Answer:
COGS= $122,000
Explanation:
Giving the following information:
Beginning finished goods inventory $48,000
Cost of goods manufactured $117,000
Ending finished goods inventory $43,000
To calculate the cost of goods sold, we need to use the following formula:
COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory
COGS= 48,000 + 117,000 - 43,000
COGS= $122,000
Answer: they will report an interest expense of $150000 in December 2020
Explanation:
firstly we calculate how much interest will be accumulated for the whole year so we are given a $5 million Dollar purchase which is the amount that will accumulate interest over time, then we have been told the company ha issued a 1 year installment note therefore we have a time frame.
so now we will calculate the yearly interest of $5 million :
$5 000000x12% = $600000 so the company will accumulate this interest yearly then we divide this amount by 12 to get the monthly interest.
$600000/12 = $ 50000 per month interest thereafter we will multiply the monthly interest of $50000 by 3 months which is months from October to December.
therefore the interest expense to be reported on the December 2020 income statement is $50000 x 3= $150000
"8.60" (and any subsequent words) was ignored because we limit queries to 32 words.
Answer:
Explanation:
a. Should he make the exchange?
Brett Produces almonds = 1050 tons
Owner of walnut produces = 774 tons
Market Price almond = $103 per ton
Market Price of walnuts = $114 per ton
Therefore
The market value of the almond crop = (1050 tons) x ($103)
= $108,150
The market value of the walnut crop = (774 tons) x ($ 114)
= $88,236
He should not make the exchange since the price of almond is high than walnuts
b. Does it matter whether he prefers almonds or walnuts?
Why or why not?
No. His preference is irrelevant to the value of the crops.
Is the above statement true or false? True
