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(solution) I need help computing the fire loss. What burned are 50 tons or


I need help computing the fire loss.  What burned are 50 tons or 167 rolls costing 25,950.  Additional information is on the excel sheet


VALLEY PUBLISHING COMPANY

 

#811 - Newsprint and Ink

 

12/31/20x2 DESCRIPTION TONS

 

Books Beginning Inventory DOLLARS

 

Adjusted Books 340 P 340 $164,480 P Purchases 1190 w 1172 x $637,595 w Available for sale 1530 1512 $802,075 Ending Inventory (358) C-1 (338) Inventory consumed and burned

 

QUANTITY CONSUMED:

 

FIRE LOSS: Total Consumed COMPUTED NEWSPRINT AND INK P

 

w Per prior years work papers

 

Traced to vouchers and total per voucher register ### C-1 x Voucher 1-01 20x3 Average pages per issue - 39 pages, test of morgue files.

 

39

 

Issues published this year - 313 (52 weeks x 6 issues per week + 1

 

313

 

ABC reported circulation - 13,340

 

13,340

 

Industry average for unpaid copies 7% of ABC circulation

 

Fire loss was primarily 34" white paper purchased on Voucher 8-22

 

Using a postal scale and allowing for the weight of ink and moistu

 

0.502

 

weighs an average of .5020 lbs.

 

Circulation department records indicate that subscription circula

 

9,605 voucher 8-167 rolls or 50 tons @ $25950 C-3 DOLLARS

 

Adjusted

 

$164,480

 

$627,371 x $791,851

 

$ (177,542)

 

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