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what is eoq? WHAT IS ITS FORMULA
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Answer / h.r. sreepada bhagi
Economic Order Quantity (EOQ) is an inventory management
model. It's the optimal qty. of orders for stock that
minimises total of ordering and holding cost of inventory.
Formula - √2CR/H,
C = Order Cost, R = Annual usage in units, H = Annual
inventory holding cost per unit.
For more information, refer any Cost Accounting Book.
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It is the optimum quantity of goods for which if orders are
placed, the aggregate order placing cost and the aggregate
inventory carrying cost.
The quantity per order (in units) that minimizes the total
costs of processing orders and holding inventory.
An inventory-related equation that determines the optimum
order quantity that a company should hold in its inventory
given a set cost of production, demand rate and other
variables. This is done to minimize variable inventory
costs. The full equation is as follows:
Where:
S = Setup costs
D = Demand rate
P = Production cost
I = Interest rate (considered an opportunity cost, so the
risk-free rate can be used)
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please answer this question.the following balances were extracted from the books of modern traders on 31st dec,2010.capital(85000)fixed assets(45000)stock1-1-2010(15000)sundry debtors(20600)productive exp(3300)reserves fund(6600)discount received(800)cash in hand(6200)drawing(5000)accomulated dep.(9000)purchases(82000)bad debts(400)unproductive exp.(27400)sundry creditors(9000)sales(120000)cash at bank(25500).adjustments.stock on 31-12-2010(15000).outstanding wages (5000) write-off (600)of further bad debts. create provision for bad & doubtful debts at {5%) on debtors.unproductive expenses includes anitem of prepaid insurance (100).provide depreciation on original cost of fixed assets @ (10%).
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DEAR ALL, HOW TO ACCOUNT THE SALARY ADVANCE A/c. I HAVE TAKEN AN ADVANCE OF Rs.25000/-. I HAVE DEBITED SALARIES ADVANCE A/c AND CREDITED THE PETTY CASH A/c in TALLY. I dont't know whether it is correct or not. If correct, in my individual ledger no entry is reflected. Alternatively, if I debit my self and credit petty cash a/c it is reflected in the P & L Account, but it is not an expense. and not reflected in the balance sheet, but reflected in P & L. I think I need to put a journal entry. Like debiting the salary account and crediting the salary advance account. Is this correct or not? Can any one help me please. my mail add: cdvijay100@yahoo.co.in or kmlnkml@live.com
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