A company is working on their budgets for the year 2021. They produce two unique products: Degreaser and Polish. The Degreaser has two Raw Materials: soap and baking soda. The Polish also has two Raw Materials: ketchup and salt. The table below has a few of their expectations for 2021. Expected Finished Goods to produce in 2021 Raw Materials used in production of one unit of Degreaser Raw Materials used in production of one unit of Polish Estimated beginning quantities of Raw Materials Inventory Desired ending quantities of Raw Materials Inventory Degreaser: 8,345 units Polish: 34,719 units Desired ending quantities of Finished Goods Inventory Soap: 4.4 oz at $0.523 per oz Baking Soda: 7.9 oz at $0.351 per oz Estimated beginning quantities of Finished Goods Inventory Ketchup: 1.1 oz at $0.548 per oz Salt: 7.6 oz at $0.408 per oz Soap: 1,235.1 oz Baking Soda: 2,757.2 oz Ketchup: 34,713.6 oz Salt: 49,121.8 oz Soap: 1,491.8 oz Baking Soda: 2,816.7 oz Ketchup: 36,626.2 oz Salt: 48,626.9 oz Degreaser: 10,114 units Polish: 20,679 units Degreaser: 10,349 units Polish: 24,086 units What is the dollar value of budgeted salt purchases? (Round your calculations to a level that makes sense for the situation. Enter your final answer

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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A company is working on their budgets for the year 2021. They produce two unique
products: Degreaser and Polish. The Degreaser has two Raw Materials: soap and
baking soda. The Polish also has two Raw Materials: ketchup and salt.
The table below has a few of their expectations for 2021.
Expected Finished Goods to
produce in 2021
Raw Materials used in
production of one unit of
Degreaser
Raw Materials used in
production of one unit of
Polish
Estimated beginning quantities
of Raw Materials Inventory
Desired ending quantities of
Raw Materials Inventory
Degreaser: 8,345 units
Polish: 34,719 units
Desired ending quantities of
Finished Goods Inventory
Soap: 4.4 oz at $0.523 per oz
Baking Soda: 7.9 oz at $0.351 per oz
Estimated beginning quantities
of Finished Goods Inventory
Ketchup: 1.1 oz at $0.548 per oz
Salt: 7.6 oz at $0.408 per oz
Soap: 1,235.1 oz
Baking Soda: 2,757.2 oz
Ketchup: 34,713.6 oz
Salt: 49,121.8 oz
Soap: 1,491.8 oz
Baking Soda: 2,816.7 oz
Ketchup: 36,626.2 oz
Salt: 48,626.9 oz
Degreaser: 10,114 units
Polish: 20,679 units
Degreaser: 10,349 units
Polish: 24,086 units
What is the dollar value of budgeted salt purchases? (Round your calculations to a
level that makes sense for the situation. Enter your final answer to the nearest
whole dollar/input code: 0)
Transcribed Image Text:A company is working on their budgets for the year 2021. They produce two unique products: Degreaser and Polish. The Degreaser has two Raw Materials: soap and baking soda. The Polish also has two Raw Materials: ketchup and salt. The table below has a few of their expectations for 2021. Expected Finished Goods to produce in 2021 Raw Materials used in production of one unit of Degreaser Raw Materials used in production of one unit of Polish Estimated beginning quantities of Raw Materials Inventory Desired ending quantities of Raw Materials Inventory Degreaser: 8,345 units Polish: 34,719 units Desired ending quantities of Finished Goods Inventory Soap: 4.4 oz at $0.523 per oz Baking Soda: 7.9 oz at $0.351 per oz Estimated beginning quantities of Finished Goods Inventory Ketchup: 1.1 oz at $0.548 per oz Salt: 7.6 oz at $0.408 per oz Soap: 1,235.1 oz Baking Soda: 2,757.2 oz Ketchup: 34,713.6 oz Salt: 49,121.8 oz Soap: 1,491.8 oz Baking Soda: 2,816.7 oz Ketchup: 36,626.2 oz Salt: 48,626.9 oz Degreaser: 10,114 units Polish: 20,679 units Degreaser: 10,349 units Polish: 24,086 units What is the dollar value of budgeted salt purchases? (Round your calculations to a level that makes sense for the situation. Enter your final answer to the nearest whole dollar/input code: 0)
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