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Inventory Management

Hall Corporation equivalent units for materials 4-2

Question 2: Hall Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below: Beginning work in process inventory: Units in beginning work in process inventory 500 Materials costs

EOP and the ROP and the average inventory

Satou Saitou is the purchasing agent for West Valve Company. West Valve sells industrial valves and fluid control devices. one of the most popular valves is the western, which has a annual demand of 4000 units the cost of each valve is $90 and the inventory carrying cost is estimated to be 10% of the cost of each valve. satou ha

Formation of Free-Will Partnership from separate proprietorships

Please see attachment. The post-closing trial balances of two proprietorships on January 1, 2008 are presented below. Free Company Will Company Dr. Cr. Dr. Cr. Cash $ 9,500 $ 6,000 Accounts Receivable 15,000 23,000 Allowance for Doubtful Accounts $ 2,500 $ 4,000 Merchandise I

Interim reporting

Interim financial reporting has become an important topic in accounting. There has been considerable discussion as to the proper method of reflecting results of operations at interim dates. Accordingly, the Accounting Principles Board issued an opinion clarifying some aspects of interim financial reporting. Instructions:

Inventory Management: Backordering allowed

Wiley's TV Town sells VCR's. Weekly demand has averaged 40 VCR's per week. Wiley makes a gross profit of $50 per VCR sold (not including inventory costs). Holding costs are $260 per VCR per year and reorder costs are $42 per order. Lead time is 1 week and the store operates 52 weeks in a year. Part A Determine: 1

Biondi Industries: Joint Costs Allocation, Production Decisions, Split off PST-4

Biondi Industries is a manufacturer of chemicals for various purposes. One of the processes used by them is HTP-3 a chemical used in hot tubs and swimming pools; PST-4 a chemical used in pesticides; and RJ-5 a product that is sold to fertilizer manufacturers. Biondi uses the net-realizable-value method to allocate joint prod

Engle Company Costs Of Goods Sold And Inventory

I need some assistance with the attached file. P-4 The income statement of Engle Company includes the items listed below: Net sales $900,000 Gross profit on sales 315,000 Beginning inventory 100,000 Purchase discounts 15,000 Purchase returns and allowances 8,000 Freight-in 10,000 Operating expenses 300,000 P

LIFO and FIFO Ending Inventory

Please do only number 4 and 6. The ABC Company has the following inventory records. 2/1 Beginning balance 7@ $10 $ 70 2/5 Purchase 10@ 9 90 2/10 Sale 13@ 20 260 2/17 Purchase 12@ 11 132 2/23 Sale 10@ 20 200 2/25 Purchase 11@ 6 66 3/10 Purchase 15@ 8 120 3/15 Sale 30@ 20 600 3/19 Purchase 18@ 4 72 4. For the month

Kudler Fine Food

Please help me so I can complete the following: Kudler plans to start contracting with local growers of organic produce. If it takes this step, operational changes will be necessary. Write a 1,400-1,750-word paper in which you do the following: a. Identify those business processes at Kudler that could be affected by this dec

EOQ and Inventory Subject to Known Demand

This problem entails knowing Inventory Control Subject to known demand. Based out of the book Production and Operations Analysis-5th edition ISBN 0072865385 which is almost Identical to 4th ed. A local machine shop buys hex nuts and molly screws from the same supplier. The hex nuts cost 15 cents each and the molly screws co

Barbara Bright is the purchasing agent for West Valve Company.

Barbara Bright is the purchasing agent for West Valve Company. West Valve sells industrial valves and fluid control devices. One of the most popular valves is the Western, which has an annual demand of 4,000 units. The cost of each valve is $90, and the inventory carrying cost is estimated to be 10% of the cost of each valve. Ba

Inventory Management - Ordering and Inventory

The Bozo Co is reviewing their inventory management techniques and have come up with the following data on their inventory. a. annual usage of units $125,000 b.ordering costs if $100 per order c. carrying cost of 20% of the cost of inventory d. cost of one unit $110 1. what is the economic ordering quantity? 2. how man

Academic approach to Inventory Management

An organization uses 4000 boxes of bolts a year. The boxes cost $28 each. Ordering cost is $250 and a holding cost of 15% of the purchase cost oer unit on an annual basis. There is a constant holding of a safety stock of 100 boxes of bolts. Determine: a. the economic order quantity b. the total cost of carrying the bolts(ex

What are Meditech's problems in introducing new products?

Case website: http://ocw.mit.edu/NR/rdonlyres/Sloan-School-of-Management/15-762JSpring-2005/6451C56C-2BC3-48EB-9FED-87AAA0C4DB97/0/meditech_student.pdf Questions: 1. What are Meditech's problems in introducing new products? In manufacturing ALL products? 2. What is driving these problems, both systemically and organizati

Plaza Company

I am having trouble with a problem similar to this one and if you could complete this problem I could use the example to figure out my problem. The problem is attached. 1.Prepare the company's 2005 manufacturing statement. 2. Prepare the company's 2005 income statement that reports separate categories for (a) selling e

Master Budgeting for Example Companies

1. The Rocky Mountain Company produces snowboards. Each snowboard requires six pounds of carbon fiber. The company's management predicts that 3,200 snowboards and 2,000 pounds of carbon fiber will be in inventory March 31 of the current year and that 9,600 snowboards will be sold during the next (second) quarter. Management wan

Inventory Control

Includes examples of internal inventory control and cash along with cash documentation procedures. Best practices included.

Inventory Management - Drake Radio

Drake Radio Drake Radio got its start during World War I by manufacturing radio communications equipment for the military. By the start of World War II, Drake was one of the largest suppliers of military communications equipment. After World War II, Drake diversified into the following three market areas: Military communi

Inventory Control Models - John Lindsay

John Lindsay sells disks that contain 25 software packages that perform a variety of financial functions including net present value, internal rate of return, and other financial programs tpically used by business students majoring in finance. Depending on the quantity ordered, JOhn offers the following price discounts. The annu

Inventory Management - Hayes Electronic

Hayes Electronic stocks and sells a particular brand of personal computer. It costs the firm $450 each time it places an order with the manufacturer for the personal computers. The cost of carrying one PC in inventory for a year is $170. The store manager estimates that the total annual demand for the computers will be 1,200 uni

Martin Pullin Bicycle Corporation

Dear OTA, Please help me with detail explanation and working wherever necessary. Please see attachment. Thanks Martin Pullin Bicycle Corporation (MPBC), located in Dallas, is a wholesale distributor of bicycles and bicycle parts. Formed in 1981 by cousins Ray Martin and Jim Pullin, the firm's primary retail outlets

Costs - Herget, Inc

Herget, Inc employs a normal costing system. The following information pertains to the year just ended. Total manufacturing costs were $2,500,000. Costs of Goods Manufactured was $2,425,000. Applied manufacturing overhead was 30 percent of total manufacturing costs. Manufacturing overhead was applied to production at a