What is the value of ending inventory

Reference no: EM13287548

A corporation produces a product with the following costs as of July 1, 2011: Material ($2 per unit), Labor ($4 per units), Overhead ($2 per units). Beginning inventory at these costs on July 1 was 3,000 units. From July 1 to December 1, 2011, this company produced 12,000 units. These units had a material cost of $3, labor of $5, and overhead of $3 per units. This company uses FIFO inventory accounting. Assuming that the company sold 13,000 units during the last six months of the year at $16 each, what is its gross profit? What is the value of ending inventory? What's the Old inventory units in quantity and cost, as well as the new inventory quantity and cost. What's the sales?

Reference no: EM13287548

Questions Cloud

What will the firm operating profit : If a firm has a break-even point of 40,000 units and the contribution margin on the firm's single product is $4.00 per unit and fixed costs are $60,000, what will the firm's operating profit be at sales of 40,000 units?

What is min source voltage that can produce electric shock : A person accidentally grabs conductors connected to each endof a dc voltage source, one in each hand.(a) Using the resistance values for human body provided inprevious problem, what is the minimum source voltage that canproduce electrical shock s..

How far did you drive : You are driving in one direction on a long straight road. You drive in the positive direction at 126 km/h for 30.0 minutes, How far did you drive

Explain the theory of the big bang : Which element formed, according to the theory of the Big bang, before the first generation of galaxies formed

What is the value of ending inventory : what is its gross profit? What is the value of ending inventory? What's the Old inventory units in quantity and cost, as well as the new inventory quantity and cost. What's the sales?

What will be the overall power dissipation of the flip-flops : A circuit contains two flip-flops connected to a voltage source of+10 Volts, each flip-flop draws a current of 10 mA during itsoperation, if we neglect the power dissipation of the remaining circuit, then what will be the overall power dissipation..

Determine the partial pressure of ch4 : A mixture of 9.0g CH4 and 9.0g Xe is placed in a container and the total pressure is found to be 0.40atm. Find the partial pressure of CH4

What is the probability of an electron state being occupied : (A)Under equilibrium conditions and T= 0 Kelvin ,what isthe probability of an electron state being occupied if it is located at the Fermi level (B) If Ef is positioned at Ec,determine(numerical answer required) the probability of findingelectrons in..

What coupon rate should the company set on its bonds : If a company would like to issue some semiannual coupon bonds at par. Comparable bonds have a current yield of 8.16 percent, an effective annual yield of 8.68 percent, and a yield to maturity of 8.50 percent. What coupon rate should the company se..

User Account

All Pages