Question: Wright maintains an ending Inventory for each month in the amount of one and one-half times the expected sales in the following month. The ending

Wright maintains an ending Inventory for each month in the amount of one and one-half times the expected sales in the following month. The ending Inventory for February (March's beginning Inventory) reflects this policy. Materlals cost $7 per unit and are paid for In the month after production. Labor cost is $3 per unit and is pald for in the month Incurred. Fixed overhead is $10,000 per month. DIvidends of $14,000 are to be pald in May. The firm produced 8,000 units in February. Complete a production schedule and a summary of cash payments for March, Aprll, and May. Remember that production in any one month is equal to sales plus desired ending Inventory minus beginning Inventory. Note: Input all amounts as positlve values except Beginning Inventory values under Production Schedule whlch should be entered with a minus sign. Leave no cells blank be certaln to enter 0 wherever required
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