Consult the Raw Materials records to determine the types and quantities of materials you currently have in stock. Determine which types of materials you need to purchase for Job 114 and how much of each youll need.
Number of Units needed:40
Total Quantity needed
BWFF 20
BWCheck:30
BFringe: 40
Bstrap:70
PICan: 10
Int 4: 20
There is the same question on Chegg and the answer is the first image, but I cannot get the same quantity for BW Check and Int 4. Could you explain to me how to get the answer?
Req.8 materials need to be purchased Material Quantity BWFF 20-6= 14 yards BW Check 30-12 = 18 yards B Fringe Oyards B Strap 70 yards Plcan O sheets Int4 20 yards BILL OF MATERIALS JOB 114 Vodel: BW14923 Number of units: Part Number Description BWFF BWCheck BFringe BStrap PICan nt4 Black and White Floral Fabric Black and White Checkered Fabric Black Fringe Trim Black shoulder strapping Plastic Canvas JInterfacing Level 4 sturdiness rating 40 Quantity needed per unitTotal Quantity Needed 0.50 yards 20 0.75 yards 100 yards 401 1 .75 yards D 7 0 0.25 sheets 0.50 yards Custom Fabric Ventures is a small company that produces fabric-based wardrobe accessories (such as, handbags, scarves, and headbands) and home accessories (such as placemats, pillows, and window treatments). The company keeps a limited number of popular items in stock, but primarily produces custom orders. Customers are able to choose from a wide selection of styles, sizes, and fabrics for each type of product. Most of the company's customers are small boutiques, home dcor shops, and home- decorators who serve clientele with discerning tastes. As a result, customers expect high-quality products. The sales staff of Custom Fabric Ventures has just received the following order: See Excel file: Customer Order Form Due to its popularity, the Black and White Handbag (BW14293) is normally a stock item. However, the handbag is currently out of stock. Rather than producing only enough units to fill Katie's order, management would like to produce a job (Job 114) that is large enough to fill Katie's order and replenish stock. The fabric used for this job can be stacked four layers deep for cutting, while still maintaining the quality and precision of the cut. Therefore, the company is able to realize some economies of scale by producing the handbags in multiples of 4. Management would like to produce enough units in this job to have a minimum of 30 and a maximum of 35 handbags left in stock after Katie's order has been filled. Your primary task is to determine the cost of producing Job 114 so that you can calculate the gross profit on the sale to Katie's Boutique. As part of this process, you will be required to schedule production, purchase any raw materials that aren't currently in stock, requisition materials for the job, and complete the job cost record. You will also be asked to consider relevant management and accounting issues and record the transactions related to this job in the company's accounting records. The following step-by-step requirements will guide you through the entire job costing process. The documents you will encounter in this case are normally completed electronically rather than manually. In addition, these documents often interface with each other electronically in order to transfer data in real-time, eliminate tedious calculations, and prevent errors. However, the underlying process is the same regardless of whether the company uses electronic or manual documents.e Req. 1: Before the year began, Custom Fabric Ventures estimated the following costs for the year: See Excel file: Estimated Annual Costs First, fill in the missing costs. Then, calculate the company's predetermined manufacturing overhead rate, assuming the company uses direct labor hours as its allocation base: Raw Materials Record Item No. BWFE Received Cost Total Description: Balance Cost Total Date Used Requisition Units Cost Number (yards) Units (yards) Total Units (yards) 6 1-Oct 1 $6.00 $ 36.00 Raw Materials Record Description: Balance Cost Total Used Requisition Units Cost Number yards) Item No. BWCheck Received Date Units Cost Total (yards) 1-Oct 3-Oct Total Units (yards) 20 8 $8.00 $8.00 $160.00 $64.00 #6784 12 $8.00 $96.00 Raw Materials Record Item No. BFringe Date Units (yards) Received Cost Total Used Requisition Units Cost Number yards) Total Balance Cost Total Units (yards) 3 | 63 1-Oct 2-Oot 60 $3.00 $180.00 | | | | $3.00 |_$3.00 $9.00 $189.00 Raw Materials Record tem No. BStrap Date Units (yards) Received Cost Total Used Requisition Units Cost Number (yards) Total Units (yards) Balance Cost Total 1-Oct $0.00 Raw Materials Record tem No. PICan Received Cost Total Date Cost Total Total Units (sheets) Requisition Units Number (sheets) Balance Units Cost (sheets) 25 $0.90 1-Oct $22.50 Raw Materials Record tem No. Int4 used Date Received Cost Total Units (yards) Used Requisition Units Cost Number yards) Total Balance Cost Total Units (yards) 50 2 1-Oct 4-Oot $4.00 $4.00 ID $200.00 $4.00 $8.00 #6785 48 | $4.00 $192.00
