Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

It was the end of the third quarter for Bramble Industries, There had been some discussion in prior quarters about best practices related to carrying

image text in transcribed

It was the end of the third quarter for Bramble Industries, There had been some discussion in prior quarters about best practices related to carrying ending inventory of its key DM, acetic acid, for making vinegar. Per established standards, 6.9 ounces of acetic acid at a budgeted price of $0.30 per ounce were needed for each gallon of vinegar (128 ounces). The new production manager wants to follow lean practices and buy only what is needed for production, while the former production manager preferred to keep sowle Inventory on hand for emergencies. For the third quarter, 273,000 ounces of acetic acid were purchased on account and used to make 39,000 gallons of vinegar. The purchase price was $79,170. It was the end of the third quarter for Bramble Industries, There had been some discussion in prior quarters about best practices related to carrying ending inventory of its key DM, acetic acid, for making vinegar. Per established standards, 6.9 ounces of acetic acid at a budgeted price of $0.30 per ounce were needed for each gallon of vinegar (128 ounces). The new production manager wants to follow lean practices and buy only what is needed for production, while the former production manager preferred to keep sowle Inventory on hand for emergencies. For the third quarter, 273,000 ounces of acetic acid were purchased on account and used to make 39,000 gallons of vinegar. The purchase price was $79,170

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

Recommended Textbook for

Lean Audit The 20 Keys To World Class Operations A Health Check For Factory And Office

Authors: Joerg Muenzing

1st Edition

1514817829, 978-1514817827

Students also viewed these Accounting questions

Question

6 7 8 . .

Answered: 1 week ago

Question

1. Identify six different types of history.

Answered: 1 week ago

Question

2. Define the grand narrative.

Answered: 1 week ago

Question

4. Describe the role of narratives in constructing history.

Answered: 1 week ago