On january 1, 2019, quenneville corporation sold equipment to wirtz, inc., for $500,000. the equipment had cost $300,000 to manu

Answer:

$78,000

Explanation:

For calculating the cost of the ending work in process

To begin, we will calculate the material cost per unit.

Material cost per unit = $220,000 / (40,000+15,000)

Material cost per unit= $220,000 / 55,000

Material cost per unit= $4

Next is to find the conversion cost per unit

Conversion cost per unit= $414,000 / (40,000 + (15,000*40%)

Conversion cost per unit= $414000 / 46000

Conversion cost per unit= $9

Now, it’s time to calculate the total cost per equivalent unit

Total cost per equivalent unit= $4 + $9

Total cost per equivalent unit= $13

Then, the equivalent unit of the ending work in process

Equivalent unit of the ending work in process= 15,000 × 40%

Equivalent unit of the ending work in process= 6,000

Finally, we calculate the cost of the ending work in process

Cost of the ending work in process = 6,000 × $13

Cost of the ending work in process = $78,000

Thus, the cost of the ending work in process is $78,000

Answer: The result is -2.42

Explanation:

P1 = $4 Q1 = 800

P2 = $4.50 Q2 = 600

Applying the midpoint formula, we calculate:

For price:

P2 - P1/(P2 + P1)/2

= 4.5 - 4/(4.5 + 4)/2

= 0.5/4.25

= 0.12

For quantity:

Q2 - Q1/(Q2 + Q1)/2

= 600 - 800/(600 + 800)/2

= -200/700

= -0.29

The price elasticity of demand is calculated as change in quantity/change in price

= -0.29/0.12

= -2.42.

Solution and Explanation:

Prada has an excess business loss totaling $ 40,000. She is entitled to utilize $ 250,000 from her share of the $580,000 LLC business loss to offset non-business income.

According to the IRS's updated limit, excess business loss for a single taxpayer exceeds $250,000. Any surplus beyond this threshold becomes disallowed and counted as an excess business loss, carryable to subsequent tax years.

Since Prada is single with a $(290,000)$ share from the total loss of $(580,000)$, the IRS stipulates she can apply up to $250,000 against her current non-business income while carrying forward the remaining excess business loss of $40,000, treated as part of the taxpayer's NOL carryforward.