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Fullerton Wine Company is a retailer which sells vintage wines. The company has established a policy of reordering inventory every 30 days. A recently employed MBA has considered Fullerton's inventory problem from the EOQ model viewpoint. If the following constitute the relevant data, how does the current policy compare with the optimal policy? Ordering cost = $10 per order Carrying cost = 20% of purchase price Purchase price = $10 per unit Total sales for year = 1,000 units Safety stock = 0 a. Total costs will be the same, since the current policy is optimal. b. Total costs under the current policy will be less than total costs under the EOQ by $10. c. Total costs under the current policy exceed those under the EOQ by $3. d. Total costs under the current policy exceed those under the EOQ by $10. e. Cannot be determined due to insufficient informatio.
If, Sales = Rs. 800,000, Markup = 25% ofcost, what would be the value of Gross profit? Which of the following is correct?
The Very Poor Company is involved in making installment sales whose probability of collection is extremely low. Accordingly, it has elected to use the cost recovery method. Information regarding the years 19A and 19B.
Explain what it does in your own words?
listed below are nine technical accounting terms1. cost volume profit analysis2. contribution margin ratio3. variable
How should you account for the difference between the carrying value and the purchase price in the consolidated financial statements for 2011?
Using a perpetual inventory system, the entry to record the return from a customer of merchandise sold on account includes a
Edgemont paid a cash dividend of $25,000 in 2009. No additional stock was issued. Compute the retained earnings on December 31, 2008, and 2009.
a five-year project has an initial fixed asset investment of 295000 an initial nwc investment of 27000 and an annual
A customer of company ABC seems to be doubtful at balance sheet date.therefore company made the provision for the customer at the rate 5%.after the balance sheet date.customer paid 80% of the total amount.required:identify the type of event.2.what..
yorks outstanding stock consists of 57000 shares of cumulative 9.00 preferred stock with a 10 par value and also 142500
Define the major problem or problems. Indicate how the problems are related to one another: What has happened to the key players since the events in this case?
On February 12, 6, 000 shares of Lucas Company are acquired at a price of $22 per share plus a $240 brokerage fee. Prepare the journal entries for the original purchase, dividend and sale.
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