perceived exclusion of Black-owned media networks from equal opportunities for advertising revenue.
These two sources of conflict, economic disparity and representation/inclusion, likely contribute to the task conflict between McDonald's and Entertainment Studios Networks. The conflict centers around the perceived discriminatory practices and unequal treatment in advertising contracts and budgets, which have implications for the economic viability and representation of Black-owned media networks.
if you earn an annual salary of $51,038.00 and are paid weekly, you earn how much each pay period?
Answers
Answer:
more money than i can deal with
but a period about 115$
Explanation: