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Lovely Manufacturing has scheduled production as follows for the next several months: Months Production January 1,000 February 1,200 March 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. 34. The desired ending inventory of raw materials in pounds for February is: a. 350 b. 200 c. 1,400 d. 500 35. The pounds of raw materials purchased during January is: a. 1.000 b. 2,000 c. 2,100 d. 2.600 36. The pounds of raw materials used for February production is a. 2.400 b. 2,500 c. 3,000 d. 3,100

Lovely Manufacturing has scheduled production as follows for the next several months: Months Production January 1,000 February 1,200 March 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. 34. The desired ending inventory of raw materials in pounds for February is: a. 350 b. 200 c. 1,400 d. 500 35. The pounds of raw materials purchased during January is: a. 1.000 b. 2,000 c. 2,100 d. 2.600 36. The pounds of raw materials used for February production is a. 2.400 b. 2,500 c. 3,000 d. 3,100

FINANCIAL ACCOUNTING
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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Lovely Manufacturing has scheduled
production as follows for the next several months:
Months Production
January 1,000
February 1,200
March 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.

34. The desired ending inventory of raw materials in pounds for February is:
a. 350
b. 200
c. 1,400
d. 500
35. The pounds of raw materials purchased during January is:
a. 1.000
b. 2,000
c. 2,100
d. 2.600
36. The pounds of raw materials used for February production is
a. 2.400
b. 2,500
c. 3,000
d. 3,100

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