The following information is located in the production department of Mindy Co First Quarter 14,300 Second Quarter 21,000 Third Quarter Fourth Quarter 22,500 21.300 Units produced Other information found in the production department includes: Prior Year Ending RM Inventory Prior Year Ending A/P Pounds of RM per unit S 10,725 11,775 The ending raw material inventory per month should be 25% of the following month's production needs. The desired ending inventory for the fourth quarter is 3,700 pounds. Management plans to pay for 70% of the raw material purchases in the month bought and 30% in the following month.

The following information is located in the production department of Mindy Co First Quarter 14,300 Second Quarter 21,000 Third Quarter Fourth Quarter 22,500 21.300 Units produced Other information found in the production department includes: Prior Year Ending RM Inventory Prior Year Ending A/P Pounds of RM per unit S 10,725 11,775 The ending raw material inventory per month should be 25% of the following month's production needs. The desired ending inventory for the fourth quarter is 3,700 pounds. Management plans to pay for 70% of the raw material purchases in the month bought and 30% in the following month.

Name: The following information is located in the production department of
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Description: The following information is located in the production department of Mindy CaSecondFirstQuarter14,300Quarter Third Quarter Fourth Quarter21,00022,50021,300Units producedOther information found in the production department includes:Prior Year Ending

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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