Answer:
Sale - November 10
<u>Cost of Sales</u>
= 48 units × $99
= $4,752
<u>Inventory Balance</u>
=25 units × $99
=$2,475
Sale - November 15
<u>Cost of Sales</u>
=53 units × $105
= $5,565
<u>Inventory Balance</u>
40 units × $105 = $4,200
25 units × $99 = $ 2,475
Total = $6,675
Sale - November 24
<u>Cost of Sales</u>
= 13 units × $105
= $ 1,365
<u>Inventory Balance</u>
27 units × $105 = $ 2,835
25 units × $99 = $ 2,475
Total = $5,310
Explanation:
LIFO Inventory System sells the Recently Acquired Inventory First followed By Older Inventory Acquired.
Answer: See explanation
Explanation:
a. Calculate the productivity for navy and army contracts in units produced per labor hour.
Based on the information given, for the navy contract, the total man hours to make 3380 devices will be:
= 34 × 40 × 2
= 2720 hours
Therefore, the devices per man hour will be:
= 3380/2720
= 1.24 devices per labor hour.
For the army contract, the total man hours to make 7480 devices will be:
= 44 × 40 × 2
= 3520 hours
Therefore, the devices per labor hour will be:
= 7480/3520
= 2.125 devices per labor hour
b. On which contract were the workers more productive?
The workers were more productive on the Army contract as they produced more devices per labor hour.
