1. Beginning inventory, purchases, and sales data for portable game players are as follows:

   Apr. 1		Inventory	180 units at $40
   10		Sale	140 units
   15		Purchase	210 units at $42
   20		Sale	170 units
   24		Sale	60 units
   30		Purchase	240 units at $46

   The business maintains a perpetual inventory system, costing by the first-in, first-out method.

   a. Determine the cost of the merchandise sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 3. Under FIFO, if units are in inventory at two different costs, enter the units with the LOWER unit cost first in the Cost of Merchandise Sold Unit Cost column and in the Inventory Unit Cost column.

   Perpetual Inventory Account First-in, First-out Method Portable Game Players
   Date	Quantity Purchased	Purchases Unit Cost	Purchases Total Cost	Quantity Cost of Merchandise Sold	Cost of Merchandise Sold Unit Cost	Cost of Merchandise Sold Total Cost	Inventory Quantity	Inventory Unit Cost	Inventory Total Cost
   Apr. 1
   Apr. 10
   Apr. 15
   Apr. 20
   Apr. 24
   Apr. 30
   Apr. 30	Balances

   b. Based upon the preceding data, would you expect the ending inventory to be higher or lower using the last-in, first-out method?

Perpetual Inventory Using FIFO

Beginning inventory, purchases, and sales data for DVD players are as follows:

The business maintains a perpetual inventory system, costing by the first-in, first-out method.

a. Determine the cost of the goods sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 3. Under FIFO, if units are in inventory at two different costs, enter the units with the LOWER unit cost first in the Cost of Goods Sold Unit Cost column and in the Inventory Unit Cost column.

b. Based upon the preceding data, would you expect the inventory to be higher or lower using the last-in, first-out method?

Perpetual Inventory Using FIFO

Beginning inventory, purchases, and sales data for DVD players are as follows:

The business maintains a perpetual inventory system, costing by the first-in, first-out method.

a. Determine the cost of the goods sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 3. Under FIFO, if units are in inventory at two different costs, enter the units with the LOWER unit cost first in the Cost of Goods Sold Unit Cost column and in the Inventory Unit Cost column.

b. Based upon the preceding data, would you expect the inventory to be higher or lower using the last-in, first-out method?

The following data concerns inventory and purchases at Muse Company. Inventory, January 1 92 units at $105 Purchases: January 6 62 units at $104 January 15 47 units at $104 January 22 37 units at $98 Inventory, January 31 91 units Determine the cost of the ending inventory on January 31 under the average cost method. Determine the cost of the ending inventory on January 31 under the first in, first out (FIFO) method. Determine the cost of the ending inventory on January 31 under the last in, first out (LIFO) method. Analyze: Which inventory valuation method resulted in the highest dollar amount for ending inventory?

Complete this question by entering your answers in the tabs below.

• Average Cost
• FIFO
• LIFO
• Analyze

Determine the cost of the ending inventory on January 31 under the average cost method. (Round your "average cost per unit" answer to 2 decimal places.)

• Average Cost
• FIFO

Dehner Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours. The company based its predetermined overhead rate for the current year on the following data:

Recently, Job P951 was completed with the following characteristics:

The total job cost for Job P951 is closest to: (Round your intermediate calculations to 2 decimal places.)

Garrison 16e Rechecks 2017-06-22, 2017-08-01

Multiple Choice

• $8,890

• $8,510

• $1,800

• $9,600

2. The production function is given as Q=LK1/2 with K fixed at 4 units. Note K1/2 is same as the square root of K.

a. Draw the total, average and marginal product associated with this function.

b. Write down the equations for total cost, total fixed and total variable cost when w=2 and r=3, and draw the respective diagrams.

c. Write down the equations for AFC, AVC, MC and ATC corresponding to the values of w and r as in part b, and draw the respective diagrams.

d. Using duality, answer to part a, and words, explain the shapes of AVC and MC drawn in part c.

e. If r = 4, which of the cost curves (TC, TFC, TVC, AFC, AVC, AC and MC) will change and why? (4 points)

FIN 3113 Food Truck Project Cash Flow Mini Case

Recently, Austin Hansen was laid off from his job of 25 years. He and his wife, Anne, decided

to purchase and operate a food truck, serving burgers, fries, and soft drinks near OSU campus.

They decided the call their food truck, Hungry Hansen Hamburgers!

The Hansens were able to find a truck that costs $60,000. However, the truck will require an

additional $20,000 for the wrap and equipment. The truck has an expected life of six years and

will be depreciated using a five-year MACRS life. The expected salvage value for the truck at

the end of its useful life is $20,000. Additionally, the Hansens will need to make an initial

investment of $2,000 for product inventory (e.g., meat, hamburger buns, etc.), which will be

recovered at the end of the life of the project.

During the first year of operation, revenues are expected to be $60,000, increasing to $120,000

per year for years 2-6. Permits and licenses are expected to be $500 per year. Fuel and power

are expected to be $300 per month and the cost of materials is expected to be 40% of revenue.

The tax rate is 25% and the cost of capital (discount rate) is 15%.

Calculate the project’s annual free cash flows over the expected life of the equipment.

The Cutting Department of Tangu Carpet Company provides the following data for December 2016. Assume that all materials are added at the beginning of the process.

a. Prepare a cost of production report for the Cutting Department. If an amount is zero or a blank, enter in "0". For the cost per equivalent unitcomputations, round your answers to two decimal places.

b. Compute and evaluate the change in cost per equivalent unit for direct materials and conversion from the previous month (November). If required, round your answers to two decimal places.

The Cutting Department of Karachi Carpet Company provides the following data for January. Assume that all materials are added at the beginning of the process.

a. Prepare a cost of production report for the Cutting Department. If an amount is zero or a blank, enter in "0". For the cost per equivalent unit computations, round your answers to two decimal places.

b. Compute and evaluate the change in cost per equivalent unit for direct materials and conversion from the previous month (December). If required, round your answers to two decimal places.

Cost of Production Report

The Cutting Department of Tangu Carpet Company provides the following data for December 2016. Assume that all materials are added at the beginning of the process.

a. Prepare a cost of production report for the Cutting Department. If an amount is zero or a blank, enter in "0". For the cost per equivalent unit computations, round your answers to two decimal places.

b. Compute and evaluate the change in cost per equivalent unit for direct materials and conversion from the previous month (November). If required, round your answers to two decimal places.