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Marizza181 [45]
3 years ago
8

A company determined that the budgeted cost of producing a product is $30 per unit. On June 1, there were 72000 units on hand, t

he sales department budgeted sales of 220000 units in June, and the company desires to have 40000 units on hand on June 30. "The budgeted cost of goods sold" for June would be
Business
1 answer:
Lyrx [107]3 years ago
4 0

Answer:

"The budgeted cost of goods sold" for June would be $5,640,000

Explanation:

Sales department budget for June = 220,000  units

Less-Opening balance as on 1st June = 72,000  units

Add-Closing balance as on 30th June = 40,000  units

No of unit manufactured = Sales department budget for June  - Opening balance as on 1st June + Closing balance as on 30th June

= 220,000 - 72,000 + 40,000

= 188,000  units

Cost per unit = $30

Budgeted cost of manufactured = 188,000 × $30 = $5,640,000

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3 years ago
Suppose seafood price and quantity data for the years 2000 and 2009 follow. Use 2000 as the base period. Seafood 2000 Qty. (lb)
Ksivusya [100]

Answer:

a) Price Relative for Halibut is 115.9 (1 d.p)

Price Relative for Lobster is 85.4 (1 d.p)

Price Relative for Tuna is 105.4 (1 d.p)

b) The Weighted Aggregate Price Index for the seafood catch is 98.4.

Explanation:

a) The Price Relative for a good refers to it's current price divided by it's base price times 100. It therefore measures a change in price across different periods.

Writing the formula as stated is,

Price Relative = Current Price / Base Price * 100

Price Relative for Halibut = 2.33/2.01 * 100

= 115.9 (1 d.p)

Price Relative for Lobster = 3.09/3.62 * 100

= 85.4 (1 d.p)

Price Relative for Tuna = 1.97/1.87 * 100

= 105.35

= 105.4 (1 d.p)

b) The Weighted Aggregate Price Index enables us to see how prices in a particular basket has changed over a period of time. It is calculated as follows,

Weighted Price Index = (Sum of Weighted Current Price ) / ( Sum of weighted Base Price) * 100

Sum of Weighted Current Price = (75,190 * 2.33) + (83,080 * 3.09) + ( 50,779 * 1.97)

= 538,124.53

Sum of Weighted Base Price = (75,190 * 2.01) + (83,080 * 3.62) + ( 50,779 * 1.87)

= 546,838.23

Weighted Price Index = (538,124.53 / 546,838.23) *100

= 98.4

The Weighted Aggregate Price Index for the seafood catch is 98.4.

6 0
3 years ago
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