14 purchase. Trader uses a perpetual inventory system. Determine the costs assigned to the December 31 ending inventory when costs are assigned based on (a) FIFO, (b) LIFO, (c) weighted average, and (d ) specific identification. December 7 10 units @ $ 6 cost December 14 20 units @ $12 cost December 21 15 units @ $14 cost a) FIFO = 15 @ 12/unit + 15@ 14 per unit = $390 b) LIFO = 10 @ 6/unit + 20@ 12 per unit = $300 c) Weighted average = 30 units @ 11.33 per unit = $340 d) specific
Words: 544 - Pages: 3
5:19 AM I have found this week’s discussion assignment a little bit challenging to my part. I am yet to learn from peers about this one. Here is what I am currently thinking of. For option 1: First of all, after running the program we have: Menu 1.FIFO 2. LRU 3. LFU ENTER YOUR CHOICE: 1 enter no. of buffers (available buffers in the pool): 2 enter the no of pages (items to be stored): 6 enter the page value (an item to place in a buffer): 5 5 5 10 20 5 buffer :5 -1 buffer :5 -1 buffer
Words: 645 - Pages: 3
Step 1: Identify the problem(s) and uncertainties. What exactly is the problem… Customers (Sears & True Value Hardware) have been complaining about late shipments.Unreliable forecasting for Padreto items (i.e. Bow Rake) | The problem is this … The production department do not know how marketing is coming up with their forecasts.There are usually shortages toward the end of the yearForecasts are done by the month for the following yearForecasts are usually reduced by at least 10 percent
Words: 725 - Pages: 3
ACCT 402 Check Figures from Publisher – 15th Edition (assigned problems in bold) Chapter 4. Job Costing 4-16 Job costing a c e g h k l n o p q r s u Process costing b d f i j m t 4-17 1. B 180% A 190% 2. A $127,000 N $124,000 3. N underallocated $145,000 4-18 1. B $50 A $47 2a. L $188,926 M $221,720 2b. L $186,166 M $218,600 4-19 1. $24 per mh 2. $4,080,000 3. overallocated $30,000 4-20 1. M $36 A 180%
Words: 8482 - Pages: 34
Chapter 7 Inventories: Cost Measurement and Flow Assumptions Classifications of Inventory Raw Materials Inventory – includes the tangible goods acquired for direct use in the productions process. Goods in Process Inventory – includes the products that have been started in the manufacturing process but have not yet been completed. The partially completed inventory includes three cost components: 1) raw materials 2) direct labor, which is the cost of the labor used directly in the
Words: 1312 - Pages: 6
Memorandum To: Richard Johnson, President From: Robert Kinkaid, Financial Vice President Subject: Appraise for the proposals Date: October 4. 2015 This memo writes for appraising president’s proposals. The Depreciation Method: It is hard to eliminate deferred tax liability through changing the depreciation method from tonnage-of-production method to straight line depreciation method. At the first, there is a comparison different depreciation method. Unit-of-production method is a depreciation
Words: 2189 - Pages: 9
Question 1 Net income is gross profit less • financing expenses. • operating expenses. • other expenses and losses. • other expenses. Question 2 On November 2, 2014, Kasdan Company has cash sales of $6,000 from merchandise having a cost of $3,600. The entries to record the day's cash sales will include: • a $3,600 credit to Cost of Goods Sold. • a $6,000 credit to Cash. • a $3,600 credit to Inventory. • d a $6,000 debit to Accounts Receivable. Question 3 Glenn Company purchased
Words: 1241 - Pages: 5
Process Costing assign cost based on actual DM, DL, and OH is applied using predetermine rate using either FIFO or WA * Standard – Job order costing assigns cost based on the standard cost for DM,DL, and OH is applied using predetermined rate when goods are completed. Process costing is assigned using standard cost for DM, DL, and OH is standard using predetermined rate always FIFO * Job order cost sheet- is a source document that provides virtually all financial information about a
Words: 484 - Pages: 2
Manzana Insurance The Fruitvale branch is not faring well, they are behind competitor Golden Gate in new policies(375 to 326 in favor of Golden Gate), endorsements(300 to 206 in favor of Golden Gate), renewals (1,400 to 1,063 in favor of Golden Gate), turnaround time (2 days to 6 days in favor of Golden Gate), and renewal loss rate (15% to 47% in favor of Golden Gate) in the most recent quarter. The number of renewals, and endorsements at the Fruitvale branch are lower
Words: 1750 - Pages: 7
Operating Systems Concepts Contents Introduction 3 Virtual Memory 3 First In First Out 4 Least Recently Used 5 References 6 Introduction As we gain a better understanding of how computers and their operating systems work, we are able to better grasp how they handle the execution of programs. As we first learn to use computers we really do not think about the things that programs need in order to run, such as memory, as long as everything works. Although as we advance our
Words: 960 - Pages: 4
