Question

Jackson Inc. produces leather handbags. The production budget for the next four months is: July 5,000...

Jackson Inc. produces leather handbags. The production budget for the next four months is: July 5,000 units, August 7,000, September 7,500, October 8,000. Each handbag requires 0.5 square meters of leather. Jackson Inc.'s leather inventory policy is 30% of next month's production needs. On July 1 leather inventory was expected to be 1,000 square meters. What will leather purchases be in August?

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Direct Material Budget

July

August

September

October

Budgeted Production (unis)

5000

7000

7500

8000

Units of Raw material needed per unit (in square meters)

0.5

0.5

0.5

0.5

Units of raw material needed to meet production (in meters)

2500

3500

3750

4000

Budgeted Ending Inventory (In meters)

1050

1125

1200

6000

Total Units of raw material needed (In meters)

3550

4625

4950

10000

Less: Beginning Inventory (In meters)

1000

1050

1125

1200

Units of raw material to be purchased (in meters of leather)

2550

3575

3825

8800

leather purchases be in August =3375 Meters

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Jared Inc. produces leather handbags. The sales budget for the next four months is: July 5,600...
Jared Inc. produces leather handbags. The sales budget for the next four months is: July 5,600 units, August 7,400, September 8,800, October 8,300. Each handbag requires 0.5 square meters of leather. Jared Inc.’s finished goods inventory policy is 10% of next month’s sales needs. Jared Inc.’s leather inventory policy is 35% of next month’s production needs. What will leather purchases be in August? Multiple Choice 3,789 square meters 3,712 square meters 3,982 square meters 3,687 square meters
Jared Inc. produces leather handbags. The sales budget for the next four months is: July 5,400...
Jared Inc. produces leather handbags. The sales budget for the next four months is: July 5,400 units, August 7,200, September 8,400, October 8,600. Each handbag requires 0.5 square meters of leather. Jared Inc.’s finished goods inventory policy is 10% of next month’s sales needs. Jared Inc.’s leather inventory policy is 30% of next month’s production needs. What will leather purchases be in August? 3,733 square meters 3,825 square meters 3,675 square meters 3,650 square meters
Deacon Inc. produces leather handbags. The production budget for the next four months is: July 5,840...
Deacon Inc. produces leather handbags. The production budget for the next four months is: July 5,840 units, August 6,810, September 7,300, October 8,530. Each handbag requires 0.4 square meters of leather. Deacon Inc.’s leather inventory policy is 25% of next month’s production needs. If the leather policy is met, what will the July 31 inventory be?
Deacon Inc. produces leather handbags. The production budget for the next four months is: July 5,350...
Deacon Inc. produces leather handbags. The production budget for the next four months is: July 5,350 units, August 6,940, September 7,950, October 8,080. Each handbag requires 0.4 square meters of leather. Deacon Inc.’s leather inventory policy is 45% of next month’s production needs. If the leather policy is met, what will the July 31 inventory be?
Kawards & Layyers Inc. produces leather handbags. The production budget for the next four months is:...
Kawards & Layyers Inc. produces leather handbags. The production budget for the next four months is: July 5900 units, August 7200, September 8100, October 85oo Each handbag requires o.5 square meters of leather. Kaward & Layyers's leather inventory policy is 20% of next month's production needs If the leather policy is met, what will the July 1 inventory be? Select one: a. 1665.o square meters b.720.0 square meters C 140.0 square meters d. 590.o square meters
Sander Co. has budgeted sales in units for the next four months as follows: July                        7,000 units...
Sander Co. has budgeted sales in units for the next four months as follows: July                        7,000 units August                   7,200 units September             8,000 units October                 7,900 units Past experience has shown that the ending inventory for each month should be equal to 15% of the next month's sales in units.  The company needs to prepare a production budget for the next four months. The beginning inventory for September should be: a. 1,080 units b. 1,200 units c. 1,185 units d. 1,170 units
Maple Inc. produces wooden boxes. The production budget for the next four months is: July 15,600...
Maple Inc. produces wooden boxes. The production budget for the next four months is: July 15,600 units, August 17,300, September 17,800. Each box requires three skill levels: 1.1 hours of unskilled labor (paid $11 per hour), 1.6 hours of semi-skilled labor (paid $11) and 1.8 hours of skilled labor (paid $14 per hour). Required: Prepare a labor budget for the three months July – September. Provide the labor requirements according to skill level in hours and in labor cost as...
Direct Materials Purchases Budget Langer Company produces plastic items, including plastic housings for humidifiers. Each housing...
Direct Materials Purchases Budget Langer Company produces plastic items, including plastic housings for humidifiers. Each housing requires about 19 ounces of plastic costing $0.16 per ounce. Langer molds the plastic into the proper shape. Langer has budgeted production of the housings for the next 4 months as follows: Units July 3,500 August 4,400 September 4,900 October 6,300 Inventory policy requires that sufficient plastic be in ending monthly inventory to satisfy 30% of the following month's production needs. The inventory of...
Production Budget and Direct Materials Purchases Budget Jani Subramanian, owner of Jani's Flowers and Gifts, produces...
Production Budget and Direct Materials Purchases Budget Jani Subramanian, owner of Jani's Flowers and Gifts, produces gift baskets for various special occasions. Each gift basket includes fruit or assorted small gifts (e.g., a coffee mug, deck of cards, novelty cocoa mixes, scented soap) in a basket that is wrapped in colorful cellophane. Jani has estimated the following unit sales of the standard gift basket for the rest of the year and for January of next year. September 250 October 200...
Sly Fox & Co produces Model X Cheeeters. The production budget for the next four months...
Sly Fox & Co produces Model X Cheeeters. The production budget for the next four months is: July 530o units, August 7200, September 7800, October 8700. Each Model X requires 1.6 hours of unskilled labor (paid $10 per hour) and 2.6 hours of skilled labor (paid $19 per hour). How many unskilled labor hours and skilled labor hours will be budgeted for August? Select one a. 7200 b. 18,720 C 11,520 d. 30,240
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT