Can you explain how to calculate raw materials used in production for question b? ...
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Can you explain how to calculate raw materials used in production for question b?
4. Easy Ethanol forecasts sales of 75.000 gallons of bio-fuel will be sold in December. To make one unit of finished bio-fuel, seven pounds of corn is required. Actual beginning and desired ending inventories of of corn and finished goods are: December 31st December 1st (Desired) 86,400 9,600 (Actual) 91,400 8,500 Raw Materials- Com (Pounds) Finished goods- Bio-Fuel (Gallons) a. Calculate the number of gallons of bio-fuel to be produced in December. Galons of Bio-Fuel Beginning inventory Production Goods available for sale Ending inventory Units sold Calculate the number of pounds of corn to be purchased to meet December's production. b. Pounds of Com Beginning inventory Purchases Raw material available for use Ending inventory Raw material used in production Additional Items to Know: Be able to identify expenses based on cost behavior (Variable, Fixed, or Mixed) (Ch. 12)
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