SY Manufacturers (SYM) is producing T-shirts in three colors: red, blue, and white. The monthly demand for each color is 3,487 units. Each shirt requires 0.75 pound of raw cotton that is imported from the Luft-Geshfet-Textile (LGT) Company in Brazil. The purchasing price per pound is $1.55 (paid only when the cotton arrives at SYM's facilities) and transportation cost by sea is $0.70 per pound. The traveling time from LGT’s facility in Brazil to the SYM facility in the United States is two weeks. The cost of placing a cotton order, by SYM, is $186 and the annual interest rate that SYM is facing is 32 percent of total cost per pound. a. What is the optimal order quantity of cotton? (Round your answer to the nearest whole number.)
Optimal order quantity pounds
b. How frequently should the company order cotton? (Round your answer to 2 decimal places.)
Company orders once every months
c. Assuming that the first order is needed on 1-Jul, when should SYM place the order?
17-Jun
1-Jul
15-Jul
d. How many orders will SYM place during the next year? (Round your answer to 2 decimal places.)
Number of orders times
e. What is the resulting annual holding cost? (Round your answer to the nearest whole number.)
Annual holding cost $ per year
f. What is the resulting annual ordering cost?
Annual ordering cost $
g. If the annual interest cost is only 5 percent, how will it affect the annual number of orders, the optimal batch size, and the average inventory?

Answers

Answer 1
Answer:

Answer:

Kindly check explanation

Explanation:

Given the following :

Price per pound = $1.55

Raw material required = 0.75 pound

Transport cost by sea = $0.70

Monthly demand for each of the three colors = 3487

EOQ = √2DS / H

D = 3 * 12 * 3487 * 0. 75 = 94149

Total cost of purchase = 1.55 + 0.70 = 2.25

Setup cost (S) = $186

Holding cost = 32% * 2.25 = 0.72

EOQ = √(2*94149*186) / 0.72

= 6974.50

b. How frequently should the company order cotton?

Annual demand / EOQ

94149 / 6974.50

= 13.50 ;

12 months / 13.50 = 0.89 month

c. Assuming that the first order is needed on 1-Jul, when should SYM place the order?

Since lead time is 2 weeks, order should be made 2 weeks before : 17th June

d. How many orders will SYM place during the next year? (Round your answer to 2 decimal places.)

Annual demand / EOQ

94149 / 6974.50

= 13.50 times

e. What is the resulting annual holding cost? (Round your answer to the nearest whole number.)

Holding cost * EOQ /2

0.75 * (6974.50/2) = 2615.44

f. What is the resulting annual ordering cost?

Annual ordering cost $

Ordering cost * number of orders

$186 * 13.50 = $2,511


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Heller Corporation has aged its accounts receivable and estimated uncollectible accounts as follows (in thousands). Age of Receivables A/R Balance Estimated % uncollectible Current $11,000 1% 30-60 days past due 2,400 3% 61-90 days past due 1,700 6% Over 90 days past due 840 10% What bad debt expense should the company report for the current period

Answers

Answer:

$368

Explanation:

Bad debts also known as uncollectible expenses are the portion of the accounts receivable in accrual accounting  that have to be written off as they are eventually not paid by the accounts receivable.

One of the ways of estimating bad debt is allowance method , which is expressing a bad expenses as a percentage of credit sales based on experience and past records.

Days past due     balance   % uncollectible  

Current             11,000                1%                  110

30-60 days        2,400                3%                   72

61-90 days         1,700                 6%                  102

Over 90 days       840                10%                  84

Total                                                                     368

Bad debt expenses to be recognized is $368  

Final answer:

Heller Corporation should report a bad debt expense of $368,000 for the current period, calculated by adding the products of each A/R balance by its estimated percentage uncollectible.

Explanation:

The bad debt expense that Heller Corporation should report for the current period can be calculated by multiplying each A/R balance by the corresponding estimated percentage uncollectible, and summing these values. Here's a step-by-step process:

  • For the current: $11,000 * 1% = $110
  • For 30-60 days past due: $2,400 * 3% = $72
  • For 61-90 days past due: $1,700 * 6% = $102
  • For over 90 days past due: $840 * 10% = $84

Add these numbers together to get the total bad debt expense: $110 + $72 + $102 + $84 = $368 (in thousands, so $368,000).

Learn more about Bad Debt Expense here:

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Cemex, the largest cement producer in Mexico: a) is an insignificant competitor outside its home market. b) has only expanded into Spanish-speaking markets. c) generates about half of its income from outside Mexico. d) was eventually acquired by Holder Bank of Switzerland after Holder Bank entered the Mexican market.

Answers

Answer:

The correct answer is C. Cemex, the largest cement producer in Mexico, generates about half of its income from outside Mexico.

Explanation:

CEMEX is an international company for the construction industry, which offers products and services to clients and communities in more than 50 countries around the world. The Mexican company holds the third place in world sales of cement and is the main producer of ready-mix concrete, with a production capacity of approximately 77 million tons per year, serving the markets of America, Europe, Asia, Africa and the Middle East.  50% of the company's sales come from its operations in Mexico, 25% of its plants in the United States, 15% from Spain, and the rest from its plants in other parts of the world.

Tina is very skilled at knowing what gifts are acceptable to give coworkers and clients when she travels around the world representing Pepsi.

Answers

Cultural competence  

ddddddddddddddddddddddddddddddddddddddddddddddddddddddddd

Seasons Construction is constructing an office building under contract for Cannon Company and uses the percentage-of-completion method. The contract calls for progress billings and payments of $1,550,000 each quarter. The total contract price is $18,600,000 and Seasons estimates total costs of $17,750,000. Seasons estimates that the building will take 3 years to complete, and commences construction on January 2, 2018. 18). Seasons Construction completes the remaining 25% of the building construction on December 31, 2020, as scheduled. At that time the total costs of construction are $18,750,000.What is the total amount of Revenue from Long-Term Contracts and Construction Expenses that Seasons will recognize for the year ended December 31, 2020?


Revenue Expenses

(A) $18,600,000 $18,750,000

(B) $4,650,000 $ 4,687,500

(C) $4,650,000 $ 5,250,000

(D) $4,687,500 $ 4,687,500

Answers

Answer:

(C) $4,650,000 $ 5,250,000

Explanation:

total contract price is $ 18,600,000

season construction using percentage of completion method.

Amount of revenue & construction expense for the year ended december 31, 2020 will be

25% of $ 18,600,000 revenue = $ 4,650,000

25% of $ 18,750,000 total cost = $5,250,000

Aragon Company has just received the August 21, 2010 bank statement, which is summarized below. County National Bank Disbursements Receipts Balance

Balance, August 1 $9,369

Deposits during August $32,200 41,569

Note Collected for depositor, including $40 interest 1,040 42,609

Checks cleared during August $34,500 8,109

Bank Service Charges 20 8,089

Balance, August 31 8,089

The general ledger Cash account contained the following entries for the month of August.

Cash

Balance, August 1 10,050 Disbursements for August 35,403

Receipts during August 35,000

Deposits in transit at August 31 are $3,800, and checks outstanding at August 31 total $1,550. Cash on hand at August 31 is $310. The bookkeeper improperly entered one check in the books at $146.50 which was written for $164.50 for supplies (expense); it cleared the bank during the month of August.

Instrustions:

a. Preare a bank reconciliation dated August 31, 2010, proceeding to a correct balance.

b. Prepare any entries necessary to make the books correct and complete.

c. What amount of chas should be reported in the August 31 balance sheet?

Answers

a. The preparation of the bank reconciliation is shown below.

b. The entries are given below.

c. The amount of cash should be $10,649.

Preparation, journal entries:

a. The preparation of the bank reconciliation is presented below.

Bank balance as per bank statement $8,089

Add: cash on hand $310

Add: deposit in transit $3.800

Less: outstanding checks $1,550

Adjusted balance $10,649

Balance as per cash book ($10,050 + $35,000 - $35,403) $9,647

Less: correction ($164.5 - $146.5) $18

Less: bank service charge $20

Add: note collected $1,040

Adjusted balance $10,649

b. The journal entries:

Cash $1,040

  Note receivable $1000

 Interest receivable $40

(Being collection od note & interest)

Bank charges $20

      cash $20

(being bank charges are recorded)

Supplies expense $18

         cash $18

(Being error in recording check)

c. The amount of cash should be $10,649.

Learn more about journal entry here: brainly.com/question/24345471

Answer:

Complete solution in tabular form is given below for better understanding and demonstration.

Please answer quick

Answers

pay the full balance when you receieve your monthly statement