The following information relates to Unique Ltd for the year 2020: Annual Demand 408,375 unitsAnnual cost of Holding £1.50Annual cost of placing an order £ 500 1. Calculate the EOQ 2. Calculate the average inventory 3. Calculate the total annual ordering cost 4. Calculate the total annual inventory cost (excluding the purchase cost)
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The following information relates to Unique Ltd for the year 2020:
Annual Demand 408,375 units
Annual cost of Holding £1.50
Annual cost of placing an order £ 500
1. Calculate the EOQ
2. Calculate the average inventory
3. Calculate the total annual ordering cost
4. Calculate the total annual inventory cost (excluding the purchase cost)
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- Compute the gross income for 2019 assuming a FIFO.cost formula1- Hani has an inventory at 1/1/2020 of €60,000 and purchases during 2020 of €280,000, both at cost. Sales at selling price amount to €200,000. Compute the estimated inventory at 31/12/2020, assuming that the gross profit is 25% of sales b v a-200UU - 230000 150000 2- Which of the following is a product cost as it relates to inventory? a Selling costs. b. Interest costs. C. Raw materials. d. Abnormal spoilage.QUESTION A. What is the net income for 2020 under the Variable Costing Method? B. What is the net income for 2020 under the Absorption Costing Method? C. What is the net income for 2021 under the Variable Costing Method? D. What is the net income for 2021 under the Absorption Costing Method?
- PROBLEM 11-5 Proportionate Method-Complete Equity Method LO 4 This problem is a continuation of the problem in Section 11.5 of the chapter. In the chapter, the workpaper was prepared for the year of the acquisition. In this problem, the consolidated statements are prepared for the second year after acquisition. On January 1, 2019, P Company, a European based-company, purchased 80% of S Company for €200,000 (when the common stock account was 80,000, other contributed capital was 50,000, and retained earnings were 40,000). The trial balances at the end of 2020 are reported below. P Company acquired S Company because it wanted to expand its operations geographically. S Company is located in the United States and will be classified as a CGU. P Company elects to test for impairment on December 31 of each year. Because both P Company and S Company sell similar inventory, their inventory policies must conform for consolidation purposes. P Company uses average cost for inventories and S…I need the answer as soon as possibleWhich is correct ?
- Stigma industries has the following beginning inventory and purchases for 2020: 12each 4,800 14each 8,40d 13,200 Beginning inventory 400 Inventory purchased 600 Cost of goods availablel,000units It sells 600 of these units in 2020. compute its cost of goods sold for 2020 and the ending inventory reported on its 2020 balance sheet under each of the following inventory costing methods: FIFO LIFO Cost of goods soldAnswerAnswer Ending inventory AnswerAnswerAn organization implements a constant order quantity inventory system. The setup (procurement) cost per transaction: $58 The annual demand in units: 2500 The cost of each inventory unit: $10 The annual holding cost as a percentage of unit inventory cost: 30% Determine the optimal order quantity rounded to the nearest whole unit.Assume the following data about actual prices, costs, and volume for Balmoral, Inc. for 2019: Selling price Variable manufacturing costs Fixed manufacturing costs Marketing and administrative costs (fixed and variable combined) $5 per unit $3 per unit $100,000 for 2019 $30,000 for 2019 Sales volume 100,000 units for 2019 120,000 units for 2019 Production volume There were no beginning inventories. What is the inventory cost at the end of 2019 under: (1) absorption costing $_ (2) variable costing S
- Given the following information, formulate an inventory management system. The item is demanded 50 weeks a year. Item cost Order cost Annual holding cost (N) Annual demand Average demand $ 11.00 $257.00 33 26,600 532 Standard deviation of weekly denand Lead time Service probability 30 units /order % of item cost units /week 2 week 98% a. Determine the order quantity and reorder point. (Use Excel's NORMSINV( ) function to find your z-value and then round that z- value to 2 decimal places. Do not round any other intermediate calculations. Round your final answers to the nearest whole number.) Optimal order quantity units units Reorder point b. Determine the annual holding and order costs. (Do not round any intermediate calculations. Round your final answers to 2 decimal places.) Holding cost Ordering cost C. Assume a price break of $60 per order was offered for purchase quantities of 2,000 units per order. If you took advantage of this price break, how much would you save annually? (Do…Q5. The following information extracted from the cost records during January 2023 Dates January 1 January 10 January 20 January 25 Particular Answer: Begging inventory Purchase Purchase Sales 150 100 200 Cant per unit 20 25 Total cost 3,000 1,250 3,000 Required: 1. Compute The Cost Of Goods Sold On January 25, 2023 Using First In First Out, Last In First Out And Weighted Average Methods1 A firm uses an inventory item with the following characteristics. Cost per-item $ 6.00 Annual consumption 1,000 Fixed cost per order placed $30.00 Carrying cost of inventory (as a % of dollar value) 25% How many times should the product be reordered each year and what are the related ordering and carrying costs of inventory?