Based on the following data relating toThe Lucy Township: Printing and binding used equipment for servicing all of Lucy's depart
ments . and agencies on a cost-reimbursement basis - $120,000 Equipment used for supplying water to Lucy's residents - $ 900,000 Amounts receivable for completed sidewalk to be paid for in installments by property owners - $950,000 Cash received from federal government, restricted to highway maintenance which is accounted for in a separate fund - $995,000 1. What amount must be accounted for in a special revenue fund or funds? 2. What amount must be accounted for in an enterprise fund? 3. What amount might be accounted for in an internal service fund?
1 answer:
Answer:
1. What amount must be accounted for in a special revenue fund or funds? = $995000
2. What amount must be accounted for in an enterprise fund? = $900000
3. What amount might be accounted for in an internal service fund? = $120000
Explanation:
kindly check the attachment for detailed explanation on how the answers were gotten.
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Answer:
$418,550
Explanation:
Steps are shown below:
a. The computation of the economic order quantity is shown below:
=
=
= 2,040 units
b. The number of orders would be equal to
= Annual demand ÷ economic order quantity
= $52,000 ÷ 2,040 units
= 25.49 orders
c. The average inventory would equal to
= Economic order quantity ÷ 2
= 2040 units ÷ 2
= 1,020 units
d. The total cost of ordering cost and carrying cost equals to
Ordering cost = Number of orders × ordering cost per order
= 25.49 orders × $50
= $1,275
Carrying cost = average inventory × carrying cost per unit
= 1,020 units × $1.25
= $1,275
So, the total annual cost would be
= Purchase cost + ordering cost + carrying cost
= $416,000 + $1,275 + $1,275
= $418,550
Purchase cost = Annual demand × cost per unit
= 52,000 × $8
= $416,000