a. Prepare a differential analysis dated April 30 to determine whether the company should make (Alternative 1) or buy (Alternative 2) the carrying case. If an amount is zero, ente "0". If required, round your answers to two decimal places. Differential Analysis Make Carrying Case (Alt. 1) or Buy Carrying Case (Alt. 2) April 30 Make Buy Carrying Carrying Differential Case Case Effects (Alternative 1) (Alternative 2) (Alternative 2) Unit costs: Purchase price Direct materials Direct labor Variable factory overhead Fixed factory overhead Total unit costs

a. Prepare a differential analysis dated April 30 to determine whether the company should make (Alternative 1) or buy (Alternative 2) the carrying case. If an amount is zero, ente "0". If required, round your answers to two decimal places. Differential Analysis Make Carrying Case (Alt. 1) or Buy Carrying Case (Alt. 2) April 30 Make Buy Carrying Carrying Differential Case Case Effects (Alternative 1) (Alternative 2) (Alternative 2) Unit costs: Purchase price Direct materials Direct labor Variable factory overhead Fixed factory overhead Total unit costs

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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Match the term with its definition. Cost-To-Retail Ratio [Choose ] Choose Time Elapsed: Hide Time Attempt due: Apr 7 at 11:59pm 15 Hours, 11 Minutes, 4 Seconds Designated Market Value Gross Profit Method Gross Profit Percentage The cost to replace an item. Also known as "Replacement Cost". Correct Answer Gross profit divided by Sales. Correct Answer Used in the Retail Inventory Method to restate endinding inventory to a cost basis. Correct Answer An addition to the original sales price Correct Answer A method of estimating inventory. Can not be used for an annual financial staement. Correct Answer Net Realizable Value minus a normal profit margin Correct Answer Sales price minus costs to complete or dispose. Also called "Net Realizable Value" Correct Answer An inventory valuation method that compares cost to designated market and records inventory at the lower of the two amounts. Correct Answer An inventory valuation method that compiles inventory at sales prices and converts the…
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Question - Company sells three different categories of tools (small, medium, and large). The cost and market value of its inventory of tools is as follows. Cost Market Value Small $ 63,200 $ 72,000 Medium 2,89,400 2,60,800 Large 1,52,100 1,72,800 Determine the value of the company's inventory under the lower-of- cost-or-market value approach.
Cost Selling price Costs to sell Product 1 2 3 $ Required: What unit values should Han use for each of its products when applying the lower of cost or net realizable value (LCNRV) rule to ending inventory? Cost Product 1 $ 20 40 20✔ $ 90 ✓ 50 ✓ 6 NRV Product 2 $ 90 120 40 34✔✔ $ X 60✔ Product 3 $ 50 70 10 Per Unit Inventory Value 20✔ X 50 ✓
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The normal profit Required: What unit value should Royal Decking use for each of its products when applying the lower of cost or market (LCM) rule to units of ending inventory? (Do not round Intermediate calculations. Round final answers to 2 decimal places.)