March 15, 2015 at 10:30 am
in method 4, an amount based on productivity, when calculating the basic pay how do we get the 45?March 15, 2015 at 11:00 am
its a mistake in the notes .. it shd be 40March 15, 2015 at 11:58 am
thanx for a quick replyMarch 15, 2015 at 12:02 pm
very welcome. feel free to ask here or on my skype.
this is a great site which helped a lot.. so i try to do the same in returnJuly 9, 2015 at 10:14 pm
What is mean by fifo?July 10, 2015 at 11:28 am
First in, first out.
A way of valuing inventory. So, assuming no opening inventory:
1/1/2015 Buy 1000 units @ $4 each
15/1/2015 Buy 800 units @ $5 each
27/1/2015 sell 700 units.
There will be 1,100 units left. Under FIFO the 700 sold are assumed to be taken from the purchases made 1/1/2015. So the cost of closing inventory is:
(1,000 – 700) x 4 + 800 x 5 = 5,200September 25, 2015 at 12:06 am
after valuating the stock using fifo, lifo and avco, how can you account for the totalsSeptember 25, 2015 at 12:13 am
it depends what u want to do.
for the financial statements u can not use lifo.March 6, 2016 at 3:44 am
but why the 27/1/2015 sell 700 units no need deducted first??August 30, 2016 at 6:09 am
Basic pay = $9/hour for a 40 hour week.
Normal production in that time = 120 units
Bonus = 50% of the time saved on production paid at time and a third
What will be the total wage in a week in which 150 units are made in 40 hours?
A n s w e r
Basic pay = 40 x $9 450
150 units should take 50 hours
150 units did take 40 hours
Hours saved 10 hours
Bonus = 50% x 10 x 9 x 1 ?=60
Total pay 510
thats mistake over there right ?
basic pay should be 40×9 = 360
total pay will be 420
am i right ?August 30, 2016 at 6:13 am
in chapter 5 sub heading 3
Fixed costs: constant over a wide range of activity
there is line,
Note that the “””””cost per unit will decrease as the activity level decreases””””””. For example, say
that the rent was $10,000 and 1,000 units were made. Then you could argue that it takes
$10 rent to make a unit ($10,000/1,000).
thats mistake right ? it should be,
cost per unit will decrease as the activity level increases.
cost per unit will increase as the activity level decreasesAugust 30, 2016 at 5:15 pm
You are correct: cost per unit will decrease as activity levels increase. Apologies and well spotted.
Your point on pay is also correct.
We will correct these errors as soon as possible.September 19, 2016 at 6:10 am
How many decimal points do we need to take for every new cost per unit when counting cumulative weighted average pricingSeptember 19, 2016 at 8:54 am
I would normally use 2November 7, 2016 at 5:05 pm
have any one provides who ma1 short notes?November 8, 2016 at 6:22 am
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