6,200 pounds of raw materials should be purchased in July.
<h3>
What are raw materials?</h3>
- Raw materials are the goods or inventories required by a company to make its products.
- Steel, oil, corn, grain, gasoline, lumber, forest resources, plastic, natural gas, coal, and minerals are examples of raw materials.
The raw material purchases for July are computed as follows:
- Required production in units of finished goods.
- Units of raw materials needed per unit of finished goods.
- Units of raw materials are needed to meet production.
- Add desired units of ending raw materials inventory.
- Total units of raw materials needless units of beginning raw materials inventory.
- Units of raw materials to be purchased.
71,000 pounds × 10% = 7,100 pounds.
62,000 pounds × 10% = 6,200 pounds.
Therefore, 6,200 pounds of raw materials should be purchased in July.
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The correct question is given below:
If 71,000 pounds of raw materials are needed to meet production in August, how many pounds of raw materials should be purchased in July?
Answer:
$460,000
Explanation:
Given that,
Sales:
Jan. = $500,000
April = $490,000
Feb. = $740,000
May = $740,000
Mar. = $380,000
June = $610,000
Total cash receipts for April 2012:
= Cash receipts from February Sales + Cash receipts from March Sales + Cash receipts from April Sales
= (740,000 × 10%) + (380,000 × 50%) + (490,000 × 40%)
= $74,000 + $190,000 + $196,000
= $460,000
Answer: The higher the risk, the higher the return.
Returns from an investment refers to the gains or losses over a specified period, and is quoted as percentage.
Risk refers to the possibility or the chance that the actual return that is earned is greater than or less than the return expected by the investor. Thus, uncertainty is another name for risk.
If the returns from an investment are certain, the risk involved is low. When risk is low, the returns are also low. For e.g. the return from a T-bill is low because the risk of default is zero, since the government can print money to fund its debt.
The higher the level of risk involved, the greater the potential for a higher return.
Answer:
1. a.) Dr Supplies 4500
Cr Cash 4500
b.) Dr Supplies expense 1000
Supplies 1000
2.a.) Dr Prepaid insurance 24000
Cr Cash 24000
b.) Dr Insurance expense 2000
Cr Prepaid insurance 2000
3. Dr Salaries expense 16000
Cr Salaries payable 16000
4.a.)Dr Cash 4500
Advance rent 4500
b.)Dr Rent expense 1500
Cr Advance rent 1500
Explanation:
1.Supplies were purchased on cash and at the end of period supplies were on hand was 3500 so 1000 was of supplies were used.
2. Annually insurance prepaid was 24000=2000 * 12.so
For the month of Dec was 2000 expense.
3.Salaries for the month of Dec was payable of Rs.16000.
4.As cash was received against rent which was unearned.the rent expense for the month of Dec was = 4500/3=1500.
