Answer:
54,600
Explanation:
According to the scenario, computation of the given data are as follow:-
Particular Quantity of Raw Material (liters)
Required Raw Material 56,000
Add-Raw Material’s ending stock (52,000 × 35%) 18,200
Less-Raw Material’s opening stock(56,000 × 35%) 19,600
Budgeted material need for April 54,600
We simply applied the above format for determining the budgeted material needed for the month of April
Answer and Explanation:
The computation is shown below:
For account receivable turnover ratio
Accounts Receivable Turnover is
= Sales ÷ Average Receivables
Beginning Accounts Receivable $21,400
Add: Sales $105,300
Less: Cash Receipts $81,300
Ending Accounts Receivable $45,400
Now
Accounts Receivable Turnover is
= $105,300 ÷ ($21,400 + $45,400) ÷ 2
= 3.15 times
Now days to sell is
= 365 ÷ 3.15 times
=116 days
Why estimated overhead costs (rather than actual overhead costs) are used in the costing process is explained below.
A predetermined cost is an expenditure that a company estimates ahead of time.
This cost is calculated prior to the purpose of production and includes all variable costs that affect production in a manufacturing business.
Actual overhead costs are difficult to calculate for each job, especially in a production environment with a large number of jobs.
As a result, overhead costs are allocated according to some standardized methods, which may link overhead costs to direct labor, machining time, and material used in each job.
Manufacturing overhead in a manufacturing organization refers to indirect costs that are required for production but cannot be traced back to individual products.
Machine depreciation and factory rental are two examples of manufacturing overhead costs.
Hence, computation of predetermined overhead rates is given above.
Learn more about overhead:
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