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Mar31partquizsol

# Mar31partquizsol - ACG 2071 Managerial Accounting...

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ACG 2071 Managerial Accounting Participation Quiz – 8 points March 31, 2011 Version A SOLUTION Flyer, Inc. produces rulers from plastic resin. Flyer has estimated unit production and sales of rulers for the next 4 months as: March April May June Estimated production 24,800 24,000 32,100 24,200 Estimated sales 25,000 23,000 33,000 24,000 Each ruler requires 0.25 pounds of resin. The cost of resin is \$4.40 per pound. At the end of each month, Flyer wants to have 20% of the next month’s material requirements on hand, and 10% of the next month’s sales of rulers on hand. Each ruler requires 0.05 hours of labor. Employees are paid \$12 per hour. Additionally, fringe benefits are \$2 per labor hour. Overhead is applied at the rate of \$6.70 per direct labor hour. 1. Show the calculation of the number of pounds of resin are needed for production during April. Circle the amount. Production (FG) expected during the April 24,000 Pounds of resin needed per ruler 0.25 Total pounds needed for production

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Mar31partquizsol - ACG 2071 Managerial Accounting...

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