The company wants to maintain a desired ending raw material inventory in the current quarter equal...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The company wants to maintain a desired ending raw material inventory in the current quarter equal to 10% of the next quarter's production. The only raw material used to produce a single unit is the 2 pounds of molding material. The material costs $1.20 per pound. The company began the first quarter of year 3 with 6,600 pounds in the beginning raw material inventory. Production Budget Fiscal Year 3 Production in units Quarter 1 33,000 Quarter 2 40,000 What is the desired ending inventory for quarter 2? Quarter 3 32,500 Quarter 4 35,550 The company wants to maintain a desired ending raw material inventory in the current quarter equal to 10% of the next quarter's production. The only raw material used to produce a single unit is the 2 pounds of molding material. The material costs $1.20 per pound. The company began the first quarter of year 3 with 6,600 pounds in the beginning raw material inventory. Production Budget Fiscal Year 3 Production in units Quarter 1 33,000 Quarter 2 40,000 What is the desired ending inventory for quarter 2? Quarter 3 32,500 Quarter 4 35,550
Expert Answer:
Related Book For
Posted Date:
Students also viewed these accounting questions
-
A Co reported the below cost and revenue formulas. Sales $27Q Cost of goods sold $12Q Salaries expense $5,500 per month Utilities expense $125 plus $2.50Q Rent expense $2,000 per month Misc expense...
-
Company A is a worldwide wooden musical part manufacturing firm based in North America. After many years in the market, the Peterborough division, which produces one product called Xylophone1BX...
-
1 NAKE's sales budget for basketballs for the next months: Jan 500,000 Units 4 Feb 600,000 Mar They sell each basketball for $12 They want ending inventory to be 30% of the next month's sales units....
-
What will be the sum of third proportional to 18 and 54 and fourth proportional to 12, 18 and LCM of 12 and 18? 1. 162 2. 216 3. 612 4. 256 526 5.
-
Alabama law imposes a fee of $97.60 per ton for hazardous wastes generated outside the state and disposed of at a commercial facility in Alabama. The fee for hazardous wastes generated within Alabama...
-
Swift Skateboards sells unassembled skateboards for $65 each. Variable production costs for each board are $10 and fixed production costs are $18. Swift is considering selling the skateboards fully...
-
The air removal from the surface condenser leads to (a) fall in condenser pressure (b) rise in condenser pressure (c) no change in condenser pressure (d) rise in condenser temperature
-
Leppard Enterprises had the following selected transactions. 1. Kim Leppard invested $5,000 cash in the business in exchange for common stock. 2. Paid office rent of $950. 3. Performed consulting...
-
Briefly describe the forensic psychology career field Explain what drew you to this field (forensic psychology) Examine the impact of past, current, and developing technology in your field (forensic...
-
Please note that IGM's share price is $43.60 and Saxon's current publicly traded share price is $12.70. Please assume that Saxon earns 0% interest income from its cash and its short term investments....
-
You made a housing loan amounting to 1.25 million pesos at an interest rate of 10% compounded semiannually with equal payments to be made at the beginning of each semiannual. The loan is payable in...
-
What are the practical arguments for and against allowing private citizens to make arrests when they observe criminal activity taking place? What is the law in your state governing citizens arrests?
-
What should be done about the millions of foreign nationals who have entered the United States illegally? Should they be prosecuted for immigration offenses, deported to their countries of origin, or...
-
How might police coerce a suspect into waiving the right to counsel and to remain silent during interrogation? How can courts ensure that cooperation with police was voluntary?
-
What are the arguments for and against allowing defendants without any legal training to represent themselves in felony prosecutions? How far should a trial judge go in advising a defendant of the...
-
Are acts of terrorism perpetrated against the United States by foreign nationals more appropriately viewed as crimes or acts of war? Is the criminal justice system the appropriate means of dealing...
-
Joe has just started work and his employer offers him the opportunity take up life insurance. By joining an employee group life cover scheme. In the documents they refer to something called...
-
Create an appropriate display of the navel data collected in Exercise 25 of Section 3.1. Discuss any special properties of this distribution. Exercise 25 The navel ratio is defined to be a persons...
-
After preparing the budget for the second quarter based on the parameters in Case 5-38, Kim Klandon was not satisfied with the projected results and began to investigate the following alternatives....
-
To calculate the unit cost of the MP3 players that he sells at his mall kiosk, Joel Lawson added up all his costs and divided by the number of units he sold during the year. He then used this unit...
-
Refer to the data in exercise 7-7. Carson Weeks is taking the next step in his exploration of activity-based costing and wants to examine the overhead costs that would be allocated to two of the...
-
Victoria has prepared the following list of statements about corporations. 1. A corporation is an entity separate and distinct from its owners. 2. As a legal entity, a corporation has most of the...
-
Indicate whether the following items would appear on the income statement (IS), statement of financial position (SFP), or retained earnings statement (RES). a. Dividends. b. Cash. c. Salaries and...
-
On May 10, Chen Co. issues 2,000 6 par value ordinary shares for cash at 13 per share. Journalize the issuance of the shares.
Study smarter with the SolutionInn App