Prepare the journal entry to record the sale of 1,700 units that cost $9 per unit and sold for $15 per unit. If an amount box does not require an entry, leave it blank. 000
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- eBook Print Item Fill in the missing amounts for the following 4 companies. Each case is independent of the others. Assume that only one product is being sold by each company: Company A Company B Company C Company D Units Sold 610 fill in the blank 1 fill in the blank 2 910 Sales in Dollars $24,400 $63,900 $249,900 $fill in the blank 3 Total Variable Expenses $7,320 $fill in the blank 4 $fill in the blank 5 $154,700 Per Unit C/M $fill in the blank 6 $60 $290 $140 Total Fixed Expenses $14,180 $36,600 $157,900 $fill in the blank 7 Net Operating Income (Loss) $fill in the blank 8 $6,000 $(10,000) $(24,000)Reset the November 20 purchase to 150 units, including column G. To test your formulas, suppose that Del had sold 600 units rather than 500. Sales now total 384,000. The extra units sold come from the May 13 purchase (25 units) and the November 20 purchase (75 units). Change cell B17 to 600 and cells D32 through G32 to 384,000. Alter columns E, F, and G in the Data Section to reflect the change. Your formulas should automatically redo the Calculations and Answer sections. Print the results again.Please help me answer requirement 3 and 4 with complete solutions please. Thank you Additional information Selling price P50.00 200,000 units
- Requirement 1. Calculate the EOQ. Begin by selecting the formula used to calculate EOQ. (D=Demand in units for one year, P=Ordering cost per purchase order, C=Carrying cost of one unit in stock, Q=Any order quantity.) ModifyingAbove EOQ equals StartRoot StartFraction 2 DP Over Upper C EndFraction EndRoot With Subscript EOQ=2DPC Part 2 (Round your answer to the nearest whole number.) The EOQ is 560 jerseys. Part 3 Requirement 2. Calculate the number of orders that will be placed each year. Determine the formula used to calculate the number of orders that will be placed each year, then calculate the orders per year. (Round your answer up to the nearest whole number.) ÷ = Number of ordersQUESTIONS 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 31/08/2018A firm buys and sell two models, P and Q. The following unit’s cost are available (all figures are in GHc and all the cost are borne by the firm). P Q Purchase 100 200 Delivery cost from supplier 20 30 Delivery costs to customer 22 40 Packaging costs 15 18 Selling price 150 300 Required: calculate the figure to be included in closing inventory for a unit each model, according o IAS 2 Inventories.
- eBook Show Me How Question Content Area Break-Even Sales Under Present and Proposed Conditions Portmann Company, operating at full capacity, sold 1,000,000 units at a price of $188 per unit during the current year. Its income statement is as follows: Sales $188,000,000 Cost of goods sold (99,000,000) Gross profit $89,000,000 Expenses: Selling expenses $15,000,000 Administrative expenses 14,900,000 Total expenses (29,900,000) Operating income $59,100,000 The division of costs between variable and fixed is as follows: Variable Fixed Cost of goods sold 70% 30% Selling expenses 75% 25% Administrative expenses 50% 50% Management is considering a plant expansion program for the following year that will permit an increase of $11,280,000 in yearly sales. The expansion will increase fixed costs by $3,500,000 but will not affect the relationship between sales and variable costs. 7. If the proposal is accepted…eBook Show Me How Question Content Area Break-Even Sales Under Present and Proposed Conditions Portmann Company, operating at full capacity, sold 1,000,000 units at a price of $188 per unit during the current year. Its income statement is as follows: Sales $188,000,000 Cost of goods sold (99,000,000) Gross profit $89,000,000 Expenses: Selling expenses $15,000,000 Administrative expenses 14,900,000 Total expenses (29,900,000) Operating income $59,100,000 The division of costs between variable and fixed is as follows: Variable Fixed Cost of goods sold 70% 30% Selling expenses 75% 25% Administrative expenses 50% 50% Management is considering a plant expansion program for the following year that will permit an increase of $11,280,000 in yearly sales. The expansion will increase fixed costs by $3,500,000 but will not affect the relationship between sales and variable costs. 5. Determine the…eBook Show Me How Print Item Question Content Area Break-even sales under present and proposed conditions Portmann Company, operating at full capacity, sold 1,000,000 units at a price of $187 per unit during the current year. Its income statement is as follows: Line Item Description Amount Amount Sales $187,000,000 Cost of goods sold (100,000,000) Gross profit $87,000,000 Expenses: Selling expenses $16,000,000 Administrative expenses 10,000,000 Total expenses (26,000,000) Operating income $61,000,000 The division of costs between variable and fixed is as follows: Line Item Description Variable Fixed Cost of goods sold 70% 30% Selling expenses 75% 25% Administrative expenses 50% 50% Management is considering a plant expansion program for the following year that will permit an increase of $11,220,000 in yearly sales. The expansion will increase fixed costs by $3,000,000 but will not affect the relationship…
- eBook Show Me How Print Item Question Content Area Break-even sales under present and proposed conditions Portmann Company, operating at full capacity, sold 1,000,000 units at a price of $187 per unit during the current year. Its income statement is as follows: Line Item Description Amount Amount Sales $187,000,000 Cost of goods sold (100,000,000) Gross profit $87,000,000 Expenses: Selling expenses $16,000,000 Administrative expenses 10,000,000 Total expenses (26,000,000) Operating income $61,000,000 The division of costs between variable and fixed is as follows: Line Item Description Variable Fixed Cost of goods sold 70% 30% Selling expenses 75% 25% Administrative expenses 50% 50% Management is considering a plant expansion program for the following year that will permit an increase of $11,220,000 in yearly sales. The expansion will increase fixed costs by $3,000,000 but will not affect the relationship…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 150Please show the complete solution. Thank you so much. 1. In September 15, 2015, MARK Company signed two non-cancellable purchase commitments. The first requires MARK to purchase inventory of 1,000 units at P950 each (total cost P950,000) by January 15, 2016. The second requires the company to purchase inventory of 1,000 units at P1,200 each (total cost P1,200,000) by March 15, 2016. MARK’s fiscal year end is December 31. The company uses perpetual inventory system. Movements in the price of the inventory are summarized below: December 31, 2015 - P1,100January 15, 2016 - 900March 15, 2016 - 1,300 Question: What is the amount of net gain (loss) on purchase commitment to be reported in 2015 and 2016 Statement ofcomprehensive income, respectively?