1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Oduvanchick [21]
2 years ago
6

Calculate the ending inventory of chemicals in gallons for December of the prior year, and for January and February. What is the

beginning inventory of chemicals for January? Round your answers to the nearest whole gallon.
Business
1 answer:
Annette [7]2 years ago
8 0

The ending inventories of chemicals for each month are 36,135, 33,825 and 41,456 gallons. Also, the beginning inventory for January is 36,135 gallons.

<h3>The table for planned production.</h3>

In order to calculate the ending inventory of chemicals for the three months, we would create a table for planned production as follows:

<u>                                                 January         February          March___</u>

Units to be produced               43,800          41,000             50,250

<u>Direct materials per unit             5.5                5.5                    5.5 ___</u>

Total direct materials               240,900        225,500          276,375

Since the company's policy requires ending inventories of raw materials for each month to be 15% of the next month's production needs, we have:

December = 15/100 × 240,900 = 36,135 gallons.

January = 15/100 × 225,500 = 33,825 gallons.

February = 15/100 × 276,375 = 41,456 gallons.

March = Nil.

Also, the beginning inventory of chemicals for January is given by December's ending inventory of 36,135 gallons.

Read more on ending inventory here: brainly.com/question/25947903

#SPJ1

<u>Complete Question:</u>

Patrick Inc. makes industrial solvents sold in 5-gallon drum containers. Planned production in units for the first 3 months of the coming year is:

January 43,800

February 41,000

March 50,250

Each drum requires 5.5 gallons of chemicals and one plastic drum container. Company policy requires that ending inventories of raw materials for each month be 15% of the next month's production needs. That policy was met for the ending inventory of December in the prior year. The cost of one gallon of chemicals is $2.00. The cost of one drum is $1.60. Calculate the ending inventory of chemicals in gallons for December of the prior year, and for January and February. What is the beginning inventory of chemicals for January?

You might be interested in
Sheridan Company declared a $229000 cash dividend. It currently has 12300 shares of 4%, $100 par value cumulative preferred stoc
dem82 [27]

Answer and Explanation:

The computation is shown below:

For preferred shareholders

The dividend is

= 12,300 shares × 4% × $100

= $49,200

For two years, it would be

= $49,200 × 2

= $98,400

And, the total cash dividend declared is $229,000

So, the cash distribute to common stockholder is

= $229,000 - $98,400

= $130,600

hence, the cash distribute to common stockholder is $130,600

5 0
3 years ago
Suppose you owe $3,000 on your credit card. You pay a minimum payment of $30 each month. At an Annual Percentage Rate of 12% (or
lianna [129]

Answer:

Never, you will continue to be in debt

Explanation:

the interest per month are 1% of the unpaid amount:

3,000 x 1% = 30 interest per month

the minimum payment is 30 dollars

Therefore, by doing the minimum payment we are just coering the interest generated per month we are not doing any amortization on the principal Hence we cannot repay the debt.

3 0
3 years ago
. Intellus has long-term debt of $5 million, owners' equity of $7.5 million, current assets of $1 million, gross fixed assets of
stich3 [128]

Answer:

- $0.5 million

Explanation:

The computation of the net working capital is shown below:

We know that

Net working capital = Current assets - current liabilities

where,

Current assets = $1 million

The net fixed assets = Gross fixed assets - Accumulated depreciation

= $20 million - $7 million

= $13 million

Total assets = Current assets + net fixed assets

                    = $1 million  + $13 million

                    = $14 million

And,

Total assets = Total liabilities + owners equity

$14 million = Total liabilities + $7.5 million

So, the total liabilities is

= $14 million - $7.5 million

= $6.5 million

Total liabilities = Current liabilities + long term debt

$6.5 million =  Current liabilities + $5 million

So, Current liabilities is $1.5 million

Now the net working capital equal to

=  $1 million - $1.5 million

= - $0.5 million

7 0
3 years ago
Whice of the following best describes the objective section of a lesson plan
Elanso [62]
The answer of the above question is
8 0
3 years ago
Using the data in EA-3, assume that Slick Rocks management purchased the Sandstone stock for the trading securities portfolio in
vitfil [10]

The journal entry for the purchase of the stock for the trading securities portfolio is that Securities account debited and bank account credited.

Given that Slick Rocks management purchased the Sandstone stock for the trading securities portfolio instead of the available-for-sale securities portfolio.

We are required to form the journal entry that are required by the facts presented in the case.

A journal is basically a detailed account which records all the financial transactions of a business to be used for the future reconciling of accounts.

The journal entry will be as under:

Securities account debited and bank account credited. If we know that which security is being purchased then we can name that securities also.

Hence the journal entry for the purchase of the stock for the trading securities portfolio is that Securities account debited and bank account credited.

Learn more about journal at brainly.com/question/14279491

#SPJ4

6 0
1 year ago
Other questions:
  • What strategy of modern manufacturing is Adam Smith referring to in this statement? "To take an example, therefore, from a very
    13·1 answer
  • Can someone type a paper for me
    9·2 answers
  • What name is given to the principal means of controlling the availability and cost of financial resources?
    8·1 answer
  • Cheryl bought her home three years ago for $217,000. Assuming her home appreciated at the 3% rate typical of her current market,
    12·1 answer
  • You are the project manager for Fun Days Vacation Resorts. Your new project assignment is to head up the Fun Days resort opening
    9·1 answer
  • The principal-agent problem, as applied to the labor market, would have the :
    11·1 answer
  • (L.O. 2) Nolan Company sells its product on an installment basis, earning a $450 pretax gross profit on each installment sale. F
    6·1 answer
  • Bagrov Corporation had a net decrease in cash of $10,500 for the current year. Net cash used in investing activities was $52,500
    13·1 answer
  • True or False?
    14·1 answer
  • Everything else held constant, in the market for reserves, when the federal funds rate is 2%, lowering the interest rate paid on
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!