The production department of zan corporation has submitted

Assignment Help Accounting Basics

Reference no: EM13590028

The production department of Zan Corporation has submitted the following forecast of units to be produced by quarter for the upcoming fiscal year: 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Units to be produced 12,000 15,000 14,000 13,000 In addition, 15,000 grams of raw materials inventory is on hand at the start of the 1st Quarter and the beginning accounts payable for the 1st Quarter is $6,200. Each unit requires 5 grams of raw material that costs $1.80 per gram. Management desires to end each quarter with an inventory of raw materials equal to 25% of the following quarters production needs. The desired ending inventory for the 4th Quarter is 5,000 grams. Management plans to pay for 60% of raw material purchases in the quarter acquired and 40% in the following quarter. Each unit requires 0.40 direct labor-hours and direct laborers are paid $13.50 per hour.

1.) Prepare a schedule of expected cash disbursements for purchases of materials for the upcoming fiscal year.

2.) Prepare the company's direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced. (Round "Direct labor-hours per unit" and "Direct labor cost per hour" answers to 2 decimal places.)

Reference no: EM13590028

Questions Cloud

Which of the managers most frequently use as a system to : which of the managers most frequently use as a system to identify deviations in conjunction with the variance analysis

A fisherman in a small boat starts at the point 80 60 and : near a boy the depth of a lake at the point with coordinates x y is z 200 0.02x2 - 0.001y2 where x y and z are

Tao co receives 10000 cash in advance for 4 months of legal : tao co. receives 10000 cash in advance for 4 months of legal services on october 1 2013 and records it by debiting cash

Discuss with your team dq 4 in your lt forum and submit the : discuss with your team dq 4 in your lt forum and submit the final lt response by saturday under this thread. responses

The production department of zan corporation has submitted : the production department of zan corporation has submitted the following forecast of units to be produced by quarter

At a certain moment car a is 03 km from the intersection : car a is traveling north on highway 16 and car b is traveling west on highway 83. each car is approaching the

What are the factors that are causing many companies to : what are the factors that are causing many companies to refine their costing systems to obtain more accurate measures

A machine is purchased by making payments of 6000 at the : a machine is purchased by making payments of 6000 at the beginning of each of the next five years. the interest rate

Scientists estimate that the average temperature is rising : question wheat production in a given year w depends on the average temperature t and the annual rainfall r. scientists

User Account

All Pages