Richardson Stationary Supplies is planning on a major expansion. In order for this expansion to proceed smoothly they are reevaluating their operation policies. One area that is of concern is the inventory policies. They gathered the following pieces of data for 2015. Sales $ 620,000 Beginning Inventory $ 101,500 Ending Inventory $ 98,700 Cost of Goods Sold $ 498,000 1. What was Richardson’s average inventory for 2015? A. $98,700 B. $100,100 C. $101,500 D. $200,200

Evelyn would like to open a small business that is categorized as a being in the distribution industry. to do this she could open a establishment.

Employees of dti, inc. worked 1,600 direct labor hours in january and 1,000 direct labor hours in february. dti expects to use 18,000 direct labor hours during the year, and expects to incur $22,500 of worker’s compensation insurance cost for the year. the cash payment for this cost will be paid in april. how much insurance premium should be allocated to products made in january and february?

Wallis company manufactures only one product and uses a standard cost system. the company uses a predetermined plantwide overhead rate that relies on direct labor-hours as the allocation base. all of the company's manufacturing overhead costs are fixed—it does not incur any variable manufacturing overhead costs. the predetermined overhead rate is based on a cost formula that estimated $2,886,000 of fixed manufacturing overhead for an estimated allocation base of 288,600 direct labor-hours. wallis does not maintain any beginning or ending work in process inventory.