Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Accounting Basics Expert

Greener Grass Fertilizer Company plans to sell 260,000 units of finished product in July and anticipates a growth rate in sales of 5 percent per month. The desired monthly ending inventory in units of finished product is 80 percent of the next month's estimated sales. There are 208,000 finished units in inventory on June 30. Each unit of finished product requires 3 pounds of raw material at a cost of $2.05 per pound. There are 880,000 pounds of raw material in inventory on June 30.

Required:

1. Compute the company's total required production in units of finished product for the entire three month period ending September 30. (Do not round intermediate calculations. Round your final answer to the nearest unit.)

2. Independent of your answer to part (1), assume the company plans to produce 700,000 units of finished product in the three-month period ending September 30, and to have raw-material inventory on hand at the end of the three-month period equal to 25 percent of the use in that period. Compute the total estimated cost of raw-material purchases for the entire three-month period ending September 30.

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M947586

Have any Question? 


Related Questions in Accounting Basics

Mcreath corporation is a leading producer of fresh frozen

McReath Corporation is a leading producer of fresh, frozen, and made from concentrate citrus drinks. The firm was founded in 1922 by Charles McReath, an army veteran who settled in Jacksonville, Florida, after World War ...

Problem -firm has consulted with investment bankers and

Problem - Firm has consulted with investment bankers and determined the interest rate it would pay for different capital structures, as shown below. Data for the risk-free rate, the market risk premium, an estimate of fi ...

The company uses a periodic inventory system for specific

The Company uses a periodic inventory system. For specific identification, ending inventory consists of 375 units, where 190 are from the January 30 purchase, 80 are from the January 20 purchase, and 105 are from beginni ...

Guidelines for literature critiquesstudents are require to

Guidelines for Literature Critiques Students are require to read and understand assigned article. Students must submit a critique of assigned academic article. Please follow the format to complete your assignment. Detail ...

Auditing and professional practice assignmentcase study 1

Auditing and Professional Practice Assignment Case Study 1: Consider each of the following independent situations: (a) City Ltd, a property developer, has several major projects in progress in Brisbane's central business ...

Niagular corp just reported a net income of 8500000 amp its

Niagular Corp. just reported a net income of $8,500,000 & its current stock price is $25.75 per share. Niagular Corp. is forecasting an increase of 25% for its net income next year, but it also expects it will have to is ...

Taskas part of the planning process for your new accounting

TASK As part of the planning process for your new accounting information system, your manager has asked that you prepare flowcharts. This graphic presents the flow of information through the accounting cycles. • Using th ...

On december 31 2017 buffalo company signed a 1137500 note

On December 31, 2017, Buffalo Company signed a $1,137,500 note to Carla Bank. The market interest rate at that time was 12%. The stated interest rate on the note was 10%, payable annually. The note matures in 5 years. Un ...

Internal control procedures are required for all

Internal control procedures are required for all transaction cycles within an accounting cycle. This week you are addressing the control procedures that would be the most effective in the general ledger and reporting sys ...

Case title the website launchyour company meddevice inc has

Case Title: The Website Launch Your Company, MedDevice, Inc., has just received FDA 510(k) clearance of its new, cutting edge medical device which paves the way for the official product launch in a few short months. Your ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro