Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Croy Inc. has the following projected sales for the next five months: Croy's finished goods inventory policy is to have 50 percent of the next

image text in transcribed
image text in transcribed
image text in transcribed
Croy Inc. has the following projected sales for the next five months: Croy's finished goods inventory policy is to have 50 percent of the next month's sales on hand at the end of each month. Direct materfals costs $3.20 per pound, and each unit requires 2 pounds. Direct materials inventory policy is to have 50 percent of the next month's production needs on hand at the end of each month. Direct materials on hand at Mareh 31 totaled 3,668 pounds. Required: 1. Determine budgeted production for April, May, and June. 2. Determine budgeted cost of materials purchased for April and May. Croy's finished goods inventory policy is to have 50 percent of the next month's sales on hand at the end of each month. Direct materials costs $320 per pound, and each unit requires 2 pounds. Direct materials imventory policy is to have 50 percent of the next. month's production needs on hand at the end of each month. Direct materials on hand at March 31 totaled 3,668 pounds. Required: 1. Determine budgeted production for April, May, and June. 2. Determine budgeted cost of materials purchased for April and May. Complete this question by entering your answers in the tabs below. Determine budgeted production for April, May, and June. (Do not round your intermediate calcutations and found yeur final) answers to the nearest whole number.) Croy's finished goods inventory policy is to have 50 percent of the next month's sales on hand at the end of each month. Direct. materials costs $3.20 per pound, and each unit requires 2 pounds. Direct materials inventory policy is to have 50 percent of the next month's production needs on hand at the end of each month. Direct materials on hand at March 31 totaled 3,668 pounds. Required: 1. Determine budgeted production for April, May, and June. 2. Determine budgeted cost of materials purchased for April and May. Complete this question by entering your answers in the tabs below. Determine budgeted cost of materials purchased for April and May. (Use rounded Budgeted Production units in intermediate calculations. Round your answers to 2 decimal places.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions