Mower-blower sales co. started business on january 20, 2019. products sold were snow blowers and lawn mowers. each product sold for $350. purchases during 2019 were as follows: blowers mowers january 21 17 @ $ 201 february 3 48 @ 190 february 28 34 @ 188 march 13 16 @ 193 april 6 18 @ $ 214 may 22 45 @ 218 june 3 35 @ 218 june 20 70 @ 225 august 15 19 @ 218 september 20 18 @ 214 november 7 22 @ 201 the december 31, 2019, inventory included 11 blowers and 25 mowers. assume the company uses a periodic inventory system. required: a-1. compute ending inventory valuation at december 31, 2019, under the fifo and lifo cost flow assumptions

Price and efficiency variances, journal entries. the schuyler corporation manufactures lamps. it has set up the following standards per finished unit for direct materials and direct manufacturing labor: direct materials: 10 lb. at $4.50 per lb. $45.00 direct manufacturing labor: 0.5 hour at $30 per hour 15.00 the number of finished units budgeted for january 2017 was 10,000; 9,850 units were actually produced. actual results in january 2017 were as follows: direct materials: 98,055 lb. used direct manufacturing labor: 4,900 hours $154,350 assume that there was no beginning inventory of either direct materials or finished units. during the month, materials purchased amounted to 100,000 lb., at a total cost of $465,000. input price variances are isolated upon purchase. input-efficiency variances are isolated at the time of usage. 1. compute the january 2017 price and efficiency variances of direct materials and direct manufacturing labor. 2. prepare journal entries to record the variances in requirement 1. 3. comment on the january 2017 price and efficiency variances of schuyler corporation. 4. why might schuyler calculate direct materials price variances and direct materials efficiency variances with reference to different points in time