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
Neporo4naja [7]
3 years ago
9

The production department of Priston Company has submitted the following forecast of units to be produced by quarter for the upc

oming fiscal year.
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
Units to be produced 6,000 7,000 8,000 5,000

In addition, the beginning raw materials inventory for the 1st Quarter is budgeted to be 3,600 pounds and the beginning accounts payable for the 1st Quarter is budgeted to be $11,775.

Each unit requires three pounds of raw material that costs $2.50 per pound. Management desires to end each quarter with a raw materials inventory equal to 20% of the following quarter
Business
1 answer:
Levart [38]3 years ago
8 0

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

1st Quarter -  2nd Quarter - 3rd Quarter - 4th Quarter

Units to be produced: 6,000 - 7,000 - 8,000 - 5,000

the beginning raw materials inventory= 3,600

Each unit requires three pounds of raw material that costs $2.50 per pound. Management desires to end each quarter with a raw materials inventory equal to 20% of the following quarter

I will assume that the requirements are the cost of direct material for each quarter.

<u />

<u>The direct material budget is calculated by the following formula:</u>

Direct material budget= direct material for production + ending inventory - beginning inventory

Q1:

Production= (6,000*3)*$2.5= $45,000

Ending inventory= [(7,000*3)*$2.5]*0.20= $10,500

Beginning inventory= (3,600*2.5)= (9,000)

Total= $46,500

Q2:

Production= (7,000*3)*$2.5= $52,500

Ending inventory= [(8,000*3)*$2.5]*0.20= $12,000

Beginning inventory= (10,500)

Total= $54,000

Q3:

Production= (8,000*3)*$2.5= $60,000

Ending inventory= [(5,000*3)*$2.5]*0.20= $7,500

Beginning inventory= (12,000)

Total= $55,500

You might be interested in
Illustrate the following with supply and demand curves:
Alex_Xolod [135]

Answer:

Explanation:

Illustrate the following with supply and demand curves:

a. With increased access to wireless technology and lighter weight, the demand for tablet computers has increased

substantially. Tablets have also become easier and cheaper to produce as new technology has come online. Despite the shift of demand, prices have fallen.

b. Cranberry production in Massachusetts totaled 1.85 mil-lion barrels in 2013, a 15 percent decrease from the 2.12 million barrels produced in 2012. Demand decreased by even more than supply, dropping 2013 prices to $32.30 per barrel from S47.90 in 2012.

c. During the high-tech boom in the late 1990s, San Jose office space was in high demand and rents were high. With the national recession that began in March 2001, however, the market for office space in San Jose (Silicon Valley) was hit hard, with rents per square foot falling. In 2005, the employment numbers from San Jose were rising slowly and rents began to rise again. Assume for simplicity that no new office space was built during the period.

d. Before economic reforms were implemented in the countries of Eastern Europe, regulation held the price of bread substantially below equilibrium. When reforms were implemented, prices were deregulated and the price of bread rose dramatically. Asa result the quantity of bread demanded fell and the quantity of bread supplied rose sharply.

e. The steel industry has been lobbying for high taxes on imported steel. Russia, Brazil, and Japan have been producing and selling steel on world markets at $610 per metric ton, well below what equilibrium would be in the United States with no imports. if no imported steel was permitted into the country, the equilibrium price would be 970 per metric ton. Show supply and demand curves for the United States, assuming no imports; then show what the graph would look like if U.S.

buyers could purchase all the steel that ' they wanted from world markets at $610 per metric ton; label the portion of the graph that represents the quantity of imported steel.

The detailed answer is attached

5 0
2 years ago
Which of the following statements is false?
serious [3.7K]

Answer:

ERP systems use the same data as functional information systems.

Explanation:

At its most fundamental level, ERP software integrates these different capacities into one complete framework to streamline procedures and data over the whole organization. The focal element of all ERP frameworks is a shared database that supports multiple capacities utilized by various business units.

3 0
3 years ago
The basic premise of​ ______ is that firms should establish objectives and evaluate strategies on criteria other than using only
mart [117]

Answer:

D, balanced scorecard

Explanation:

A balanced scorecard is a management strategy in which managers are able to assess the amount of job done by employees under their area of control.

It also helps to see whatever complications or success that are as a result of the job done by the employees.

A balance scorecard involves the satisfaction of customers by how much time, quality of service, performance of service, among other things. Also, the balance scorecard is helps to focus on some other important roles that could affect customer satisfaction.

Cheers.

3 0
3 years ago
Three aspects in the cover page of a business plan
BARSIC [14]

Answer:

Explanation:

Your business plan cover page should include:

Your company logo.

Document title and business name.

Business address and contact information.

Business plan completion date.

Confidentiality statement.

6 0
3 years ago
Supply chain management involves managing: A. managing the stock room supply only. B. the flow of raw materials to inventory onl
aliya0001 [1]

Answer:

Option D is correct because supply chain management is the management of the processes and resources required that flow from the suppliers to the end to the final customer. This also includes the management of stock rooms, raw materials, inventory and internal information as well.

5 0
3 years ago
Read 2 more answers
Other questions:
  • If Sheridan Company issues 7500 shares of $10 par value common stock for $375000, the account Paid-in Capital in Excess of Par V
    13·1 answer
  • 5. Firm Q is about to engage in a transaction with the following cash flows over a three-year period: Year 0 Year 1 Year 2 Reven
    7·1 answer
  • The theory of consumer behavior assumes that - consumers behave rationally, attempting to maximize their satisfaction - consumer
    11·1 answer
  • An organization most important resource is its _ resources
    9·1 answer
  • As a manager of a retail-clothing store, Lance favors detailed job descriptions, formal rules and regulations, detailed records,
    6·1 answer
  • Allen filed his 2019 tax return on May 15th, 2020, and underreported his gross income by 30 percent. Assuming Allen's underrepor
    11·1 answer
  • On November 1, Mason Corp. issued $800,000 of its 10-year, 8% term bonds dated October 1. The bonds were sold to yield 10%, with
    12·1 answer
  • A 6 percent, annual coupon bond is currently selling at a premium and matures in 7 years. The bond was originally issued 3 years
    9·2 answers
  • Why do overhead costs often shift from high-volume products to low-volume products when a company switches from a conventional c
    9·1 answer
  • The same basic formulas used for materials and labor are used to analyze ______ portion of manufacturing overhead. Multiple choi
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!