Saved http Help Save & Exit Submit Check my work mode: This shows what is correct...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Saved http Help Save & Exit Submit Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. 2 pints Return to question Dimsum Products Limited of Nanjing, China, manufactures and distributes toys throughout Southeast Asia. Three cubic centimetres (cc) of solvent S27 are required to manufacture each unit of Fineclay, one of the company's products. The company is now planning raw materials needs for the third quarter, the quarter in which peak sales of Fineclay occur. To keep production and sales moving smoothly, the company has the following inventory requirements: a. The finished goods inventory on hand at the end of each month must be equal to 4,500 units of Fineclay plus 15% of the next month's sales. The finished goods inventory on June 30 is budgeted to be 15,000 units. b. The raw materials inventory on hand at the end of each month must be equal to one-half of the following month's production needs for raw materials. The raw materials inventory on June 30 is budgeted to be 81,000 cc of solvent S27. c. The company maintains no work-in-process inventories. A sales budget for Fineclay for the last six months of the year follows: Budgeted Sales in Units July August 52,500 60,000 September 75,000 October 45,000 November 30,000 December 15,000 Mc Required: 1. Prepare a production budget for Fineclay for the months of July to October. Answer is complete but not entirely correct. Dimsum Products Limited Production Budget July August September October Budgeted sales (units) 38,500 x 44,000 x 155,100 x 33,000 Add: Desired ending inventory 9,600 x 77,550 x 8,250 x 6,600 Total needs 48,400 x 55,550 63,250 39,600 Deduct: Beginning inventory Required production 11,000 x 9,600 X 11,550 x 8,250 37,400 45,650 52,300 31,350 Help Save & Exi heck my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate com 2 2. This part of the question is not part of your Connect assignment. Return to q ints 3. Prepare a budget showing the quantity of solvent S27 to be purchased for July, August, and September, and for the q in total. Answer is complete but not entirely correct. Dimsum Products Limited Raw Materials Purchases Budget Third July August September Quarter Solvent S27 purchases (cc) Add: Desired ending inventory Total solvent S27 needs Deduct: Beginning inventory 112,200 x 136,950 156,900 X 406,050 X 68,475 x 180,675 x 78,450 215,400 x 47,025 47,025 203,925 600,000 59,400 68,475 X 78,450 59,400 Solvent S27 purchases (cc) 121,275 x 146,925 X 125,475 540,600 Saved http Help Save & Exit Submit Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. 2 pints Return to question Dimsum Products Limited of Nanjing, China, manufactures and distributes toys throughout Southeast Asia. Three cubic centimetres (cc) of solvent S27 are required to manufacture each unit of Fineclay, one of the company's products. The company is now planning raw materials needs for the third quarter, the quarter in which peak sales of Fineclay occur. To keep production and sales moving smoothly, the company has the following inventory requirements: a. The finished goods inventory on hand at the end of each month must be equal to 4,500 units of Fineclay plus 15% of the next month's sales. The finished goods inventory on June 30 is budgeted to be 15,000 units. b. The raw materials inventory on hand at the end of each month must be equal to one-half of the following month's production needs for raw materials. The raw materials inventory on June 30 is budgeted to be 81,000 cc of solvent S27. c. The company maintains no work-in-process inventories. A sales budget for Fineclay for the last six months of the year follows: Budgeted Sales in Units July August 52,500 60,000 September 75,000 October 45,000 November 30,000 December 15,000 Mc Required: 1. Prepare a production budget for Fineclay for the months of July to October. Answer is complete but not entirely correct. Dimsum Products Limited Production Budget July August September October Budgeted sales (units) 38,500 x 44,000 x 155,100 x 33,000 Add: Desired ending inventory 9,600 x 77,550 x 8,250 x 6,600 Total needs 48,400 x 55,550 63,250 39,600 Deduct: Beginning inventory Required production 11,000 x 9,600 X 11,550 x 8,250 37,400 45,650 52,300 31,350 Help Save & Exi heck my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate com 2 2. This part of the question is not part of your Connect assignment. Return to q ints 3. Prepare a budget showing the quantity of solvent S27 to be purchased for July, August, and September, and for the q in total. Answer is complete but not entirely correct. Dimsum Products Limited Raw Materials Purchases Budget Third July August September Quarter Solvent S27 purchases (cc) Add: Desired ending inventory Total solvent S27 needs Deduct: Beginning inventory 112,200 x 136,950 156,900 X 406,050 X 68,475 x 180,675 x 78,450 215,400 x 47,025 47,025 203,925 600,000 59,400 68,475 X 78,450 59,400 Solvent S27 purchases (cc) 121,275 x 146,925 X 125,475 540,600
Expert Answer:
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
Students also viewed these accounting questions
-
1 Question One Special Day Souvenirs creates customized customized cornhole sets which are popular gifts for special events. During the month of November 20XX, Special Day Souvenirs undertook one job...
-
Transform the following product by making the change of variable i = k + 1. k So when k and K +2 When k = 1, then i = n k II k +2 k = 1 = n+ 1 II i = 2 are expressed in terms of i, the results are k...
-
Create a VB application that lets the user enter his or her weight (in pounds) and height (in inches). If the user fails to enter numeric values, display an appropriate error message and do not...
-
A 2.6-L sample of water contains 192 mg of lead. Does this concentration of lead exceed the safety limit of 0.050 ppm of lead per liter of drinking water?
-
What type of documents can be obtained through document requests?
-
Does Sec. 351 apply to property transfers to an existing corporation? Suppose Carl and Lynn each own 50 shares of North Corporation stock. Carl transfers property worth $50,000 to North for an...
-
Investment pays $125 at the beginning of every 6-month period for the next 10 years (a total of 20 payments). Assuming interest rate is 10% Show this what values go for N, I/Y, PV, PMT in the...
-
First Name Family Name Home address 1 Home address 2 Home address 3 Home address 4 Postal code Home phone number Employment record Record separator Total Employee Record Database Field Name Length 16...
-
On January 1 of the current year, Rhondell Corporation has accumulated E & P of $190,000. Current E & P for the year is $570,000, earned evenly throughout the year. Elizabeth and Jonathan are sole...
-
The formula for methane is CH 4 and its molar mass is16.04 grams/mol. (a) How many moles of methane are in 2.750 grams of methane? (b) How many molecules of methane are in a 11.5 mole sample?
-
what ways can storytelling techniques be used to enhance business writing and engage audiences? Provide examples of successful business stories and discuss why they were effective .
-
he formula for carbon tetrachloride is CCL. a. How many grams of carbon are present in 4.94 moles of carbon tetrachloride? grams b. How many moles of chlorine are present in 1.26 grams of carbon...
-
What is the maximum number of electrons in aluminum (Al) thatcan have a spin quantum number with a value of m(s)=1/2? Assume aluminum is in its ground state.
-
Design a suitable footing for exterior column C1 at corner (assume the live load reduction factor is 20%). The depth of foundation is (1.5+27/30) meter. The average density of backfill material and...
-
Pappa's Appliances uses the periodic inventory system. Details regarding the inventory of appliances at January 1, purchases invoices during the year, and the inventory count at December 31 are...
-
While preparing Massie Miller's 2012 Schedule A, you review the following list of possible charitable deductions provided by Massie: Cash contribution to a family whose house burned...
-
If Charles, a 16-year-old child model, earns $50,000 a year and is completely self supporting even though he lives with his parents, can his parents claim him as a dependent? Why or why not?...
-
Carol Harris, Ph.D, CPA, is a single taxpayer and she lives at 674 Yankee Street, Durham, NC 27409. Her Social Security number is 793-52-4335. Carol is an Associate Professor of Accounting at a local...
-
Derive the equation of motion and natural frequency for mass \(m\) shown in Figure 2.57. Assume the pulleys are massless, the cable is inextensible, and let the spring constant be \(k\). eeeee k...
-
Derive the equation of motion and natural frequency for mass \(m\) shown in Figure 2.58. Assume the pulleys are massless, and let the spring constants be \(k_{1}\) and \(k_{2}\). Let \(x_{1}\) and...
-
Derive Equation 2.30, \[ x(t)=B_{1} \cos \omega_{n} t+B_{2} \sin \omega_{n} t \] beginning with the equation of motion.
Study smarter with the SolutionInn App