On november 2, newsprint manufacturing purchases 5 rolls of paper on account at $125 per roll for use within the production process. on november 5, 4 rolls of this paper are issued to job 157a in the printing department. the printing department records $675 in direct labor and $1,150 of factory overhead to job 157a. on november 8, printing transfers job 157a to the folding department. the folding department applies $450 in direct labor and $655 in factory overhead to job 157a. job 157a is transferred to finished goods inventory on november 9. a. journalize the purchase of the paper. nov. 2 b. journalize (1) the transfer of raw materials to work in process, (2) the application of direct labor, and (3) the application of manufacturing overhead to job 157a while in the printing department.

You have just received notification that you have won the $2.0 million first prize in the centennial lottery. however, the prize will be awarded on your 100th birthday (assuming you're around to collect), 66 years from now. what is the present value of your windfall if the appropriate discount rate is 8 percent?

Ardmore farm and seed has an inventory dilemma. they have been selling a brand of very popular insect spray for the past year. they have never really analyzed the costs incurred from ordering and holding the inventory and currently fave a large stock of the insecticide in the warehouse. they estimate that it costs $25 to place an order, and it costs $0.25 per gallon to hold the spray. the annual requirements total 80,000 gallons for a 365 day year. a. assuming that 10,000 gallons are ordered each time an order is placed, estimate the annual inventory costs. b. calculate the eoq. c. given the eoq calculated in part b., how many orders should be placed and what is the average inventory balance? d. if it takes seven days to receive an order from suppliers, at what inventory level should ardmore place another order?

Why is efficiency an important economic goal?