Answer:
(a) Determine the costs assigned to ending inventory and to cost of goods sold using FIFO.
Cost of Inventory 4,900
Cost of goods sold 13850
(b) Determine the costs assigned to ending inventory and to cost of goods sold using LIFO.
Cost of Inventory 6,300
Cost of goods sold 12450
(c) Compute the gross margin for each method.
Sales = 36,000
FIFO
Gross profit Margin = (36000 - 13850) / 36000 = 61.5%
Gross profit Margin = (36000 - 12450) / 36000 = 65.4%
Explanation:
The working is attached in an MS Excel file with this answer. Please find it.
Answer:
Teller cost is a variable cost.
Explanation:
As shown in table attached below.
Answer:
time between orders 25 working days
yearly ordering cost: $150
Explanation:
The annual demand is 4,000 units if order size is 400 units there will be 10 orders per year
Given a year of 50 weeks: every 5 weeks an order will be placed.
As each week has 5 working days that would mean every 25 working days
Then, total order cost:
each order cost $15 to place as there are 10 order per year it will be $150 ordering cost.
Answer:
1. Self-assessment
Explanation:
Career Management process is conscious planning of one's activities & engagements in jobs, for better financial & psychological fulfilment.
It has 5 important steps : Self Assessment, Reality Check, Goal Setting, Action Planning.
Self Assessment Stage involves gathering information from employees; to determine their career interests, values, aptitudes & behavioural tendencies. This stage often involves psychological tests of the employees, to evaluate profession or job profiles suitable to their personality types. Eg : MBTI test is an introspective self report psychological test; depicting people's preferences, worldly perceptions, decision making. SCII test is a career counselling tool, used to analyse candidate compatible career.
