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just olya [345]
3 years ago
14

he Wood Valley Dairy makes cheese to supply to stores in its area. The dairy can make 485 pounds of cheese per day (358 days per

year), and the demand at area stores is 67 pounds per day. Each time the dairy makes cheese, it costs $290 to set up the production process. The annual cost of carrying a pound of cheese in a refrigerated storage area is $0.92. Determine the minimum total annual cost.
Business
1 answer:
Kaylis [27]3 years ago
6 0

Answer :

Minimum total annual cost = $3,321.26

Explanation :

The computation of the minimum total annual cost is shown below:

As per the data given in the question,

Annual demand (D) = 67 × 358 days = 23,986

Setup cost (C) = $290

Production rate (R) = 358 days × 485 = 173,630

Holding cost(H) = $0.92

Economic production quantity(Q) = sqrt((2 × D × C) ÷ H × (1-(D ÷ R)))

= sqrt(((2 × 23,986 × $290) ÷ $0.92 × (1 -(23,986 ÷ 173,630)))

= 4,188.7  

= 4,189

Minimum total annual cost is

= (Q ÷ 2) × (1 - D ÷ R) × H + (D ÷ Q) × C

=4,189 ÷ 2 × (1 - (23,986 ÷ 173,630) × $0.92+ (23,986 ÷ 4,189) × 290

= $3,321.26

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6 0
3 years ago
The impact of financial accounting information on investors' and creditors' decisions is closely related to the concept of:_____
OlgaM077 [116]

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3 0
1 year ago
Prepare the general journal entries for Culver Company for____________.(a) The 2020 adjusting entry.(b) The sale of the Gordon s
-Dominant- [34]

Answer:

a) Debit fair value loss $7,900 Credit Investment $7,900

b) Debit Bank $66,300, Debit Fees $1,200 Credit investment $67,500

c) Debit investment $53,800, Credit Fees $1,300 Credit Bank $52,500

d) Debit Fair value loss $10,400 Credit Investment $10,400

Explanation:

c) the purchase of stock include fees and the fees are included in the cost of the shares and increase the cost of the asset hence they are capitalised on the cost. The fees are an expense directly associated with the purchase therefore are attributable costs.

the completed question

E17-15

(Equity InvestmentsTrading) Culver company has the following securities in its trading port- folio of securities on December 31, 2020.

Investments (Trading)                                                              Cost                                     Fair Value

1,500 shares of Gordon, Inc., Common                     $73,500                                   $ 69,000

5,000 shares of Wallace Corp., Common                  180,000                                   175,000

400 shares of Martin, Inc., Preferred                         60,000                                     61,600

$313,500                                 $305,600                                    

All of the securities were purchased in 2020.

In 2014, Culver completed the following securities transactions.

March 1Sold the 1,500 shares of Gordon, Inc., Common, @ $45 less fees of $1,200

April 1   Bought 700 shares of Earnhart Corp., Common, @ $75 plus fees of $1,300

Culver Companys portfolio of trading securities appeared as follows on December 31, 2021

Investments (Trading)            Cost                             Cost                            Fair Value

5,000 shares of Wallace Corp., Common      $180,000                     $175,000

700 shares of Earnhart Corp. Common         53,800                         $50,400

400 shares of Martin, Inc. Preferred              60,000                         $58,000

                                                                       293,800                       283,400

Instructions

Prepare the general journal entries for Culver Company for:

(a)The 2020 adjusting entry.

(b) The sale of the Gordon stock.

(c)The purchase of the Earnhart stock.

(d) The 2021 adjusting entry for the trading portfolio

3 0
3 years ago
Alternative A would involve substantial fixed but relatively low variable costs: fixed costs would be $250,000 per year, and var
stepladder [879]

Answer:

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Explanation:

Assuming the first alternative (A)is 250,000 fixed and 500 per boat

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We want' to know at which level B would be the best option

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A:

500 + \frac{250,000}{Q} = 2,500

\frac{250,000}{2,500 - 500} = Q

Q = 125

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1,000 + \frac{50,000}{Q} = 2,500

\frac{50,000}{2,500 - 1,000} = Q

Q = 33.33

From this point, as fixed cost will be distribute among more units, the cost will decrease meaking A better than B

From zero to 33 boats option B would be the best of the three options

6 0
3 years ago
The partnership of Brandon and Ryan is being liquidated. All gains and losses are shared in a 3:1 ratio, respectively. Before li
ICE Princess25 [194]
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Ryan:
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b.
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Ryan <span>$7,000</span>
6 0
3 years ago
Read 2 more answers
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