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polet [3.4K]
1 year ago
15

Write a short essay about inventory control( involves kind of inventory reason and approach)​

Business
1 answer:
svlad2 [7]1 year ago
6 0
<h3>Inventory Control</h3>

Inventory control is a process of maintaining the right amount of parts and products in stock to avoid shortages, overstocks, and other expensive problems that might arise in the future.

The purpose of inventory control is to reduce the number of slow-selling products that a company purchases and to increase the number of high-selling products that are purchased. As a result, businesses are able to save time and money. This is because they don't have to spend a lot of time and effort reordering goods that they don't really need, or receiving goods they don't actually need. As an additional benefit, these products are not stored in warehouses at all, which means that transportation costs are reduced and space is freed up for fast-moving finished goods, which is a further benefit.

It is critical to understand that using inventory control can help you avoid making rash decisions, as well as avoiding the pain and expense associated with overstocking your shelves. As its name suggests, inventory control helps you maintain control over your inventory level. This helps you make the best use of your resources and avoid product spoilage and obsolescence.

<em>Hope this helps :)</em>

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Plush Corporation purchased 100 percent of Common Corporation’s common stock on January 1, 20X3, and paid $450,000. The fair val
Oxana [17]

Answer:

Please refer the detail answer in the memo below

Explanation:

Date: 24 January 20XX

Subject: Review of Impairment of Goodwill

From: External Auditors

To: Chief Accountant, Plush Corporation

Upon review of the investment made by your company in Common Corporation, we believe that there are possible indications of the impairment of the goodwill initially recognized in the books upon acquisition.

At the time of Acquisition:

Consideration = $450,000

Fair Value of Net Assets = $430,000

Goodwill = $450,000 - $430,000 = $20,000

The new guidance issued by FASB, requires only a one-step quantitative impairment test, whereby a goodwill impairment loss will be measured as the excess of a reporting unit’s carrying amount over its fair value.

However, if we follow the previous guidance of FASB, we have to test the impairment with the following three steps:

Step 1: We will compare the carrying amount of the net assets with the Fair value of Reporting Unit, and if the carrying amount exceeds the fair value, we will record the impairment.

Step 1: We will compute, implied value of goodwill by comparing the fair value of the reporting unit with the fair value of the identifiable net assets, if FV of net assets are higher, then there is no impairment, otherwise we will jump to Step 3.

Step 3: If the calculated implied value of the goodwill is lower than the actual goodwill at acquisition, than the difference is the impairment loss, however in case the implied value of the goodwill is higher than the actual goodwill at acquisition, no impairment shall be recorded.

Apparently, since the fair value of Common had increased to $485,000, there is no need to recognize the impairment loss on goodwill; however we believe that the estimated fair value of Common is less than the $430,000 and therefore impairment should be recorded.

7 0
3 years ago
QS 19-10 Computing contribution margin LO P2 D’Souza Company sold 6,000 units of its product at a price of $88.00 per unit. Tota
Nikitich [7]

Answer:

$218,400

Explanation:

The computation of contribution margin is here below:-

                                               Units       Cost per unit         Total

Sales                                     6,000        $88                       $528,000

Less:

Variable production cost     6,000        $40.8                  $244,800

Variable selling and

administrative costs        6,000         $10.8                   $64,800

Contribution margin                                                           $218,400

Therefore the we multiplied the sale unit with cost per unit, in the similar way we multiplied the Variable production cost unit with cost per unit and Variable selling and administrative costs with cost per unit to reach the contribution margin.

4 0
3 years ago
Start by clearly defining your topic with a thesis statement.
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Explanation:

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4 0
3 years ago
Read 2 more answers
A consumer's goal in buying a good or service is to get the most out of his or her income, or to maximize total utility. This is
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3 years ago
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Hoi Chong Transport, Ltd., operates a fleet of delivery trucks in Singapore. The company has determined that if a truck is drive
Anvisha [2.4K]

Explanation:

The computation of the fixed cost and the variable cost per hour by using high low method is shown below:

Variable cost per hour = (High Operating cost - low operating cost) ÷ (High driven in kilometers - Low driven in kilometers)

where,

High operating cost = 114,000 km × 12.7%

= $14,478

Low operating cost = 76,000 km  × 14.8%

= $11,248

So,

= ($14,478 - $11,248) ÷ (114,000 km - 76,000 km)

= $3,230 ÷ 38,000 km

= $0.085 per km

Now the fixed cost equal to

= High operating cost - (High driven in kilometers × Variable cost per km)

= $14,478 - (114,000 km × $0.085)

= $14,478 - $9,690

= $4,7882

2. The equation is as follows

Y = a + bx

So,

Total cost = $4,788 + 0.085X

3.

Y = a + bx

   = $4,788 + 0.085 × 95,000

   = $4,788 + $8,075

   = $12,863

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3 years ago
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