34 Fill in the BlankThe following data weregathered from the records ofAAA Company:• The total pounds needed forproduction are 2 times the unitsto be produced.• The desired ending directmaterials inventory is 20% ofthe total pounds needed forproduction .• The beginning direct materialsinventory is equal in number to10% of the units to be produced• Cost per pound is P10 .• Total cost of the directmaterials purchases are P1,610 , 000 .Questions: 1 . How manypounds are needed forproduction ?pounds2. How many units are neededto be produced ?units

Pounds purchased = Total purchase cost/ Cost per pound = 610000/P10 per pound = 61000 pounds

Answered: Questions: 1 . How many pounds are…

Business

Accounting

Questions: 1 . How many pounds are needed for production ? pounds 2. How many units are needed to be produced ? units

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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Market Efficiency

Market efficiency refers to the market's ability to provide investors with all available information about investment options for buying and selling securities. Market efficiency reflects the true value of securities without undervaluing or overvaluing them. When the quality and quantity of information increase, the market becomes more efficient, allowing it to reduce arbitrage and obtain higher market returns from investment. In a well-functioning market, everyone receives all information completely and immediately at no cost. It opens up a plethora of opportunities for investors to access various investment options.

Question

Fill in the Blank
The following data were
gathered from the records of
AAA Company:
• The total pounds needed for
production are 2 times the units
to be produced.
• The desired ending direct
materials inventory is 20% of
the total pounds needed for
production .
• The beginning direct materials
inventory is equal in number to
10% of the units to be produced
• Cost per pound is P10 .
• Total cost of the direct
materials purchases are P1,
610 , 000 .
Questions: 1 . How many
pounds are needed for
production ?
pounds
2. How many units are needed
to be produced ?
units

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Step 1 Calculation of Total number of pounds purchased:

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Step 2 Formula for pounds purchased:

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Step 3 Answer (2)Calculation of number of units to be produced:

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Step 4 Answer (1)Pounds needed for production:

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