March April May June 11,000 13,000 10,500 9,000 Wright maintains an ending inventory for each month in the amount of three times the expected sales in the following month. The ending inventory for February (March's beginning inventory) reflects this policy. Materials cost $8 per unit and are paid for in the month after production. Labor cost is $12 per unit and is paid for in the month incurred. Fixed overhead is $14,500 per month. Dividends of $20,500 are to be paid in May. The firm produced 10,000 units in February. Complete a production schedule and a summary of cash payments for March, April, and May. Remember that production in any one month is equal to sales plus desired ending inventory minus beginning inventory. Note: Input all amounts as positive values except Beginning inventory values under Production Schedule which should be entered vith a minus sign. Leave no cells blank be certain to enter O wherever required. Projected unit sales Desired ending inventory Total units required Beginning inventory Units to be produced Units produced Material cost Labor cost Fixed overhead Wright Lighting Fixtures Production Schedule March April 0 February 0 Cash Payments March 0 0 May April 0 0 June May

March April May June 11,000 13,000 10,500 9,000 Wright maintains an ending inventory for each month in the amount of three times the expected sales in the following month. The ending inventory for February (March's beginning inventory) reflects this policy. Materials cost $8 per unit and are paid for in the month after production. Labor cost is $12 per unit and is paid for in the month incurred. Fixed overhead is $14,500 per month. Dividends of $20,500 are to be paid in May. The firm produced 10,000 units in February. Complete a production schedule and a summary of cash payments for March, April, and May. Remember that production in any one month is equal to sales plus desired ending inventory minus beginning inventory. Note: Input all amounts as positive values except Beginning inventory values under Production Schedule which should be entered vith a minus sign. Leave no cells blank be certain to enter O wherever required. Projected unit sales Desired ending inventory Total units required Beginning inventory Units to be produced Units produced Material cost Labor cost Fixed overhead Wright Lighting Fixtures Production Schedule March April 0 February 0 Cash Payments March 0 0 May April 0 0 June May

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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