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- Your company has a customer who is shutting down a production line, and it is your responsibility to dispose of the extrusion machine. The company could keep it in inventory for a possible future product and estimates that the reservation value is $200,000. Your dealings on the secondhand market lead you to believe that if you commit to a price of $250,000, there is a 0.5 chance you will be able to sell the machine. If you commit to a price of $300,000, there is a 0.2 chance you will be able to sell the machine. If you commit to a price of $350,000, there is a 0.1 chance you will be able to sell the machine. These probabilities are summarized in the following table. For each posted price, enter the expected value of attempting to sell the machine at that price. (Hint: Be sure to take into account the value of the machine to your company in the event that you are not be able to sell the machine.) Posted Price Probability of Sale Expected Value ($) ($) $350,000 0.1…Your company has a customer who is shutting down a production line, and it is your responsibility to dispose of the extrusion machine. The company could keep it in inventory for a possible future product and estimates that the reservation value is $100,000. Your dealings on the secondhand market lead you to believe that if you commit to a price of $200,000, there is a 0.4 chance you will be able to sell the machine. If you commit to a price of $300,000, there is a 0.25 chance you will be able to sell the machine. If you commit to a price of $400,000, there is a 0.1 chance you will be able to sell the machine. These probabilities are summarized in the following table. For each posted price, enter the expected value of attempting to sell the machine at that price. (Hint: Be sure to take into account the value of the machine to your company in the event that you are not be able to sell the machine.) Posted Price Probability of Sale Expected Value ($) ($) $400,000 0.1 $300,000 0.25…Suppose your company has just found $100,000 worth of outdated inventory in an old warehouse (this is the original manufacturing cost). Your boss asks you to consider two options: (1) re-engineer the outdated parts at a cost of $30,000, and ideally resell them for $60,000, or (2) scrap them for $15,000 cash (which is certain) in a second-hand market. What advice would you give your boss? Explain in your own words and give the data that supports your answer.
- Suppose your company has just discovered $100,000 worth (this is the original manufacturing cost) of obsolete inventory in an old warehouse. Your boss asks you to evaluate two options: (1) remachine the obsolete parts at a cost of $30,000 and then hopefully resell them for $60,000 or (2) scrap them for $15,000 cash (which is certain) through a secondhand market. What recommendation would you make to your boss? Explain your reasoning.Suppose your company has just found $100,000 worth of outdated inventory in an old warehouse (this is the original manufacturing cost). Your boss asks you to consider two options: (1) re-engineer the outdated parts at a cost of $30,000, and ideally resell them for $60,000, or (2) scrap them for $15,000 cash (which is certain) in a second-hand market. What advice would you give your boss? Explain in your own words.* Your answer is incorrect. Crane Company sells 302 units of its products for $20 each to John Inc. for cash. Crane allows John to return any unused product within 30 days and receive a full refund. The cost of each product is $13. To determine the transaction price, Crane decides that the approach that is most predictive of the amount of consideration to which it will be entitled is the probability-weighted amount. Using the probability-weighted amount, Crane estimates that (1) 9 products will be returned and (2) the returned products are expected to be resold at a profit. (a) Indicate the amount of net sales. Net sales $ (b) Indicate the amount of estimated liability for refunds. Liability for refunds $ Cost of goods sold 5869 (c) Indicate the amount of cost of goods sold that Crane should report in its financial statements Lassume that none of the products fave been returned at the financial statement date) 5 eTextbook and Media 171 Q Search 3913 (7
- Marigold Corp. has several outdated computers that cost a total of $17800 and could be sold as scrap for $3000. They could be updated for an additional $1600 and sold. If Marigold updates the computers and sells them, net income will increase by $9000. At what price were the updated versions sold? O $14800 O $26800 O $13600 O $12000Crane Company is starting business and is unsure of whether to sell its product assembled or unassembled. The unit cost of the unassembled product is $60 and Crane Company would sell it for $135. The cost to assemble the product is estimated at $20 p unit and Crane Company believes the market would support a price of $167 on the assembled unit. What is the correct decisio using the sell or process further decision rule? O Process further, the company will be better off by $32 per unit. O Sell before assembly, the company will be better off by $ per unit. O Sell before assembly, the company will be better off by $20 per unit. O Process further, the company will be better off by $12 per unit. Save for Later Attempts: 0 of 1 used Submit AnswerThe Model Y is currently in production and it renders the Model X radio obsolete. If the remaining 500 units of the Model X are to be sold through regular channels, what is the minimum price the company would accept for the radios?
- Vaughn Manufacturing is starting business and is unsure of whether to sell its product assembled or unassembled. The unit cost of the unassembled product is $65 and Vaughn Manufacturing would sell it for $145. The cost to assemble the product is estimated at $28 per unit and Vaughn Manufacturing believes the market would support a price of $178 on the assembled unit. What is the correct decision using the sell or process further decision rule and why? Process further because profits will be greater by $33 per unit. Sell before assembly because profits will be greater by $33 per unit. Sell before assembly because profits will be greater by $28 per unit. O Process further because profits will be greater by $5 per unit. eTextbook and Media Save for Later Attempts: 2 of 3 used Submit Answersheffield corp has several outdated computers that cost a total of 19400 and could be sold as scrap for 6000. they could be updated for additonal 2500 and sold. if sheffield updates the computers and sells them net income will increase by 9000. what amount would be considered sunk costs a)2500 b)21900 c)9000 d)19400Sheffield Corp. is unsure of whether to sell its product assembled or unassembled. The unit cost of the unassembled product is $27 and Sheffield would sell it for $62. The cost to assemble the product is estimated at $19 per unit and the company believes the market would support a price of $66 on the assembled unit. What decision should Sheffield make and why? O Process further because the company will be better off by $16 per unit. O Sell before assembly because the company will be better off by $15 per unit. O Sell before assembly because the company will be better off by $4 per unit. O Process further because the company will be better off by $12 per unit.