The production department of Zan Corporation has submitted the following forecast of units to be produced...
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The production department of Zan Corporation has submitted the following forecast of units to be produced by quarter for the upcoming fiscal year: 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Units to be produced 25,e00 28,800 27,000 26,000 In addition, 50,000 grams of raw materials Inventory is on hand at the start of the 1st Quarter and the beginning accounts payable for the 1st Quarter Is $8,800. Each unit requires 8 grams of raw materlal that costs $1.20 per gram. Management desires to end each quarter with an Inventory of raw materlals equal to 25% of the following quarter's production needs. The desired ending Inventory for the 4th Quarter is 8,000 grams. Management plans to pay for 60% of raw materlal purchases In the quarter acquired and 40% In the following quarter. Each unit requires 0.20 direct labor-hours and direct laborers are pald $11.50 per hour. Required: 1. and 2 Calculate the estimated grams of raw materlal that need to be purchased and the cost of raw materlal purchases for each quarter and for the year as a whole. 3. Calculate the expected cash disbursements for purchases of materials for each quarter and for the year as a whole. 4. Calculate the estimated direct labor cost for each quarter and for the year as a whole. Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Reg 4 Calculate the estimated grams of raw material that need to be purchased and the cost of raw material purchases for each quarter and for the year as a whole. 1st 2nd 3rd 4th Year Quarter Quarter Quarter Quarter Estimated grams of raw material to be purchased Cost of raw materials to be purchased Req 1 and 2 Req 3 Req 4 Calculate the estimated direct labor cost for each quarter and for the year as a whole. (Round "Direct labor-hours per unit" and "Direct labor cost per hour" answers to 2 decimal places.) 1st 2nd 3rd 4th Year Quarter Quarter Quarter Quarter Total direct labor cost The production department of Zan Corporation has submitted the following forecast of units to be produced by quarter for the upcoming fiscal year: 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Units to be produced 25,e00 28,800 27,000 26,000 In addition, 50,000 grams of raw materials Inventory is on hand at the start of the 1st Quarter and the beginning accounts payable for the 1st Quarter Is $8,800. Each unit requires 8 grams of raw materlal that costs $1.20 per gram. Management desires to end each quarter with an Inventory of raw materlals equal to 25% of the following quarter's production needs. The desired ending Inventory for the 4th Quarter is 8,000 grams. Management plans to pay for 60% of raw materlal purchases In the quarter acquired and 40% In the following quarter. Each unit requires 0.20 direct labor-hours and direct laborers are pald $11.50 per hour. Required: 1. and 2 Calculate the estimated grams of raw materlal that need to be purchased and the cost of raw materlal purchases for each quarter and for the year as a whole. 3. Calculate the expected cash disbursements for purchases of materials for each quarter and for the year as a whole. 4. Calculate the estimated direct labor cost for each quarter and for the year as a whole. Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Reg 4 Calculate the estimated grams of raw material that need to be purchased and the cost of raw material purchases for each quarter and for the year as a whole. 1st 2nd 3rd 4th Year Quarter Quarter Quarter Quarter Estimated grams of raw material to be purchased Cost of raw materials to be purchased Req 1 and 2 Req 3 Req 4 Calculate the estimated direct labor cost for each quarter and for the year as a whole. (Round "Direct labor-hours per unit" and "Direct labor cost per hour" answers to 2 decimal places.) 1st 2nd 3rd 4th Year Quarter Quarter Quarter Quarter Total direct labor cost
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Answer rating: 100% (QA)
Solution 1 Schedule of RM purchase Particulars Q1 Q2 Q3 Q4 Total Units to be produced 25000 28000 27... View the full answer
Related Book For
Managerial Accounting
ISBN: 978-1259307416
16th edition
Authors: Ray Garrison, Eric Noreen, Peter Brewer
Posted Date:
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