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USKj HT ui: AUDIT If THE SLAG TKS1TIH0 flAKT HUitt'H CP FEBHUAMf 19S2
Hr. W. C. "01
| RECEIVED ' i 19S2
w. K. DALY
itoTi
IB. X. Rowan i,
Tiha hS^'UlHEJJ FOR AUDIT 1larch leth to ;6ul,
incinaive
C. hew'..:., i.eii llujv Jc.i Au.ii'.or )arci< 2i, 395-i
ANACOhbA COHLit
CPU Ahf
Si a g t i\zknv.a h .a i:t
ViOWili If FEdnUAUY - ! >?
Seal* tickets, daily reports, essay* e.;d bills of 3adi;; war* endjten at- A... .1 ihd.ia
>ij*ts and shipments into reports to Great Falls. At Great Falla, contracts ami 3Ct.;..U.*.;ts -..*,4
| reports from East Helena as well aa Great Falla asss/s ami -wei;.:U.., un apflicu-.l*
si,i; to,its.
Llurjicel Statements were checked nsin.; the Et3t Helena ami Groat F-Yi ii ue*.
No inventory observation was considered itoceesar. as tie lar, e jt ,iacn or J*. j . ,.n iv-iu .'l
mmtion. The computation of the February ?9, I9f>2 inventory was ci,ed..:.i in tU.-ail .. .1 1,
a., 1
The last-in, first-out valuation of the emirs fume iuvci.koiy
also xevi_ ,...
c!.o; so.
Index of the report is as follows;
SYNOPSIS OF THE PUNT RECEIPTS ' SHIPMENTS INVjQnOHIES INVENTORY VALUATlUi EHhOHS AwO DISCiuiPAhClcS GdJHUL HEMA1ES
PNYC 00011862
F RKEIPTS - Continued Hot 31a-* - Continued
s l a g ana-flirt? hi.A;.r - i
Seller shell deliver to the buyer at r; > c -v to x weigh ell Material.
Cold Slag
Tonnage Up to 250 tons per d^. bu/or i k -1.v f>* renove sis*; for its own ua_.
Price - Base price of 7i per ton. 2inc Assay - Add or subtract 20y Pr to.. f-r ^uch j J ..
Zinc Price - Deduct 9/32 of 1$ for euci, i t u.vi.r l; j . over 6* up to end indnd m.w y.\* p;r
Add 13/32 of 1* for euch ' , iv.;v ell price changes.
Labor Cost - Add or deduct If per to.. i- eccordin/'ly.
n Coal Cost - Add or subtract 1.5* pwr ur. v-
J...
accordingly.
Kinltmw Price - #2.00 per ton if sine us-ny j . . - Hoi
K
Treatment - Only treated slag to bu
jr,..
Produced SI a* - Slag from Buyers furna-v to )- 1 :l oproperty. All other pruu...;t. _ 1 .
Wei ?>dn - All weighing to be done iy i-u, r or, l .u -*;-. >
imraiK
nr
Hot file.' 8*.ipJ.d by ;t. Cold Slag Sui)i; lcti 1,. Both Slays esii;.yed . /
be used on .ii>- tu.J '
Miscellaneous - The usual conditions and r.)*---.
NTS
The bill of lading date is now being use j s s i-hu
o` <-
isrion as occurred at the tDue of the previous auwit J.i lV..r..&.y ly*
* line Plant at Groat Palls, the American Ci*.*.-. 1 r,a. -ratton at r,, 1.
i Befitting Company at East Helena.
The Zinc Plant shi}>sud>l3 were ;..u }v
ty-
The American Chalet Corporation stiles arc ot.il i , n u.icj ... ,
k-indefinitely extended. Thu WnuS of this a;.reu~-.it
i.
taking order weights and Great Falls ar..i
a--.-.'.s u. . u:-c.J .... i.x.
I ty the American Cheuet Coloration for the 51a Jibuti. plant v;i:.ou
One truckload of fume for paint wes sold l t:.c A . rio..; 5.....ii. HPt Hu 52-207. TJ)e sales price per pound 01 fm.e w-s t..o c u /j u .i L--
t|;lSst 2* per pound and was verified by hr. F. S. woluer, 'i.ic*i.l "ft ticket wae available to check the weight. Tne asjAy originated j ,, i
I
j
PNYC 00011863
|lMTBiTOHIES
SLAP TREATING PLANT - EA3T H<o.A. hUUCLik
ETM? t* ..mjflial
As before, the funs inventory is computed ty the Aeoistant Supe.int undent &..il repr.rtbd to Great [Fills in the monthly report. The sine in fuse produced is computed daily usiny thw latest available wei.-jita and assays of alas received and treated, the computed weights of slaj produced (ty air.c aid la&d L3t>;.y x'o iv .l I a). ! and no loaa of either metal. This aaauaea the balance of treatment leas axaj produced to be 10o/ volatilized into fume. All lead traated la recovered in fume and IOC# of the sine treated leas tr.at coc.puted to be in tm> K alag produced la recovered in fume. A loaa in either metal is recognized *nly when the computed inventory looks ^ unreasonable from pact clean-up a^ariance. The last clean-up of tl*e flues and bp*-, house was made in October J1951 and Kr.Thompsonstated that the fume weighed out proved the book fig ora to hn reusonahle.
, AtFebruary 29, 1952, there were 50 tons of low-grade fume reported outside the flue and two cars (about t#0 tone) of high grade fume. Tha balance of the computed inventory was classes as high-grade fume in the flues [and in tha baghouaa.
agft.|n-lans^t
Fume in-transit is derived from ears shipped from Ease Helena hut not receive! ct their destiiuiticn. S.The February 29, 1952 inventory consisted offers enroute to Great Falls, march 19:2 weights and assays wer ;:'wed to computs weights end contents. All cars shipped in February were accounted for in the audit.
ITHYEH'fORf VALUATION
Aa reported before, valuation of inventories is confuted on the last-in. first-out basis on zinc ^content of the fume. The beee for this system was December 31, 1943, and hae been built up as follows to
member 31* 1951*
tl+&(
Deoamber 1943 June 1943 December 194? March 1948 Tear 1949
Zinc Founds
298,471 98,937
148,077 315*449 111.766
972,700
----
P.Dr-CS\fflll
$ 1.2349 1.2925 2.3110 3.1672
2al5fi2
i 3.CJ5.05 1,272.76 3*422.06 9,990.90
- 3.,5KSa
e 22,0:7.35
Pur Pound
v 9333 1.0160 1.4396 1.9443 LA422
&*
v 2,76;.. 63 i, U- .20 2,131.72 6,136.5
--I*iiA2,iO
13,1,99.00
------
I average costs.
' inventory had decreased to 921,3bd pounds (. zinc a: i tire last ad ct'il CCJL Wab 1949 monthly costs were usod for incr Si.-.srat Lui ii. iiV/.v this was CUUiV.uJ XO j-cli.
After computing inventory values, the net cost of production is aval laidc h* deduction awn spilt to
^various shipments on the basis of einc content. In February 1952, retroactive via,-. j accents noCsuuiuuc
116,800.00 in credits to purchase costs because of the la Lor cost adjusu^nt In th.< A;..erJc.tn Su.fitin. and it.fjnii.j
1 Coopery slag contract. This credit was allocated entirely to Groat Falls Zinc hja.it oi.j;i .i.tu on .cru^ai 01 i.r.
gSneddon to avoid the allocetion to various buyers over the pact ivcn wwntl.u. in.. r.-nu P.**.! Zinc
iv c . iv-..;
fever 95? of all fume shipi-ed mailing this a reasonable decision.
BgROhS AhD DISChEFAbClES
No errors of ary consequence were found in tla records of February 1V52. [QfflBttL BEtiARKS
As discussed in the report the new slag contract iith the American di.eiiin^ a.10 Uefininy Cct., ary i3
resulting in lower purchase prices. It is also more simplified ii. i
rules a.vi
TJiin new c;.iUuct
J"L hold until Deeeniber 31# i960.
A naw form of monthly inventory report was drawn uj' and
-es Lad fc.
rtrlntandent* a calculations mors closely and would allow Great Fells to dr.u off
jtimnge. It will be presented to Mr. Baldwin upon his return u> East hclora.
ii. follow:; tbw flrn. ui the i r-njulrcri figure without
All past suggestions made in Metallurgical audits have be.n
ct-1 <u C t
uniform tare weights on pots and hats receipts and the lu.'uVr,,, hill ;(' i- i... .
icepted enI have proven useful.
ha\ 1 : . in., du
PNYC 00011864