Business, 14.04.2020 21:36, tilly40oooo

On the basis of the following data, determine the value of the inventory at the lower of cost or market.

Product Inventory Cost Per Market Value per Unit
Quantity Unit (Net Realizable Value)
Class 1:
Model A 8 $171 $156
Model B 50 206 183
Model C 46 249 236
Class 2:
Model D 35 158 137
Model E 34 278 296

a. Determine the value of the inventory at the lower of cost or market applied to each item in the inventory.

Inventory at the Lower of Cost or Market
Product Total Cost Total Market Lower of Total Cost or Total Market
A
B
C
D
E
Total

b. Determine the value of the inventory at the lower of cost or market applied to each class of inventory.

Answers: 3

Show answers

Other questions on the subject: Business

Business, 21.06.2019 15:00, destinyycooper

In its first year of operations, crane company recognized $31,700 in service revenue, $7,700 of which was on account and still outstanding at year-end. the remaining $24,000 was received in cash from customers. the company incurred operating expenses of $16,600. of these expenses, $12,690 were paid in cash; $3,910 was still owed on account at year-end. in addition, crane prepaid $3,260 for insurance coverage that would not be used until the second year of operations.

Answers: 3

continue

Business, 22.06.2019 01:50, Kana81

You are an employee of an u. s. firm that produces personal computers in thailand and then exports them to the united states and other countries for sale. the personal computers were originally produced in thailand to take advantage of relatively low labor costs and a skilled workforce. other possible locations considered at that time were malaysia and hong kong. the u. s. government decides to impose punitive 100% ad valorem tariffs on imports of computers from thailand to punish the country for administrative trade barriers that restrict u. s. exports to thailand. how do you think your firm should respond? what does this tell you about the use of targeted trade barriers?

Answers: 3

continue

Business, 22.06.2019 20:50, aberiele1998

You are bearish on telecom and decide to sell short 100 shares at the current market price of $50 per share. a. how much in cash or securities must you put into your brokerage account if the broker’s initial margin requirement is 50% of the value of the short position? b. how high can the price of the stock go before you get a margin call if the maintenance margin is 30% of the value of the short position? (input the amount as a positive value. round your answer to 2 decimal places.)

Answers: 3

continue

Business, 22.06.2019 22:20, arisworlld

With q7 assume the sweet company uses a plantwide predetermined overhead rate with machine-hours as the allocation base. and for q 10,11,13,and 14,assume that the company use department predetermined overhead rates with machine-hours as the allocation bade in both departements.7. assume that sweeten company used cost-plus pricing (and a markup percentage of 80% of total manufacturing cost) to establish selling prices for all of its jobs. what selling price would the company have established for jobs p and q? what are the selling prices for both jobs when stated on a per unit basis assuming 20 units were produced for job p and 30 units were produced for job q? (do not round intermediate calculations. round your final answers to nearest whole dollar.)total price for the job for job p -job q selling price per unit for job p q . how much manufacturing overhead was applied from the molding department to job p and how much was applied to job q? (do not round intermediate calculations.) job p job q manufacturing overhead applied for job p for job q . how much manufacturing overhead was applied from the fabrication department to job p and how much was applied to job q? (do not round intermediate calculations.)job p job q manufacturing overhead applied for job p for job q . if job q included 30 units, what was its unit product cost? (do not round intermediate calculations. round your final answer to nearest whole dollar.)14. assume that sweeten company used cost-plus pricing (and a markup percentage of 80% of total manufacturing cost) to establish selling prices for all of its jobs. what selling price would the company have established for jobs p and q? what are the selling prices for both jobs when stated on a per unit basis assuming 20 units were produced for job p and 30 units were produced for job q? (do not round intermediate calculations. round your final answer to nearest whole dollar.)total price for the job p for job q selling price per unit for job p for job q

Answers: 1

continue

Do you know the correct answer?

On the basis of the following data, determine the value of the inventory at the lower of cost or mar...