(b) Will the results in (a) be higher or lower than the results under FIFO and LIFO? Ending inventory is Th than FIFO S and In contrast, cost of goods sold is w than FIFOS and than LIFO S than LIFO S
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![Current Attempt in Progress
Moath Company reports the following for the month of June.
Units
Unit Cost
Total Cost
June 1
Inventory
200
$5
$1.000
12
Purchase
400
6
2,400
23
Purchase
300
2,100
Inventory 100](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F956ceb24-c6a8-4218-a305-e38938129f02%2F90765115-6a8f-479e-9562-5711757e4ee0%2F9z9e9r_processed.jpeg&w=3840&q=75)
![(b)
Will the results in (a) be higher or lower than the results under FIFO and LIFO?
Ending inventory is
M than FIFO S
and
In contrast, cost of goods sold is
202 than FIFO 3
Sque for Late
M than LIFOS
and
mpts: 0 of 3 used
chan LIFO S
Submit Answer](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F956ceb24-c6a8-4218-a305-e38938129f02%2F90765115-6a8f-479e-9562-5711757e4ee0%2Ftneudz2_processed.jpeg&w=3840&q=75)
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- S Module Three Assignment - ACC X CengageNOWv2 | Online teachir x + gagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogre.. еВook Show Me How Cost Flow Methods The following three identical units of Item K113 are purchased during April: Item Beta Units Cost April 2 Purchase 1 $171 April 15 Purchase 1 175 April 20 Purchase 1 179 3 $525 Total Average cost per unit $175 ($525 + 3 units) Assume that one unit is sold on April 27 for $247. 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 Inventory a. First-in, first-out (FIFO) b. Last-in, first-out (LIFO) c. Weighted average cost Previous Next> Check My Work 6:38 AM 45°F A D E a O A 40) 11/13/2021uols-A moodle1.du.edu.om Flag question Total cost and number of units in the first seven months of 2020 are given below. According to this information, which of the following is the cost equation? Total No.of Periods Cost Units January 500 45,750 February 510 46,305 March 520 46,860 April 545 48,248 May 565 49,358 June 580 50,190 July 51,855 610 Select one: a. Y=18000+55.5*X b. Y=21000+50*X c. Y=22500+48.3*X d. Y=19000+52.5*X Clear my choiceCost Flow Methods The following three identical units of Item K113 are purchased during April: Cost April 2 April 15 April 20 Total Item Beta a. First-in, first-out (FIFO) b. Last-in, first-out (LIFO) c. Weighted average cost Purchase Purchase Purchase Units 1 1 1 3 $ $504 Average cost per unit $168 ($504 + 3 units) Assume that one unit is sold on April 27 for $210. 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 $165 168 171 Ending Inventory $
- CH11_HW_QA2_LA Required 1: 1-a. Compute the throughput time for each month. 1-b. Compute the manufacturing cycle efficiency (MCE) for each month. 1-c. Compute the delivery cycle time for each month. (Round your answers to 1 decimal place.) Throughput Time Manufacturing Cycle Efficiency (MCE) Delivery Cycle Time Month 1 days % days Month 2 days % days Month 3 days % days Month 4 days % days Required 3: 3-a. (Month 5) Refer to the inspection time, process time, and so forth, given for month 4. Assume that in month 5 the inspection time, process time, and so forth, are the same as for month 4, except that the company is able to completely eliminate the queue time during production using Lean Production. Compute the new throughput time and MCE. 3-b. (Month 6) Refer to the inspection time, process time, and so forth, given for month 4. Assume that in month 6 the inspection time, process time, and so…Cost Flow Methods The following three identical units of Item LO3V are purchased during April: Item Beta Purchase 1 Purchase 1 [[ Purchase 1 3 April 2 April 15 April 20 Total a. First-in, first-out (FIFO) b. Last-in, first-out (LIFO) c. Weighted average cost $ Units Cost $ Average cost per unit $221 ($663 3 units) Assume that one unit is sold on April 27 for $301. 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 82 ✔ $219 X 221 223 $663 Ending Inventory $ Xcontent/qualsims/accounting/cost_volume_profit/v2/player/#/891e73d6eefafa67438268e177eaa497_qualsimsaccountingcost_volume_profitmiller_nobles_mattis 75 Tumblers Sora per month Sales Revenue Less: Variable Expenses Contribution Margin Less: Fixed Expenses Operating Income Total Per Unit $ 2,250 $ 30 1,350 18 $ 900 $ 12 250 $ 650 In order to determine how much contribution margin is earned for each $1 of sales, what is the contribution margin ratio on your tumbler sales? Round to the nearest whole number. Select an option from the choices below and click Submit. ○ 29% ○ 40% ○ 250% Submit
- < Cost Flow Methods The following three identical units of Item JC07 are purchased during April: Units Cost April 2 April 15 April 20 Total Item Beta Purchase Purchase Purchase a. First-in, first-out (FIFO) b. Last-in, first-out (LIFO) c. Weighted average cost 1 1 1 3 $94 97 Gross Profit 100 $291 Average cost per unit ($291 + 3 units) Assume that one unit is sold on April 27 for $120. 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. $97 Ending Inventory $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 cost03 v2.cengagenow.com/mm/takeAssignment/takeAssignmentMain.do?inprogress=true Classwork 01-03 eBook 2. Prepare a production budget for March. Peaky Blinders Furniture Company Production Budget For the Month Ending March 31 < Line Item Description Thomas Units Polly Units Expected units to be sold Plus desired inventory, March 31 1,000 V 450 Total Less estimated inventory, March 1 Total units to be produced Feedback Check My Work Expected units to be sold plus desired ending inventory minus estimated beginning inventory equals units produced. 3. Prepare a direct materials purchases budget for March. Peaky Blinders Furniture Company Direct Materials Purchases Budget For the Month Ending March 31 Direct Materials: Fabric (sq. yds.) Wood (lineal ft.) Filler (cu. ft.) Springs (units) Total Required units for production: Check My Work Q Search hp 5 16 48 6 & 00 8 U 66 9 3 Previous D prt sc. delete home backspace
- A company reports the following Information: Month Units Sold Total Cost January 1,020 $ 6,57O $ 7,140 $9,30O $ 4,500 February 1,920 March 2,640 April 720 Using the high-low method, the estimated total fixed cost is: Multiple Choice $2,700. $3,660. $4,500. $6,120. $1,620. Nex 7 of 25 < PrevElectronio ExperGecupancy Percentage 62 Month January April August 6,200 6,600 68 7,200 78 December 5,500 50 Jsing the highllow two point method to: 1 Determine the variable cost per 1poercent of occupancy 2 Estimate the fixed costs per month 3 What is the estimated total electric expense at 62 pecent of ocoupancy? ANSWER Month Electronic Expenses Oooupanoy Percentage High August 7,200 78 Low December 5,500 50 Difference 1,700 28 1 Variable cost per 1% of ocoupanoy = 61 2 Total variable cost of electric expense for December = Total fixed cost of electric expense for December = 3,035.71 2,464.29 Total variable cost of electric expense for August = Total fixed cost of electrio expense for August = 4,735.71 2,464.29 3 Using the fixed cost for December as the total fixed cost for estimation Total variable cost of electric expense at 62%. oooupancy = Total fixed oost of electric expense at 62% occupanoy Estimated total electric expense at 62% occupancy =xercise 5-13 - Con X + ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A %252F%252Fmycstate.cincinnatistate.edu%252Fwebapps i Miller Company's contribution format income statement for the most recent month is shown below: Per Unit $ 8.00 5.00 $ 3.00 Sales (34,000 units) Variable expenses Contribution margin Fixed expenses Net operating income Total $ 272,000 170,000 Required: (Consider each case independently): 102,000 47,000 $ 55,000 1. What is the revised net operating income if unit sales increase by 19%? 2. What is the revised net operating income if the selling price decreases by $1.40 per unit and the number of units sold increases by 16%? 1. Net operating income 2. Net operating income 3. Net operating income 4. Net operating income 3. What is the revised net operating income if the selling price increases by $1.40 per unit, fixed expenses increase by $6,000, and the number of units sold decreases by 5%? $ 4. What is the revised net…
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