Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. assume a company's sales budget for april and may

Assume a company's sales budget for April and May is 38,000 units and 40,000 units,...

80.2K

Verified Solution

Question

Accounting

Assume a company's sales budget for April and May is 38,000 units and 40,000 units, respectively. Its production budget for the same two months is 35,000 units and 36,000 units, respectively. Each unit of finished goods required 4 pounds of raw materials. The company always maintains raw materials inventory equal to 20% of the following months production needs.
Also assume the company pays $2.35 per pound of raw material. It always pays for 50% of its raw material purchases in the month of purchase and the remainder in the following month. The accounts payable balance on March 31st is $138,000. What would be the accounts payable balance at the end of April?
Multiple Choice
$155,440
$165,440
$170,440
$168,940
image

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: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

x 1 x 5 x 3 x 6x 5

Algebra
Q

What is the general structure and function of each of the cell structures: 1. Mitochondria - What high...

Medical Sciences
Q

Describe two ways in which proteins with RNA Recognition Motifs recognize their corresponding RNAs.

Biology
Q

After being exposed to a chemical a fruit fly with normal wings has offspring that...

Biology
Q

passage By 1900 more than 30 000 black teachers had been trained and put to...

Biology
Q

Next draw CD perpendicular to AB as shown in the next figure Label the red...

Geometry
Q

aph the solution set of the inequality where x 7 x 2

Algebra
Q

e 32 P and Q can do a piece of work in 15 days and...

Algebra
Q

Exercise 5-16 A comparative balance sheet for Bramble Corporation is presented afa follows. Assets Cash...

Accounting
Q

Please solve requirement 5, requirement 6, and requirement 7. 6 Enter the last 4...

Accounting
Q

Consider the interest of the tax authorities in financial reporting regulations. Explain why national tax...

Accounting
Q

In millions) 2019 2018 Net Sales Revenue $17,000 $15,000 Cost of Goods Sold 7,000 4,000...

Accounting