Solution :
The optimal order quantity, EOQ =
EOQ =
= 115.47
The expected number of orders =
= 17.32
The daily demand = demand / number of working days
= 8.33
The time between the orders = EOQ / daily demand
= 13.86 days
ROP = ( Daily demand x lead time ) + safety stock
= 76.64
The annual holding cost =
= 207.85
The annual ordering cost =
= 207.85
So the total inventory cost = annual holding cost + annual ordering cost
= 207.85 + 207.85
= 415.7
Answer:
B. Debit to cash short and over $16
Explanation:
The total entry to replenish the cash would be:
office supplies. 73
cash short and over 16
Cash. 89
Answer:
Allocated overhead= $45
Explanation:
Allocated overhead = Overhead absorption rate × hours required
Machining = 4 hours × $6= $24
Sanding = 1 × $15 = $15
Painting = 2 × $3 = $6
Overhead allocated -= $24 + $15 +$6 = $45
Allocated overhead= $45
Answer:
monopolist is the market demand curve.
Explanation:
The demand curve of the monopolist describes the total demand of a product in the market, as being a monopoly all people buy from it. The demand curve slopes downward as the sales can be increased only when the prices are decreased.
The market demand curve for a competitive firm is equal to the equilibrium price usually of a firm, whereas for the entire market it is one straight horizontal line.
Thus, both show complete different perspectives of the market.
Answer:
Journal entry to record wages expense and wages payable
Explanation:
As the company incurred no cost related to these earnings for federal unemployment tax so it would be excluded from wages and salaries expense
Entry DEBIT CREDIT
Salaries and wages Expense $68,000
Social Security(FICA) $5,202
Federal income tax $14,700
State income tax $6,300
union dues $900
Salaries and wages payable $40,898