The chief financial officer for Cast in Stone concrete products had previously established a line of...
The chief financial officer for Cast in Stone concrete products had previously established a line of credit with a local bank that enables Cast in Stone to borrow 85% of the company's inventory balance. The company currently has 1,200 units in stock, and is performing "on budget."
The budget anticipated that direct labor cost would be $18 per hour, and factory overhead is applied to production based on $8.00 per direct labor hour.
Each unit requires 3 labor hours and 900 pounds of direct material. The direct material costs $0.20 per pound.
Determine the amount of credit available under the borrowing agreement.
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Homework Answers
Answer:-
Option c=$263160.00
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