User Account

All Pages

What is the value of ending inventory

Assignment Help Finance Basics
Reference no: EM131225516

Convex Mechanical Supplies produces a product with the following costs as of July 1, 20X1:

 

 

Material

$ 5

Labor

3

Overhead

2

 

$ 10

 Beginning inventory at these costs on July 1 was 6,700 units. From July 1 to December 1, Convex produced 18,000 units. These units had a material cost of $7 per unit. The costs for labor and overhead were the same. Convex uses FIFO inventory accounting.

a. Assuming that Convex sold 20,000 units during the last six months of the year at $14 each, what would gross profit be?

b. What is the value of ending inventory?

Reference no: EM131225516

Questions Cloud

What is the cost of goods sold for lambda corporation : Lambda Corporation has current liabilities of $430,000, a quick ratio of 1.7, inventory turnover of 4.9, and a current ratio of 3.4. What is the cost of goods sold for Lambda Corporation?
Calculate the firm debt-to-equity : Calculate the firm's debt-to-equity ratio.(Round net income and net sales to the nearest whole dollar, e.g. 25 and round debt to equity ratio to 1 decimal place, e.g. 15.2%.)
Explain what is coefficient of correlation : Suppose during weekends, 55 percent of adults go to the beach, 45 percent go to the cinema, and 10 percent go to both the beach and the cinema. What is the probability that a randomly chosen adult does not go to the cinema?
Explain the key elements of recovering from lost assets : Describe and explain the key elements of recovering from lost assets. o What are Internet connected systems? Describe five examples. How does encryption work? Why is it considered a premier tool in IT Security?
What is the value of ending inventory : a. Assuming that Convex sold 20,000 units during the last six months of the year at $14 each, what would gross profit be? b. What is the value of ending inventory?
Calculate the line voltage and current at the load : calculate the line voltage and current at the load for t > 0 for a generator voltage of 1 V.
Write a formal letter to generally advise asic : LAW8500 Australian Commercial and Corporations Law Assignment. You as a professional accountant are asked to write a formal letter to generally advise ASIC whether there has been a breach of the Corporations Act 2001 (Cth)in the above circumstances
Determine value of rf that result in closed loop voltage : For circuit in given Figure, the transistor parameters are: hFE = 150, VBE (on) = 0.7 V, and VA = ∞. - Determine the value of RF that will result in a closed-loop voltage gain.
How much did quantum technology earn : Quantum Technology had $652,000 of retained earnings on December 31, 20X2. The company paid common dividends of $33,300 in 20X2 and had retained earnings of $513,000 on December 31, 20X1. a. How much did Quantum Technology earn during 20X2?

Reviews

Write a Review

Finance Basics Questions & Answers

  Different considerations that an mnc should keep in mind

Prepare a report on the different considerations that an MNC should keep in mind when obtaining capital from a foreign source. In this report, you must outline and evaluate two possible methods for determining cost of capital. What is the likely i..

  Find the costs of the individual capital components compute

cash2000000accounts payable and accruals18000000accounts receivable28000000notes

  Calculate the value of a one-year put option on dew stock

Calculate the value of a one-year put option on DEW stock

  Whatrsquos the best way for a company to grow suppose a

whatrsquos the best way for a company to grow? suppose a company would like to move from a regional company to a

  What is the coupon rate

A bond has a face value of $1,000, a market price of $1,112, and pays $45 in interest every six months. What is the coupon rate?

  How much total interest is paid over the life of the loan

Prepare an amortization schedule for a five-year loan of $50,000. The interest rate is 8 percent per year, and the loan calls for equal annual payments. How much interest is paid in the third year? How much total interest is paid over the life of ..

  Which investment has the higher irr

Which investment has the higher IRR?

  A firm buys on terms of 315 net 45 it does not take the

a firm buys on terms of 315 net 45. it does not take the discount and it generally pays after 75 days. what is the

  What is the npv of the project

What is the NPV of the project? Should the company make the purchase?

  If another austin powers movie had been released in 2007

if another austin powers movie had been released in 2007 and dr. evil now armed with a financial calculator wants to

  The sleeping flower co has earnings of 166 per shareif the

the sleeping flower co. has earnings of 1.66 per share.if the benchmark pe for the company is 23 how much will you pay

  The market index has a standard deviation of 22 and the

stock expected return beta firm specific standard deviationacme 13 0.8 30bundu 18 1.2 40the market index has a standard

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd