Give true answer If there were 40,000 pounds of rawmaterials on hand on January 1, 100,000pounds are desired for inventory atJanuary 31, and 210,000 pounds arerequired for January production, howmany pounds of raw materials should bepurchased in January?a. 270,000 pounds.b. 110,000 pounds.c. 150,000 pounds.d. 310,000 pounds.

Step 1: Introduction to the Raw MaterialsRaw materials are primary or original materials that are…

Answered: If there were 40,000 pounds of raw…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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If there were 40000 pounds of direct materials on hand on January 1, 120000 pounds are desired for inventory at January 31, and 560000 pounds are required for January production, how many pounds of direct materials should be purchased in January? a. 480000 pounds b. 680000 pounds c. 440000 pounds d. 640000 pounds
If there were 100,000 pounds of raw materials on hand on January 1, 250,000 pounds are desired for inventory at January 31, and 575,000 pounds are required for January production, how many pounds of raw materials should be purchased in January? O 425,000 pounds O 725,000 pounds 545.000 pounds O470,000 pounds
If there were 40000 pounds of direct materials on hand on January 1, 120000 pounds are desired for inventory at January 31, and 480000 pounds are required for January production, how many pounds of direct materials should be purchased in January? O560000 pounds O 600000 pounds O400000 pounds 360000 pounds
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If there were 60,000 pounds of raw materials on hand on January 1, 120,000 pounds are desired for inventory at January 31, and 412,931 pounds are required for January production, how many pounds of raw materials should be purchased in January?
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Production estimates for August for Jay Company are as follows: Estimated inventory (units), August 1 12,000 Desired inventory (units), August 31 9,000 Expected sales volume (units), August 75,000 For each unit produced, the direct materials requirements are as follows: Material A ($5 per lb.) 3.0 lbs. Material B ($18 per lb.) 0.5 lb. The number of pounds of Materials A and B required for August production is a.225,000 lbs. of A; 37,500 lbs. of B b.216,000 lbs. of A; 72,000 lbs. of B c.234,000 lbs. of A; 39,000 lbs. of B d.216,000 lbs. of A; 36,000 lbs. of B
Livingston Fabrication has created the following aggregate plan for the next five months: August September November 1,500,000 1,500,000 3,000,000 Forecasted Demand (units of finished goods): Production Plan: 2,000,000 2,000,000 a. 64 October 2,000,000 b. none c. 112 d. 224 e. 145 2,000,000 2,000,000 December 500,000 Assume that Livingston will have nothing in inventory at the end of July. Livingston employs 1,000 production assembly workers and it takes one production assembly worker 5 minutes to assemble one unit of finished good. (The unit is complete at that point.) Each production assembly worker can provide 150 hours of assembly time a month without requiring overtime pay. 2,000,000 Livingston wants to complete this plan without working any overtime in assembly. Logically, how many additional production assembly workers should Livingston hire to start in August?
Production estimates for July for Starling Co. are as follows: Estimated inventory (units), July 1 8,500 Desired inventory (units), July 31 10,500 Expected sales volume (units), July 76,000 For each unit produced, the direct materials requirements are as follows: Material A ($5 per lb.) 3.0 lbs. Material B ($18 per lb.) 0.5 lb. The number of pounds of Materials A and B required for July production is a.216,000 lbs. of A; 72,000 lbs. of B b.216,000 lbs. of A; 36,000 lbs. of B c.225,000 lbs. of A; 37,500 lbs. of B d.234,000 lbs. of A; 39,000 lbs. of B
33. Use the following information for questions 33-36: Lovely Manufacturing has scheduled production as follows for the next several months: Months Production January 1,000 February March 1,200 1,400 Assume that it takes two pounds of raw material to make one finished unit and that ending inventory of raw materials for any month is scheduled to be 25% of next month production needs. The beginning inventory of raw materials in pounds for January should be: а. 250 b. 500 с. 1,000 d. 200 34. The desired ending inventory of raw materials in pounds for February is: а. 350 b. 200 с. 1,400 d. 500 35. The pounds of raw materials purchased during January is: а. 1.000 b. 2,000 с. 2,100 d. 2.600 36. The pounds of raw materials used for February production is а. 2.400 b. 2,500 с. 3,000 d. 3,100
Production estimates for August for Jay Company are as follows: Estimated inventory (units), August 1 12,000 Desired inventory (units), August 31 9,000 Expected sales volume (units), August 75,000 For each unit produced, the direct materials requirements are as follows: Material A ($5 per lb.) 3.0 lbs. Material B ($18 per lb.) 0.5 lb. The total direct materials purchases (assuming no beginning or ending inventory of material) of Materials A and B required for August production is a. $1,080,000 for A; $648,000 for B b. $1,080,000 for A; $1,296,000 for B O Od. $1,170,000 for A; $702,000 for B C. $1,125,000 for A; $675,000 for B
ABCL Corporation predicts the following sales in units for the coming four months: May June July August September Unit sales …… 400 500 520 480 540 Finished goods inventory on April 30: 120 units Raw materials inventory on April 30: 450 pounds Desired ending inventory each month: Finished goods: 30% of next month's sales Raw materials: 25% of next month's production needs Number of pounds of raw material required per finished unit: 4 lbs. Required: How many pounds of raw materials should be purchased in May?

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