1) ABC Company manufactures wooden shelving units for collecting and sorting mail. The company expects...
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Accounting
1) ABC Company manufactures wooden shelving units for collecting and sorting mail. The company expects to produce 430 units in July and 700 units in August. Each unit requires 7 feet of wood at a cost of $1.4 per foot. Preston wants to always have 20% of the next months required feet of wood on hand in materials inventory. What is ABC Company's raw materials purchases budget for July?
2) Smith Corp. expects to sell 1,030 units of its pet beds in March and 1,980 units in April. Each unit sells for $79. Garfields ending inventory policy is 30 percent of the following months sales. Smith pays its supplier $25 per unit. What is Smith's budgeted purchases for March?
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