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Yuki888 [10]
3 years ago
9

The following are budgeted data: January February March Sales in units 16,000 22,000 19,000 Production in units 19,000 20,000 18

,500 One pound of material is required for each finished unit. The inventory of materials at the end of each month should equal 25% of the following month's production needs. Purchases of raw materials for February would be budgeted to be: Multiple Choice 20,375 pounds 18,375 pounds 19,625 pounds 20,125 pounds
Business
1 answer:
m_a_m_a [10]3 years ago
7 0

Answer:

Purchases= 19,625 pounds

Explanation:

Giving the following information:

Production in units:

February= 20,000

March= 18,500

The inventory of materials at the end of each month should equal 25% of the following month's production needs.

<u>To calculate the purchases of raw materials, we need to use the following formula:</u>

Purchases= production + desired ending inventory - beginning inventory

Purchases= 20,000 + (18,500*0.25) - (20,000*0.25)

Purchases= 19,625 pounds

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Since Alice decided to lease the equipment and fixtures from the original owner rather than buying it outright to save money initially, this is thinning the assets.

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Explanation:

The preparation of the cash flows from operating activities section is shown below:-

Working note:-

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Cost of goods sold                                      $130

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Less Increase in payable salaries                $7

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Less Decrease in prepaid insurance            $5

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Income tax expenses                                     $65

Less Increase in income tax payable            $11

Paid cash for income tax                               $54

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Statement of Cash Flow

Cash collected from customers                    $337

Gain on sale of cash equivalents                  $3

less: Paid cash to suppliers                           $124

less: Paid cash to employees                        $34

less: Paid cash to insurance                           $16

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