Determining asset cost, preparing depreciation schedules (3 methods), and identifying depreciation results that meetmanagement objectiveson january 3, 2015, rapid delivery service purchased a truck at a cost of $100,000. before placing the truck in service, rapid spent $3,000 painting it, 5600 replacing tires, and $10,400 overhauling the engine. the truck should remain inservice for five years and have a residual value of $12,000. the truck’s annual mileage is expected to be 32,000 miles ineach of the first four years and 8,000 miles in the fifth year—136,000 miles in total, in deciding which depreciation methodto use, andy sargeant, the general manager, requests a depreciation schedule for each ofthe depreciation methods(straight-line, units-of-production, and double-declining-balance).requireme nts1. prepare a depreciation schedule for each depreciation method, showing asset cost, depreciation expense, accumulateddepreciation, and asset book value,2 rapid prepares financial statements using the depreciation method that reports the highest net income in the earlyyears of asset use, consider the first year that rapid uses the truck identify the depreciation method that meets thecompany’s objectives.

Gino's restaurant is a popular restaurant in boston, massachusetts. the owner of the restaurant has been trying to better understand costs at the restaurant and has hired a student intern to conduct an activity-based costing study. the intern, in consultation with the owner, identified the following major activities: activity cost pool activity measure serving a party of diners number of parties served serving a diner number of diners served serving drinks number of drinks ordered some costs, such as the cost of cleaning the linens that cover the restaurant's tables, vary with the number of parties served. other costs, such as washing plates and glasses, depends on the number of diners served or the number of drinks served. data concerning these activities are shown below. serving a party serving a dinner serving drinks total total cost $47,600 $153,000 $59,800 $260,400 total activity 7,000 parties 30,000 diners 46,000 drinks prior to the activity-based costing study, the owner knew very little about the costs of the restaurant. she knew that the total cost for the month was $260,400 and that 30,000 diners had been served. therefore, the average cost per diner was $8.68.required: 1. compute the activity rates for each of the three activities 2. according to the activity-based costing system, what is the total cost of serving each of the following parties of diners? a. a party of four diners who ordered three drinks in total b. a party of two diners who do not order any drinks c. a lone diner who orders two drinks 3. convert the total costs you computed in part (1) above to costs per diner. in other words, what is the average cost per diner for serving each of the following parties: a. a party of four diners who order three drinks in total b. a party of two diner who do not order any drinks c. a lone diner who orders two drinks 4. why do the costs per diner for the three different parties differ from each other and from the overall average coast of $9.80 per diner?

Margaret company reported the following information for the current year: net sales $3,000,000 purchases $1,957,000 beginning inventory $245,000 ending inventory $115,000 cost of goods sold 65% of sales industry averages available are: inventory turnover 5.29 gross profit percentage 28% how do the inventory turnover and gross profit percentage for margaret company compare to the industry averages for the same ratios? (round inventory turnover to two decimal places. round gross profit percentage to the nearest percent.)

(a) what was the opportunity cost of non-gm food for many buyers before 2008? (b) why did they prefer the alternative? (c) what was the opportunity cost in 2008? (d) why did it change?