Business, 18.03.2020 18:24 djcloverman3593

Orion Flour Mills purchased a new machine and made the following expenditures:

Purchase price $67,000
Sales tax 5,600
Shipment of machine 920
Insurance on the machine for the first year 620
Installation of machine 1,840

The machine, including sales tax, was purchased on account, with payment due in 30 days. The other expenditures listed above were paid in cash.
Required:
Record the above expenditures for the new machine.

Answers: 2

Show answers

Another question on Business

Business, 21.06.2019 19:40

Policymakers are provided data about the private and social benefits of a good being sold in the market. quantity private mb ($) social mb ($) 6 6 9 7 4 7 8 2 5 9 0 3 what is the size of the externality? if the externality is positive, enter a positive number. if negative, make it a negative number. $ given this data, policymakers must decide whether to address the associated externality with a subsidy or a tax. as their economic consultant, which of the two policy tools would you recommend? a subsidy a tax

Answers: 2

Answer

Business, 22.06.2019 05:50

1. all other things equal, according to the law of demand, when the price of a good falls, the demand for the good falls the demand for the good rises the quantity demanded of the good falls the quantity demanded of the good rises 2. when a market is in equilibrium, the quantity of the good that buyers are willing and able to buy exactly equals the quantity that sellers are willing and able to sell cannot be determined is less than the quantity that sellers are willing and able to sell is greater than the quantity that sellers are willing and able to sell 3. which of the following factors does not influence the demand for a good or service? consumer (buyer) income the price of related goods the number of sellers buyer expectations 4. when the number of sellers in a market increases, demand rises supply rises the price rises, all else equal the number of buyers falls

Answers: 1

Answer

Business, 22.06.2019 14:30

Stella company sells only two products, product a and product b. product a product b total selling price $50 $30 variable cost per unit $20 $10 total fixed costs $2,110,000 stella sells two units of product a for each unit it sells of product b. stella faces a tax rate of 40%. stella desires a net afterminustax income of $54,000. the breakeven point in units would be

Answers: 3

Answer

Business, 22.06.2019 23:00

Doogan corporation makes a product with the following standard costs: standard quantity or hours standard price or rate direct materials 2.0 grams $ 7.00 per gram direct labor 1.6 hours $ 12.00 per hour variable overhead 1.6 hours $ 6.00 per hour the company produced 5,000 units in january using 10,340 grams of direct material and 2,320 direct labor-hours. during the month, the company purchased 10,910 grams of the direct material at $7.30 per gram. the actual direct labor rate was $12.85 per hour and the actual variable overhead rate was $5.80 per hour. the company applies variable overhead on the basis of direct labor-hours. the direct materials purchases variance is computed when the materials are purchased. the materials quantity variance for january is:

Answers: 1

Answer

You know the right answer?

Orion Flour Mills purchased a new machine and made the following expenditures:

Purchase...

Questions

Business, 01.04.2020 15:25

Juan purchased shares in ABC company for $5,000 three years ago. During these three years he received $600 in dividends. He just sold the stock for $4...