Martinez Inc. is trying to determine whether to use the FIFO or average cost formula. The accounting records show the following selected inventory information:

The company accountant has prepared the following partial statement of income to help management understand the financial statement impact of each cost determination cost formula.

Python

#Note: use print() to add spaces between items and when needed in the receipt
#(e.g. between user entries and between the entries and the receipt)

#1 Ask the user for a number using the prompt: NUMBER?
# Convert the user entered number to an integer
# Calculate the square of the number and display the result on screen with the following text before it: Your number squared is

#2 Ask the user for a first number using the prompt: first number?
# Ask the user for a second number using the prompt: second number?
# Convert the two numbers to integers
# Multiply the first number by the second number and display the result on screen with the following text before it: Result:
"""
#3 Develop a simple food receipt
a. Ask the user for inputs about two food items using the following prompts in turn. Do not forget to assign each user
entry to a unique variable name:
Item1 name?
Item1 price?
Item1 quantity?
  
Item2 name?
Item2 price?
Item2 quantity?
  
b. Convert the price and quantity variables to integers
c. Calculate the total cost for the order by calculating each item's total price by
multiplying price and quantity for each item and then adding up the total prices for the two items
d. Display the results using the format:
RECEIPT
You ordered: [item1 name] and [item2 name]
Total cost: $ [total price for both items calculated in 3c above]

"""
#Start your code below

"""
Enhance your simple food receipt
a. Ask the user for inputs about two food items using the following prompts in turn. Do not forget to assign each user
entry to a unique variable name:
First item name?
First item price?
First item quantity?
  
Second item name?
Second item price?
Second item quantity?
  
Third item name?
Third item price?
Third item quantity?
  
b. Convert the price and quantity variables to integers
c. Calculate the total cost for the order by calculating each item's total price by
multiplying price and quantity for each item and then adding up the total prices for the three items
d. Calculate the total cost plus tax for the order by multiplying the total cose calculated in c by the tax rate of .09
then adding the tax to the total cost
e. Display the results using the format:
RECEIPT
You ordered: [First item name] [Second item name] [third item name]
Total cost: $ [total price for all items calculated in 3c above]
Total cost plus tax: $ {total cost plus tax calculated in 3d above}

"""
#Start your code below

Python

#Note: use print() to add spaces between items and when needed in the receipt
#(e.g. between user entries and between the entries and the receipt)

#1 Ask the user for a number using the prompt: NUMBER?
# Convert the user entered number to an integer
# Calculate the square of the number and display the result on screen with the following text before it: Your number squared is

#2 Ask the user for a first number using the prompt: first number?
# Ask the user for a second number using the prompt: second number?
# Convert the two numbers to integers
# Multiply the first number by the second number and display the result on screen with the following text before it: Result:
"""
#3 Develop a simple food receipt
a. Ask the user for inputs about two food items using the following prompts in turn. Do not forget to assign each user
entry to a unique variable name:
Item1 name?
Item1 price?
Item1 quantity?
  
Item2 name?
Item2 price?
Item2 quantity?
  
b. Convert the price and quantity variables to integers
c. Calculate the total cost for the order by calculating each item's total price by
multiplying price and quantity for each item and then adding up the total prices for the two items
d. Display the results using the format:
RECEIPT
You ordered: [item1 name] and [item2 name]
Total cost: $ [total price for both items calculated in 3c above]

"""
#Start your code below

Enhance your simple food receipt
a. Ask the user for inputs about two food items using the following prompts in turn. Do not forget to assign each user
entry to a unique variable name:
First item name?
First item price?
First item quantity?
  
Second item name?
Second item price?
Second item quantity?
  
Third item name?
Third item price?
Third item quantity?
  
b. Convert the price and quantity variables to integers
c. Calculate the total cost for the order by calculating each item's total price by
multiplying price and quantity for each item and then adding up the total prices for the three items
d. Calculate the total cost plus tax for the order by multiplying the total cose calculated in c by the tax rate of .09
then adding the tax to the total cost
e. Display the results using the format:
RECEIPT
You ordered: [First item name] [Second item name] [third item name]
Total cost: $ [total price for all items calculated in 3c above]
Total cost plus tax: $ {total cost plus tax calculated in 3d above}

"""
#Start your code below

A manufacturing firm is planning to open a new factory. There are four countries under consideration: USA, Canada, Mexico, and Panama. The table below lists the fixed costs and variable costs for each site. The product is mainly sold in the U.S. for $995 per unit.

Location                          Fixed Cost      Variable cost

USA                  $500,000        $210

Mexico            $150,000        $250

Canada              $300,000        $230

Panama             $ 50,000         $300

a- Using cross-over analysis, find the range of production that makes each country optimal with lowest total cost.

b- Using Excel, construct total production cost linear graph for all 4 locations and verify cross-over points obtained in part (a). In your graph, use quantity values from 0 to 11,000 at increment of 200.

c- If the company forecasts that market demand will be around 9000 per year, which country

     is the best choice and what is the yearly profit?

d- Construct Total cost, Total revenue, and Total profit graphs for the optimal location.

1. A manufacturing firm is planning to open a new factory. There are four countries under consideration: USA, Canada, Mexico, and Panama. The table below lists the fixed costs and variable costs for each site. The product is mainly sold in the U.S. for $950 per unit.

Location Fixed Cost Variable cost

USA $500,000 $210

Mexico $150,000 $250

Canada $300,000 $230

Panama $ 50,000 $300

a- Using cross-over analysis, find the range of production that makes each country optimal with lowest total cost.

b- Using Excel, construct total production cost linear graph for all 4 locations and verify cross-over points obtained in part (a). In your graph, use quantity values from 0 to 11,000 at increment of 200.

c- If the company forecasts that market demand will be around 8000 per year, which country is the best choice and what is the yearly profit?

d- Construct Total cost, Total revenue, and Total profit graphs for the optimal location.

Direct Labor Time Variance

Maywood City Police uses variance analysis to monitor police staffing. The following table identifies three common police activities, the standard time to perform each activity, and their actual frequency to establish the expected cost to serve these activities.

The police are paid $25 per hour.

The actual amount of hours per activity for the year were as follows:

a. Determine the total budgeted cost to perform the three police activities.
Total budgeted cost $

b. Determine the total actual cost to perform the three police activities.
Total actual cost $

c. Determine the direct labor time variance.
$

The following information is available for frozen bread producers. Costs are all in AED.

What is total cost when quantity is 10,000?

What is average variable cost when quantity is 30,000

What is average fixed cost when quantity is 10,000?

Explain the relationship between quantity and average fixed cost.

What is the marginal cost when quantity is 20,000 units?

If frozen bakery producers sells frozen bread to UAE dealers for AED70 per unit, what is total profit when quantity is 20,000 units?

Inventory Costing Methods-Periodic Method Archer Company is a retailer that uses the periodic inventory system. August 1 Beginning inventory 190 units of Product A @ $1,600 total cost 5 Purchased 210 units of Product A @ $2,116 total cost 8 Purchased 310 units of Product A @ $4,416 total cost 11 Sold 260 units of Product A Calculate the August cost of goods sold and the ending inventory at August 31 using (a) first-in, first-out, (b) last-in, first-out, and (c) the weighted-average cost methods. Do not round until your final answers. Round your final answers to the nearest dollar.

Question 2

Alifulhubey company produced a single product called Killi and he provide you following 3 months cost data of the current year 2018.

It is assumed that Alifulhubey company variable cost per unit is constant up to a production level of 2,000 units per month but a step up of MVR 6,000 in the monthly total fixed cost occurs when production reaches 1,100 units per month.

Calculate the total cost for a month of Alifulhubey company when 1,000 units are produced?

Cost of Quality and Value-Added/Non-Value-Added Reports for a Service Company

Three Rivers Inc. provides cable TV and Internet service to the local community. The activities and activity costs of Three Rivers are identified as follows:

a. Identify the cost of quality classification for each activity and whether the activity is value-added or non-value-added.

b. Prepare a cost of quality report. Assume that sales are $2,850,000. If required, round percentages to one decimal place.

c. Prepare a value-added/non-value-added analysis.

d. What percentage of total costs of quality are considered to be value-added?

• 54.0%
• 14.0%
• 68.0%
• None of these options are correct.