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marysya [2.9K]
3 years ago
7

Lindsay​ Electronics, a small manufacturer of electronic research​ equipment, has approximately 6 comma 800 items in its invento

ry and has hired Joan​ Blasco-Paul to manage its inventory. Joan has determined that 8​% of the items in inventory are A​ items, 34​% are B​ items, and 58​% are C items. She would like to set up a system in which all A items are counted monthly​ (every 20 working​ days), all B items are counted quarterly​ (every 59 working​ days), and all C items are counted semiannually​ (every 121 working​ days). How many items need to be counted each​ day?
Business
1 answer:
Nitella [24]3 years ago
6 0

Answer:

99 items

Explanation:

Total number of items = 6,800

The number of items per type is:

A= 6,800*0.08\\A=544\ items\\B= 6,800*0.34\\B=2,312\ items\\C= 6,800*0.58\\C=3,944\ items

The number of items of each type counted per day is:

n_A=\frac{544}{20}\\n_A=27.2\\n_B=\frac{2312}{59}\\n_B=39.2\\n_C=\frac{3944}{121} \\n_C= 32.6\\

The total number of items counted per day is:

n = n_A+n_B+n_C=27.2+39.2+32.6\\n=99\ items\ per\ day

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Brody Company makes industrial cleaning solvents. Various chemicals, detergent, and water are mixed together and then bottled in
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Answer:

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Beginning balance, raw materials  $124,000

Raw materials purchase                  250,000

Raw materials for production        $374,000

less raw materials, ending balance 102,000

Cost of Direct materials used     $272,000

2. Total Prime Cost:

Cost of Direct materials used     $272,000

Direct labor                                     140,000

Total Prime Cost                         $412,000

3. Total Conversion Cost:

Direct labor $140,000

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Depreciation on building 30,000

Factory insurance 15,000

Property Taxes $20,000

Utilities for factory 34,000

Indirect labor salaries 156,000

Total Conversion Cost = $440,000

4. Cost of Goods Manufactured Statement:

Prime Cost                               $412,000

Conversion cost                      $440,000

Beginning Work in Process      124,000

less ending work in process   (130,000)

Cost of goods manufactured $846,000

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5. Cost of Goods Sold Statement:

Cost of goods manufactured $846,000

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less ending finished goods      (82,000)

Cost of goods sold               $848,000

6. Income Statement                                                %

Sales Revenue                               $1,200,000      100

Cost of goods sold                             848,000        71

Gross Profit                                     $352,000        29

Operating Expenses:

Depreciation on building $50,000                           4

Property Taxes                    18,000                           1.5

Sales Office Utilities              1,800                         0.15

Administrative salaries     150,000                         12.5

Sales office salaries           90,000                          7.5

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Depreciation on building 30,000

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