Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The production department of Zan Corporation has submitted the following forecast of units to be produced by quarter for the upcoming fiscal year: Units to

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
The production department of Zan Corporation has submitted the following forecast of units to be produced by quarter for the upcoming fiscal year: Units to be produced 1st Quarter 19,000 2nd Quarter 22,000 3rd Quarter 21,000 4th Quarter 20,000 eBook Print eferences In addition, 33,250 grams of raw materials inventory is on hand at the start of the 1st Quarter and the beginning accounts payable for the 1st Quarter is $7,600. Each unit requires 7 grams of raw material that costs $1.60 per gram. Management desires to end each quarter with an inventory of raw materials equal to 25% of the following quarter's production needs. The desired ending inventory for the 4th Quarter is 6,000 grams. Management plans to pay for 60% of raw material purchases in the quarter acquired and 40% in the following quarter. Each unit requires 0.20 direct labor-hours and direct laborers are paid $15.50 per hour. Required: 1.82. Calculate the estimated grams of raw material that need to be purchased and the cost of raw material purchases for each quarter and for the year as a whole. 3. Calculate the expected cash disbursements for purchases of materials for each quarter and for the year as a whole. 4. Calculate the estimated direct labor cost for each quarter and for the year as a whole. Check my work 8 Required: 1.&2. Calculate the estimated grams of raw material that need to be purchased and the cost of raw material purchases for each quarter and for the year as a whole. 3. Calculate the expected cash disbursements for purchases of materials for each quarter and for the year as a whole. 4. Calculate the estimated direct labor cost for each quarter and for the year as a whole. 1 points eBook Complete this question by entering your answers in the tabs below. Print References Req 1 and 2 Req3 Reg 4 Calculate the etimated grams of raw material that need to be purchased and the cost of raw material purchases for each quarter and for the year as a whole. 1st 4th 2nd Quarter 3rd Quarter Quarter Quarter Year Estimated grams of raw material to be purchased Cost of raw materials to be purchased Rega > 1 points Required: 1.82. Calculate the estimated grams of raw material that need to be purchased and the cost of raw material purchases for each quarter and for the year as a whole. 3. Calculate the expected cash disbursements for purchases of materials for each quarter and for the year as a whole. 4. Calculate the estimated direct labor cost for each quarter and for the year as a whole. eBook Print Complete this question by entering your answers in the tabs below. References Reg 1 and 2 R3 Reg 4 Calculate the expected cash disbursements for purchases of materials for each quarter and for the year as a whole. 3rd 2nd Quarter Quarter Quarter 4th Quarter Year Total cash disbursements for materials 1 points Required: 1.&2. Calculate the estimated grams of raw material that need to be purchased and the cost of raw material purchases for each quarter and for the year as a whole. 3. Calculate the expected cash disbursements for purchases of materials for each quarter and for the year as a whole. 4. Calculate the estimated direct labor cost for each quarter and for the year as a whole. Book Complete this question by entering your answers in the tabs below. Prin References Reg 1 and 2 Reg 3 Rego Calculate the estimated direct labor cost for each quarter and for the year as a whole (Round inet labor hours per unit and Direct labor cost per hour answers to 2 decimal places 2nd 3rd 18 Quarter 4th Quarter Quarter Quarter Total direct labor cost

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

Audit Of The Federal Bureau Of Investigation Annual Financial Statements Fiscal Year 2015

Authors: Office Of The Inspector G Eneral, U.S. Department Of Justice

1st Edition

1530341264, 978-1530341269

More Books

Students also viewed these Accounting questions