Reference no: EM132975065
Question - Amanda Rose., is preparing a forecast of inventory for the bank. Amanda has to prepare the three-month projection for July, August, and September, and has gathered the following information:
Projected unit sales: June - 112,000; July - 150,000; August - 137,000; September - 136,000
Production in units: July - 148,700; August - 136,900; September - 136,400
Direct material cost per unit is $105.00. Direct materials are immediately used in production when received. Direct labour cost per unit is $56.00. Indirect costs are 26% of direct labour.
Opening inventory on July 1 consisted of 15,000 units.
The bank has agreed to loan the company up to 80% of the inventory balance outstanding. At the end of September, what is the maximum amount available to borrow from the bank under this agreement?
a) $70,224
b) $1,803,200
c) $1,966,272
d) $2,457,840
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