Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 15. the abc company produces and sells widgets. on

15. The ABC Company produces and sells widgets. On January 1, 2017, ABC plans to...

60.1K

Verified Solution

Question

Accounting

15. The ABC Company produces and sells widgets. On January 1, 2017, ABC plans to have 1,000 widgets in inventory. During 2017, they plan to sell 20,000 widgets and on December 31, 2016 they plan to have 3,000 widgets in inventory.

It takes 3 pounds of plastic to make one widget. On January 1, 2017, the company plans to have 4,000 pounds of plastic in inventory. On December 31, 2017, they plan to have 7,000 pounds of plastic in inventory. Presently, the company has no completed widgets, no WIP and no plastic.

How many pounds of plastic will ABC need to purchase during 2017?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

E Fu Your Answer H Given mGH 56 degrees and mEF 95 Find m J...

Geometry
Q

A random sample of 42 taxpayers claimed an average of ​$9,857 in medical expenses for the...

Statistics
Q

Let B and y be the standard ordered bases for R n and Rn respectively...

Calculus
Q

Let W be a subspace of R4 spanned by the setQ = {(1,-1, 3, 1),...

Algebra
Q

For purposes of allocating joint costs to joint products, the estimated net realizable value at...

Accounting
Q

Use the following information to prepare a 2023 Form 1040 for Andrea Hopkins. ...

Accounting
Q

This information was provided by Tamla Company for August 2020. $275,000 55,000 935,000 $302,500 110,000...

Accounting
Q

Exercise 14-7 Bonita Company sells 8% bonds having a maturity value of S 1,500,000 for...

Accounting
Q

Some financial experts argue that pro-forma financial statements are not as accurate, or can even...

Accounting
Q

On December 31, 2025, Crane Company signed a $1,067,100 note to Cheyenne Bank. The market...

Accounting
Q

which of the following is NOT true about closing entries? a. there are four closing...

Accounting
Q

In the model of adverse selection, how is the bid-ask spread determined in a dealer...

Finance