Solution-What was the value of ending inventory

What was the value of ending inventory

Assignment Help Cost Accounting

Reference no: EM13850434

Jerrico Wallboard Co. had a beginning inventory of 7,000 units on January 1, 2004. The costs associated with the inventory were: Material $9.00 unit Labor 5.00 unit Overhead 4.10 unit During 2004, Jerrico produced 28,500 units with the following costs: Material $11.50 unit Labor 4.80 unit Overhead 6.20 unit Sales for the year were 31,500 units at $29.60 each. Jerrico uses LIFO accounting. What was the gross profit? What was the value of ending inventory?

Reference no: EM13850434

Questions Cloud

Problem regarding the internal rate of return : Answer the following questions and problems from Chapter 7, page 328 of the text, 2, 3, 6, 8, 9. List and describe the three decision rules when using the Internal Rate of Return.

Organisational behaviour on the pacific rim : This assessment requires you to research the management literature in order to develop solutions to the case study"The Poisoned Chalice."The case study can be foundin your set text McShane et al. 2013,Organisational behaviour on the Pacific Rim, 4..

The expected return less the required return : Firm H's shares sell today for $54 and are forecast to be priced at $55.08 and to pay a dividend of $1.20 at the end of one year. Firm H's beta is 0.60, the market risk premium is 6%, and the riskless return is 4%. The expected return less the requir..

Compensation plan does indeed affect behavior : You may deal with employees who work for various business and companies from time to time. Do you feel that an employee’s compensation plan affects how he or she behaves to one another and to his or her customers? Why or why not? If the compensation ..

What was the value of ending inventory : Material $11.50 unit Labor 4.80 unit Overhead 6.20 unit Sales for the year were 31,500 units at $29.60 each. Jerrico uses LIFO accounting. What was the gross profit? What was the value of ending inventory?

Financing international trade : The topic addressed in this module is financing international trade. One factor to consider here is the working capital guarantee program. That is, how is this program administered by outside agencies?

Determine amount of each payment required for sinking fund : Determine the amount of each payment required for a sinking fund in order that enough money will be available to pay off the $25,000 loan, money earns 3% compounded annually, 10 annual payments.

What is estimated value of firm after new debt issue : Firm R currently has $1,000,000 of debt outstanding with a before tax annual coupon of 5%, a constant EBIT of $2,100,000 and 500,000 shares outstanding at a market price of $20.00. What is the estimated value of the firm after the new debt issue? Wha..

Case study-break even analysis : Case Study 1 - Break Even Analysis Scenario: The BeDazzled Boutique is a tourist stop in downtown Belleville, MI.

User Account

All Pages

What was the value of ending inventory

Reference no: EM13850434

Reference no: EM13850434

Questions Cloud

Reviews

Write a Review

Cost Accounting Questions & Answers

Cost accounting assignment

Prepare the journal entries

Advise as to the liability of all the parties

Prepare revenues budget

Effect of exchange rate changes on cash and cash

Corporate governance

Cost-benefit analysis

Non-annual interest rates and annuities

Job costing in service organizations

Accounting for bad debt expense

Accounting and partnership problems

Development of relevant cash flows

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT