A company plans to sell 75,000 units in August and 85,000 units in September. Desired monthly...
A company plans to sell 75,000 units in August and 85,000 units in September. Desired monthly ending inventory is 75% percent of next month’s sales. beginning units inventory is 52,500. Each unit of finished product requires 7 pound of raw material and at cost of $6.35 per pound. There are 105,000 kilograms of raw material in inventory on July 31.
Compute estimated cost of raw-material purchases for month August.
Homework Answers
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Production required: |
||
|
August |
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Desired sales |
75000 |
|
|
Add:Ending Inventory |
63750 |
85000*0.75 |
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Total need |
138750 |
|
|
Less:Begin Inventory |
52500 |
|
|
Production reqd. |
86250 |
|
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Raw Material purchases: |
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RM desired (in lb) |
603750 |
86250*7 |
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RM desired (in Kg) |
273856 |
603750*0.45359237 |
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Less:Op. Stock (in Kg) |
105000 |
|
|
RM Purchases reqd. (in Kg) |
168856 |
|
|
RM Purchases reqd. (in lb) |
372265 |
168856.4/0.45359237 |
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RM purchase rate |
$6.35/lb |
|
|
Estimated cost of RM purchase, $ |
2363880 |
|
|
Note: |
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1 lb = 0.45359237 kg |
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