A. Compute the total targeted production of the finished product for the coming year. B. Compute the required amount of plastic to be purchased for the coming year. **The Casings Plant of Wyoming Machines - Production and Material Requirements**The Casings Plant of Wyoming Machines manufactures plastic shells for the company's calculators. Each calculator requires one shell. For the next two years, Wyoming Machines anticipates selling 160,000 calculators annually. The beginning inventory of finished goods consists of 20,000 units, while the target ending inventory for each year is set at 5,000 units.Each shell requires 6 ounces of plastic. At the start of the year, the plant has 60,000 ounces of plastic in stock. Management aims to maintain a plastic inventory sufficient for two months of sales needs. Sales and production activities are distributed evenly throughout the year.**Tasks:**a. Calculate the total targeted production of finished products for the coming year.b. Calculate the required amount of plastic to be procured for the coming year. (Note: Do not round intermediate calculations.)**Table for Required Calculations:**| a. | Total targeted production in units | ___ || b. | Materials to be purchased in ounces | ___ |This information helps in strategic planning and resource management for the upcoming year.

Total targeted production: = Total sales + desired ending inventory - beginning inventory Material…

The Casings Plant of Wyoming Machines makes plastics shells for the company's calculators. (Each calculator requires one shell) For each of the next two years, Wyoming expects to sell 160,000 calculators. The beginning finished goods inventory of shells at the Casings Plant is 20,000 units. However, the target ending finished goods inventory for each year is 5,000 units. Each unit (shell) requires 6 ounces of plastic. At the beginning of the year, 60,000 ounces of plastic are in inventory. Management has set a target to have plastic on hand equal to two months' sales requirements. Sales and production take place evenly throughout the year. Required: a. Compute the total targeted production of the finished product for the coming year. b. Compute the required amount of plastic to be purchased for the coming year. (Do not round intermediate calculations.) a. Total targeted production in units b. Materials to be purchased in ounces

The Casings Plant of Wyoming Machines makes plastics shells for the company's calculators. (Each calculator requires one shell) For each of the next two years, Wyoming expects to sell 160,000 calculators. The beginning finished goods inventory of shells at the Casings Plant is 20,000 units. However, the target ending finished goods inventory for each year is 5,000 units. Each unit (shell) requires 6 ounces of plastic. At the beginning of the year, 60,000 ounces of plastic are in inventory. Management has set a target to have plastic on hand equal to two months' sales requirements. Sales and production take place evenly throughout the year. Required: a. Compute the total targeted production of the finished product for the coming year. b. Compute the required amount of plastic to be purchased for the coming year. (Do not round intermediate calculations.) a. Total targeted production in units b. Materials to be purchased in ounces

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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