Suad Alwan, the purchasing agent for Dubai Airlines, has determined that the third plane took 20,000 hours to produce. Using an 75% learning curve and a $40-per-hour labor charge, he wants to determine the cost of the six additional planes. Time required for the sixth unit = hours (round your response to the nearest whole number). Cost of the sixth unit = 600,000 dollars (round your response to the nearest whole number). Time required for the seventh unit = 14,070 hours (round your response to the nearest whole number). Cost of the seventh unit = 562,800 dollars (round your response to the nearest whole number). Time required for the eighth unit = 13,312 hours (round your response to the nearest whole number). Cost of the eighth unit = 532,480 dollars (round your response to the nearest whole number).
Answers
The time required for the sixth unit is approximately 6,705 hours, and the cost is approximately $268,200. The time required for the eighth unit is approximately 13,312 hours, and the cost is approximately $532,480. These calculations are based on a 75% learning curve, where each doubling of production reduces the time required by 25%.
The learning curve concept is based on the observation that as cumulative production doubles, the time required to produce each unit decreases by a certain percentage. In this case, we are given a 75% learning curve, which means that for each doubling of production, the time required to produce each unit will decrease by 25%.
To determine the time required for the sixth unit, we can use the learning curve formula:
Time for nth unit = Time for first unit × (n^log(learning curve))/log(2)
Given that the third unit took 20,000 hours to produce, we can plug in the values to find the time required for the sixth unit:
Time for sixth unit = 20,000 × (6^log(0.75))/log(2) ≈ 6,705 hours
Therefore, the time required for the sixth unit is approximately 6,705 hours.
To calculate the cost of the sixth unit, we multiply the time required by the labor charge per hour:
Cost of sixth unit = Time for sixth unit × labor charge = 6,705 × $40 = $268,200
Therefore, the cost of the sixth unit is approximately $268,200.
For the subsequent units, we can use the same approach. The time required for the seventh unit is given as 14,070 hours, and the cost is given as $562,800. We can use these values to determine the learning curve:
14,070 = 20,000 × (7^log(learning curve))/log(2)
Solving this equation for the learning curve, we find that the learning curve is approximately 0.856.
Using this learning curve, we can find the time required for the eighth unit:
Time for eighth unit = 14,070 × (8^log(0.856))/log(2) ≈ 13,312 hours
Therefore, the time required for the eighth unit is approximately 13,312 hours.
Similarly, we can calculate the cost of the eighth unit:
Cost of eighth unit = Time for eighth unit × labor charge = 13,312 × $40 = $532,480
Therefore, the cost of the eighth unit is approximately $532,480.
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Related Questions
Which of the following statements is CORRECT?a. Diversifiable risk can be reduced by forming a large portfolio, but normally even highly-diversified portfolios are subject to market (or systematic) risk.b. A large portfolio of randomly selected stocks will have a standard deviation of returns that is greater than the standard deviation of a 1-stock portfolio if that one stock has a beta less than 1.0.c. A large portfolio of stocks whose betas are greater than 1.0 will have less market risk than a single stock with a beta = 0.8.d. If you add enough randomly selected stocks to a portfolio, you can completely eliminate all of the market risk from the portfolio.e. A large portfolio of randomly selected stocks will always have a standard deviation of returns that is less than the standard deviation of a portfolio with fewer stocks, regardless of how the stocks in the smaller portfolio are selected.
Answers
Answer:
a. Diversifiable risk can be reduced by forming a large portfolio, but normally even highly-diversified portfolios are subject to market (or systematic) risk.
Explanation:
Diversifiable risk can as well as be regarded as unsystematic risk, it is specific risk of a firm which impacts the price of the stock of individual rather than affecting the industry as a whole or sector where the the firm is carrying out it's operation. It a risk whereby there is possibility that change in the price of a security will be experienced because of the specific characteristics that the security have. It should be noted that Diversifiable risk can be reduced by forming a large portfolio, but normally even highly-diversified portfolios are subject to market (or systematic) risk.
What helps a consumer determine the quantity of something to buy?
marginal cost
marginal error
marginal benefit
marginal comparison
Answers
Answer:
marginal cost
Explanation:
"Marginal cost" plays a role when it comes to the quantity that consumers may actually buy for a particular product. If a company decides to produce many bags of good quality at a lower price, the company will be able to save money because over time, they will tend to choose a bulk purchase in which they'll be able to save money. Thus, their marginal cost will decrease. In this case, they can also lower the price for each bag. So, this means that their bags will not be expensive for consumers to buy and the more quantity the consumers will be willing to purchase.
Answer: The answer should be:
A: marginal cost
Explanation:
Edge 2023
Hope this helps! (^_^)
FIRST SCENARIO: The economy has taken a turn for the worse. The president believes the government should get the economy moving again. According to the president, the problem is that markets are flawed and they do not protect consumers. Therefore, the government should study the problem, decide what must be produced, and pass laws that require individuals and businesses to follow the government’s informed advice.
Opponents of the president see a different world. They say central planners do not have enough information to organize an economic system. Markets may seem chaotic, but prices act as signals and respond quickly to fragmented information in a dynamic economy. These price signals provide consumers, businesses, and resource owners with the information they need to coordinate action. In addition, incentives matter. Government programs often create incentives that have unintended consequences. The economy will grow if we stay the course.
What would Adam Smith say? Why?
SECOND SCENARIO: The Save Our Jobs Coalition is working to pass a law that would penalize businesses that move jobs overseas. In addition, the law would require tariffs to be imposed on imported goods that are cheaper than similar goods made in the United States. Many corporations and small businesses are in favor of raising tariffs.
Opponents of the proposed law believe freer trade promotes economic progress because it makes more sense to buy goods from a country that makes them less expensively and use the country‟s resources to make other products. A tariff may save jobs in a particular industry, but other jobs will not be created. Furthermore, prohibiting American companies from having operations overseas means the companies will be reluctant to hire people domestically and will lay off highly paid workers in their quest to cut costs.
What would Adam Smith say? Why?
THIRD SCENARIO: Business lobbyists believe the current government is anti-business. They also think competition is making it difficult to make a profit. They believe it’s time for the government to help businesses through subsidies and incentives for consumers to buy their products. They also want the government to suspend antitrust laws and make new rules and regulations that would make it more difficult for small businesses to compete unfairly with large, well-established corporations. According to the lobbyists, helping business will improve everyone’s lives.
What would Adam Smith say? Why?
FOURTH SCENARIO: “Stop Government Now” is a group that believes there is no legitimate role for government except providing for police and fire protection. Members believe almost all governmental functions should be privatized. Markets should not be regulated. Members say markets may be greedy, but free markets make us all more moral.
What would Adam Smith say? Why?
MUST WRITE A PARAGRAPH FOR EACH SCENARIO
Answers
The proposed response of Adam Smith based on each scenario is given below:
Scenario 1He would say that the pricing system should remain the main determinant of the market and the interference of the government was uncalled for.
Scenario 2He would side with the free market system and be an opponent of the law that frowns on importation.
Scenario 3He would support the suspension of the antitrust laws.
Scenario 4He would believe that markets should not be regulated and the free market system should continue.
Who is Adam Smith?He is the father of modern economics for his work in pioneering ideas such as free trade and the gross domestic product
Hence, we can see that the proposed response of Adam Smith based on each scenario is given above.
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Help please 70 points and will mark brainliest!!!
Answers
Answer:
20th August 2021
Wikipedia
nestle
Answer:
e
Explanation:
it makes the most sense
this shows a lender, if you have a good track record of paying debts. A. loan B.profit planning C. SBA D. credit rating
Answers
Answer:
The big three C's – Credit, Capacity, and Collateral – are really the drivers how lenders determine who gets a loan, how much they'll loan, and what the interest charge will be.Whom does the government and public administration career clutter serve?
A. Private citizens
B. Army and navy
C. Government employees and the military
D. National security and the foreign service
Answers
Answer:
it is A. Private citizens
Explanation:
edge 2020 :)
6. You are either only a natural saver or a natural spender. You cannot have a balance of
both.
True
False
Answers
What are two responsibilities of a Lean-Agile Center of Excellence? (Choose two. )
To help establish relentless improvement
To coordinate Portfolio Level events
To lead Inspect and Adapts events
To implement a new organizational structure
To foster SAFe Communities of Practice
Answers
Two of a Lean-Agile Center of Excellence's duties are: To promote continuous progress, SAFe Communities of Practice should be promoted.
A focused group inside an organisation known as a Lean-Agile Center of Excellence is in charge of promoting and assisting in the adoption of Lean-Agile concepts, methods, and principles. A Lean-Agile Center of Excellence's main objective is to make sure that the firm can continuously enhance its business processes and produce better results. This entails assisting teams with coaching and direction, enabling the adoption of fresh approaches, and promoting an innovative and lifelong learning culture. A Lean-Agile Center of Excellence is also in charge of overseeing Inspect and Adapts events, supporting SAFe Communities of Practice, and organising Portfolio Level events. Organizations can increase their capacity to adjust to shifting market conditions, deliver value to consumers more successfully, and accomplish these goals by building a Lean-Agile Center of Excellence.
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Need help answer this question please help me
Answers
Answer:
b). 4 and 14 units
Explanation:
The equilibrium point is the intersection of demand and supply curves. It is a condition of no excess or shortage in supply or demand in the market. At equilibrium, the quantity demand matches the quantity supplied.
At the equilibrium situation, buyers are willing to purchase the quantity supplied at the stated price. It implies both suppliers and buyers are happy with the current supply and price.
How has banking changed in the past 200 years of our nation's history?
Answers
Banking has changed in the past 200 years of our nation's history because:
Everything is digitized and more efficientBanking is the institution which basically keeps money of its customers and allows them to perform financial transactions, collect overdrafts, send and receive money, give interests and many more.
As a result of this, we can see that there are differences in how banking was two hundred years ago and today. Back then, banking was not digitized as people exchanged money by hand and stored their money wherever they felt was safe for them.
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Dan, Patricia and Jan decide to form Crane Corporation. Dan transfers land (fair market value (FMV) of $200,000, basis of $60,000) for 50% of the stock in Crane. Patricia transfer machinery (FMV of $150,000, adjusted basis of $30,000) for 35% and Jan performs services worth $20,000 for the remaining 15% of the stock.
Required: Assume that after formation Dan sells half of his interest in the company for $150,000. What is Dan’s recognized gain or loss on that sale?
Answers
Dan's recognized gain on the sale of half of his interest in Crane Corporation is $101351.35
What is Dan's recognized gain or loss on that saleTo calculate Dan's recognized gain or loss on the sale of half of his interest in Crane Corporation, we need to first determine his basis in the shares he sold.
Dan originally transferred land with a basis of $60,000 in exchange for 50% of the Crane Corporation's stock. Therefore, his basis in his shares is:
Basis = (FMV of land transferred / Total FMV of consideration received) x Total adjusted basis
Basis = ($200,000 / ($200,000 + $150,000 + $20,000)) x ($60,000 + $30,000 + $0)
Basis = 48648.65
Dan sold half of his interest in the company, which represents 25% of the total stock. The proceeds from the sale were $150,000, so we can calculate Dan's recognized gain or loss as follows:
Sales price = $150,000
Basis = $48648.65
Recognized gain = $150,000 - $48648.65 = $101351.35
Therefore, Dan's recognized gain on the sale of half of his interest in Crane Corporation is $101351.35
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on august 1, luang corporation signed a $30,000, 14%, 2-year note to help finance renovations being made to the corporation headquarters. assuming interest is accrued only when the year ends on december 31, the appropriate journal entry for the first year would be:
Answers
The journal entry for Luang Corporation getting a $30,000 note to help with finance renovations is:
Date Account Title Debit Credit
Dec. 31 Interest Expense $1,750
Interest Payable $1,750
The interest will be based on a period of 5 months because it was only acquired in August so will accrue from August to December.
The interest will therefore be:
= Amount x 5 months interest
= 30,000 x 14% / 12 months x 5 months
= $1,750
Expenses are debited so the interest expense will be debited. As interest is a liability, it will be credited to the interest payable account.
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1.what would be the ideal qualifications for the project engineering slot?
Answers
The ideal qualifications for the project engineering slot would include a degree in engineering, preferably in a relevant field such as mechanical or electrical engineering.
Additionally, experience in project management, including the ability to manage budgets, timelines, and teams, would be highly beneficial. Strong communication and problem-solving skills are also important for success in this role. Other qualifications that may be beneficial include experience with computer-aided design (CAD) software, familiarity with industry regulations and standards, and the ability to work well under pressure.
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Which Annotation tool provides the ability to convert the mouse icon when giving a presentation to better focus the
audience attention?
Arrow
O Ink Color
O Eraser
O Laser Pointer
Answers
Answer: I think it’s laser pointer. I’m taking the test right now.
Explanation:
Answer:
It's D laser pointer
Explanation:
You see a television commercial for a product you may want to buy, and there is a telephone number you must call to place an order. Because you don’t have anything with which to write down the number, you repeat it to yourself over and over again until you feel like you won’t forget it. This process is called ________.
Answers
If you repeat it to yourself over and over again until you feel like you won’t forget it. This process is called rehearsal.
What is rehearsal?Rehearsal is the act of rehearsing when preparing for an event so as to remember or not to forget what you have practice or learn.
Based on the given scenario repeating what you have learn or cram over and over again so as not to forget is called rehearsal.
Inconclusion repeating it to yourself over and over again until you feel like you won’t forget it is called rehearsal.
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Most businesses in the United States are:
a sole proprietorships
b. partnerships
c. corporations
d. separate entities
Answers
According to the business entities most business in the United states are sole proprietorships
The term business entities are defined as a business can begin operating they must determine what type of business entity they want to organize as.
Basically in the United States there are different business enterprises such as partnerships, proprietorships, LLC's, corporations, and others.
Here we have know that the most common forms of business are the sole proprietorship, partnership, corporation, and S corporation.
Here we also know that the Limited Liability Company (LLC) is a business structure allowed by state statute.
This one is also Legal and tax considerations enter into selecting a business structure.
Therefore, the correct option is (a).
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Sandra would like to organize LAB (a legal corporation) as either an S corporation or a C corporation for tax purposes. In either form, the entity is expected to generate an 8 percent annual before-tax return on a $675,000 investment. Sandra's marginal income tax rate is 37 percent and her tax rate on qualified dividends and net capital gains is 20 percent. LAB's income is not qualified business income (QBI), so Sandra is not allowed to claim the QBI deduction. Assume that LAB will distribute all of its earnings after entity-level taxes every year. Ignore the additional Medicare tax and the net investment income tax when computing your answers. Note: Round your intermediate computations to the nearest whole dollar amount.
a. How much cash after taxes would Sandra receive from her investment in the first year if LAB is organized as either an S corporation or a C corporation?
b. What is the overall tax rate on LAB's income in the first year if LAB is organized as an S corporation or as a C corporation? Note: Round your final answers to 2 decimal places
Answers
The overall tax rate on LAB's income in the first year would be 62.8 percent if organized as an S corporation and 33.0 percent if organized as a C corporation.
a). To calculate the cash after taxes that Sandra would receive from her investment in the first year if LAB is organized as either an S corporation or a C corporation:
Calculate the pre-tax income: $675,000 * 8% = $54,000If LAB is organized as an S corporation, calculate the taxable income: $54,000 * 37% = $33,780Calculate the after-tax income for an S corporation: $54,000 - $33,780 = $20,220If LAB is organized as a C corporation, calculate the corporate taxes: $54,000 * 21% = $11,340Calculate the after-tax income for a C corporation: $54,000 - $11,340 = $42,660Calculate the tax on the dividends for a C corporation: $42,660 * 20% = $8,532Calculate the final after-tax income for a C corporation: $42,660 - $8,532 = $34,128b). The overall tax rate on LAB's income in the first year would be 62.8% if organized as an S corporation and 33.0% if organized as a C corporation. If LAB is organized as an S corporation, Sandra would receive $20,220 after taxes. If LAB is organized as a C corporation, Sandra would receive $34,128 after taxes.
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ricardo has a debt ratio of 92 nd assets of $192,600. how much are his liabilities?
Answers
The debt ratio is a measure of a company's financial leverage, which is calculated by dividing its total liabilities by its total assets. In this case, Ricardo's debt ratio is 92, and his assets are $192,600. His liabilities are $17,719,200. To find his liabilities, we can use the formula:
Debt ratio = Liabilities / Assets
Rearranging the formula to solve for liabilities, we get:
Liabilities = Debt ratio x Assets
Plugging in the given values, we get:
Liabilities = 92 x $192,600
Liabilities = $17,719,200
Therefore, Ricardo's liabilities are $17,719,200.
Answer: $17,719,200.
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Question #7
Choose the era that best matches the statement given.
The ____ immediately followed the Great Depression.
Answers
Answer:
recession
Explanation:
The great recession followed the great depression
a business that buys goods from producers and sells them to retailers
a. retailer
b. manufacturing
c. builder
Answers
Wholesalers are individuals or companies that sell bulk goods at low prices, usually to retailers. The answer is option D.
The commercial wholesaler is an entity that buys goods from producers and resells them to companies, public bodies, other wholesalers or retailers.
The wholesaler is a person whose business consists of buying goods in bulk and reselling them in smaller quantities, for example to shops. Wholesale or distribution is the sale of goods or merchandise to retailers; industrial, commercial, institutional or other professional users; or other related wholesalers and sub-services.
Wholesale is one of the most important channels in the goods distribution chain. They buy products in large quantities directly from manufacturers or retailers and resell them in smaller units.
Question:
What kind of business buys goods from producers and later sells it to the retailers?
a. retailer
b. manufacturing
c. builder
d. wholesalers.
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Describe one accountability issue of a business
Answers
Answer:
Accountability in the workplace is about employees taking responsibility and ownership for their decisions, actions, performance and behaviour. Accountability in the workplace is also about building trust and staying committed to doing the right thing for the business consistently.
how did the industrial revolution affect economic relationships among nations?
Answers
The Industrial Revolution had a profound effect on the economic relations between nations. Some of the ways this relationship affects include:
Expansion of trade: The growth of manufacturing and the emergence of new industries led to an increase in international trade and the exchange of goods and services between countries.Creation of new markets: The expansion of trade creates new markets for goods, which allows countries to specialize in the production of certain products and increases their economic competitiveness.Rise of colonialism: The Industrial Revolution also led to the expansion of European colonial empires as countries sought new markets and sources of raw materials.Changes in labor patterns: The Industrial Revolution brought about significant changes in the way work was organized and performed, leading to new forms of labor exploitation and growth of the wage workforce.Development of financial systems: The growth in international trade and investment led to the development of new financial systems, such as banks and stock exchanges, which allowed cross-border capital flows.Overall, the Industrial Revolution changed economic relations between countries, leading to increased globalization and the establishment of new economic systems and patterns of trade and investment.
The Industrial Revolution was a period of rapid economic and social change that occurred between the late 18th and early 19th centuries. It is characterized by a shift from manual labour-intensive production methods to machine-based manufacturing processes and the widespread use of new technologies and innovations.
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John F. Kennedy belleved that a leader should be
A. in the military
B. elected
C.a lifelong student
Answers
Answer:
c
Explanation:
The _____ environment is the set of factors that directly influences a firm and its competitive actions and responses.
Answers
The collection of variables that directly affect a firm's competitive activities and responses is known as the micro-environment.
The set of factors that directly affect a firm's operation, its competitive actions, and its competitive responses make up the micro environment. These factors include the threat of new entrants, the power of suppliers, the power of buyers, the threat of product substitutes, and the level of rivalry among competitors.
The focus of the economic section is on the financial framework that businesses must function in. It covers things like interest rates, inflation rates, GDP, unemployment rates, levels of disposable income, and the overall expansion or contraction of the economy (Figure 3.5, "Economic Factors"). Additionally, the industrial setting has a more immediate impact.
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What’s the most expensive house Carlin could buy?
Answers
It is more useful to compare a company's inventory turnover with its own results from prior periods than with other companies' ratios ______.
Answers
The comparison is inadvisable because companies may use different accounting methods which may cause the turnovers to vary significantly.
What is the use of inventory turnover?The financial ratio is a tool that is used to know many times that a company has sold and replaced inventory during a given period.
However, because different companies use different accounting methods which may cause the turnovers to vary significantly, the decision is not advisable.
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It is more useful to compare a company's inventory turnover with its own results from prior periods than with other companies' ratios because companies may use different accounting methods which may cause the turnovers to vary significantly.
What are inventory and Inventory turnover?
Inventory is a raw material used in the production of finished goods or inventory is a finished goods ready for sale. To a manufacturer of chocolate, cocoa is an inventory; To the owner of a supermarket that sells chocolate, chocolate is an inventory. Inventory is a current asset.
Inventory turnover is the number of times a company sells its products. Inventory turnover in for an owner of supermarket will be higher than a manufacturer of automobiles.
To calculate inventory turnover: Cost of goods sold/average average
Why it is not good to compare inventory turnover with another comp[any?
We have 3 main types of computing inventory -
FIFO (First In, First Out)LIFO (Last In, First Out)WAC (Weighted Average Cost)And different companies can use any of the above to compute its closing inventory
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A company produces a special new type of TV. The company has fixed costs of $462,000,and it costs $1100 to produce each TV. The company projects that if it charges a price of $2300 for the TV, it will be able to sell 700 TVs. If the company wants to sell 750 TVs, however, it must lower the price to $2000. Assume a linear demand. If the company sets the price at $3500, how much profit can it earn?
Answers
The profit earned when the company sells the TVs at $3500 is $14,387,600.
Given information:
Fixed costs = $462,000
Cost of production per unit (TV) = $1100
Selling price for 700 units = $2300
Selling price for 750 units = $2000
It is given that the demand is linear. Therefore, the demand function will be linear in nature.
Slope of the linear demand function is calculated as follows:
Slope = (Change in price) / (Change in quantity)
= (2000 - 2300) / (750 - 700)
= -1.6667
Hence, the demand function is given as:
D(p) = 1666.67p + 1100000
where p is the price and D(p) is the quantity demanded for that price.
By putting p = 2300, we get:
D(2300) = 1666.67 × 2300 + 1100000D(2300)
= 3433333
The company can sell 700 TVs for a price of $2300.
Hence, the revenue from 700 TVs will be:
Revenue = Selling price × Number of units sold
Revenue = 2300 × 700
Revenue = $1,610,000
We can also calculate the revenue if the price of the TV is $2000
Revenue = Selling price × Number of units sold
Revenue = 2000 × 750
Revenue = $1,500,000
If the price of the TV is set to $3500, the demand will be:
D(p) = 1666.67p + 1100000D(p)
= 1666.67 × 3500 + 1100000D(p)
= 6775000
The company can sell 6775000/1100= 6159 TVs.
Now, we can calculate the profit:
Profit = Revenue - Cost
Profit at price $2300:
Profit = $1,610,000 - $1,232,000
Profit = $378,000
Profit at price $2000:
Profit = $1,500,000 - $1,237,000
Profit = $263,000
Profit at price $3500:
Profit = $21,566,500 - $7,178,900
Profit = $14,387,600
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In 18th century, what was the main reason of slow down of Indian Foreign Trade
Answers
Answer:
Introduction to India’s Foreign Trade:
Even being a typical poor underdeveloped country, India’s foreign trade was in a prosperous state during the period under review. In terms of volume of trade and the range of commodities entering into trading list, India was better placed compared to other contemporary underdeveloped countries. But that must not be viewed as an indicator of prosperity. Above all, her pattern of trade was definitely different from those of other underdeveloped countries.
India’s composition of trade (i.e., pattern of imports and exports) before 1813 included manufactured goods as well as primary articles in export list and metals and luxury products in the import list. But such pattern of trade was supplanted by the import of manufactured goods and exports of agricultural raw materials and food grains during much of the nineteenth and twentieth century. This must not be the sign of prosperity or cause for jubilation.
Explanation:
Rather, this situation generated much heat and controversy because, instead of being an engine of growth, foreign trade, as engineered by the British Government, exacerbated economic exploitation. It hampered the process of industrialization. It brought untold misery to the masses. Most importantly, of course partly the backwardness of Indian industry and agriculture is ‘the effect of its external trade which moulded into shape the productive mechanism of the country.’
To understand the nature of the controversy it will be fruitful to tell something about the history of India’s foreign trade during 1757 and 1947. The growth of foreign trade during the two centuries can be divided into following unequal periods: 1757 to 1813, 1814 to 1857, 1858 to 1914, and from 1915 to 1947.
The first period—the early years of the British East India Company (EIC)—is known as the ‘age of mercantilism’. During the period under consideration trade statistics is not available. However, some sort of institutional changes in trade took place during this period.
In the mid-18th century, Indian foreign trade was mainly conducted by the English, Dutch, French, and Portuguese traders and merchants. But the revolution of 1757 strengthened the supremacy of the British EIC. In the process, the EIC monopolized trade and ousted the other merchants and traders.
Do you think it makes sense for the government to alter prices in a market using price ceilings (such as rent control) and price floors (such as minimum wage or maintaining a high price for agricultural products)? Explain.
Answers
Answer:
As a government this isn't unusual. Unfortunately agricultural is and minimum wage is the issue
Answer:
As a government this isn't unusual. Unfortunately agricultural is and minimum wage is the issue
Explanation:
Garrison Corporation purchased a depreciable asset for $420,000 on January 1, 2015. The estimated salvage value is $42,000, and the estimated total useful life is 9 years. The straight-line method is used for depreciation. On January 1, 2018, Garrison changed its estimates to a useful life of 5 years from the current date with a salvage value of $70,000. What is the 2018 depreciation expense? Select one: O a. $44,800 O b. $42,000 OC $112,000 O d. $126,000 Oe. $132,000
Answers
To calculate the 2018 depreciation expense, we need to compare the revised estimated useful life and salvage value to the remaining useful life and book value of the asset.
Given:
Original cost of the asset: $420,000
Original estimated salvage value: $42,000
Original total useful life: 9 years
Revised estimated useful life: 5 years
Revised estimated salvage value: $70,000
First, let's calculate the original annual depreciation expense using the straight-line method:
Annual depreciation expense = (Original cost - Salvage value) / Total useful life
Annual depreciation expense = ($420,000 - $42,000) / 9 = $42,000
Next, we need to determine the book value of the asset at the beginning of 2018. Since the asset was purchased on January 1, 2015, the beginning of 2018 marks the start of the fourth year.
Accumulated depreciation at the end of 2017 = Annual depreciation expense * Years of depreciation
Accumulated depreciation at the end of 2017 = $42,000 * 3 = $126,000
Book value at the beginning of 2018 = Original cost - Accumulated depreciation at the end of 2017
Book value at the beginning of 2018 = $420,000 - $126,000 = $294,000
Now, we compare the revised estimated useful life and salvage value to the remaining useful life and book value of the asset:
Revised remaining useful life = Revised estimated useful life - Years of depreciation
Revised remaining useful life = 5 - 3 = 2 years
Since the remaining useful life is now 2 years, we need to calculate the revised annual depreciation expense:
Revised annual depreciation expense = (Book value at the beginning of 2018 - Revised salvage value) / Revised remaining useful life
Revised annual depreciation expense = ($294,000 - $70,000) / 2 = $112,000
Therefore, the 2018 depreciation expense for Garrison Corporation using the straight-line method, after the change in estimates, would be $112,000.
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