Lifo liquidationduring july, laesch company, which uses a perpetual inventory system, sold 1,240 units from its lifo-based inventory. which had originally cost 518 per unit. the replacement cost is expected to be $27 per unit. respond to the following two independent scenarios as requested. a. case 1: in july, the company is planning to reduce its inventory and expects to replace only 900 of these units bydecember 31, the end of its fiscal year.(1) prepare the entry in july to record the sale of the 1,240 units.(2] discuss the proper financial statement presentation of the valuation account related to the 1,240 units sold.(3) prepare the entry for the replacement of the 900 units in september at an actual cost of $31 per unit. b. case2~ in july, the company is planning to reduce its inventory and expects to replace only300 of its units by december 31, the end of its fiscal year.(1) prepare the entry in july to record the sale of the 1,240 units.(2] in december, the company decided not to replace any of the 1,240 units. prepare the entry required on december 31 toeliminate any valuation accounts related to the inventory that will not be replaced.

Salty sensations snacks company manufactures three types of snack foods: tortilla chips, potato chips, and pretzels. the company has budgeted the following costs for the upcoming period: 1 factory depreciation $33,782.00 2 indirect labor 84,456.00 3 factory electricity 8,446.00 4 indirect materials 40,356.00 5 selling expenses 26,900.00 6 administrative expenses 17,200.00 7 total costs $211,140.00 factory overhead is allocated to the three products on the basis of processing hours. the products had the following production budget and processing hours per case: budgeted volume (cases) processing hours per case tortilla chips 3,600 0.25 potato chips 5,300 0.11 pretzels 2,300 0.49 total 11,200 required: a. determine the single plantwide factory overhead rate.* b. use the factory overhead rate in (a) to determine the amount of total and per-case factory overhead allocated to each of the three products under generally accepted accounting principles. refer to the amount descriptions list provided for the exact wording of the answer choices for text entries.* * if required, round your answers to the nearest cen

In each of the cases below, assume division x has a product that can be sold either to outside customers or to division y of the same company for use in its production process. the managers of the divisions are evaluated based on their divisional profits. case a b division x: capacity in units 200,000 200,000 number of units being sold to outside customers 200,000 160,000 selling price per unit to outside customers $ 90 $ 75 variable costs per unit $ 70 $ 60 fixed costs per unit (based on capacity) $ 13 $ 8 division y: number of units needed for production 40,000 40,000 purchase price per unit now being paid to an outside supplier $ 86 $ 74 required: 1. refer to the data in case a above. assume in this case that $3 per unit in variable selling costs can be avoided on intracompany sales. a. what is the lowest acceptable transfer price from the perspective of the selling division? b. what is the highest acceptable transfer price from the perspective of the buying division? c. what is the range of acceptable transfer prices (if any) between the two divisions? if the managers are free to negotiate and make decisions on their own, will a transfer probably take place?

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