Prepare bates & hill direct materials purchases budget

Assignment Help Accounting Basics
Reference no: EM132106815

Question - Marcy Jones, Bates & Hill Fabricators' purchasing manager, has just received the company's production budget for the first quarter.


January

February

March

Quarter

Budgeted Production

11,257

22,727

20,225

54,209

Aaron Bates, the company's vice president of marketing and has prepared the following sales forecast for the first six months of the coming year.

January

February

March

April

May

June

11,800

23,010

20,650

17,110

13,570

12,800

Company policy requires an ending finished goods inventory each month that will meet 12% of the following month's sales volume.

Each brick requires 3 pounds of clay, and Marcy expects to pay $0.24 per pound of clay in the coming year. Company policy requires an ending direct materials inventory each month that will meet 6% of the following month's production needs. Marcy expects to have 11,151 pounds of clay at a cost of $4,460 in inventory at the beginning of the year.

Prepare Bates & Hill's direct materials purchases budget for the first quarter.

Reference no: EM132106815

Questions Cloud

What is the net income for attila inc : Attila Inc. makes skis. For the month of January they believe they will sell 1,000 pairs of skis. What is the Net Income for Attila Inc
Describe the concept in layman terms : Discussion on how virtualizing the desktop and now backend infrastructure are complementary and related. Use additional sources of information.
Identify and clarify the issue or problem : Develop at least three alternative solutions or ways to address the issue or problem, using knowledge and skills which you have gained.
Define what is threat modeling : In your own words explain (a) what is threat modeling, and (b) why it is important for an enterprise to address threat modeling extensively.
Prepare bates & hill direct materials purchases budget : Each brick requires 3 pounds of clay, & Marcy expects to pay $0.24 per pound of clay in coming year. Prepare Bates & Hill's direct materials purchases budget
Describe the range of public to private funding sources : Describe the range of public to private funding sources. Provide examples of how sports organizations have used the various methods to fund new venues
How a risk assessment methodology process can be used : Using the resource link below and others research how a risk assessment methodology process can be used to assess risk at a maximum security facility.
Discuss the advantages of working for each gender : During the course of your employment you may have experienced working for both a male and female supervisor. Discuss from your personal point.
Find the price of assembly costs : For cost accounting, how do you calculate activity based costing if you are trying to find the price of assembly costs?

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