Answer:
a) 32 refrigerators
b) 28.39 approximately 29 refrigerators
Explanation:
Given:
Cost of order, S = $100
H = 20% of 500 = 100
Cost of refrigerator = $500
Annual demand, D = 500
S.d = 10
Lead time, L = 7 days.
a) To find the economic order quantity, Q_opt, let's use the formula:
The economic order quantity is 32 refrigerators.
b) The reorder point, R, is calculated as:
R = (d' * L) + ( z * s.d)
Where d' is daily demand which is calculated by dividing annual demand by 365 days.
d' = 500/365 = 1.37
At 97% service probability.
Using the excel function, NORMSINV(0.97) = 1.88.
Therefore z = 1.88
Solving for R, we have:
R = (1.37 * 7) + (1.88 * 10)
= 28.39
≈ 29
If the distributor wants a 97% service probability, the reorder point, R, should be 29 refrigerators
Explanation:
Adjusting entries of fees collected in advance:
1. Dr unearned fee 6600
Cr fees earned 6600
Depreciation of Computers:
Dr Depreciation expense - computer 1650
Cr Accumulated depreciation 1650
Depreciation of Furniture:
Dr Depreciation expense - office furniture 1925
Cr Accumulated depreciation 1925
Adjusting entries of salaries:
Dr Salary expense 2695
Cr Salary payable 2695
Adjusting entries of Insurance:
Dr Insurance expense 1430
Cr prepaid insurance 1430.
Adjusting entries of office supplies:
Dr Office supplies expense 528
Cr Office supplies 528
Adjusting entries of utilities:
Dr Utilities expense 77
Cr Utilities payable 77
Answer:
beg8ner ine expert one explorer ine is types of it
Answer:
you should write it just like it says
Answer:
$612,230
Explanation:
Since in the question it is mentioned that the company used the job order cost system for production of specialty patio furniture
Also there is various balances mentioned in the question
Now the total of all open job order cost is equivalent to the work in process amount i.e. $612,230 and the same is to be considered
Hence, the total is $612,230
