14:12< Activity 3- accounting for materials....ACTIVITY 3- ACCOUNTING FOR MATERIALS1. Krissy operates its factory 300 days per year. Itsannual used of Material Y is 300,000 gallons. It carries a2,500 gallon safety stock of material and its lead time is3 business days.What is the order point for Material Y?2. The EOQ for Material is 7,500 gallons, and thecarrying cost per gallon per year is P.25. What is the totalannual carrying cost for Material?3. Peter's order quantity for tocino is 5,000 kilos. Petermaintains a safety stock of Tocino at 500 kilos, and itsorder point is 1,500 kilos.What is the lead time, assuming daily usage is 50kilos?4. Peter's order quantity for tocino is 5,000 kilos. Petermaintains a safety stock of Tocino at 500 kilos, and itsorder point is 1,500 kilos.What would be the total annual carrying costs,assuming the carrying cost per unit is P.805. The following are data of materials inventory for theyear 2020 of Mars Corp:Number of pounds requiredannuallyCost of placing an orderAnnual carrying cost per pound ofmaterials144,000P180Р36What is the EOQ?6. XYZ has developed the following data from itsMaterial ASafety stockAverage (normally) daily useMaximum daily useMinimum daily useЕOQCost of placing an orderWorking days per yearLead time2802002401801,000P20250 days6 daysWhat is the reorder point?7. XYZ has developed the following data from itsMaterial A00000DashboardCalendarТo DoNotificationsInbox

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Answered: 1. Krissy operates its factory 300 days…

FINANCIAL ACCOUNTING

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Chapter1: Financial Statements And Business Decisions

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Answer all subparts a,b,c,d,e,f.if answered within 30mins,it would be great Accounting ETS manufactures a component for its computer products. The annual demand for thiscomponent is 2500 units. The annual cost of maintaining inventory is10% per unit and the cost of preparing an order and setting up productionfor the order is $ 50.The machine used to make this part has a production rate of 10,000units per year and the cost is $ 22 per unit.a. Find the EPQ(Economic Production Quantity)A. How long does it take to produce the batch?B. How many batches will be produced per year?C. What is the maximum inventory level?D. What is the total cost per year?E. A supplier offers to sell a similar component for $ 25 per unit with a charge$ 5 per service per order. Should the company accept the offer?F. Find the average inventory level for each situation
Finch Company began its operations on March 31 of the current year. Finch has the following projected costs: April May June Manufacturing costs* $156,300 $192,700 $213,400 Insurance expense*: 970 970 970 Depreciation expense 1,820 1,820 1,820 Property tax expense*** 540 540 540 Of the manufacturing costs, three-fourths are paid for in the month they are incurred; one-fourth is paid in the following month. **Insurance expense is $970 a month; however, the insurance is paid four times yearly in the first month of the quarter, (i.e., January, April, July, and October). ***Property tax is paid once a year in November. The cash payments expected for Finch Company in the month of April are a. $120,135 b. $117,225 c. $138,218 d. $156,300
Estimated sales of a product is 30000 units. Two kinds of raw materials P and Q are required for manufacturing the product. Each unit of the product requires 2 units of P and 4 units of Q. The estimated cost of the P and Q OMR 2 and OMR 3 respectively. The estimated opening balance in the beginning of the next year: finished goods: 4000 units; P: 6000 units; Q: 10000 units. The desirable closing balance at the end of the next year: finished product: 6000 units; P: 10000 units; Q: 12000 units. Which of the following shows the total cost of raw materials (OMR) to be purchased in Material Purchase Budget. Select one: a. P = 162000 and Q = 181000 b. P= 136000 and Q= 390000 c. P = 124000 and Q = 324000 d. P = 134000 and Q = 334000
Finch Company began its operations on March 31 of the current year. Finch has the following projected costs: June $201,000 Manufacturing costs" Insurance expense** April May $157,200 $197,600 970 970 2,200 420 2,200 420 970 Depreciation expense Property tax expense*** "Of the manufacturing costs, three-fourths are paid for in the month they are incurred; one-fourth is paid in the following month. **Insurance expense is $970 a month; however, the insurance is paid four times yearly in the first month of the quarter, (.e., January, April, July, and October). ***Property tax is paid once a year in November. The cash payments expected for Finch Company in the month of May are O&$187.500 b. $39,300 Oe5148,200 Od $226,800 2,200 420
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Kindly answer what is asked in letter D.
ABC Pty Ltd purchases and uses 5 000 units of a component per month in production. The fixed cost per order of the component is R 300 and the carrying cost per unit per annum is R 75. The time taken between placing the order and receiving the order from the supplier is 15 days while the company’s target safety inventory is three times that of the supplier’s delivery days. 365 days in year. The company makes use of EOQ method. Calculate the EOQ. (4) Calculate the total annual ordering cost for the company (3) Calculate the reorder point. (3) Calculate the total annual carrying cost for the company. (5) Total (15)
Finch Company began its operations on March 31 of the current year. Finch has the following projected costs: May $198,000 April $156,000 a. $49,500 b. $252,000 c. $202,500 d. $153,000 Manufacturing costs* Insurance expense** Depreciation expense Property tax expense*** *Of the manufacturing costs, three-fourths is paid for in the month they are incurred; one-fourth is paid in the following month. **Insurance expense is $900 a month; however, the insurance is paid four times yearly in the first month of the quarter (i.e., January, April, July, and October). ***Property tax is paid once a year in November. The cash payments for Finch Company expected in the month of June are 900 1,850 500 900 1,850 June 500 $204,000 900 1,850 500 Previous Next
H6. Broduer Aquatics manufactures swimming pool equipment. Broduer estimates total manufacturing overhead costs next year to be $2,500,000 The company also estimates it will use 50,000 direct labour hours and incur $1,000,000 of direct labour cost next year. In addition, the machines are expected to be run for 30,000 hours. Compute the predetermined manufacturing overhead rate for next year under the following independent situations: 1. Assume that Brodeur uses direct labour hours as its manufacturing overhead allocation base. 2. Assume that Brodeur suses direct labour cost as its manufacturing overhead allocation base. 3. Assume that Brodeur uses machine hours as its manufacturing allocation base
Am. 112.
Am. 112.
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1. Krissy operates its factory 300 days per year. Its annual used of Material Y is 300,000 gallons. It carries a 2,500 gallon safety stock of material and its lead time is 3 business days. What is the order point for Material Y?