The inventory of Oheto Company on December 31, 2013, consists of the following items. Cost Per Unit Cost to Replace per Unit Part No. Quantity 110 650 $ 100 $ 105 111 1,050 63 55 112 560 84 80 113 230 179 189 120 400 215 218 121 1,610 17 15 122 390 252 247 Part No. 121 is obsolete and has a realizable value of $.05 each as scrap. (a) Determine the inventory as of December 31, 2013, by the lower-of-cost-or-market method applying this method directly to each item.
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- Cheap Sheep Company developed the following information about its inventories in applying the lower of cost and net realizable value in valuing inventories: Product Cost $ 70,000 50,000 100,000 NRV $ 75,000 48,000 102,000 C After Cheap Sheep Company values its inventory at the lower of cost or net realizable value, the value of the inventory reported on the balance sheet would be $ 220,000 $ 227,000. $ 218.000. $ 225,000The answer is 265,000. Please help me find the solution.BEBE Corporation has an EUP of 248,750 units. Beginning inventory units of 22,500, 40% incomplete; ending inventory units of 24,000 60% complete. Conversion cost of beginning inventory of P9,800; current period conversioncosts of P204,125. Using FIFO method, the unit cost is: 0.70 none of the choices 0.82 0.86 Using FIFO method, the EUP of completed and transferred units is: _____________________
- 15. Ibe Corporation has an EUP of 248,750 units. Beginning inventory units of 22,500, 40% incomplete; ending inventory units of 24,000 60% complete. Conversion costs of beginning inventory of P9,800; current period conversion costs of P204,125. The unit conversion cost using weighted average method is: A. 0.82 B. none of the choices C. 0.70 D. 0.86The following is data relative to 12/31/21 inventory: Item Original Cost Replacement End Inv Per unit Cost # units A $.65 $.45 23,000 B $.45 $.40 37,000 C $.70 $.75 62,500 D $.75 $.65 20,900 E $.90 $.85 53,000 Selling price is $1.00/unit for all items. Disposal costs amount to 10% of the selling price and a "normal" profit is 30% of the selling price. REQUIRED: 1. Calculate “market value" 2. Make the necessary adjustment21. BRIAN POGI Co. manufactured the following units: Saleable 10,000 units Unsaleable Normal Loss 400 units Abnormal Loss 600 units Manufacturing costs totaled P198,000. What amount should the entity debit to finished goods?
- Delilah Incorporated provided the following information regarding its only product: Sale price per unit $50.00Direct materials used $160,000Direct labor incurred $185,000Variable manufacturing overhead $120,000Variable selling and administrative expenses $70,000Fixed manufacturing overhead $65,000Fixed selling and administrative expenses $12,000Units produced and sold 20,000 unitsAssume no beginning inventory Assuming there is excess capacity, what would be the effect on operating income of accepting a special order for 5,000 units at a sale price of $40 per unit? (NOTE: Assume regular sales are not affected by the special order and all orders incur variable selling and administrative expenses) Select one: a. Increase by $123,250 b. Increase by $78,750 c.…Opening stock of work in progress is 22000, and closing stock of Work in progress is 23750 OMR, Cost of goods manufactured 290800 OMR, Opening stock of finished goods is 20000, and closing stock of finished goods is 13750 OMR, Calculate cost of Goods Sold a. None of these b. 320800 OMR c. 330800 OMR d. 297050 OMRIbe Corporation has an EUP of 248,750 units. Beginning inventory units of 22,500, 40% incomplete; ending inventory units of 24,000 60% complete. Conversion costs of beginning inventory of P9,800; current period conversion costs of P204,125.1. The total units started in process? 2.The unit conversion cost using weighted average method is? 3.Using FIFO method, the unit cost is? 4.The total EUP of completed and transferred units is?
- 20. Gracia Company used the lower of cost or net realizable value method to value inventory. Data regarding the items in work in process inventory are presented below: Markers Pens Highlighters Historical cost 240,000 188,000 300,000 Selling price Estimated cost to complete Replacement cost Normal profit margin as a 360,000 250,000 360,000 48,000 50,000 68,000 208,000 168,000 318,000 percentage of selling price 25% 25% 10% What is the measurement of the work in process inventory?Alpha places 900 units in production during the year. All 900 units are completed during the year. It had no beginning WIP inventory. Direct material costs added during the year were $81,000 and conversion costs were $9,000. 8) What is the Direct Material cost per equivalent unit for the year? 9) What is the Conversion Cost per equivalent unit for the year? 10) How much is Cost of Goods manufactured for the year? 11) Assume beginning FG inventory was 0 (zero) and that Alpha sold 10% of what it manufactured this year. How much is COGS?Ibe Corporation has an EUP of 248,750 units. Beginning inventory units of 22,500, 40% incomplete; ending inventory units of 24,000 60% complete. Conversion costs of beginning inventory of P9,800; current period conversion costs of P204,125. The unit conversion cost using weighted average method is? Using FIFO method, the EUP of completed and transferred units is? Using FIFO method, the unit cost is: 0.82 0.86 0.70 NOTA