Problem 2: Economic Order QuantityMNO Company has the following inventory costs:100Total cost to place one orderTotal annual cost to carry 2 unitsEconomic order quantity208,000 unitsAssume that the units will be required evenly throughout the year, compute for the following:4. Annual demand5. Total annual carrying cost6. Number of orders to be placed

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Problem 2: Economic Order Quantity MNO Company has the following inventory costs: Total cost to place one order 100 20 Total annual cost to carry 2 units Economic order quantity 8,000 units Assume that the units will be required evenly throughout the year, compute for the following: 4. Annual demand 5. Total annual carrying cost 6. Number of orders to be placed

Problem 2: Economic Order Quantity MNO Company has the following inventory costs: Total cost to place one order 100 20 Total annual cost to carry 2 units Economic order quantity 8,000 units Assume that the units will be required evenly throughout the year, compute for the following: 4. Annual demand 5. Total annual carrying cost 6. Number of orders to be placed

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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Cost Flow Methods The following three identical units of Item K113 are purchased during April: Item Beta Units Cost April 2 April 15 April 20 Total Purchase Purchase Purchase a. First-in, first-out (FIFO) b. Last-in, first-out (LIFO) c. Weighted average cost 1 1 1 3 Average cost per unit ($837+ 3 units) Assume that one unit is sold on April 27 for $374. 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. $276 279 282 $837 $279 Gross Profit Ending Inventory
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Production and sales estimates for March for Robin Co. are as follows: Estimated inventory (units), March 1 18,000 Desired inventory (units), March 31 19,100 Expected sales volume (units): Area M 7,000 Area L 9,100 Area O 7,400 Unit sales price $14 The number of units expected to be manufactured in March is
Production and sales estimates for June for Cardinal Co. are as follows: Estimated inventory (units), June 1 20,000 Desired inventory (units), June 30 19,000 Expected sales volume (units): Territory X 7,000 Territory Y 4,000 Territory Z 5,500 Unit sales price $20 The number of units expected to be manufactured in June is a. 12,500 units b. 13,500 units c. 11,000 units d. 15,500 units
Variable Costing Income Statement On April 30, the end of the first month of operations, Joplin Company prepared the following income statement, based on the absorption costing concept: Joplin CompanyAbsorption Costing Income StatementFor the Month Ended April 30 Sales (6,600 units) $178,200 Cost of goods sold: Cost of goods manufactured (7,700 units) $146,300 Inventory, April 30 (1,100 units) (20,900) Total cost of goods sold (125,400) Gross profit $52,800 Selling and administrative expenses (32,280) Operating income $20,520 If the fixed manufacturing costs were $39,501 and the fixed selling and administrative expenses were $15,810, prepare an income statement according to the variable costing concept. Round all final answers to whole dollars. Joplin CompanyVariable Costing Income StatementFor the Month Ended April 30 $Sales Variable cost of goods sold: $Variable cost of goods manufactured…
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Variable Costing Income Statement On April 30, the end of the first month of operations, Joplin Company prepared the following income statement, based on the absorption costing concept: Joplin Company Absorption Costing Income Statement For the Month Ended April 30 Sales (3,700 units) $74,000 Cost of goods sold: Cost of goods manufactured (4,300 units) $60,200 Inventory, April 30 (600 units) (8,400) Total cost of goods sold (51,800) Gross profit $22,200 Selling and administrative expenses (13,480) Operating income $8,720 If the fixed manufacturing costs were $16,254 and the fixed selling and administrative expenses were $6,600, prepare an income statement according to the variable costing concept. Round all final answers to whole dollars.
Production and saies estimates for March for the Robin Co. are as follows: Estimated inventory (units), March 1 17,700 Desired inventory (unit), March 31 19,100 Expected sales volume (units): Area M 6,500 Area L 8,300 Area O 7,900 Unit sales price $13 The number of units expected to be manufactured in March is Ob. 41,800 OC 22.700 Od. 24,100
Subject: acounting