Answer:
a) A brainstorming meeting.
Explanation:
Have a good day and stay safe!
Answer: See explanation
Explanation:
a. The optimal order quantity can be calculated as:
= √2DS/H
where
D = 3 × 12 × 3487 × 0. 75
= 94149
Total cost incurred during purchase
= $1.55 + $0.70
= $2.25
Setup cost (S) = $186
Holding cost
= 32% × $2.25
= 0.32 × $2.25
= $0.72
Optimal order quantity
= √(2 × 94149 × 186)/0.72
= 6974.50
b. This will be calculated as:
Annual demand / EOQ
= 94149/6974.50
= 13.50
The company should order cotton 13.5 times per year.
c. Since the first order is needed on 1-July and lead time is 2 weeks, SYM should place the order before 17th June.
d. This will be:
= Annual demand / EOQ
= 94149/6974.50
= 13.5 orders
e. The resulting annual holding cost will be:
= 0.72 × (6974.50/2)
= 0.72 × 3487.25
= $2510.82
f. The resulting annual ordering will be:
= 94149/6974.50 × $186
= 13.5 × $186
= $2511
Answer:
Debit - Supplies expense $4,200
Credit - Supplies $4,200
Explanation:
Adjusting entries are prepared to ensure that the revenue and expense recognition rules, are properly applied each accounting period.
Expenses are the outflows of assets or incurrence of liabilities during a period from delivering or producing goods or services. They are incurred in an attempt to produce revenues.
The principle says that expenses should be recognized in the same period as the revenues to which they relate.
According to this rule, we should use the next equation:
Supplies expense = supplies at the beginning of the period + supplies purchased - supplies balance at the end of the period
Supplies expense = $2,000 + $3,000 - $800
Supplies expense = $4,200
Adjusting entry:
Debit (expense account) - Supplies expense $4,200
Credit (asset account) - Supplies $4,200
Answer:
Explanation:
A $60,000 increase in investment in subsidiary
