A company had the following purchases and sales during its first year of operations January: February: May: September: November: Multiple Choice $3,200. On December 31, there were 26 units remaining in ending inventory. Using the periodic LIFO inventory costing method, what is the cost of the ending inventory? (Assume all sales were made on the last day of the month.) O $3.270 O $5,400 Purchases 10 units at $120 20 units at $125 15 units at $130 O $3.364 12 units at $135 10 units at $140 Sales 6 units 5 units 9 units 8 units. 13 units
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- COst Flow Methods The following thren identical units of Item K113 are purchased during April Item Beta Units Cost April 2 Purchase $153 April 15 Purchase 155 April 20 Purchase 157 Total $465 Average cost per unit $155 (s4653 units) Assume that one unit is sold on Apri 27 for $219. Detemime the gross profit for April and ending ventory on April 30 using the (a) first-in, first-out (FIro), (b) last-n, first out (LIFO); and (c) weighted average cost method. Gross Profit Ending Inventory a. First-in, first-out (FIFO) b. Last-in, first-out (LIFO) Weighted average costActivities/Assessments: Activity 9 Solve the following EOQ model problems: 1. Each year, Y Company purchases 20,000 units of an item that costs P 640 per unit. The cost of placing an order is P 480, and the cost to hold the item in inventory for one year is P 150. a. Determine the EOQ. b. What is the average inventory level, assuming that the minimum inventory level is zero? c. Determine the total annual ordering cost and the total annual holding cost for the item if the EOQ is used. 2. A toy manufacturer uses approximately 32,000 silicon chips annually. The chips are used at a steady rate during the 240 days the plant operates. Annual holding cost is P27 per chip and ordering cost is P1,080. Lead time = 1 week. a. Find the EOQ. b. Find the reorder point. c. What would be your ordering policy for this item? d. Find the total annual cost of ordering and carrying silicon chips. 3. A large bakery buys sugar in 50-kg bags. The bakery uses an average of 1,344 bags a year. Preparing an order…Radakrishnan Corporation begins business in 20X5, decides to use LIFO costing, and makes the following purchases in 20X5: Purchase Date Units Purchased February 12 May 4 July 18 September 11 November 1 December 8 Total AO B 600 C 2,300 2,900 2,200 $128,423 4,800 $112,874 1,100 13,900 $122,481 Unit Cost $105,741 $32 $34 $35 $38 $40 $44 Total Cost $19,200 Radakrishnan's 20X5 year-end physical count yields 4,600 units, and its 20X6 physical count yields 3,100 units. What is Radakrishnan's 20X6 ending inventory? When calculating the cost per unit, round the calculated result to two decimal places (for example, $30.10). 78,200 101,500 83,600 192,000 48,400 $522,900
- Sterling Corporation has an EOQ of 5,000 units. The company uses an average of 500 units per day. An order to replenish the part requires a lead time of five days. Required: 1. Calculate the reorder point, using Equation 20.3. 2. Graphically display the reorder point, where the vertical axis is inventory (units) and the horizontal axis is time (days). Show two replenishments, beginning at time zero with the economic order quantity in inventory. 3. What if the average usage per day of the part is 500 units but a daily maximum usage of 575 units is possible? What is the reorder point when this demand uncertainty exists?2.3 REQUIRED Calculate the annual economic order quantity from the information provided below. INFORMATION The following details have been supplied by Yolo Limited for one of its products: Monthly sales 6 000 units Carrying costs as a percentage of the unit purchase price 10% Purchase price per unit R50 Cost of placing an order R20× ひ Remaining Time: 1 hour, 54 minutes, 34 seconds. * Question Completion Status: QUESTION 11 A company had the following purchases during its first year of operations: Purchases January April May Sales 15 units at $ 5 20 units at $ 4 30 units at $14 The company uses the weighted-average method to determine the cost of its inventory. A) What is the weighted average cost per unit in May (round to two decimal place if necessary)? B) What is the cost of goods sold in May? C) What is the cost of ending inventory in May? For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BIUS Paragraph Arial 10pt Click Save and Submit to save and submit. Click Save All Answers to save all answers. F6 F3 F2 esc F1 24 L. #3 @ 3. し、 E a つ9 13 .
- Cost Flow Methods The following three identical units of Item JC07 are purchased during April: Item Beta. Units Cost April 2 April 15 April 20 Total Purchase Purchase a. First-in, first-out (FIFO) b. Last-in, first-out (LIFO) c. Weighted average cost Purchase 1 1 1 3 $76 80 84 $240 $80 Average cost per unit ($240 + 3 units) Assume that one unit is sold on April 27 for $106. Determine the gross profit for April and ending inventory on April 30 using the (a) first-in, first-out (FIFO); (b) last-in, first-out (LIFO); and (c) weighted average cost method. Gross Profit Ending Inventoryentory Management - Spring21 Time left 1:06:07 on A company has 52 week per year operation. The weekly demand is for product it needs is 20 units and it costs OMR 2500 per unit to purchased. The cost of reordering is OMR 50 each order. The annual holding cost is OMR 660 per unit. Which economic order quantity policy, either round-up or round-down for inventory ordering to be used here to minimize total The corresponding order quantity will be ventory cost per year? of a. None is correct O b. 12 O C. 13 d. 14 O e. 15 FINISH ATTEMPT ...Green Tea’s data show the following information for the financial year, beginning July 2020: July Aug. Sept. Oct. Nov. Estimated sales (units) 25,000 25,000 27,000 27,500 28,000 Sales price per unit $31 $31 $31 $31 $31 Direct labour per unit $1.75 $1.75 $1.50 $1.50 $1.50 Labour rate per hour $21 $21 $24 $24 $24 New machinery will be added in September. This machine will reduce the labour required per unit and increase the labour rate for those employees qualified to operate the machinery. Finished goods inventory is required to be 20% of the next month’s requirements. Direct material requires 2.5 kg per unit at a cost of $5 per kg. The ending inventory required for direct materials is 20% of the next month’s needs. In July, the beginning inventory is 3,750 units of finished goods and 13,125 kg of materials. Required: i) Prepare a production budget for the first quarter of the year (i.e. July – September).…
- Clas Cop Hig Hig Cer Bra Sca Shopping No Sac lov engagenow.com/ilm/takeAssignment/takeAssignmentMain.do?inprogress=true C 中 eBook Instructions: 1. Determine the estimated units of sales of the overall product necessary to reach the break-even point for the current year. 2,320 units 2. Based on the break-even sales (units) in part (1), determine the unit sales of both Kayaks and Canoes for the current year. Kayaks Canoes units 928 1,392 units 3. Assume that the sales mix was 60% Kayaks and 40% Canoes. Determine the estimated units of sales of the overall product necessary to re break-even point for the current year. units 4. Based upon the break-even sales (units) in part (3), determine the unit sales of Kayaks and Canoes for the current year. Kayaks Canoes units units 5. The overall enterprise break-even point increased lower ✓ contribution margin per unit of product. Feedback from (1) to (3) because the sales mix is weighted more toward the product with the Check My Work 1-3. Subtract…mal failure or charged tn fatan, unhand ahat in h а. Р 20. Sheryl Corporation had been buying 1,200 units of Product A which represents a four month's supply. The cost per unit is P100; the order cost is P200 per order; and the annual inventory carrying cost for one unit is P25. Assume that the units will be required evenly throughout the year. What is the economic order quantity? а. 144 b. 240 c. 600 d. 1,200Show Attempt History Current Attempt in Progress Your answer is partially correct. Sage Co. has projected sales as follows: Month Units July 32,000 August 42,000 September 57,000 October 42,000 November 22,000