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snow_tiger [21]
2 years ago
14

Jacobs Company had inventory of 15 units at a cost of $12 each on June 1. On June 5, Jacobs purchased 10 units at $13 per unit.

On June 12, it purchased 20 units at $14 per unit. On June 17, it sold 30 units. Using FIFO, what is the value of the inventory at June 17 after the sale?
a. $140
b. $160
c. $210
d. $380
Business
2 answers:
Volgvan2 years ago
8 0
The answer is c. $210
Marta_Voda [28]2 years ago
7 0

Answer: C

Explanation:

In FIFO, determine the cost of the inventory that is the oldest and multiply that cost by the amount of inventory that was sold

Value of Inventory = 15 * 14 = $210

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7 0
3 years ago
Buyers are able to buy all they want to buy and sellers are able to sell all they want to sell at Group of answer choices prices
Yakvenalex [24]

Answer:

the equilibrium price but not above or below the equilibrium price.

Explanation:

At equilibrium price, quantity demanded equals quantity supplied. At this point, buyers are able to buy all they want to buy and sellers are able to sell all they want

Above equilibrium price, there would be a surplus. the quantity supplied would exceed the quantity demanded. Sellers would not be able to sell all they want in this case

Below the equilibrium price, there would be a shortage. the quantity demanded would exceed the quantity supplied. buyers would not be able to buy all they want

8 0
3 years ago
Annual demand for an item is 11,000 units with the cost per unit at $250. The holding rate is 10% and the order cost is $14.00 p
frutty [35]

Answer:

93 units

Explanation:

Annual demand for an item = 11,000 units

cost per unit = $250

holding rate = 10%

Order cost = $14.00 per order

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Lead-time = 2 days

Average\ daily\ demand=\frac{Annual\ demand\ for\ an\ item}{No.\ of\ days\ in\ a\ year}

Average\ daily\ demand=\frac{11,000}{260}

                                              = 42.3 units

For a service level of 97%, the value of z is 1.881

Therefore,

Reorder point:

= Average daily demand × Lead time + Standard deviation of the daily demand × no. of standard deviation corresponding to service level probability × \sqrt{Lead\ time}

= (42.3 × 2) + (3 × 1.88 × \sqrt{2})

= 92.57

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Alex17521 [72]

Answer:

Contribution margin per units= $169

Explanation:

Giving the following information:

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Direct materials $38

Direct labor $ 1

Variable manufacturing overhead $8

Variable selling expense $ 4

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Contribution margin per units= 220 - 51

Contribution margin per units= $169

5 0
3 years ago
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