Calculate the ending inventory of boxes for December

Assignment Help Accounting Basics
Reference no: EM132873342

Problem - Tulum Inc. makes a Mexican chocolate mix sold in 4-pound boxes. Planned production in units for the first 3 months of the coming year is: Each box requires 4.2 pounds of chocolate mix and one box. Company policy requires that ending inventories of raw materials for each month be 10% of the next month's production needs. That policy was met for the ending inventory of December in the prior year. The cost of 1 pound of chocolate mix is $1.50. The cost of one box is $0.10.

Required - Calculate the ending inventory of boxes for December of the prior year and for January and February.

Reference no: EM132873342

Questions Cloud

What amount of resources owned by nordstrom is reported : What amount of resources owned by Nordstrom is reported in its financial statements? How can you tell? Both a number and an indication as
Calculate the ending inventory of chocolate mix in pounds : Calculate the ending inventory of chocolate mix in pounds for December of the prior year and for January and February
Prepare direct materials purchases budget for chocolate mix : The cost of one box is $0.10. Prepare a direct materials purchases budget for chocolate mix for the months of January and February
Calculate basic earnings per share of common stock for year : Ringmeup Inc. had net income of $101,000 for the year ended December. Calculate basic earnings per share of common stock for the year ended December 31, 2019.
Calculate the ending inventory of boxes for December : Tulum Inc. makes a Mexican chocolate mix sold in 4-pound boxes. Calculate the ending inventory of boxes for December
What is the forward price you negotiated at the beginning : The continuously compounded interest rate is 10% per annum. What is the forward price you negotiated at the beginning of the contract?
How does the adjusting entry recorded at december : Wiil Company made an adjusting entry to account, How does the adjusting entry recorded at December 31 by Wiil Company affect the elements of the balance sheet?
Prepare a direct materials purchases budget for boxes : The cost of 1 pound of chocolate mix is $1.50. The cost of one box is $0.10. Prepare a direct materials purchases budget for boxes
What the pension expense to be reported is : What the pension expense to be reported for 2020 is? Presented is pension information related to Banana Inc. for the calendar year 2020.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd