Accounting Questions and Graded Answers.
If there were 60000 pounds of raw materials on hand on January 1, 120000 pounds are desired
for inventory at January 31, and 470000 pounds are required for January production, how many
pounds of raw materials should be purchased in January? - 530,000 pounds
(120,000+470,000-60,000=530000)
The following information is taken from the production budget for the first quarter:
Beginning inventory in units:
800
Sales budgeted for the quarter: 456000
Capacity in units of production facility: 502000
How many finished goods units should be produced during the quarter if the company desires
2800 units available to start the next quarter? - 458,000
Desires - Beginning Inventory = x
x + sales budget for the quarter =
2,800-800=2,000
456,000+2,000=458,000
, Oriole Company required production for June is 232000 units. To make one unit of finished
product, three pounds of direct material Z are required. Actual beginning and desired ending
inventories of direct material Z are 400000 and 420000 pounds, respectively. How many pounds
of direct material Z must be - Units to be Produced => 232,000
x Direct Materials per Unit => 3
= Total Pounds Needed for Production => 696,000
+ Desired Ending Inventory => 420,000
= Total Material Required => 1,116,000
- Beginning Direct Materials => 400,000
= Direct Material Purchases => 716,000
The following information was taken from Crane Company's cash budget for the month of July:
Beginning cash balance: $380000
Cash receipts: 204000
Cash disbursements: 444000
If the company has a policy of maintaining a minimum end of the month cash balance of
$300000, the amount the company would have to borrow is - 160,000
380,000+204,000=584,000
584,000-444,000=140,000
300,000-140,000=160,000
Vaughn Manufacturing reported the following information for 2016:
Budgeted purchases:
If there were 60000 pounds of raw materials on hand on January 1, 120000 pounds are desired
for inventory at January 31, and 470000 pounds are required for January production, how many
pounds of raw materials should be purchased in January? - 530,000 pounds
(120,000+470,000-60,000=530000)
The following information is taken from the production budget for the first quarter:
Beginning inventory in units:
800
Sales budgeted for the quarter: 456000
Capacity in units of production facility: 502000
How many finished goods units should be produced during the quarter if the company desires
2800 units available to start the next quarter? - 458,000
Desires - Beginning Inventory = x
x + sales budget for the quarter =
2,800-800=2,000
456,000+2,000=458,000
, Oriole Company required production for June is 232000 units. To make one unit of finished
product, three pounds of direct material Z are required. Actual beginning and desired ending
inventories of direct material Z are 400000 and 420000 pounds, respectively. How many pounds
of direct material Z must be - Units to be Produced => 232,000
x Direct Materials per Unit => 3
= Total Pounds Needed for Production => 696,000
+ Desired Ending Inventory => 420,000
= Total Material Required => 1,116,000
- Beginning Direct Materials => 400,000
= Direct Material Purchases => 716,000
The following information was taken from Crane Company's cash budget for the month of July:
Beginning cash balance: $380000
Cash receipts: 204000
Cash disbursements: 444000
If the company has a policy of maintaining a minimum end of the month cash balance of
$300000, the amount the company would have to borrow is - 160,000
380,000+204,000=584,000
584,000-444,000=140,000
300,000-140,000=160,000
Vaughn Manufacturing reported the following information for 2016:
Budgeted purchases:
