Moath Company reports the following for the month of June. Units Unit Cost Total Cost 200 $ 1,000 June 1 Inventory $5 12 Purchase 400 6 2,400 23 Purchase 300 7 2,100 30 Inventory 100 (a1) Your answer is correct. Calulate Weighted Average Unit Cost. (Round answer to 2 decimal places, e.g. 15.25.) Weighted Average Unit Cost 6.11
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A: Moving average unit cost will be calculated by dividing total costs by number of units.
Q: What is this?
A: Inventory valuation can be done under different methods like FIFO,LIFO, Weighted Average.To…
Q: The following information is available for Zhang Company: Item Units Unit Total cost Beginning…
A: Solution... Total costs of goods available for sale = $2,840 Total units available for sale =…
Q: The following information pertains to Mason Company for Year 2. Beginning inventory Units purchased…
A: Sales = No. of units sold x sales price = 442 units x $96 = $42,432
Q: Moath Company reports the following for the month of June. Units Unit Cost Total Cost June 1…
A: Given, Total Units = 900 Ending Units = 100 Units Sold = 800
Q: Extreme Company showed the following information: Total cost Unit cost Units 40. 400,000 10,000…
A: FIFO is a method of valuing inventories in which the goods purchased first are sold on a priority…
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A: Compute weighted average cost per unit:Compute the weighted average average cost per unitDate…
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A: Inventory valuation is used to calculate the ending inventory. It is based on the flow of inventory…
Q: company had the following purchases and sales during its first month of operations: Date Activities…
A: Tje average cost per unit is calculated as total cost of goods available for sale divided by number…
Q: Lambeth Company experienced the following events in February: Date Event Units Unit Cost Total Cost…
A: LIFO: LIFO stands for Last-In, First-Out. In this method inventory purchased at last will be sell…
Q: During the year, Wright Company sells 535 remote-control airplanes for $120 each. The company has…
A: Under weighted average method, the unit cost is calculated as total cost of goods available for sale…
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A: The direct costs of manufacturing the commodities sold by a corporation are referred to as the cost…
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A: Cost of goods sold (COGS) indicates the cost incurred by the corporation for making the product…
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A: Calculate the cost of ending inventory, if Company uses the weighted average cost assumption. First,…
Q: Larkspur, Inc. reports the following for the month of June. Units Unit Cost Total…
A: FIFO : First in First Out. It assumes that the oldest inventory is sold first. LIFO : Last in First…
Q: Suga Company had the following information relating to its March inventory: Unit Unit Cost Total…
A: Using weighted average method, unit cost is calculated as total cost divided by number of units…
Q: Akira Company had the following transactions for the month. Number Cost of Units per Unit Beginning…
A: LIFO means last in first out where as FIFO means first in first out. Inventory and cost of goods…
Q: Moath Company reports the following for the month of June. Units Unit Cost Total Cost 200 $ 1,000…
A: Formula: Weighted average unit cost = Total cost / Number of units. Division of Number of units with…
Q: Concord Company reports the following for the month of June. Date Explanation Units Unit Cost Total…
A: In this question we will find out Ending inventory, COGS with LIFO, FIFO method and Average cost…
Q: Cost of ending inventory Cost of materials issued
A: Moving average method: Under this method moving average cost is calculated based on the weighted…
Q: Pronghorn Corp reports the following for the month of June. Date Explanation Units Unit Cost Total…
A: Date Explanation Units Unit cost Total cost 1-Jun Inventory 117 $5 $585 12-Jun Purchases 336 $6…
Q: Celine Company provided the following data relating to an inventory item. Total cost 1,000,000…
A: The inventory can be valued using various methods as LIFO, FIFO and weighted average method.
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A: As per LIFO method goods that comes in last are sold first, so the ending inventory is valued at the…
Q: Akira Company had the following transactions for the month. Number Cost of Units per Unit Beginning…
A: The inventory is valued using various methods as LIFO, FIFO and weighted average method.
Q: Akira Company had the following transactions for the month. Number Cost of Units per Unit Beginning…
A: FIFO: FIFO stands for First-In, First-Out. In this method inventory purchased first will be sell…
Q: Sunland Company reports the following for the month of June. Date Explanation Units…
A: 3. Moving-Average - Under the Moving-Average Method, the cost is considered to be average at the…
Q: Whispering Winds Corp. reports the following for the month of June. Units Unit Cost…
A: Cost of goods sold shows the carrying value of goods that have been sold during a particular period…
Q: The following data about Maxwell Company is given for the month of August. August 1 Inventory 800…
A: Weighted Average Cost (WAC) refers to the method of inventory valuation which uses a weighted…
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A: Under FIFO, inventory is valued at latest prices while cost of goods sold at initial prices. Under…
Q: Units Purchased Units Cost Units Issued Date 5/1 (BI) 10 P15 5/5 20 20 5/15 15 5/19 10 5/24 15 18…
A: Total no. of units issued = 15 + 10 + 15 = 40 units
Q: LOVING-KINDNESS Corp’s inventory records revealed the following: Date Transaction Number of Units…
A: Date Transaction Numberof Units UnitCost TotalCost August 1 Beginning inventory 500 P8.50…
Q: Omega Company reports the following for the month of June. Units Unit Cost June 1 Beg Inventory 300…
A: The cost of the ending inventory and the cost of goods sold can be computed by various methods. The…
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A: Solution: Computation of COGS and ending inventory - Periodic FIFO Particulars Cost of goods…
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A: Inventory Valuation Methods are methods of valuation of inventory. There are three methods of…
Q: dud's Place recorded the following data: Units Unit Date Received Sold On Hand Cost 1/1 Inventory…
A: Definition: Weighted-average cost method: Under average cost method inventories are priced at the…
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A: 1. FIFO Method - Under FIFO Method, Inventory purchased first is sold first. 2. LIFO Method - Under…
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A: Introduction: Inventory expenses are calculated using absorption costing. Manufacturing overhead…
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A: FIFO being a method of valuing inventory sells, that inventory first, which has been bought…
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A: Cost of goods available for sale: It is the value of goods that are available for sale. It is…
Q: McKay & Company experienced the following events in March: Date Event Units Unit Cost Total Cost…
A: Weighted Average cost method: In this method, the value of closing inventory is calculated on the…
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A: a)
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A: Average cost per unit = Total cost of goods available for sale / Total no. of units available for…
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A: Calculation:
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A: "Since you have posted a question with multiple sub parts, we will solve first three sub parts for…
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- ACCT 1510 (W2021) Integrative Case Assignment Due Date: Feb. 9 (7 pm)Hardform Mold Shop Inc. is a company specialized in designing and building molds for theautomotive and aircraft industries. The account balances in the company’s general ledger onJanuary 1, 2020 (first day of the annual fiscal year) were as follows (all account balances are intheir normal position):Cash $ 3,700Accounts receivable 5,900Supplies inventory 29,300Land 168,500Buildings 116,500Accumulated depreciation, buildings 37,500Equipment 58,500Accumulated depreciation, equipment 18,000Accounts payable 25,200Income tax payable 16,600Interest payable 4,200Wages payable (due in 2020) 15,700Notes payable ($10,000 due June 30, 2021, balance due June 30, 2022) 61,500Common shares 151,500Retained earnings, Dec. 31, 2019 52,200Transactions during 2020:a. The company provided mold design services, all on credit, for $210,300. In addition, thecompany manufactured molds for customers for $62,300 cash.b. Accounts receivable of…Question 1: Calculate the cost of material available for use, cost of material issued and cost of material ending under FIFO and LIFO methods (periodic system). Also give the journal entries under each of the method. Date Details Units Cost per unit Rs. Total Cost Rs Jan 01 Beg Inventory 20 10 200 Jan 05 Purchases 50 11 550 Jan 06 Issued 30 Jan 09 Purchases 40 12 480 Jan 15 Purchases 20 13 260 Jan 20 Issued 60 Jan 28 Purchases 10 15 150Comparative Analysis: Under Armour, Inc., vs. Columbia Sportswear Refer to the 10-K reports of Under Armour, Inc., and Columbia Sportswear that are available for download from the companion website at CengageBrain.com. Required: Do Under Armour and Columbia use the same method to value their inventories?
- QUESTIONS FOURThe following information was provided by Dzemkple Limited for the two weeks month ofAugust, 2018 for material ZorklaleyStock on 01/08/2018 100 units @ GHc 5 per unitDATE PURCHASES DATE ISSUES05/08/2018 300 units @ GHc 6 per unit 06/08/2018 250 units08/08/2018 500 units @ GHc 7 per unit 10/08/2018 400 units12/08/2018 600 units @ GHc 8 per unit 14/08/2018 500 unitsYou are required to calculate using FIFO and Weighted Average methods of pricing issues:(a) The value of materials consumed during the period(b) The value of stock of materials on the 31/08/2018How do i create an NPV graph on excel using these data: Unit Sale NPV 1,000,000.00 - 2,952,452.00 1,500,000.00 - 2,001,492.00 2,000,000.00 - 1,050,533.00 2,500,000.00 - 384,861.00 2,789,077.17 - 3,000,000.00 280,811.00 3,500,000.00 946,482.00 4,000,000.00 1,612,154.00 4,500,000.00 2,277,826.00eBook Show Me How Question Content Area Cost Flow Methods The following three identical units of Item LO3V are purchased during April: Item Beta Units Cost April 2 Purchase 1 $196 April 15 Purchase 1 199 April 20 Purchase 1 202 Total 3 $597 Average cost per unit $199 ($597 ÷ 3 units) Assume that one unit is sold on April 27 for $255. 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. Gross Profit Ending Inventory a. First-in, first-out (FIFO) $fill in the blank 1 $fill in the blank 2 b. Last-in, first-out (LIFO) $fill in the blank 3 $fill in the blank 4 c. Weighted average cost $fill in the blank 5 $fill in the blank 6 Please don't provide answer image based thnx
- CH11_HW_QA2_PIR Required 1: 1-a. Compute the throughput time for each month. 1-b. Compute the manufacturing cycle efficiency (MCE) for each month. 1-c. Compute the delivery cycle time for each month. (Round your answers to 1 decimal place.) Throughput Time Manufacturing Cycle Efficiency (MCE) Delivery Cycle Time Month 1 days % days Month 2 days % days Month 3 days % days Month 4 days % days Required 3: 3-a. (Month 5) Refer to the inspection time, process time, and so forth, given for month 4. Assume that in month 5 the inspection time, process time, and so forth, are the same as for month 4, except that the company is able to completely eliminate the queue time during production using Lean Production. Compute the new throughput time and MCE. 3-b. (Month 6) Refer to the inspection time, process time, and so forth, given for month 4. Assume that in month 6 the inspection time, process time, and so…PROBLEM 11: The following information has been extracted from the records of CCCCompanyabout one of its products: Number Unit Date Transaction of Units Cost 1/1 Beginning balance 1,600 P 14.00 1/6 Purchased 600 14.10 2/5 Sold at P24.00 per unit 2,000 3/19 Purchased 2,200 14.70 3/24 Purchase returns 160 14.70 4/10 Sold at P24.20 per unit 1,400 6/22 Purchased 16,800 15.00 7/31 Sold at P26.50 per unit 3,600 8/4 Sales returns at P26.50 per unit 40 9/4 Sold at P27 per unit 7,000 11/15 Purchased 1,000 16.00 12/28 Sold at P30 per unit 6,200 Compute for the closing inventory and cost of sales under the FIFO periodic methodandthe FIFO perpetual method. Compute for the closing inventory and cost of sales under the weighted averageperiodic method and the moving average method. Compute for the closing inventory and cost of sales under the LIFO periodic methodandthe LIFO perpetual method.Calculate the cost of material available for use, cost of material issued and cost of material ending under FIFO and LIFO methods (periodic system). Also give the journal entries under each of the method. Date detail Units cost per unit Rs. Total cost Rs. Jan 1 beg inventory 20 10 200 Jan 5 Purchases 50 11 550 Jan 6 issued 30 Jan 9 Purchases 40 12 480 Jan 15 Purchases 20 13 260 Jan 20 Issued 60 Jan 28 Purchases 10 15 150
- Hello! Please help me fill in the blanks in the last empty chart and answer question number 3 at the very end in bold. Thank you! :) UnitsProduced TotalLumberCost TotalUtilitiesCost Total MachineDepreciationCost 7,000 shelves $70,000 $9,550 $135,000 14,000 shelves 140,000 17,600 135,000 28,000 shelves 280,000 33,700 135,000 35,000 shelves 350,000 41,750 135,000 Cost Fixed Portionof Cost Variable Portionof Cost (per Unit) Lumber 0 10 Utilities 1,500 1.15 Depreciation 135,000 0 Question Content Area Units Produced Total Cost January 4,360 units $65,600 February 275 6,250 March 1,000 15,000 April 6,775 136,250 May 1,750 32,500 June 3,015 48,000 1. From the data previously provided, help Biblio Files Company estimate the fixed and variable portions of its total costs using the high-low method. Recall that Total Costs = (Variable Cost Per Unit x Number of Units Produced) + Fixed Cost.…Directions: Show complete solutions. Take a picture of your solutions and paste in word. Submit the word file version to my email no later than 10:30am today. Thanks. Problem 1: Quarry Company, a manufacturer of small tools, provided the following information for the year ended December 31, 2020. Inventory at December 31, based on physical count – P1,750,000 Accounts payable at December 31 – P1,200,000 Net sales – P8,500,000 Additional information: Included in the physical count were tools billed to a customer FOB shipping point on December 31, 2020. These tools had a cost of P28,000 and were billed at P35,000. The shipment was in loading dock waiting to be picked up by the common carrier. Goods in transit from a vendor to Quarry Company on December 31, 2020. The invoice cost was P50,000 and the goods were shipped FOB shipping point on December 29, 2020. Work in Process inventory costing P20,000 was sent to an outside processor for plating on December 30, 2020. Tools returned by…NEEDED IN 10 MINUTES Computational. ABC sells item A as part of its product line. Information as to balances on hand, purchases, and sales of item A are given in the following table for the first six months of 20X3.Date Purchased Sold Balance of PurchaseJanuary 1 (Inventory beginning) 3,000 units @ P250PurchasesJanuary 24, 3,300 units @ P260June 11, 2,140 units @ P280SalesFebruary 8, 4,800 units @ P350March 16, 1,060 @ P350For the 6 months under weighted average cost (periodic) determine the gross profit (Sample answer: 254,360. Round off your answer to the nearest peso)