Answer:
$510 is costs assigned to ending inventory
Explanation:
According to Last-In- First-Out method of inventory valuation , items of stock received last is sold first.
As a result, the sale of 390 units on January 26 is from the purchases of 25 January (110 units), January 9 (80 units) and 200 units from the purchase made on January 1st.
Above all, closing inventory is items bought on January 1st.
Value of closing inventory=150*$3.40=$510
Answer:
224 units of output per dollar of input
Explanation:
The computation is shown below:
Productivity measures = (Total units produced) ÷ (Total labor cost + Total equipment cost)
where,
Total units produced is
= 70,000 × 52 weeks in a year × 4 years
= $14,560,000
Total units produced
= $13,000 × 4 years
= $52,000
And, the cost of equipment is $13,000
So, the productivity measures is
= ($14,560,000) ÷ ($52,000 + $13,000)
= 224 units of output per dollar of input
Answer:
Direct material price variance= $21,450
Explanation:
Giving the following information:
Direct materials 4 pounds $4.70 per pound
May:
Jackson purchased 107,250 pounds of direct material at a total cost of $525,525.
To calculate the direct material price variance, we need to use the following formula:
Direct material price variance= (standard price - actual price)*actual quantity
Actual price= 525,525/107,250= $4.9
Direct material price variance= (4.7 - 4.9)*107,250
Direct material price variance= $21,450