Januarys beginning materials inventory is 2140 kg suppose

Reference no: EM13566669

The controller of Harrington Company estimates sales and production for the first four months of 2012 as follows:

	January	February	March	April
Sales	$30,500	$41,800	$53,100	$25,200
Production in units	1,070	1,630	2,140	2,650

Sales are 40% cash and 60% on account, and 60% of credit sales are collected in the month of the sale. In the month after the sale, 40% of credit sales are collected. It takes 5 kg of direct material to produce a finished unit, and direct materials cost $4 per kg. All direct materials purchases are on account, and are paid as follows: 40% in the month of the purchase, 60% the following month. Ending direct materials inventory for each month is 40% of the next month's production needs.

January's beginning materials inventory is 2,140 kg. Suppose that both accounts receivable and accounts payable are zero at the beginning of January.

Reference no: EM13566669

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