QUESTION 5 5.1 Ford expects to sell approximately 2000 cars per month during 2020. The estimated cost of placing an order for the car is R22. The inventory holding cost of one Bugatti car is R5. Required: Calculate the annual economic order quantity using the necessary formula? 5.2 Use the following transactions for Tata Limited to complete the table below which will indicate the value of the closing stock using the First- in- first out method. This stock consists of a component used in production of the final product. December Transactions Number of units and cost 120 units @R9 per unit Opening inventory Purchased from supplier 300 units @ R10 Issued to production Returned to supplier Purchased from supplier 150 units @R12 Issued to production 01 08 12 19 22 28 220 units 50 units (purchased on 08 December) 250 units

QUESTION 5 5.1 Ford expects to sell approximately 2000 cars per month during 2020. The estimated cost of placing an order for the car is R22. The inventory holding cost of one Bugatti car is R5. Required: Calculate the annual economic order quantity using the necessary formula? 5.2 Use the following transactions for Tata Limited to complete the table below which will indicate the value of the closing stock using the First- in- first out method. This stock consists of a component used in production of the final product. December Transactions Number of units and cost 120 units @R9 per unit Opening inventory Purchased from supplier 300 units @ R10 Issued to production Returned to supplier Purchased from supplier 150 units @R12 Issued to production 01 08 12 19 22 28 220 units 50 units (purchased on 08 December) 250 units

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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Q1 Libscomb Technologies' annual sales are $5,153,262 and all sales are made on credit, it purchases $3,894,023 of materials each year (and this is its cost of goods sold). Libscomb also has $500,636 of inventory, $477,741 of accounts receivable, and $490,466 of accounts payable. Assume a 365 day year. What is Libscomb’s Inventory Turnover?
Cost 7. $160 8. $225 www f Complete the following. If there is no operating loss or absolute loss, write "none Break even Point Reduced Price $186 $40 9. $14,120 Average Inventory at Cost selling price, sing the app $297 Markup 6 100% $198 Average Inventory at Retail $25,572 Find the stock turnover at retail and at cost for the following. Round to the nearest hundredth. [8.4] Turnover at Cost Operating Absolute Loss Cost of Goods Sold $81,312 a doº b Retail Sales $146,528 Solve the following application problems. 10. Smart Phones, Inc. buys one model of smartphone, paying $2370 per case of 20 phones. Find the asking price for each assuming a 40% markup on cost. 11. It cost a singer-songwriter $67,300 for all of the expenses to engineer, record, mix, and promote a new music disc. The cost also included the manufacturing of 5000 discs. Assume each disc sells for $20. Find (a) the markup in dollars, (b) the markup as a per- cent of cost to the nearest tenth of a percent, and (c) the…
QUESTION 8 Based on the data below calculate the company's combined cost? Annual requirements = 7500 units Ordering cost BD 12 Holding cost-80 0.5 O 125 300 Ⓒ45000 O 150 QUESTION 9 How long does it take for $14050 to grow to $26500, if interest rates are set at 15%2 O 4.54 years O423.33 years 0.50 years 12:23 years QUESTION 10 Areej invested BD 14000 12 years ago, today this investment is worth BD 52000, based on this what annualized rate has Aree earned on this investment? 11.00% O 2.75% 17.43% 8.01% QUESTION 11 Ahmed must pay off his car by paying SD 5700 at the beginning of each year for 12 years and is charged an interest of 8%. What is the present value of Ahmed's payments? OBD 48302.10 OBD 42955.64 BD 116823.19 BD 108160.62 QUESTION 12 Below is some information from Delta airlines financial statements Sales 345,000 COGS 167.000 Account receivable 21,500 Accounts payable 52.789 Inventory 3.500 Using this information calculate the company's cash conversion cycle
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Q4 Libscomb Technologies' annual sales are $6,743,847 and all sales are made on credit, it purchases $3,304,291 of materials each year (and this is its cost of goods sold). Libscomb also has $535,216 of inventory, $1,475,000 of accounts receivable, and $1,400,000 of accounts payable. Assume a 365 day year. What is Libscomb’s Receivables Period (in days)?
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QUESTION 1 a. Kpogo Ltd has the following products in inventory at the end of 2019: Units Cost per unit GH¢ XYZ (completed) 540 22 ABC (part complete) 280 26 Each product normally sells at GH¢34 per unit. Due to the difficult trading conditions, Kpogo Ltd intends to offer a discount of 15% per unit and expects to incur GH¢4 per unit in selling costs. GH¢10 per unit is expected to be incurred to complete each unit of ABC. Required: In accordance with IAS 2 Inventories, at what amount should inventory be stated in the financial statements of Kpogo Ltd as at 31 December 2019? b. According to IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors, an entity must select and apply its accounting policies consistently from one period to the next and among various items in the financial statements. However, an entity may change its accounting policies under certain conditions. Required: Identify the circumstances under which it may be appropriate to change accounting policy in…
Current Attempt in Progress Sheridan Industries had the following inventory transactions occur during 2025, its first year of operations: Units Cost/unit Feb. 1, 2025 Purchase 93 $39 Mar. 14, 2025 Purchase 160 $40 May 1, 2025 Purchase 114 $42 The company sold 263 units at $54 each and has a tax rate of 30%. Assuming that a periodic inventory system is used, and operating expenses of $1548, what is the company's net income using LIFO? O $1544.90 O $1334.20 O $1906.00 O $2207.00
Background Jimmy's Sweets Company sells a lovely range of irresistible sweets to the general public. Jimmy has calculated the following ratio analysis for the years ending 2020 and 2019 below: 2020 2019 Current Ratio 3.20 1.50 Quick Ratio 0.30 1.20 Inventory Turnover (days) 17 days 22 days Accounts Receivable Turnover (days) 62 days 32 days Question Which answer below is the correct interpretation of the change in each ratio, from 2019 to 2020? Select one: O a. Current Ratio is worse, Quick Ratio is worse, Inventory Turnover is worse, Accounts Receivable Turnover is worse. O b. Current Ratio is better, Quick Ratio is better, Inventory Turnover is better, Accounts Receivable Turnover is better. O c. Current Ratio is better, Quick Ratio is worse, Inventory Turnover is better, Accounts Receivable Turnover is better. O d. Current Ratio is better, Quick Ratio is worse, Inventory Turnover is better, Accounts Receivable Turnover is worse.
What were Days Inventory for Procter and Gamble in 2018? Question 1 options: 25.9 days 100.3 days 34.1 days 74.3 days 50.5 days Question 2 Capital expenditures for Procter and Gamble in 2018 were. Round to nearest $billion and use the $ symbol. Do not show as a negative number. ____________ What was EBITDA for Procter and Gamble in 2018? Question 6 options: $16,666mm $9,861mm $66,832mm $23,454mm For Procter and Gamble, what was the Gross Margin Percentage for 2018? Round to nearest one decimal point and use the % symbol. _______? For Procter and Gamble, what were days Receivable for 2018? Round to the nearest day and answer in the form of 54 days _______? Return on Sales for Procter and Gamble for 2018 was: (round to nearest whole number and use % symbol.) Hint....Net income is the bottom line of the income statement. ? Total sales (a.k.a. Net Sales) for Procter and Gamble in 2018 were:____.…
Q2 Libscomb Technologies' annual sales are $5,433,041 and all sales are made on credit, it purchases $3,986,576 of materials each year (and this is its cost of goods sold). Libscomb also has $581,228 of inventory, $530,966 of accounts receivable, and $416,773 of accounts payable. Assume a 365 day year. What is Libscomb’s Inventory Period (in days)?
me EOQ, reorder point, and safety stock Alexis Company uses 905 units of a product per year on a continuous basis. The product has a fixed cost of $49 per order, and its carrying cost is $5 per unit per year. It takes 5 days to receive a shipment after an order is placed, and the firm wishes to hold 10 days' usage in inventory as a safety stock. a. Calculate the EOQ. b. Determine the average level of inventory. (Note: Use a 365-day year to calculate daily usage.) c. Determine the reorder point. d. Indicate which of the following variables change if the firm does not hold the safety stock: (1) order cost, (2) carrying cost, (3) total inventory cost, (4) reorder point, (5) economic order quantity. ents un a. Alexis' EOQ is units. (Round to the nearest whole number.) eText edia Librai al Calculat r Resource Enter your answer in the answer box and then click Check Answer. ic Study 3 parts remaining es Clear All Check Answer unication Tools > OK 10 Type here to search 5/1 insert