October November December Opening stock (units) 100 120 150 Closing stock (units) 120 150 130 Sales (units) 500 450 520 The cost of stock is £10 per unit with 40% of purchases for cash, 30% paid in the month after purchase and 30% paid two months after purchase. The number of units produced in November was A 440 B 480 C 520 D 560

October November December Opening stock (units) 100 120 150 Closing stock (units) 120 150 130 Sales (units) 500 450 520 The cost of stock is £10 per unit with 40% of purchases for cash, 30% paid in the month after purchase and 30% paid two months after purchase. The number of units produced in November was A 440 B 480 C 520 D 560

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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October November December Opening stock (units) 100 120 150 Closing stock (units) 120 150 130 Sales (units) 500 450 520 The cost of stock is £10 per unit with 40% of purchases for cash, 30% paid in the month after purchase and 30% paid two months after purchase. The amount of purchases in October were A £4,400 B £4,800 C £5,200 D £5,600
The following information relates to stock item 007: Price of stock item 007 GHS20 per unit Cost of placing an order GHS15 Annual storage costs 3% of purchase price Monthly usage of 007 7,500 units per month The economic order quantity for 007 (to the nearest unit) is OA. 463 units OB. 612 units OC. 1,604 units OD. 2,121 units
Find the closing stock using the stock valuation methods of FIFO and LIFO Data as follows: Jan.2 bought 400 units for $40 per unit. Feb.12 bought 500 units per $60 per unit April 18 sold 600 units for $70 per unit. June 20 bought 450 units for $90 per unit Sept.23 sold 250 units for $110 per unit
8. Stock-Out Costs Each stock-out of a product sold by Pingleni Company costs P 2,000 per occurrence. The carrying cost per unit of inventory is P 5 per year and the company orders 1,500 units of product 18 times a year at a cost of P 200 per order. The probability of a stock-out at various levels of safety stock is: Units of Safety Stock Probability of a Stock-Out 0 50% 200 30% 400 600 800 What is the optimal level of safety stock for Pingleni? a. 200 units b. 400 units C. d. 14% 5% 1% 600 units 800 units
Activity Tindo ltd buys and sells product Q-3. It values stock on the basis of last in first out (LIFO). On 1 June 2010, stock in hand consisted of 4,500 units which were acquired at ksh. 50 per unit. The operations for the month were as follows: Date Purchases Sales June 2 5,000 @ ksh.48 6,000 @ ksh. 60 5 5,500 @ ksh. 49 7 4,000 @ ksh. 50 11 7,000 @ ksh. 61 12 5,000 @ ksh. 50 13 6,000 @ ksh. 47 18 7,000 @ ksh. 62 19 8,000 @ ksh. 64 20 6,000 @ksh. 49.50 21 5,000 @ ksh. 65 22 7,000 @ ksh. 50 25 6,000 @ ksh. 49 26 2,000 @ ksh. 47 28 500 @ ksh. 60 29 14,000 @ ksh. 64 The company incurred operating cost of ksh. 450,000 during the month. Required: Prepare the stores ledger card. Determine the closing stock valuation. Prepare the trading account for the month.
maximum level and minimum level of stock from the information given bel Reorder quantity Minimum stock level to allow for emergencies 4,000 units 5 weeks- Average delivery time for suppliers Maximum stock level allowed by the management 4 weeks 20 weeks 250 units Average rate of consumption per week Minimum consumption in 4 weeks 800 units Calculate reorder level
Stock production and sales data from a single product of Sweetsop are given in the following: Period 1 Period 2 Period 3Production (units) 60 000 70 000 65 000Sales (unit) 60 000 55 000 65 000Opening stock (units) - - 15 000Closing stock (units) 15 000 5000 The financial data for the activity level of 60 000 units per period are as follows: Cost per unit $Direct material 2.50Direct labour 3.00Production overheads= 200% of direct labour 6.00Total cost per unit 11.50 Selling price per unit 18.00 Administrative overheads are fixed at $100 000 per period and half of the production overheads are fixed.RequiredFrom the above information :(1) Prepare the marginal and absorption…
10. XYZ has developed the following data from its Material A Safety stock Average (normally) daily use 280 240 180 1.000 200 Maximum daily use Minimum daily use EOQ Cost of placing an order Working days per year P20 250 days Lead time 6 days What is the average inventory?
Stock production and sales data from a single product of Sweetsop are given in the following: Period 1 Period 2 Period 3Production (units) 60 000 70 000 65 000Sales (unit) 60 000 55 000 65 000Opening stock (units) - - 15 000Closing stock (units) 15 000 5000 The financial data for the activity level of 60 000 units per period are as follows: Cost per unit $Direct material 2.50Direct labour 3.00Production overheads= 200% of direct labour 6.00Total cost per unit 11.50 Selling price per unit 18.00 Administrative overheads are fixed at $100 000 per period and half of the production overheads are fixed. Prepare the absorption costing statements for the three-period listedReconcile…
52-WEEK VOLUME NET HI 75.43 LO 45.86 STOCK (DIV) RJW 175 YLD% PE 19 2.9 100s 10 CLOSE CHANGE ?? -.55 a. What was the closing price for this stock that appeared in yesterday's paper? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. If the company currently has 25 million shares of stock outstanding, what was net income for the most recent four quarters? (Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to 2 decimal places, e.g., 1,234,567.89.) a. Yesterday's closing price $ 86.28 b. Net income $ 113.526.315.79
Stock production and sales data from a single product of Sweetsop are given in the following: Period 1 Period 2 Period 3Production (units) 60 000 70 000 65 000Sales (unit) 60 000 55 000 65 000Opening stock (units) - - 15 000Closing stock (units) 15 000 5000 The financial data for the activity level of 60 000 units per period are as follows: Cost per unit $Direct material 2.50Direct labour 3.00Production overheads= 200% of direct labour 6.00Total cost per unit 11.50 Selling price per unit 18.00 Administrative overheads are fixed at $100 000 per period and half of the production overheads are fixed. Prepare the marginal and absorption costing statements for the three-period…
YTD 52-week %CHG HI LO Stock (SYM) DIV -3.9 25.79 14.20 What is the firm's earnings per share (EPS)? O $0.66 O $0.16 $1.51 O $11.59 YLD % AZZ (AZZ) .16 ?? O $1.25 VOL NET P/E 100s CLOSE CHG 13 34 19.60 -1.25