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Alex
3 years ago
9

Prepare the Unadjusted Trial Balance for Smart Touch Learning as of December 31, 2016. Enter accounts in order of assets, liabil

ities, common stock, dividends, revenues, and expenses. Assume all accounts have normal balances.
Account Balance
Accounts Receivable 600
Cash 43,410
Common Stock 39,100
Dividends 3,600
Furniture 12,400
Office Supplies 510
Prepaid Insurance 1,900
Rent Expense 1,200
Salaries Expense 2,000
Service Revenue 23,200
Unearned Revenue 3,700
Utilities Expense 380
Business
1 answer:
Ede4ka [16]3 years ago
4 0

Answer: Please see the attached excel file for the un-adjusted trial balance.

Explanation: Trial balance is a worksheet that comprises the balances in the account / ledgers balance in debits and credits form, in such a way that all the amounts total zero. The major checker to the trial balance is to ensure that the total amounts equal zero. If there is a difference, it is an indication of imbalance in the trial balance and calls for investigation.

In this scenario, the accounts have been appropriately classified into debit and credit with columns that comprise the normal balance and the account classification.

<u>Please note that dividends was treated as dividend paid (expense) though it was expected to either be dividend payable or dividend income.</u>

Download xlsx
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Answer:

The answer for each requirement is given separately below.

Explanation:

What is the economic production quantity (EPQ)?

EPQ = ((Annual Requirement * setup cost *2)/Carrying cost per unit)^(1/2)

         = ((30,000 * 50 *2)/3^(1/2)

         = 1000 Units

a. What is the average inventory level for this optimum production quantity?

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b. How many production setups would there be in a year?

Production setups = Annual Usage /EPQ = 30 set ups

C. What is the optimal length of production run in days

length of production = Total Requirement/production per day

                                   = 30,000/275

                                   =110 days approx

d. What would be the savings in annual inventory Cost if setup costs can be reduced to US$40 per setup?

If set up cost reduce to $40  than EPQ = 895

So Set up cost = 30,000/ 895 * 40 = 1,360

Carrying cost = 883/2 *3                  = 1,325

Total Cost                                          = $ 2,685 -A

If set up cost  $50  than EPQ = 1000

So Set up cost = 30,000/ 1000 * 50   = 1,500

Carrying cost = 1000/2 *3                  = 1,500

Total Cost                                          = $ 3,000- B

Saving = B-A = 315 Dollars

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