Dream Corporation is trying to improve its inventory control system and has installed an online computer at its retail stores. Howe anticipates sales of 126,000 units per year, an ordering cost of P4 per order, and carrying costs of P1.008 per unit. The following year, the company learns it can reduce ordering costs to P1 per order but that carrying costs will stay the same at P1.008 per unit. What is the total cost of inventory to be expected?
Q: Bonneau Corporation declares a cash dividend of $100,000 on July 1 for any shareholder on record on…
A: Dividends are the part or share of profits which is being distributed to the shareholders. It can be…
Q: In 2021, Dan Davis, age 85 and single, received Social Security benefits of $14,000, dividend and…
A: Social Security Benefit: It is the benefit which an individual get at the time or retirement or for…
Q: True or False: Borrowing and repaying debt principal does not impact net worth.
A: Net worth is the difference between the assets and liabilities of the company. If the assets are…
Q: M Inc. issued 2,000 convertible bonds in 2009 at a coupol nd a par value of £1,000. Each bond is…
A: Diluted EPS Diluted EPS is used to evaluate the quality of a company's earnings per share after all…
Q: On January 1, 2021, Morrow Inc. purchased a spooler at a cost of $40,000. The equipment is expected…
A: Depreciation expense per unit = (Cost- residual value)/Total expected units to produce
Q: Expound the following two physical control for cash received by cashiers in a grocery 1) The cash…
A: Since cash is the most liquid of all assets, a business cannot survive and prosper if it does not…
Q: 3.8 Cookie Light, Inc. normally produces 12,000 bottles of its product soda light. The following…
A: "Since you have asked multiple questions, we will solve first question for you. If you want any…
Q: How much is the amount of cash to be reported in the financial statements?
A:
Q: On January 4, 2021, Jonathan Company purchased 75% interest in Monica Corporation for P300,000.…
A:
Q: What is the normal balance of accounts payable? Group of answer choices debit either debit or credit…
A: Solution: Accounts payable are liabilities due to purchase of merchandise or services on account.…
Q: The four major financial reports that summarize the effects of economic events (like the results of…
A: Economic events are the financial transactions that are occurring in the regular course of business.…
Q: Income Statement Bullseye, Incorporated's 2018 income statement lists the following income and…
A:
Q: The following information has been extracted from the financial statements of Muggie Pty. Ltd., a…
A: Net profit is the net income of the business after considering all the expenses and all the incomes…
Q: For each of the following statements indicate if the statement is true or false. In your answer book…
A:
Q: K is a capitalist partner. In the articles of partnership, it was provided that K’s duty was to…
A: He will be entitled to right to compensation
Q: 1. Parent Company issued 75,000 new shares of its P5 par value ordinary shares valued at P12 per…
A:
Q: River and Co. has entered into a non-cancellable purchase contract which the company to purchase…
A: The company may enter into a non-non-cancellable purchase contract for the inventory to be…
Q: Choose a major publicly traded corporation, then go to the corporation's site and retrieve the…
A: The company that I have selected is Starbucks Corporation. The company was founded in the year…
Q: What is the process of transferring the debits and credits from the journal entries to the accounts…
A: Journal are the initial records of the transactions which are then posted into ledgers to every…
Q: ABC LLC is a calendar year LLC that was organized on April 1, 2020, and started business on May 1,…
A: There are some restriction over the calculation of deductible expenses in the Limited Liability…
Q: A, B, C and D are known robbers in their community. They created a Jewelry-on-hand Partnership so…
A: In any partnership, there are two or more partners who are responsible for running the business…
Q: GG Na Company has been undergoing liquidation since January 1. As of March 31, its condensed…
A: Statement of Realization and Liquidation: In case of bankruptcy, the court wants this statement so…
Q: i. Explain why the process costing approach is appropriate for this barbershop. ii. Calculate the…
A: A Local barbershop providing hair cutting services belongs to the service sector which is more of…
Q: Becky is a corporate account manager at a company that sells athletic equipment to other businesses.…
A: In the given question, Becky’s total earnings for the month was $ 3,782. These earnings included her…
Q: What is FMI’s unit cost if the commercial division buys its additional 5,000 units of part 23–6711…
A: The determination of unit cost of additional 5,000 units of part 23- 6711 and the correct transfer…
Q: sing the following accounts and balances, prepare the stockholders' equity section of the balance…
A: Stockholders' equity is the shares issued by the company that shows shares issued, paid-in capital,…
Q: Bonneau Corporation declares a cash dividend of $100,000 on July 1 for any shareholder on record on…
A: The dividend to shareholders is declared and paid from the retained earnings of the business.
Q: Using the following accounts and balances, prepare the stockholders' equity section of the balance…
A: The amount of assets remaining after all liabilities have been paid is referred to as stockholders'…
Q: Every partner may do acts of administration if there was no designated managing partner in the…
A: Partnership is an agreement between 2 or more person who are called as partners, agree to start and…
Q: The partnership is in need for an additional capital. As a capitalist partner, B was compelled to…
A: Capitalist partner refers to the partner who contributes property, money and his work or industry to…
Q: In 1989 Tom died and provided in his will that certain assets with a Fair Market Value of $6,100,000…
A: On the death of a person, all the properties he has are subject to estate tax and inheritance tax.…
Q: Information for the Hi-Test company’s production process for September follows. Assume that all…
A: The total cost of producing a product, including raw materials and operating costs, is detailed in a…
Q: Analyze the balance sheet
A:
Q: A consideration of internal control made during an audit is usually not sufficient to express an…
A: Internal controls procedures are those processes which are established for effective and efficient…
Q: What is the purpose of the statement of cash flows? What are the three types of cash flow…
A: 1. Cash flow statement : Cash flow is the financial statements which shows the cash inflow and cash…
Q: A project has a NPV of 15,000 when the cutoff rate is 10%. The annual cash flows are 20,505 on an…
A: Profitability index is used to see the attractiveness of investment or a project. It is also written…
Q: What is the normal balance of cash? Group of answer choices This is an ambiguous question debit…
A: Current assets are cash and cash equivalent and include those assets which are expected to be used…
Q: 5. The following is the year ended data for Baker Company: Sales Revenue £152,000 Cost of Goods…
A: Cost of goods available for sale is the sum of beginning inventory and cost of goods manufactured.
Q: Negotiations on a new contract have started. The contractor has 500 employees, the contract is 2.5%…
A: The correct answer for the above mentioned question is given in the following steps for your…
Q: For purposes of the election to defer Federal estate tax payments relative to an interest in a…
A: There is condition to elect extension of federal tax payment relative to an interest in a closely…
Q: Fast Trak Company, a domestic common carrier engaged in the transport of goods rovided the following…
A: 1. Non - VAT registered entity business tax = 1% of gross receipts = 1% x P2400000 = P 24000
Q: ) Appiah Company is a manufacturer of office desks. It uses a standard absorption costing system to…
A: Hi student Since there are multiple subparts, we will answer only first three subparts.
Q: explain each choices. Reportable conditions are matters that come to an auditor's attention and that…
A: Internal Control: An entity's board of directors, management, and other people are the ones who…
Q: Which of the following items has no effect on the Accumulated Adjustments Account (AAA) of an S…
A: Cost of goods sold- The cost of goods sold is the cost of producing the goods that a business sells.…
Q: If they divide the profits 2:4:6, how much should B receive?
A: 1. As no rate of interest on capital is mentioned in the question. So, no interest on…
Q: Choose the correct answer: Which of the following is equal to the SFP? A. Unadjusted trial…
A: Abbreviations used in the Question : SFP means Statement of Financial Position of Balance Sheet SCI…
Q: Victory Worship Partnership has the following account balances before liquidation (see attached…
A: As Given Before dissolution, Victory Worship Partnership had the following account balances. Some…
Q: Dee and Co. is a small manufacturing company which has prepared the following monthly budgeted…
A: Solution:- 1)Calculation of sales revenue in value required to make a target profit of GH¢ 80,000 as…
Q: Which of the following types of messages might the Active Auditor display? Question 9 options:…
A: The auditor uses various tools to help in carrying out audit procedures. The active auditor display…
Q: Regasco Gas Co. grants its customers one reward point per P100 sales. Each point is equivalent to…
A: The company may provide gift and reward while making sales to the customers and the customers then…
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
- Fisk Corporation is trying to improve its inventory control system and has installed an online computer at its retail stores. Fisk anticipates sales of 60,500 units per year, an ordering cost of $12 per order, and carrying costs of $1.20 per unit.a. What is the economic ordering quantity?___________Units b. How many orders will be placed during the year? __________Orders c. What will the average inventory be? ____________Units d. What is the total cost of ordering and carrying inventory? $____________My company, Naughty Knitts, has decided to market our products more aggressively and ride the popularity of mittens from the Bernie memes. Current sales are 60,000 units per year and are expected to increase by 20%. Carrying costs are $0.50 per unit and order costs are $10. Naughty Knitts wants to minimize its inventory costs. Calculate the company's current economic ordering quantity.Totally Tanked, Inc. sells tank tops. The firm is considering making some changes in order to achieve its goal of increasing its profit. If it makes no changes, the company anticipates the following for the coming year. Maria, one of the company’s managers suggests the following: “I think if we cut our price to $17 a tank top, we will increase our sales to 3,700,000 tank tops. I think that will help us achieve our goal” Question: If the company wants to have income from operations of $22,000,000 AND it does NOT implement Maria’s plan, how many tank tops does it need to sell? How much profit will the company make at its breakeven point? (show work) # of tank tops to be sold 3,000,000 Selling price per tank top $20 Variable expense per tank top $8 Fixed expenses for the year $20,000,000 Maria, one of the company’s managers suggests the following: “I think if we cut our…
- Totally Tanked, Inc. sells tank tops. The firm is considering making some changes in order to achieve its goal of increasing its profit.If it makes no changes, the company anticipates the following for the coming year. Maria, one of the company’s managers suggests the following: “I think if we cut our price to $17 a tank top, we will increase our sales to 3,700,000 tank tops. I think that will help us achieve our goal” Question: Mr. Big, the CEO, upon hearing Maria’s plan says “This is great! We should go forward with your plan since we will increase sales by 700,000 tank tops.” How would you answer Mr. Big? # of tank tops to be sold 3,000,000 Selling price per tank top $20 Variable expense per tank top $8 Fixed expenses for the year $20,000,000Suppose Big Box Office Supply (BBOS) purchases 100,000 office chairs every year. Ordering costs are $95.00 per order and carrying costs are $4.95 per chair. What is BBOS’s total inventory cost per year, including both carrying costs and ordering costs, if BBOS orders the EOQ of office chairs?Given: Peter Piper has projected sales of 72,000 pipes this year, ordering cost of P6 per order, and carrying costs of P2.40 per pipe. With the given data, can you give me the solution on how to get: -What is the economic ordering quantity? -Total inventory cost at EOQ -How many orders will be placed during the year?-What will the average inventory be? Thank you in advance.
- Kindmart is an international retail store. Kindmart’s managers are considering implementing a new business-to-business (B2B) information system for processing merchandise orders. The current system costs Kindmart $2,000,000 per month and $55 per order. Kindmart has two options, a partially automated B2B and a fully automated B2B system. The partially automated B2B system will have a fixed cost of $6,000,000 per month and a variable cost of $45 per order. The fully automated B2B system has a fixed cost of $14,000,000 per month and a variable cost of $25 per order. Based on data from the past two years, Kindmart has determined the following distribution on monthly orders: Monthly Number of Orders Probability 300,000 0.25 500,000 0.45 700,000 0.30 Q3. In addition to the information system’s costs, what other factors should Kindmart consider before deciding to implement a…Kindmart is an international retail store. Kindmart’s managers are considering implementing a new business-to-business (B2B) information system for processing merchandise orders. The current system costs Kindmart $2,000,000 per month and $55 per order. Kindmart has two options, a partially automated B2B and a fully automated B2B system. The partially automated B2B system will have a fixed cost of $6,000,000 per month and a variable cost of $45 per order. The fully automated B2B system has a fixed cost of $14,000,000 per month and a variable cost of $25 per order. Based on data from the past two years, Kindmart has determined the following distribution on monthly orders: Required: Prepare a table showing the cost of each plan for each quantity of monthly orders. What is the expected cost of each plan? In addition to the information system’s costs, what other factors should Kindmart consider before deciding to implement a new B2B system?Economic order quantity (EOQ). Tinnendo, Inc. believes it will sell 4 million zen-zens, an electronic game, this coming year. Note that this figure is for annual sales. The inventory manager plans to order zen-zens 46 times over the next year. The carrying cost is $0.04 per zen-zen per year. The order cost is $617 per order. It turns out that the marketing manager has underestimated the zen-zen market. The zen-zens are a smash, and current estimates are that the company will sell 8 million of them per year. Should the inventory manager simply double the EOQ order quantity? Find the new EOQ, and verify that it is the correct order quantity by finding the new carrying cost and new ordering cost. Should the inventory manager simply double the EOQ order quantity? (Select the best response.) A. Yes B. No What is the new EOQ? zen-zens (Round to the nearest whole unit.) What is the new annual carrying cost for the zen-zens? (Round to the nearest dollar.) What is the…
- Kindmart is an international retail store. Kindmart’s managers are considering implementing a new business-to-business (B2B) information system for processing merchandise orders. The current system costs Kindmart $2,000,000 per month and $55 per order. Kindmart has two options, a partially automated B2B and a fully automated B2B system. The partially automated B2B system will have a fixed cost of $6,000,000 per month and a variable cost of $45 per order. The fully automated B2B system has a fixed cost of $14,000,000 per month and a variable cost of $25 per order. Based on data from the past two years, Kindmart has determined the following distribution on monthly orders: Monthly Number of Orders Probability 300,000 0.25 500,000 0.45 700,000 0.30 Q2. What is the expected cost of each plan?Kindmart is an international retail store. Kindmart’s managers are considering implementing a new business-to-business (B2B) information system for processing merchandise orders. The current system costs Kindmart $2,000,000 per month and $55 per order. Kindmart has two options, a partially automated B2B and a fully automated B2B system. The partially automated B2B system will have a fixed cost of $6,000,000 per month and a variable cost of $45 per order. The fully automated B2B system has a fixed cost of $14,000,000 per month and a variable cost of $25 per order. Based on data from the past two years, Kindmart has determined the following distribution on monthly orders: Monthly Number of Orders Probability 300,000 0.25 500,000 0.45 700,000 0.30 Q1. Prepare a table showing the cost of each plan for each quantity of monthly orders.Hammond Supplies expects sales of 235,880 units per year with carrying costs of $2.18 per unit and ordering cost of $3.1 per order. Assuming the level of inventory is stable, what is the optimal average number of units in inventory? Round to the nearest whole number.