An expanded version of the accounting equation could be:
A. A + Rev = L + OE - Exp B. A - L = Paid-in Capital - Rev - Exp C. A + Exp = L + Beginning Paid-in Capital + Rev D. A = L + Paid-in Capital - Rev + Exp
Purchases, Inventory and Cost of Goods Sold (COGS)
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Inventory-Ordering Cost
Mr. Paul sells 3600 electric motors each year. The cost of these motors is $200 each, and demand is constant throughout the year. The cost of placing an order is $40, and the holding cost is $20 per unit per year. There are 360 working days per year and the lead time is five days. If Mr. Paul orders 200 units each time he places
Maximum Inventory Level
Peter is a production manager for a manufacturing firm that produces staplers. The annual demand for the stapler is 1,600 units. The holding cost is $2 per unit, per year. The cost of setting up the production line for this is $25. There are a total of 200 working days per year. The production rate for this product is 80 per
Budgeting: Operating Expenses, Cost of Goods and Net Income
Use the following to answer questions 47-20. Harlow Promotions, Inc. sells T-shirts for concerts. The company has developed the following budget for the coming year based on a sales forecast of 80,000 T-shirts: Sales $1,600,000 Cost of Goods Sold
Business analysis for Barker Brothers: inventory costs, process cost system, job order
Use the following to answer questions 1-2. Barker Brothers manufactures a single product using a process involving (1) mixing ingredients and (2) a subsequent packaging operation. Barker uses a process cost system to account for the flow of costs through its production process. 1. Refer to the information above. In the pro
Inventory cost flow assumption vs. several choices
Should International Accounting Standards provide for only one inventory cost flow assumption or should there be several choices? Carefully explain why.
Accounting Multiple choice questions
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Queston
1. What is the significance of accounting for inventories? What "difference does it make" if the amounts reported are accurate or not?
Inventories valuation
Complete Questions 9-8, 9-9, 9-16 and 9-5A. All work must be shown and the answers must be aligned and formatted as indicated in the questions.