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Effectus [21]
3 years ago
9

Croy Inc. has the following projected sales for the next five months: Month Sales in Units April 3,470 May 3,830 June 4,570 July

4,170 August 3,970 Croy’s finished goods inventory policy is to have 50 percent of the next month’s sales on hand at the end of each month. Direct materials costs $2.80 per pound, and each unit requires 2 pounds. Direct materials inventory policy is to have 50 percent of the next month’s production needs on hand at the end of each month. Direct materials on hand at March 31 totaled 3,650 pounds. Required: 1. Determine budgeted production for April, May, and June. 2. Determine budgeted cost of materials purchased for April and May.
Business
1 answer:
Ne4ueva [31]3 years ago
4 0

Answer:

1. Production units for April      3,650 units

  Production units for May       4,200 units

  Production units for June       4,370 units

2. Budgeted cost of materials for April = $ 21,980

   Budgeted cost of materials for April = $ 23,996

Explanation:

Computation of budgeted production units

                                                                                  April          May         June  

                                                                                 Units         Units        Units

Ending Inventory - 50 % of next  month                 1,915        2,285       2,085

Add: Sales                                                                 3,470       3,830      4,570

Less: Opening Inventory-50% of current month   <u>( 1,735)</u>      <u>(1,915)</u>     (<u>2,285)</u>

Production units for the  month                            3,650       4,200      4,370

Computation of cost of materials

Units production                                                      3,650         4,200      4,370

Material requirement per unit - 2 pounds            

Total material requirement for production             7,300         8,400      8,740

Closing inventory-50% next month production     4,200         4,370                                                                                                    

Opening inventory-50% of current production     <u>( 3,650)  </u>    <u> (4,200)</u>

Total material requirement for production              7,850        8,570

Cost per pound of direct material  $ 2.80

Total direct material Budget                                 $ 21,980   $ 23,996

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Which of the following is a function of the Federal Reserve System Board of Governors?
vfiekz [6]

Answer:

The answer is below

Explanation:

The Federal Reserve System Board of Governors is one of the five branches of the Federal Reserve System. Their roles involve carrying out the analysis of economic data, executing supervision of Reserve Banks, establishing and overseeing financial regulations.

The board comprises seven members with 14-year terms. They also partake in the Federal Open Market Committee and as well liaising with leaders in other parts of the government.

4 0
3 years ago
Rotweiler Obedience School's December 31, 2015, balance sheet showed net fixed assets of $1,780,000, and the December 31, 2016,
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Answer: Company's net capital spending for 2016 = $702,000

Explanation:

Given that,

On December 31, 2015:

Net fixed assets = $1,780,000

On December 31, 2016:

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Depreciation expense = $332,000

Therefore,

Company's net capital spending for 2016:

= Ending net assets + Depreciation expense - Beginning net assets

= $2,150,000 + $332,000 - $1,780,000

= $702,000

8 0
3 years ago
It is of utmost importance that the recruitment, screening, orientation, training, evaluation, and retention of crisis workers d
svp [43]

Answer:

The answer is options A) and B)

A) learning the basic communication skills of the residents of the areas they are serving:

B) a multicultural clientele.

Explanation:

In crisis periods like the one we are currently experiencing as a result of the Covid-19 Pandemic, It is of utmost importance that the recruitment, screening, orientation, training, evaluation, and retention of crisis workers deal with the reality of:

A) learning the basic communication skills of the residents of the areas they are serving: this procedure takes place during the orientation, training and evaluation stage.

B) a multicultural clientele: The accurate knowledge of multi-cultural clientele guides the order of recruitment in the sense that, workers are properly assigned to the area that matches their experience, skill set and cultural inclination.

8 0
3 years ago
Fashion, Inc. had a Retained Earnings balance of $16,000 at December 31, 2021. The company had an average income of $6,500 over
avanturin [10]

Answer:

Total amount of dividends paid over the last three years is $20500

Explanation:

The net income of the company is either retained in the company or paid out as dividends. To calculate the value of the ending retained earnings, we use the following formula,

Ending balance = Beginning balance + Net Income - Dividends

We first need to calculate the total net income for the 3 year period. The total net income for the 3 year period is, 3 * 6500 = $19500

Plugging in the available values for the ending and beginning balance of retained earnings and net income, we can calculate the value of total dividends paid for the three year period.

15000 = 16000 + 19500 - Dividends

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4 0
3 years ago
Pie Co. uses the installment sales method to recognize revenue. Customers pay the installment notes in 24 equal monthly amounts,
Nataliya [291]

Answer:

C. The present value of the remaining monthly payments discounted at 12%.

Explanation:

To answer the question I have used following values to workout

Original Sales Value = 500,000

Interest rate  = 12%

Numbers of periods = 24

First I calculate the Equal annual installment payment by using following excel formula

=PMT(rate,nper,pv,[fv],[type])

Where

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rate = Interst rate = 12%/12 = 1%

nper = Tota numbers of payment = 24 payments

pv = oroginal sales value = 500,000

FV = Value outstanding after 24 payments = 0

Type = The payment made at the start or end of the year ( 0 for the payment made at the end of the period and 1 for the payment made at the beginning of the period ) = 0

placing values in the formula

=PMT(1%,24,50,000,0,0)

= $23,536.74  

Now use these values to make the schedule which is attached with this answer.

After six Payment

Outstanding value = 385,961.72  

Original sales price = 500,000

Percentage of outstanding balance to original sales value = 385,961.72 / 500,000 = 0.77 = 77%

The reamining balance is above 75% of the original sales price.

Note:

A payment schedule is attached for reference

Download pdf
3 0
3 years ago
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