-/1 Question 12 View Policies Current Attempt in Progress If there were 60000 pounds of raw materials on hand on January 1, 140000 pounds are desired for inventory at January 31, and 610000 pounds are required for January production, how many pounds of raw materials should be purchased in January? 690000 pounds 470000 pounds O 530000 pounds O 750000 pounds 8= 4) 11/- hp ins prt sc no ll 12 home delete end 4 & 7 num backspace lock Y U 7 home Н K 4 enter sned shift end ctri Σ
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- roblem 12 (10 points)Compute the Cost of Goods Sold for 2020 of Pillows Company considering the following information: Raw materials purchased was P2,500,000 with freight-in of P120,000 Purchase returns was P50,000 and purchase discount is 60% of purchase returns Raw materials beginning was P460,000 Raw materials end was P40,000 more than the beginning inventory Direct labor is P1,000,000 Factory overhead is 50% of direct labor Total goods placed in process is 150% of manufacturing cost WIP, end is 75% of WIP, beg Finished goods beginning balance is lesser by P100,000 than the ending balance which was P600,000QUESTION 5 A) A company sells product X & Y Sales for the year ended 2019 are: X: 5000 units @ ¢10 each Y: 3000 units @ ¢12 each The company expects to sell the following units in 2020: X: 6000 units @ ¢15 each Y: 4500 units @ ¢18 each Additional information: i) Budgeted opening stock X: 1000 units Y: 800 units Budgeted closing stock: X: 2000 units Y: 1500 units ii) Materials A and B are used to produce products X and Y based on the following ratio in order to produce one unit of X & Y Product Material A Material B X 3kg 2kg Y 2kg 1kg Purchase price ¢10 per Kg ¢12 per kg iii) Material A Material B Opening stock 8000 5000 Closing stock 6000 3500 (iv) The company has only one grade of labour and uses 3 hours to produce one unit of X 2 hours to produce one unit of Y Labour rate would be ¢20 per hour Required: Prepare the following budgets for 2020 Sales budget Production budget Direct Material usage budget Direct Material purchase budget Direct labour…PROBLEM 5 Using the EOQ Model, Tokyo Company computed the economic order quantity for one of the materials it uses in its production to be 4,000 units. The Company maintains safety stock of 300 units. The quarterly demand for the material is 10,000 units. The order cost is 200 per order. The purchase price of the material is P4. The annual Inventory carrying cost is equal to 25% of the purchase price. 1. What is the annual inventory carrying cost? 2. The total inventory order cost per year is?
- Question 3 A Company has 20 days as average raw material inventory holding period (AAI), 15 days processing time, 10 days finished goods inventory holding time, 20 days’ average receivable collection period (ACP) and 30 days’ average payment period. The Company estimated for 2022 that raw material costs shall be $15 million, processing costs shall be $ 5 million, raw materials and finished goods holding costs shall be $3 million and marketing and collection costs shall be $1 million. Required a) Calculate the operating cycle (OC) and cash conversion cycle (CCC)? b) calculate working capital requirement of the company for 2022 assuming 365 days in a year?PROBLEM 5 Using the EOQ Model, Tokyo Company computed the economic order quantity for one of the materials it uses in its production to be 4,000 units. The Company maintains safety stock of 300 units. The quarterly demand for the material is 10,000 units. The order cost is 200 per order. The purchase price of the material is P4. The annual Inventory carrying cost is equal to 25% of the purchase price. Note: USE AN EOQ MODEL - THE ANSWER OF 1 & 2 SHOULD BE THE SAME 1. What is the annual inventory carrying cost? 2. The total inventory order cost per year is?Beginning raw material inventory: 51000 grams Ending raw inventory: 40000 grams raw materials to be purchased during the year: 158,000 grams If each unit of finished goods requires 10 grams of raw materials, how many units of product are expected to be manufactured during the year?
- Compute for the Economic order quantity, assuming the no of units of materials required annually 20,000 cost of placing the order P29.00, Annual Carrying cost of inventory P 5.428- The White Rose Company uses the EOQ model to manage the inventory of their basic material. It is known that the ordering cost per order is BD 280, the annual holding cost per unit of inventory is BD 10, the annual demand is 140,000 units, the lead time is 2 days and the Company operates 350 days a year. Find the number of orders per year when the economic order quantity is ordered. A. 16 B. 10 C. 25 D. 5014. You are given the following Company Information Company LFrom the point of origin Direct materials 120.000Purchases of direct materials 228000Direct labour costs 610000Direct cost initial cost 780000 The stock cost of direct materials is the amount?
- The following data pertains to Western Company’s materials inventory: Number of pounds required annually 16,000 Cost of placing an order P20 Annual carrying cost per pound of material P4What is the EOQ?If there were 40000 pounds of direct materials on hand on January 1, 120000 pounds are desired for inventory at January 31, and 560000 pounds are required for January production, how many pounds of direct materials should be purchased in January? a. 480000 pounds b. 680000 pounds c. 440000 pounds d. 640000 pounds31.This is Cost Accounting. Explain briefly and answer. The following information pertains to Lannister Manufacturing Corporation’s Product Y: Annual Demand 33,750 units Annual cost to hold one unit of inventory P15 Setup cost (or the cost to initiate a production run) P500 Beginning Inventory of Product Y - 0 - At present, the company produces 2,250 units of Product X per production run, for a total of 15 production runs per year. The company is considering to use the EOQ model to determine the economic lot size and the number of production runs that will minimize the total inventory carrying cost and setup cost for Product Y If the EOQ model is used, what is the economic lot size?