Cases 2 3 $15.90 $16.10 19.20 Cost $15.90 $15.90 $15.90 17.80 Sales value 14.80 15.20 10.40 Estimated cost to complete Estimated cost to sell 1.00 1.50 1.90 1.65 80 55 .50 .70 40 .60
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In some instances, accounting principles require a departure
from valuing inventories at cost alone. Determine
the proper unit inventory price in the following cases
using LCNRV
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- Inventory (01/10/18)Raw materials 28800Work in progress 37000Finished goods 33600Sales (114000 @c5) 57000Carriage on raw materials 1470General expenses 25200Selling expenses 51840Plant and machinery 250280Land 50000Bank overdraft 32120Retained earnings 816Ordinary share capital 2000008% preference share 22000Goodwill 40000Bad debts 830Trade receivables 36433Discount allowed 1440Sundry payable 56636Trade investment 8840Advertising 2250Return inwards 9000Discount received 1920Carriage outwards 2280Production wages 126000Office salaries 4860Purchases of raw materials 168000Noodles 15000Factory rent 13600Office insurance 40800Depreciation on plant and machinery 4920InventoryRaw materials 35400Work in progress 39120Loose tools 3000Additional informationDuring the year, 129000 pieces were completed. The closing inventory of finished goods is valued at the cost price per nose mask produced.Goods manufactured during the year are to be transferred to the trading account at GHc 390000.Provide…Q5b) Contribution statement for Chiyeyeye furniture manufacturing LtdProduct A(ZMW) Product B(ZMW)Sales 1000 500Variable costs 600 300Contribution 400 200Fixed costs 200 200Profit 100 -Calculatei) Break-even point for each productii) Contribution ratio for each productiii) Can you close product B and why? ExplainABFHRL437 Corporation’s info is bel ow: Sales $509,000 VC $101,800 FC $22,730 NOI $384,470 Q. How much is ABFHRL437’s Contribution Margin? A. $
- IF the profit are 50% of operating cost, it is ……………. of invoice price a. 20% b. 25% c. 16.66667% d. 33.33334%P8.6 (LO 3) (Compute FIFO, LIFO, Average-Cost—Periodic and Perpetual) Ehlo Company is a multi product firm. Presented below is information concerning one of its products, the Hawkeye.Date Transaction Quantity Price/Cost1/1 Beginning inventory 1,000 $122/4 Purchase 2,000 182/20 Sale 2,500 304/2 Purchase 3,000 2311/4 Sale 2,200 33Instructions Compute ending inventory AND cost of goods sold, assuming Ehlo uses: a. Periodic system, FIFO cost flow. b. Perpetual system, FIFO cost flow. c. Periodic system, LIFO cost flow. d. Perpetual system, LIFO cost flow. e. Periodic system, weighted-average cost flow. f. Perpetual system,…Q7. c) Contribution statement for komfwe dry cleaning Ltd Product A(ZMW) Product B(ZMW) Unit budgeted 1000 1000 Sales 1000 500 Variable costs 600 300 Contribution 400 200 Fixed costs 200 200 Profit 100 - Calculate i) Break-even point for each product ii) Contribution ratio for each product iii) Can you close product B and why? Explain
- Match the following measurements with the terms below: Question 15 options: 12345 cash conversion efficiency ratio 12345 economic ordering quantity 12345 credit terms 12345 net working capital 12345 days of working capital 1. 5.1% 2. 47.2 days 3. 1/10, n/30 4. $200,000 5. 700 unitsCH7-Q50: Hi I have asked this question before, but i haven't received explanation on requirement # 3. Also, last question was not answered. Please answer #6 (last question) and fully explain # 3. thanks! Jellico Inc.'s projected operating income (based on sales of 450,000 units) for the coming year is as follows: Total Sales $ 12,150,000 Total variable cost 7,533,000 Contribution margin $ 4,617,000 Total fixed cost 2,875,878 Operating income $ 1,741,122 Required: 1(a). Compute variable cost per unit. Enter your answer to the nearest cent.$per unit 1(b). Compute contribution margin per unit. Enter your answer to the nearest cent.$per unit 1(c). Compute contribution margin ratio. % 1(d). Compute break-even point in units. units 1(e). Compute break-even point in sales dollars.$ 2. How many units must be sold to earn operating income of $376,542? units 3. Compute the additional operating income that Jellico would earn if sales were $50,000 more than expected.$ 4. For…Buy P 1-P Low Cost High Cost Purchase Cost C1 = 35,000+ 0.08 x 2,500,000 C2 = 35,000+ 0.12 x 2,500,000 C3 = 200,000
- Sales price per unit R15 R19Variable cost per unit R6 R7Fixed cost (FC) per annum R650 000 R 855 500Fixed cost per unit R3 R4 Current assets R450 600 R560 700Current liabilities R510 000 R780 000Retained profit R21 809 R17 600Net Sales R2 900 320 R 3 100 100Cost of sales R390 000 R475 000 Calculate the break‐even point for 2019 and 2020. The current ratio reflects the relationship between the value of the current assets and the extent of the current liabilities of a businessP8.6 (LO 3) (Compute FIFO, LIFO, Average-Cost—Periodic and Perpetual) Ehlo Company is a multi product firm. Presented below is information concerning one of its products, the Hawkeye. Date Transaction Quantity Price/Cost 1/1 Beginning inventory 1,000 $12 2/4 Purchase 2,000 18 2/20 Sale 2,500 30 4/2 Purchase 3,000 23 11/4 Sale 2,200 33 Instructions Compute ending inventory AND cost of goods sold, assuming Ehlo uses: Perpetual system, LIFO cost flow. Periodic system, weighted-average cost flow. Perpetual system, moving-average cost flow.26-If the sales of the company are OMR 300,000, Profit OMR 30,000, variable cost 60%, find out the sale volume to earn a profit of OMR 75,000. O a. OMR 400000 O b. OMR 412500 O c. OMR 375000 O d. OMR 451200