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ICE Princess25 [194]
3 years ago
11

Sunland Company sells its product for $90 per unit. During 2019, it produced 60000 units and sold 50000 units (there was no begi

nning inventory). Costs per unit are: direct materials $25, direct labor $12, and variable overhead $1. Fixed costs are: $720000 manufacturing overhead, and $90000 selling and administrative expenses. Ending inventory under variable costing is
Business
1 answer:
Sonja [21]3 years ago
3 0

Answer:

Ending inventory value= $380,000

Explanation:

Giving the following information:

Costs per unit are: direct materials $25, direct labor $12, and variable overhead $1.

Ending inventory in units= 10,000

<u>Under the variable costing method, the unit product cost is calculated using direct material, direct labor, and variable overhead.</u>

Unit product cost= 25 + 12 + 1= $38

Ending inventory value= 38*10,000= $380,000

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When the grocery store orders a large shipment of chocolate candy just before Valentine's Day, this type of inventory is typical
Gre4nikov [31]

When the grocery store orders a large shipment of chocolate candy just before Valentine's Day, this type of inventory is typically called Anticipatory inventory.

<h3>What is Anticipatory inventory?</h3>
  • Anticipatory inventory is the stock that is continued to accord to the normal buyer interest. It is very like wellbeing stock however it contrasts as in this stock is generally kept occasionally when the interest for items can shift enormously.
  • This inventory enables a company to adapt to changes in customer demand.
  • It enables the company to constantly provide customer service.
  • When demand fluctuates, it enables the company to grow its operations.
  • This inventory type may resemble safety stock quite a bit. It varies from safety stock, though, in that it is kept on hand by the business to handle demand swings. This change reflects the anticipation of rising demand in the near future.
  • If a scarcity or price increase is anticipated soon, businesses might store more inventory.

Hence, this kind of inventory is frequently referred to as anticipatory inventory, such as when the grocery store orders a huge supply of chocolate candies right before Valentine's Day.

To learn more about inventory refer to:

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2 years ago
The Industrial Revolution focused on what?
lutik1710 [3]
It focused on more technological advancements
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3 years ago
The substitution effect is the portion of a change in quantity demanded that is due to a change in the relative price of the goo
Serga [27]

Answer:

True

Explanation:

The <em>Substitution Effect</em> is the effect on the demand of a certain product because of variations of the prices of the product or the income of households. The concept illustrates how quantities demanded of a product decrease as the population find other products to substitute it.

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3 years ago
Read 2 more answers
Uniform Supply accepted a $6,300, 90-day, 8% note from Tracy Janitorial on October 17. If the note is dishonored, but Uniform Su
Dovator [93]

Answer:

Debit Cash $6,426; credit Interest Revenue $21; credit Interest Receivable $105, redit Notes Receivable $6,300.

Explanation:

Based on the information given the appropriate journal entry that Uniform Supply should make on January 15 of the next year will be:

Debit Cash $6,426

($6300+$105+$21)

Credit Interest Revenue $21

($6300*8%*15/360)

Credit Interest Receivable $105

(6300*8%*75/360)

Credit Notes Receivable $6,300

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