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k0ka [10]
3 years ago
13

Northern Illinois Company expects to sell 36,000 units of finished goods over the next 6-month period. The company has 12,000 fi

nished units on hand and its managers want to have 14,000 units on hand at the end of the period. To produce one unit of finished product, two pounds of direct materials are needed. Northern Illinois has 80,000 pounds of direct material on hand and has budgeted for an ending inventory of 120,000 pounds of direct material. What is the number of finished units to be produced
Business
1 answer:
sp2606 [1]3 years ago
8 0

Answer:

38,000 units

Explanation:

Total production required = Forecasted unit sales + Planned finished goods inventory balance = 36,000 + 14,000 = 50,000 units

Products to be manufactured = Total production required - Beginning finished goods inventory = 50,000 - 12,000 = 38,000 units

The number of finished units to be produced = 38,000 units

So the correct answer will be 38,000

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Indication of items erroneously stated on:

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Therefore, the Net Income will be overstated.

B) the balance sheet as of October 31:

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Explanation:

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When recording transactions into the accounting equation, which of the following statements are correct? (Check all that apply.)
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Answer:

The correct answers are the following options:

After recording the transaction, total assets will always equal total liabilities plus equity.

The accounting equation must always remain in balance

Explanation:

To begin with, the name of <em>"Accounting Equation"</em> is famously known in the business field due to the fact that it is a concept from the accountant of companies and in fact a very important one. The accounting equation represents the sum between the equity and the debts of the company that will always give the total assets of the company. It is considered to be the foundation of the double-entry accounting system, so that is why it is so important. Moreover, under its doctrine, it proves that the balance sheet must always remain balance.

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Answer:

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Although it is quite obvious that in the short-run the business is not breaking even, based on the available options, staying open will be the best current course of action. Staying open and seeing if the trend of things change in coming fiscal years or financial periods will be better than shutting down.

Shutting down takes alot of processes that are quite expensive. Some of the processes include

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These processes are expensive and since the business does not know what is causing  the inability to cover its entire costs, it should investigate and find ways of increasing its total revenue to cover its entire costs before deciding to shut down completely.

a. Shut Down- Shutting Down is More Expensive

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