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Serggg [28]
2 years ago
12

Comfy Inc. uses five yards of wool in each blanket it produces. Comfy’s production budget next year is 30,000 blankets. The anti

cipated wool inventory at January 1 is 30,000 yards, but the company desires to reduce the inventory to 20,000 yards by the end of the year. Each yard of wool costs $10. How many yards of wool should Comfy purchase?
Business
1 answer:
Kamila [148]2 years ago
7 0

Answer:

wool purchased = 140,000 yards

Explanation:

given data

wool in each blanket = five yards

production budget = 30,000 blankets

beginning inventory = 30,000 yards

Ending inventory = 20,000 yards

wool costs = $10

to find out

How many yards of wool should Comfy purchase

solution

we get first production in yards that is

production in yards = 30,000 × 5

production in yards = 150,000

and

wool purchased will be

wool purchased = production - ( beginning inventory -  Ending inventory)

wool purchased = 150,000 - ( 30000 - 20000 )

wool purchased = 140,000 yards

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You have $7,863 you want to invest for the next 34 years. You are offered an investment plan that will pay you 11.8 percent per
Marianna [84]

Answer:

$1731692.97

Explanation:

FV (end of 34 years) = (7863*(1.118)^9) * (1.192)^25 = $1731692.97

3 0
2 years ago
Alpha Company is preparing its cash budget for the month of May. The company estimated credit sales for May at $200,000. Actual
disa [49]

Answer:

$157,000

Explanation:

The calculation of estimated cash receipts from accounts receivable collections in May is shown below:-

Collections from sales of may = $200,000 × 20%

= $40,000  

Collections from sales of April = $150,000 × 70%

= $105,000

Collections from sales of prior period = $12,000    

Estimated Collections in May month = Collections from sales of may + Collections from sales of April + Collections from sales of prior period

= $40,000 + $105,000 + $12,000

= $157,000

So, for computing the estimated collection in may month we simply applied the above formula.

4 0
3 years ago
Crane Company uses a periodic inventory system. Details for the inventory account for the month of January, 2020 are as follows:
vovikov84 [41]

Answer:

Crane Company

If Crane Company uses LIFO, the value of the ending inventory is:

= $440.

Explanation:

a) Data and Calculations:

                               Units   Unit Cost   Total Cost

1/1/20 inventory      150      $4.00         $600

1/15/20 Purchase,    70         5.10            357

1/28/20 Purchase,   70        5.30            371

Total                      240                       $1,328

1/31/20 inventory   110       $4.00         $440 ($4.00 * 110)

b) The LIFO method assumes that goods that are sold first are the last that were purchased.  Therefore, the cost of the ending inventory is usually based on the cost of the earlier inventory purchased.  In our case, the cost per unit was based on the beginning inventory balance.

 

4 0
2 years ago
Anderson Corporation has provided the following production and average cost data for two levels of monthly production volume. Th
nata0808 [166]

Answer:

Option (D) is correct.

Explanation:

Calculation of total manufacturing overhead:-

4000 units manufacturing overhead:

= Production volume ×  Manufacturing overhead

= 4,000 × $94

= $376,000

5000 units manufacturing overhead:

= Production volume ×  Manufacturing overhead

= 5,000 × $77.60

= $388,000

Variable cost per unit:

=\frac{5000\ units\ manufacturing\ overhead-4000\ units\ manufacturing\ overhead}{1000}

=\frac{388,000-376,000}{1000}

= 12

Fixed cost = Total cost - variable cost

                 = $388,000 - 5,000 × 12

                 = $388,000 - $60,000

                 = $328,000

So total monthly fixed manufacturing cost is $328,000.

7 0
3 years ago
Perdue Company purchased equipment on April 1 for $93,420. The equipment was expected to have a useful life of three years, or 7
k0ka [10]

Answer:

The depreciation cost per year is:

Year 1: $16,800

Year 2: $31,200

Year 3: $27,600

Year 4: $15,120

Explanation:

To calculate the depreciation cost for the equipment based on hours used, we must determine the cost per hour:

cost per hour = (purchase cost - salvage value) / expected useful life

cost per hour = ($93,420 - $2,700) / 7,560 hours = $90,720 / 7,560 hours = $12 per hour

The depreciation cost per year is:

Year 1: 1,400 hours x $12 per hour = $16,800

Year 2: 2,600 hours x $12 per hour = $31,200

Year 3: 2,300 hours x $12 per hour = $27,600

Year 4: 1,260 hours x $12 per hour = $15,120

3 0
3 years ago
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