Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Rensing Ltd. estimates sales for the second quarter of 2017 will be as follows. Month Units April 2,520 May 2,440 June 2,390 The target ending

Rensing Ltd. estimates sales for the second quarter of 2017 will be as follows.

Month Units

April 2,520

May 2,440

June 2,390

The target ending inventory of finished products is as follows.

March 31 2,010

April 30 2,280

May 31 2,170

June 30 2,330

2 units of material are required for each unit of finished product. Production for July is estimated at 2,750 units to start building inventory for the fall sales period. Rensings policy is to have an inventory of raw materials at the end of each month equal to 50% of the following months production requirements.

Raw materials are expected to cost $7 per unit throughout the period.

Calculate the May raw materials purchases in dollars.

Raw material purchases cost $ 34610 IS WRONG..

Can someone help please don't understand this problem

i have also gotten for answers that were wrong:

34610

34153

32620 x2

i only have 1 more chance left

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