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Hi, I need Accounting help please preparing an Accounts Payable Schedule wight Inc. purchases raw materials on account for use in production. The direct materials
Hi, I need Accounting help please
preparing an Accounts Payable Schedule wight Inc. purchases raw materials on account for use in production. The direct materials purchase budget shows the following expected purchases on account: April $374,500 May 411,800 June 416,600 Wight typically pays 30% on account in the month of billing and 70% the next month. Required: 1. How much cash is required for payments on account in May 2. How much cash is expected for payments on account in June? Preparing an Ending Finished Goods Inventory Budget Andrews Company manufactures a line of office chairs. Each chair takes $18 of direct materials and uses 1.9 direct labor hours at $14 per direct labor hour. The variable overhead rate is $1.20 per direct labor hour and the fixed overhead rate is $1.40 per direct labor hour. Andrews expects to have 570 chairs in ending inventory. There is no beginning inventory of office chairs. Required: Round to the nearest cent.) 1. Calculate the unit product cost. (Note: 2. Calculate the cost of budgeted ending inventory. (Note: Round to the nearest dollar.)
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