I need help with set-up, formulas, to calculate the problem. --- 1. I Carry rent trucks for moving and hauling. Each truck costs the company an average of $8,000, and the inventory of trucks varies monthly depending on the number that are rented out. During the first 8 months of last year, I Carry had the following endi
1. (a) "The steps in the accounting cycle for a merchandiser are different from the accounting cycle for a service enterprise." Do you agree or disagree? (b) Is the measurement of net income for a merchandiser conceptually the same as for a service enterprise? Explain. 5. When is cost of goods sold determined in a perpetual
The Hoosier Products Corporation produces outdoor furniture, among other products. Starting at the beginning of the Spring quarter, following is relevant data for the next year: Quarter Demand Spring 5,000 Initial Inventory: 500 Summer 8,000 Regular Labor Cost :$10/workhour Fall 6,000 Labor hours required per unit of furn
Explain how you would handle "goods in transit" in determining a company's inventory.
3 - The income statement should show non-operating expenses after the operating income line. One of the examples given in the text is vandalism. How would you classify the expenses of vandalism for a company with clothing stores in areas where these expenses happen once or twice every month? Why? Contrast this with how you tr
Inventory costs: (a) Determine the optimal order quantity, the time between orders and the annual inventory cost. (b) Determine the difference in annual inventory costs between the optimal policy and the current policy of placing two orders every month.
A company assembles motherboards which contain the Enterprise chip. The company uses 9,000 Enterprise chips each year. The supplier of the chips imposes a £5 delivery charge on each order. The chips have to be stored in a freezer resulting in a high holding cost which has been estimated at £0.48 each per month. (a) Determine
BI:$18,500 (in sales figures)purchases $44,700(at cost)net sales $50,300 (sales figures) markup is 22% based on cost, determine inventory turnover at cost..and at sales price