! Required information [The following information applies to the questions displayed below.] Kinnear Plastics manufactures various...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
! Required information [The following information applies to the questions displayed below.] Kinnear Plastics manufactures various components for the aircraft and marine industry. Kinnear buys plastic from two vendors: Tappan Corporation and Hill Enterprises. Kinnear chooses the vendor based on price. Once the plastic is received, it is inspected to ensure that it is suitable for production. Plastic that is deemed unsuitable is disposed of. The controller at Kinnear collected the following information on purchases for the past year: Total purchases (tons) Plastic discarded Tappan Hill 6,500 10,500 162 525 The purchasing manager has just received bids on an order for 300 tons of plastic from both Tappan and Hill. Tappan bid $1,560 and Hill bid $1,539 per ton. Required: 1-a. Assume that the average quality, measured by the amounts discarded from the two companies, will continue as in the past. What is the effective cost per ton for both Tappan and Hill? (Do not round intermediate calculations.) Tappan Hill Effective cost per ton ! Required information [The following information applies to the questions displayed below.] Kinnear Plastics manufactures various components for the aircraft and marine industry. Kinnear buys plastic from two vendors: Tappan Corporation and Hill Enterprises. Kinnear chooses the vendor based on price. Once the plastic is received, it is inspected to ensure that it is suitable for production. Plastic that is deemed unsuitable is disposed of. The controller at Kinnear collected the following information on purchases for the past year: Total purchases (tons) Plastic discarded Tappan Hill 6,500 10,500 162 525 The purchasing manager has just received bids on an order for 300 tons of plastic from both Tappan and Hill. Tappan bid $1,560 and Hill bid $1,539 per ton. Required: 1-a. Assume that the average quality, measured by the amounts discarded from the two companies, will continue as in the past. What is the effective cost per ton for both Tappan and Hill? (Do not round intermediate calculations.) Tappan Hill Effective cost per ton
Expert Answer:
Answer rating: 100% (QA)
Answer To calculate the effective cost per ton for both Tappan and Hill we need to consi... View the full answer
Posted Date:
Students also viewed these accounting questions
-
Examination of non-financial information falls under _______ services and outside of_______ services
-
Kinnear Plastics manufactures various components for the aircraft and marine industry. Kinnear buys plastic from two vendors: Tappan Corporation and Hill Enterprises. Kinnear chooses the vendor based...
-
Kinnear Plastics manufactures various components for the aircraft and marine industry. Kinnear buys plastic from two vendors: TappanCorporation and Hill Enterprises. Kinnear chooses the vendor based...
-
What are the Marketing Cost Estimates of Pepsi Company? Marketing estimates, in 2013-2019? It can be write in a paragraph and explain it statistically.
-
Explain why each of the following is false: a. A freeze in Brazil's coffee-growing region will lower the price of coffee. b. "Protecting" American textile manufacturers from Chinese clothing imports...
-
Propose syntheses of each of the following acetals from carbonyl compounds and alcohols.
-
Why is activity-based costing growing in popularity?
-
Oslo Company prepared the following contribution format income statement based on a sales volume of 1,000 units (the relevant range of production is 500 units to 1,500 units): Sales...
-
A room contains 26 people who would respond differently to a yes/no question, if asked. Room: 26 total people 14 people would say, "Yes." 12 people would say, "No." You randomly sample 8 people from...
-
One example of a firm studying it's _____ is an annual assessment of its labor supply. organizational culture internal environment external environment organizational mission
-
Find the value of the sample size needed to if the confidence interval is 90% that the sample proportion and the population proportion are within 4% of each other. The sample proportion is 0.60....
-
Find the value of the sample size needed to if the confidence interval is 94% that the sample proportion and the population proportion are within 2% of each other. The sample proportion is 0.65....
-
What is the z-score of x = 7, if it is 0.133 standard deviations to the left of the mean?
-
Suppose X ~ N(4, 2). What value of x is two standard deviations to the right of the mean?
-
Suppose X ~ N(2, 3). What value of x has a z-score of 0.67?
-
If income thresholds used in the taxable income brackets were not adjusted upwards each year to allow for the effects of inflation, taxpayers would pay higher taxes simply because of inflation due to...
-
Portal Manufacturing has total fixed costs of $520,000. A unit of product sells for $15 and variable costs per unit are $11. a). Prepare a contribution margin income statement showing predicted net...
-
Fullerton Bank quotes an ask rate of $.190 for the Peruvian currency (new sol) and a bid rate of $.188. Determine the bid/ask percentage spread.
-
What is the value of a put option if the underlying stock price is $60, the strike price is $65, the underlying stock volatility is 25 percent, and the risk-free rate is 5 percent? Assume the option...
-
Stetson Bank quotes a bid rate of $.784 for the Australian dollar and an ask rate of $.80. What is the bid/ask percentage spread?
Study smarter with the SolutionInn App