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igomit [66]
3 years ago
14

Midori Company had ending inventory at end-of-year prices of $138,500 at December 31, 2013; $165,771 at December 31, 2014; and $

181,366 at December 31, 2015. The year-end price indexes were 100 at 12/31/13, 113 at 12/31/14, and 118 at 12/31/15.Compute the ending inventory for Midori Company for 2013 through 2015 using the dollar-valueLIFO method. 201320142015 Ending Inventory$138,500$147,766$156,026
Business
1 answer:
alukav5142 [94]3 years ago
3 0

Answer:

Ending Inventory

2013 $138,500

2014 $147,766

2015 $156,026

Explanation:

Ending Inventory for 2013 is $138,500  as per given.

Ending Inventory for 2014

Ending Inventory of 2013                 $138,500

($138,500 x 1.00)

Add: $8,200* x 1.13                            $9,266

Total                                                   $147,766

Here,

$165,771 ÷ 1.13= $146,700

$146,700 – $138,500 = $8,200

Ending Inventory for 2015

Ending Inventory or 2013                  $138,500  

($138,500 x 1.00)  

Add:   $8,200 x 1.13               9,266

          $7,000** x 1.18                8,260

Total                                             $156,026

Here,

$153,700 – $146,700 = $7,000

Ending inventory for 2013 was already given in the question which is also the beginning inventory of 2014. The ending inventory of 2014 was already given in the question. So, what we need to do is calculating how the beginning inventory follows the ending inventory. There were changes of price indexes which is led the beginning inventory to the ending inventory as par given. The same thing goes for the ending inventory of 2015.

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NISA [10]

Answer:

Direct labor time (efficiency) variance= $2,080 unfavorable

Explanation:

Giving the following information:

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The standard labor cost is $13 per hour.

During August, Hassock produced 9,000 units and used 27,160 hours

<u>To calculate the direct labor efficiency variance, we need to use the following formula:</u>

Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate

Direct labor time (efficiency) variance= (3*9,000 - 27,160)*13

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5 0
2 years ago
Atlanta​, ​Inc., planned and actually manufactured 180,000 units of its single product in 2017​, its first year of operation. Va
steposvetlana [31]

Answer:

Net operating income= 1,080,000

Explanation:

Giving the following information:

Units produced= 180,000

Variable manufacturing cost was $ 17 per unit produced.

The variable operating​ (nonmanufacturing) cost was $ 10 per unit sold.

Planned and actual fixed manufacturing costs were $ 900,000. Planned and actual fixed operating​ (nonmanufacturing) costs totaled $ 360,000.

Atlanta sold 120, 000 units of a product at $ 44 per unit.

The absorption costing method includes all costs related to production, both fixed and variable. The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead.

Unitary fixed overhead= 900,000/180,000= $5

Unitary production cost= 17 + 5= 22

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COGS= 22*120,000= (2,640,000)

Gross profit= 2,640,000

The variable operating​ ocsts=  120,000*10= (1,200,000)

Fixed operating​ costs= (360,000)

Giving the following information:

Units produced= 180,000

Variable manufacturing cost was $ 17 per unit produced.

The variable operating​ (nonmanufacturing) cost was $ 10 per unit sold.

Planned and actual fixed manufacturing costs were $ 900,000. Planned and actual fixed operating​ (nonmanufacturing) costs totaled $ 360,000.

Atlanta sold 120, 000 units of a product at $ 44 per unit.

The absorption costing method includes all costs related to production, both fixed and variable. The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead.

Unitary fixed overhead= 900,000/180,000= $5

Unitary production cost= 17 + 5= 22

Sales= 120,000*44= 5,280,000

COGS= 22*120,000= (2,640,000)

Gross profit= 2,640,000

The variable operating​ ocsts=  120,000*10= (1,200,000)

Fixed operating​ costs= (360,000)

Net operating income= 1,080,000

5 0
3 years ago
converting quarterly and annual business plans into broad output and labor requirements for the intermediate term is known as:
Nikitich [7]

Converting quarterly and annual business plans into broad output and labor requirements for the intermediate term is known as aggregate planning.

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In this period of time the company will hire new employees to make enough output to satisfy the demands and thereby maximizing the profit with a minimum cost.

Aggregate planning ensures the efficiency and production of a company. Usually it is done as a prior activity to obtain a continuous production facility.

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5 0
1 year ago
If the supplies on hand at the end of January totaled $500 and the Supplies on Hand account before adjustment is $900, what shou
Natali5045456 [20]

Answer:

The adjustment at month-end is :

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Explanation:

The Supplies Account is an asset Account that decreases as the supplies are used in the business.

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<em>Supplies Expense $400 (debit)</em>

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levacccp [35]

Answer:

Option C is correct.

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Explanation:

The collaborations will undoubtedly work in a repeated​ prisoners' dilemma  game when the game will be rehashed infinitely.  

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The collaborations choose to work with boundlessly rehashed games by participating and embracing a socially ideal methodology.  

The principle point of cooperations is to expand their settlements in future and this is conceivable just through the selection of the interminably rehashed game system in which they need to co-work endlessly with different firms.  

As per this gaming procedure, if any of the Cooperation or firm digresses from the agreeable system, they will get decreased settlements in future.

8 0
3 years ago
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