Tucker Company makes chairs. Tucker has the following production budget for January - March. January February March Units Produced 9,771 12,652 9,593 Each chair produced uses 3 board feet of wood. Management wants ending inventory levels of raw materials to equal 20% of the production needs (in wood) for the next month. How many board feet of wood does Tucker need to purchase in February? Round your answer to the nearest whole number. Don't round any intermediate calculations.

Tucker Company makes chairs. Tucker has the following production budget for January - March. January February March Units Produced 9,771 12,652 9,593 Each chair produced uses 3 board feet of wood. Management wants ending inventory levels of raw materials to equal 20% of the production needs (in wood) for the next month. How many board feet of wood does Tucker need to purchase in February? Round your answer to the nearest whole number. Don't round any intermediate calculations.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Movers Company manufactures sneakers. Production of their new sneaker for the coming three months is budgeted as follows: August 28,000 September 50,000 October 33,000 Each sneaker requires 2.5 hours of direct labor time. Direct labor wages average $16 per hour. Monthly variable overhead averages $10 per direct labor hour plus fixed overhead of $4,500. What is the total overhead budgeted for the month of September? Group of answer choices $6,800,000 $1,254,500 $142,100 $460,000 $362,100
Chow Corporation manufactures children's chairs made of PVC plastic tubing and heavy canvas material. Each chair requires eight feet of PVC tubing and three yards of material (heavy canvas fabric) Budgeted sales are 20,000 chairs for June, 25,000 chairs for July, and 30,000 chairs for August. Ending finished goods inventory (completed chairs) is budgeted at 10% of the current month's sales. Ending materials inventories ( PVC plastic tubing and heavy canvas/fabric material) are budgeted at 10% of the current month's production. Prepare (TWO) schedules: (1) purchase requirements for PVC tubing and (2) materials (heavy canvas fabric) required for each of June, July, and August. Assume 16,000 feet of PVC tubing and 6,000 yards of material are on hand at the beginning of June.
MCO Leather manufactures leather purses. Each purse requires 2 pounds of direct materials at a cost of $4 per pound and 0.7 direct labor hour at a rate of $18 per hour. Variable overhead is budgeted at a rate of $2 per direct labor hour. Budgeted fixed overhead is $18,000 per month. The company's policy is to end each month with direct materials inventory equal to 20% of the next month's direct materials requirement. At the end of August the company had 1,880 pounds of direct materials in inventory. The company's production budget reports the following. Production Budget September October November Units to produce 4,700 7,100 6,200 (1) Prepare direct materials budgets for September and October. (2) Prepare direct labor budgets for September and October. (3) Prepare factory overhead budgets for September and October. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare direct labor budgets for September and October. (Round "DL hours…
21.
Shadee Corporation expects to sell 550 sun shades in May and 430 in June. Each shade sells for $146. Shadee's beginning and ending finished goods inventories for May are 85 and 60 shades, respectively. Ending finished goods inventory for June will be 55 shades. E8-8 (Algo) Preparing Cost of Goods Sold Budget [LO 8-3f] Each shade requires a total of $50.00 in direct materials that includes 4 adjustable poles that cost $10.00 each. Shadee expects to have 130 in direct materials inventory on May 1, 80 poles in inventory on May 31, and 110 poles in inventory on June 30. Suppose that each shade takes three direct labor hour to produce and Shadee pays its workers $14 per hour. Additionally, Shadee's fixed manufacturing overhead is $10,000 per month, and variable manufacturing overhead is $15 per unit produced. Use the information and solutions presented to complete the requirements. Required: 1. Determine Shadee's budgeted manufacturing cost per shade. (Note: Assume that fixed overhead per…
Help me please asap. Don't use any AI or old answers from any sites. Thank you
PLEASE ANSWER WITH A STEP BY STEP SOLUTION
sanjay
MCO Leather manufactures leather purses. Each purse requires 2 pounds of direct materials at a cost of $3 per pound and 0.7 direct labor hour at a rate of $12 per hour. Variable overhead is budgeted at a rate of $2 per direct labor hour. Budgeted fixed overhead is $11,000 per month. The company's policy is to end each month with direct materials Inventory equal to 30% of the next month's direct materials requirement. At the end of August the company had 2,580 pounds of direct materials in Inventory. The company's production budget reports the following. Production Budget Units to produce Required 1 (1) Prepare direct materials budgets for September and October. (2) Prepare direct labor budgets for September and October. (3) Prepare factory overhead budgets for September and October. September 4,300 Complete this question by entering your answers in the tabs below. Units to produce October 6,800 Required 2 Required 3 Prepare direct labor budgets for September and October. (Round "DL…
Your Snow Removal's cost formula for its vehicle operating cost is $1,750 per month plus $484 per snow-day. For the month of November, the company planned for activity of 15 snow-days, but the actual level of activity was 14 snow-days. The actual vehicle operating cost for the month was $8,360. The vehicle total operating cost in the flexible budget for November would be closest to:
Aaron's chairs is in the process of preparing a production costbudget for August. Actual costs in July for 120 chairs were:Materials cost $4,730Labor cost 2,940Rent 1,500Depreciation 2,500Other fixed costs 3,200Materials and labor are the only variable costs. If productionand sales are budgeted to change to 120 chairs in August,how much is the expected total variable cost on the Augustbudget?
Galactic Incorporated manufactures flying drone toys. Sales units for January, February, March, April, and May were 380, 360, 432, 392, and 460 respectively. The company' s policy for ending finished goods is 25 percent of next month's sales. Determine production budget for the first quarter. The drone toy includes 2 LED lights, which cost $15 each. The company requires ending direct materials to be 20 percent of next month's materials requirement. Determine direct materials purchases budget with respect to LED lights for the first quarter.