Budget Electronics is planning to sell 2,200 and produce 2,000 wicker baskets during June. Each unit...
Budget Electronics is planning to sell 2,200 and produce 2,000 wicker baskets during June. Each unit requires 120 linear feet of wicker and 0.70 hours of direct labor. Wicker costs $0.35 per linear foot and employees of the company are paid $13.00 per hour. Manufacturing overhead is applied at a rate of 140% of direct labor costs. The company wants to have 10% of the wicker needed for the next month's production available at the end of each month. The expected production in July is 1,800 baskets. How many linear feet of wicker should the company plan to buy during June?
Homework Answers
Production in June = 2,000 wicker baskets
Expected production in July = 1,800 baskets
The company wants to have 10% of the wicker needed for the next month's production available at the end of each month.
Each unit requires 120 linear feet of wicker
Purchases for June production = 2,000 x 120
= 240,000 linear feet of wicker
Purchases for July production = 1,800 x 10% x 120
= 21,600 linear feet of wicker
Purchases to be made in June = 240,000 + 21,600
= 261,600 linear feet of wicker
Hence, the company should plan to buy 261,600 linear feet of wicker during June
Kindly comment if you need further assistance. Thanks
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