Week 2 Homework Assignment

Week 2 Homework Assignment - Week 2 Homework Assignment...

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Week 2 Homework Assignment Problem 1 - Picture Pretty manufactures picture frames. Sales for August are expected to be 10,000 units of various sizes. Historically, the average frame requires four feet of framing, one square foot of glass, and two square feet of backing. Beginning inventory includes 1,500 feet of framing, 500 square feet of glass, and 500 square feet of backing. Current prices are $0.30 per foot of framing, $6.00 per square foot of glass, and $2.25 per square foot of backing. Ending inventory should be 150% of beginning inventory. Purchases are paid for in the month acquired. Question 1: Determine the quantity of framing, glass, and backing that is to be purchased during August. (5 points) 10,000 units are produced and the Three materials are: Frame per unit = 4’; Glass per unit = 1sq'; Backing per unit = 2sq' 40,000 lineal feet; 10,000 sq', 20,000 sq' Beginning Inventory: 1,500’; 500 sq’; 500 sq' Ending inventory must be 150% of beginning inventory; 2,250' 750 sq' 750 sq' Qty to purchase for August: 40,750' framing; 10,250 sq' glass; 20,250 sq' backing Question 2: Determine the total costs of direct materials for August purchases. (5 points)
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Week 2 Homework Assignment - Week 2 Homework Assignment...

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