Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Kindly solve these. Direct materials inventories are kept in pounds for Make or Break, Inc. For the current year, total pounds required for production is

Kindly solve these.

  1. Direct materials inventories are kept in pounds for Make or Break, Inc. For the current year, total pounds required for production is 10,800 pounds of materials. If the beginning inventory is 1,500 pounds and the ending inventory is 3,000 pounds, total materials required to be purchased is:
    1. 9,500 pounds
    2. 9,700 pounds
    3. 12,300 pounds
    4. 8,800 pounds

  1. Expected direct materials purchases for Micks Sporting Goods are $85,000 in the first quarter and $115,000 in the second quarter. Micks policy is to pay 45% of the purchases in cash as incurred, and the balance paid in the following quarter. The budgeted cash payments for purchases in the second quarter are: a. $98,500
    1. $46,750
    2. $51,750
    3. $115,000
  2. When preparing a statement of cash flows, it is essential to analyze the balance sheet, particularly changes in the beginning and ending balances of accounts. The ABC Company presents the following selected portion in its balance sheet at 12/31/19:
  3. 12/31/2019

    12/31/2018

    Accounts Receivable

    100,000

    150,000

    Accounts Payable

    85,000

    90,000

    Assuming these are the only changes in the comparative balance sheets,

    1. Net cash flow from operating activities had a net decrease $45,000
    2. Net cash flow from operating activities had a net increase of $45,000
    3. Net cash flow from operating activities had a net decrease of $185,000
    4. There is no effect to net cash flow.

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

More Books

Students also viewed these Accounting questions

Question

What methods help develop managerial skills?

Answered: 1 week ago

Question

In what ways are you similar to your closest friends?

Answered: 1 week ago