Shalom Company prepared its production plan for each quarter of 2023: Units 24,000 Quarter 1 2 3 4 42,000 Five units of materials are needed to produce each unit of product. Each unit of material costs PO.60. Shalom Company wants to maintain ending inventory at 25% of production requirements for the next quarter. Total materials needed for production of 28,000 units in the first quarter of 2024 is estimated at 35,000 units of materials. 60% of the total purchases of each quarter are estimated to be paid during the quarter while the balance will be paid in the next quarter. Accounts payable at the beginning of quarter 1 is P38,400. Amounts must be in whole numbers. Example: 88,000 or (88,000) 30,000 32,000 How much is the balance of the accounts payable at the end of quarter 3?

Shalom Company prepared its production plan for each quarter of 2023: Units 24,000 Quarter 1 2 3 4 42,000 Five units of materials are needed to produce each unit of product. Each unit of material costs PO.60. Shalom Company wants to maintain ending inventory at 25% of production requirements for the next quarter. Total materials needed for production of 28,000 units in the first quarter of 2024 is estimated at 35,000 units of materials. 60% of the total purchases of each quarter are estimated to be paid during the quarter while the balance will be paid in the next quarter. Accounts payable at the beginning of quarter 1 is P38,400. Amounts must be in whole numbers. Example: 88,000 or (88,000) 30,000 32,000 How much is the balance of the accounts payable at the end of quarter 3?

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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