Answer:
c. 246 units
Explanation:
Daily demand, d = 20 units
Service Level = 95 % = 0.95. Z (according to Standardized Normal Curve) = 1.65
Average Lead Time, LT-bar = 9 days
Standard deviation of Lead Time, σLT = 2 days
Reorder Point = Expected Demand during Lead time + Safety Stock
Reorder Point = d*LT-bar + z*d*σLT
Reorder Point = (20*9) + (1.65*20*2)
Reorder Point = 180 + 66
Reorder Point = 246 units
You are considering investing in a bank account that pays a nominal annual rate of 7%, compounded monthly. If you invest $3,000 at the end of each month, how many months will it take for your account to grow to $275,000
Answer:
To answer is 73.6 months(approximately 74 days)
Explanation:
Future value (FV) = $275,000
Annual interest rate(i) = 7%
Monthly interest rate = 0.58%(7/13)
Periodic cash outflow (PMT) = $3,000
Number of months (N) = ?
Using a texas BA II Plus calculator
FV = 275,000; PMT = -3,000; I/Y = 0.583 CPT N= 73.6
Therefore the number of months is 73.6 months. Approximately, 74 days
The Molding Department of Sunland Company has the following production data: beginning work in process 25200 units (70% complete), started into production 474000 units, completed and transferred out 449700 units, and ending work in process 49500 units (30% complete). Assuming all materials are entered at the beginning of the process, equivalent units of production for materials are:____.
a. 459150.
b. 499200.
c. 464550.
d. 449700.
Answer:
b. 499200
Explanation:
Calculation to determine what the equivalent units of production for materials are:
Using this formula
Equivalent units of production for materials=Completed and transferred out units+ Ending work in process units
Let plug in the formula
Equivalent units of production for materials=449700units+ 49500units
Equivalent units of production for materials=499200
Therefore Assuming all materials are entered at the beginning of the process, equivalent units of production for materials are:499200
Albatross Company purchased a piece of machinery for $60,000 on January 1, 2019, and has been depreciating the machine using the double-declining-balance method based on a five-year estimated useful life and no salvage value. On January 1, 2021, Albatross decided to switch to the straight-line method of depreciation. The salvage value is still zero and the estimated useful life did not change. Ignore income taxes.
Required:
a. What type of accounting change is this, and how should it be handled?
b. Prepare the journal entry to record depreciation for 2017. Show all calculations clearly.
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Answer:
Currently, the income statement for company reflects a total period cost for depreciation of $7,876,000
