Answer:
employed
employed
not part of the labour force
unemployed
Explanation:
A person is classified as unemployed if the person is without a job but has searched for employment within the past four weeks or the person is set to resume a job within the next three months
Becky is unemployed because she is without a job and has interviewed for a position a couple of days ago, She is frictionally unemployed
Frictional unemployment is the period of time a person is unemployed from the period he leaves his current job and the time he gets another job.
Kate is a discouraged worker. Discouraged workers are not included in the labour force.
A discouraged worker is a person who is within the legal employment age but is without a job and has given up on searching for employment
A person is considered employed if the person is working for some form of remuneration
Select True or False for each of the following statements about Types of Fraud, Scams, and Money Laundering
Red Flags.
Answer:
You Need To Provide More Information on the Question For An Answer
Explanation:
Not Information
Which type of savings plan offers the lowest interest rate?
O A. Checking account
O B. Savings account
O c. Certificate of deposit
O D. Money market account
Answer:
Answer to your question is savings account.
Explanation:
A savings account provides the lowest interest rates.
The Savings account type of savings plan offers the lowest interest rate.
What are accounts?Accounting is not pure mathematics. Simple multiplication, division, and addition are involved. There might be a little elementary algebra, but that's it. You are not required to comprehend calculus.
For accountants, mathematics is a crucial tool. Accounting professionals who possess a strong mathematical foundation can conduct financial analysis and make wise decisions at work. Accounting professionals must be able to understand and apply mathematical ideas like geometry, algebra, and statistics.
The interest rates on basic bank savings accounts are the lowest, typically less than 1%. They have few limitations on how you can access your money, and typically there are no minimum balance requirements. These accounts connected to physical banks can also be accessed online.
Therefore, Thus option (B) is correct.
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A project manager is overseeing a complex custom CSM solution that has rigorous quality standards and tight schedule constraints. Since the project manager is working in a weak matrix environment, none of the resources are reporting to her functionally. She also does not have either the power or the budget to reward the team members to encourage and motivate them for their performance and contribution to the project. What kind of power should the project manager try to use in this type of situation
The kind of power that the project manager should try to use in this type of situation is an: expert power.
A project manager refers to an individual who is saddled with the responsibility of planning, controlling, maintaining, and managing a group of people (team members) that are working under him or her, especially for the execution of a project.
In Project management, a project manager has different kinds of power and these include:
Referent powerReward powerCoercive (penalty) powerFormal (legitimate) PowerExpert powerExpert power is one of the most effective kinds of power and it is typically possessed by a project manager that is a professional (expert) in a particular subject, field or project.
Since the project manager is working in a weak-matrix organizational environment and has no power or budget to reward her team members, she should use her expert power to oversee the complex custom CSM solution project.
In conclusion, the kind of power that the project manager should try to use in this type of situation is an expert power.
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g Molly is not married and has no children. She executes a will, disposing of her estate to her sister Nina. Later, Molly marries Owen. They have no children. Molly does not execute a new will before she dies. With respect to Molly's estate, Owen is entitled to
Based on the terms of the will, based on molly's estate, Owen is entitled to no part of her estate because the estate was already willed to her sister Nina.
According to the given question, we can see that Molly who was unmarried at the time of making her will, willed her estate to her sister and later got married to Owen and she died without making changes to her will.
The outcome is very clear as Owen is not entitled to anything, unless he is given by Nina, although he can contest the will in court, but Nina has the upper hand because legally she has the estate.
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Compare the job of an order-taker at a fast-food restaurant, marketing manager of the telecommunication sector, police officer, and CEO of a multinational firm, using the job characteristics model. Give your recommendations on how the characteristics of the least motivating job/jobs could be improved?
Answer:
i think
Explanation:
Perhaps the earliest attempt to design jobs came during the era of scientific management. Scientific management is a philosophy based on the ideas of Frederick Taylor as presented in his 1911 book, Principles of Scientific Management. Taylor’s book is among the most influential books of the 20th century; the ideas presented had a major influence over how work was organized in the following years. Taylor was a mechanical engineer in the manufacturing industry. He saw work being done haphazardly, with only workers in charge. He saw the inefficiencies inherent in employees’ production methods and argued that a manager’s job was to carefully plan the work to be performed by employees. He also believed that scientific methods could be used to increase productivity. As an example, Taylor found that instead of allowing workers to use their own shovels, as was the custom at the time, providing specially designed shovels increased productivity. Further, by providing training and specific instructions, he was able to dramatically reduce the number of laborers required to handle each job.
Patti, a high school student, watches a financial show on television. The host has a college degree in business. The show is about how teenagers who start saving early have a big advantage. This information is _____.
this information is true
what is the definition of organization ? Briefly explain each part of the definition?
organization isn a group or team that works together to accomplish a task
explain why maximizing Production does not always maximize profit
define rent-seeking and show how it is related to elasticity
Answer:
What Is Rent Seeking?
Rent seeking (or rent-seeking) is an economic concept that occurs when an entity seeks to gain added wealth without any reciprocal contribution of productivity. Typically, it revolves around government-funded social services and social service programs.
Key takeaways
Rent seeking is an economic concept that occurs when an entity seeks to gain wealth without any reciprocal contribution of productivity.The term rent in rent seeking is based on the economic definition of “rent,” which is defined as economic wealth obtained through shrewd or potentially manipulative use of resources.An example of rent seeking is when a company lobbies the government for grants, subsidies, or tariff protection.Rent seeking comes in many forms from lobbying or donating funds.For example, if you donate money but write it off on your taxes, it could be considered a form of rent seeking.
a successful advertised campaign affects
A:supply of the advertised good
B:quantity supplied of the advertised good
C:demand for the advertised good
D:quantity demanded of the advertised good
Answer:
B the responsiveness of quantity demanded of a good due to a change in its price.
Explanation:
B ...
On the last day of its current tax year, Buy Rite LLC received $390,000 when it sold a machine it had purchased for $270,000 three years ago to use in its business. At the time of the sale, the basis in the equipment had been reduced to $230,000 due to tax depreciation taken. How much did the members’ self-employment earnings from Buy Rite increase when the equipment was sold? [Hint: See IRC §1402(a)(3).]
Answer:
1,402
Explanation:
Give 3 sample of best practice, how airline can improve "Cost" efficiency?
It is called "cost efficiency" to the way in which a company, through specific commercial organization actions, manages to reduce the costs necessary to obtain a certain profit.
Thus, they seek to minimize the costs and operational losses of the company, with the aim of maximizing profits.
In this way, 3 ways in which an airline could increase its cost efficiency are:
fly to places with high demand, reducing presence in not so popular destinations. reduce the time on the ground for each plane, so that it generates money almost constantly. perform optimal maintenance on each plane, to avoid breakages.Learn more about efficiency in https://brainly.com/question/6672666
what the number of units to be produced it the firm desires to make a profit of birr 10,000 assuming the fixed cost, variable cost, per unit and selling price per unit are 50,000 birr 10 and birr 20 respectively.
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6000 units, the number of units to be produced it the firm desires to make a profit of birr 10,000 assuming the fixed cost, variable cost, per unit and selling price per unit are 50,000 birr 10 and birr 20 respectively.
What is the variable cost?
A variable cost is a business expense that varies according to how much a business provides or sells. Variable costs rise or fall in relation to a company's manufacturing or sales volume, rising as production increases and falling as production drops. Variable cost is defined as the type of cost that varies according to changes in the production levels.
According to the given amount are the based on the
sales = variable cost + fixed cost + profit
(20X) = (10X) + (50000) + (10000)
sales = 6000 units
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hey if u looked on my other post just go to ur notifacations to see
u have to accept the message request
Chester has negotiated a new labor contract for the next round that will affect the cost for their product Coat. Labor costs will go from $2.95 to $3.55 per unit. Assume all period and other variable costs remain the same. If Chester were to absorb the new labor costs without passing them on in the form of higher prices, how many units of product Coat would need to be sold next round to break even on the product
Based on the fact that Chester decides to absorb the new labor cost, the units needed to breakeven would be 1,566 units.
The current fixed costs are $8,346.
The current contribution margin is $11,401
The units sold are:
= Sales / Selling price
= 30,785 / 16
= 1,924 units
The new contribution margin would be:
= Current contribution margin - Increase in labor costs
= 11,401 - ( (3.55 - 2.95) x 1,924)
= $10,255.60
Breakeven point is:
= Fixed costs / Contribution margin per unit
= 8,346 / (10,255.60÷ 1,924 units)
= 1,566 units
In conclusion, the breakeven point is 1,566 units
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The goal of a subsidy is to __________. a.) discourage consumption of a good b.) raise revenue for the government c.) encourage production of a good d.) avoid deadweight loss
The goal of a subsidy is to encourage production of a good.
A subsidy can be described as when the government reduces the cost of production or the cost of a good or service to consumers. It is a form of transfer of wealth from the government to consumers or producers.
The purpose of subsidies is to reduce the price of goods and services. This encourages production or consumption. Subsidies reduces the revenue of the government.
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Rise Up Retail Industry Fundamentals
Review - Part 1
Matehing Vocabulary
A Allocation
B. Corporation
0, Customers
D. Manufacturers
E Products
F. Retail Product Cycle
O, Retailer
H. Wholesaler
1
People that purchase goods or services from a business
2. Any entity that produces finished products are
3 Physical goods that are bought and sold, such as food, clothes, & household
itema
4
A business or person that sells products and/or services to customers, and they
seleet merchandise and services based on the needs of a specific store, region or
community
An amount or portion of a resource assigned or distributed to a store or recipient
0 in both physical and online shopping, this explains the process from choosing the
products and services to offer to getting them in the hands of customers
An entity that buya large quantities of products directly from the manufacturer
and then sella amaller amounts of products to different retailers
8 Business that has shareholders through publicly traded stock, and usually has
centralized decision-making for ita multiple store locations.
Matching Examples
A Example of Business in Retail
B. Example of Distribution Center
G Example of Omnichannel Retail
D. Example of Retail Product (x2)
E. Example of Retail Service (x2)
Car wash
10
Customers being able to shop in person and online while also receiving texts and
emails about sales and promotions
Department store
12. Facility used for receiving, temporary storage, and distribution of goods to the retail
centers based on orders as they are received
New car tires
18 Warranty on an item
Renigerator
Answer:
give me asec
Explanation:
Identify the type of social responsibility discussed in the case with regard to
responsibility towards the environment. Explain with reason.
Corporate social responsibility (CSR) is the idea that a business has a responsibility to the society that exists around it, according to the online course Sustainable Business Strategy. Firms that embrace corporate social responsibility are typically organized in a manner that empowers them to be and act in a socially responsible way. It’s a form of self-regulation that can be expressed in initiatives or strategies, depending on an organization’s goals. Exactly what “socially responsible” means varies from organization to organization. Firms are often guided by a concept known as the triple bottom line, which dictates that a business should be committed to measuring its social and environmental impact, along with its profits. The adage “profit, people, planet” is often used to summarize the driving force behind the triple bottom line.
what you might say about each of the following cabins on this cruise liner: interior cabin, ocean-view cabin, balcony cabin, and suite. Keep in mind you want your description to remain neutral and pique guests interests while still remaining honest.
The question is about the description of different cabins of cruise liner. Following is the description of each cabin,
Interior cabin : An interior cabin is the area of a cruise which has no window. On this cabin visitors can rest and enjoy the peace. There are luxury and relaxing sofas to relax and comfortable bed to have sound sleep.
Ocean view cabin : An Ocean view cabin is outside cabin which has window to look at the sea. It has luxury couch to sit and enjoy the pleasant view of the ocean.
Balcony Cabin : It is room of a cruise which has separate balcony attached to the room. However the balcony is small in size and there is space of only two chairs but the experience of viewing the ocean from it is unforgettable.
Guest can sit and enjoy their drinks while having beautiful view of ocean waves along with sea breeze.
Suite : This is largest room of the cruise and guests can experience special luxury perks in this room. The suite is a large room of the cruise which has separate lounge and sometimes separate swimming pool too.
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buying Fisher Industries, which has earnings per share of $1.50, 3.5 million shares outstanding, and a share price of $15. Brutus will pay for Fisher by issuing new shares. There are no expected synergies from the transaction. If Brutus pays no premium to acquire Fisher, what will the earnings per share be after the merger
If Brutus buys Fisher with new shares and with no premium, the new earnings per share after the merger would be $2.94
Brutus currently has 5 million shares which are valued at $32 for a total worth of:
= 5 x 32
= $160,000,000
Fisher has 3.5 million shares valued at $1.50 for a total worth of:
= 1.5 x 3.5
= $5,250,000
The shares to be issued can be found as:
= Share price of Fisher / Share price of Brutus x Fisher shares
= 15 / 32 x 3.5 million shares
= 1,640,625 shares
The total number of shares are now:
= Brutus shares + Shares issued to acquire Fisher
= 5 million + 1,640,625
= 6,640,625 shares
The new EPS would be:
= (Earnings of Brutus + Earnings of Fisher) / Number of shares
= ( (3 x 5 million) + (1.50 x 3.5 million)) / 6,640,625
= $2.94 per share
In conclusion, the new EPS is $2.94
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On-shelf in stock percentage best describes a product availability metric for a ______.
Based on the information given, it can be deduced that on-shelf in stock percentage relates to the retailer.
It should be noted that on shelf in stock percentage simply means the measurement of the percentage of time that a particular product will be available on a shelf in a store.
On-shelf in stock percentage best describes a product availability metric for a retailer. This simply means a business where consumers buy goods from.
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A shop sells 20 hats per week at $10 each. When it increases the price to $12, the number of hats sold falls to 15 per week. We can conclude that: The elasticity of demand can be estimated as Answer
Answer:
Estimated as Elastic Demand
Explanation:
Elastic demand is where a change in price causes a significant change in demand, therefore 20 hats to 15 hats can be considered significant and we can conclude that it's elastic demand.
Find m2V.
V
W
(2x + 29)
(10x – 27)°
Y
Answer:
31x
17x
Explanation:
we should add 2x+29
we should subtract 10x and 27
Horizontal Analysis of Income Statement For 20Y2, McDade Company reported a decline in net income. At the end of the year, T. Burrows, the president, is presented with the following condensed comparative income statement:
McDade Company Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2 20Y1 Sales $ 16,800,000 $ 15,000,000 Cost of goods sold (11,500,000) (10,000,000) Gross profit $ 5,300,000 $ 5,000,000 Selling expenses $ (1,770,000) $ (1,500,000) Administrative expenses (1,220,000) (1,000,000) Total operating expenses $ (2,990,000) $ (2,500,000) Operating income $ 2,310,000 $ 2,500,000 Other revenue 256,950 225,000 Income before income tax expense $ 2,566,950 $ 2,725,000 Income tax expense (1,413,000) (1,500,000) Net income $ 1,153,950 $ 1,225,000
1. Prepare a comparative income statement with horizontal analysis for the two-year period, using 20Y1 as the base year. Use the minus sign to indicate an amount or percent decrease. If required, round percentages to one decimal place.
2. To the extent the data permit, comment on the significant relationships revealed by the horizontal analysis prepared in (1).
1. The calculation of the horizontal analysis of McDade Company's Comparative Income Statement for the Years Ended December 31, 20Y2 and 20Y1 is as follows:
20Y2 % 20Y1 %
Sales $16,800,000 112% $ 15,000,000 100%
Cost of goods sold (11,500,000) 115% (10,000,000) 100%
Gross profit $ 5,300,000 106% $ 5,000,000 100%
Selling expenses $ (1,770,000) 118% $ (1,500,000) 100%
Administrative expenses (1,220,000) 122% (1,000,000) 100%
Total operating expenses $(2,990,000) 120% $(2,500,000) 100%
Operating income $2,310,000 92% $2,500,000 100%
Other revenue 256,950 114% 225,000 100%
Income before income tax expense $2,566,950 94% $2,725,000 100%
Income tax expense (1,413,000) 94% (1,500,000) 100%
Net income $ 1,153,950 94% $ 1,225,000 100%
The calculation of the Trend Analysis, with two examples is as follows:
Sales = 112% ($16,800,000/$15,000,000 x 100%)
Cost of goods sold = 115% ($11,500,000/$10,000,000 x 100%)
2. The significant relationships revealed by this horizontal analysis showed that sales revenue and gross profit increased by 12% and 6% respectively from 20Y1's figure, this increase did not translate into increased net income. Instead, the net income decreased by 6% in 20Y2 as a result of increased operating expenses, which witnessed a 20% increase.
Thus, The horizontal analysis of McDade Company's comparative income statement involves the calculation of percentage changes from 20Y1 to the 20Y2. The dollar amount changes can also be calculated.
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A useful clue about an organization's culture is
Answer:
Who is Hired and Fired
Explanation:
If this helped, please give brainliest answer! thanks!
When assessing whether product release deadlines were met during the first three months of the year, the quality assurance (QA) team noted that they were late 23 percent of the time. During that time, the team had hired two new specialists. The team immediately assessed their processes, including that of approving lot records, a required step to ensure that each lot met product requirements, which then triggered a product release. They found that the new QA reviewers were slow to make decisions because of lack of experience and knowledge. Which statement best explains why analyzing the lot record process and identifying the major constraint for product release was helpful to the QA director so she could take action to improve?a. Knowing what the constraint was helped the QA director to watch deadlines more closely as she is the one responsible for meeting them.
b. Analyzing the root cause of the delays helped the QA director alert the new specialists that their work was not acceptable.
c. Understanding what went wrong helped the QA director rethink her hiring policy and process so she could identify stronger candidates.
d. Identifying the constraint informed the QA director of the need for increased training for the new specialists.
Identifying the constraint declared the QA director the requirement for increased training for the unique specialists. This statement best describes why investigating the lot record operation and identifying the major constraint for product release existed useful to the QA director.
Who is a QA director?Quality assurance or QA director creates sure high-quality products exist delivered on time and within budget. The role manages all the systems, processes, and enterprises that alleviate quality issues. Directors work with internal partners whose obligations connect to compliance and production. The Head of Quality Assurance assumes ownership of the department's performance as well as obligation over the resolution of technical issues and debugging movements of the business's software/products.
Therefore, the (d) option exists as the correct answer.
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How will the business function if something happens to one of the key members of the management team?
When the business function if something happens to one of the key members of the management team so, by creating a company continuity strategy or an emergency plan or replace with another member.
What do you mean by the business function?An organization's activities are referred to as business functions, and they can be further broken down into core and support functions.
The production of finished goods or services destined for the market or for other parties is one of an enterprise's core business functions.
Because completing the other management functions significantly depends on having a good plan, planning is a crucial management function.
Organizations have closed their doors permanently as a result of poor management. High employee turnover is a direct outcome of poor leadership.
Therefore, when the business function if something happens to one of the key members of the management team so, by creating a company continuity strategy or an emergency plan or replace with another member.
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Everfi
You have to match the boxes with the section
Answer:
Needs : Frappuccino before work each day and winter coat
Wants: monthly loan payment and paying extra on the principal loan amount
Saving: rent on your apartment
Answer:
Explanation:
.
The following were selected from among the transactions completed during the current year by Danix Co., an appliance wholesale company: Jan. 21 Sold merchandise on account to Black Tie Co., $29,400. The cost of merchandise sold was $17,640. Mar. 18 Accepted a 60-day, 6% note for $29,400 from Black Tie Co. on account. May 17 Received from Black Tie Co. the amount due on the note of March 18. June 15 Sold merchandise on account to Pioneer Co. for $15,700. The cost of merchandise sold was $9,420. 21 Loaned $6,000 cash to JR Stutts, receiving a 30-day, 8% note. 25 Received from Pioneer Co. the amount due on the invoice of June 15. July 21 Received the interest due from JR Stutts and a new 60-day, 9% note as a renewal of the loan of June 21. (Record both the debit and the credit to the notes receivable account.) Sept. 19 Received from JR Stutts the amount due on her note of July 21. 22 Sold merchandise on account to Wycoff Co., $60,000. The cost of merchandise sold was $36,000. Oct. 14 Accepted a 60-day, 6% note for $60,000 from Wycoff Co. on account. Nov. 13 Wycoff Co. dishonored the note dated October 14. Dec. 28 Received from Wycoff Co. the amount owed on the dishonored note, plus interest for 15 days at 12% computed on the maturity value of the note. Required: Journalize the entries to record the transactions. Assume 360 days in a year. If an amount box does not require an entry, leave it blank.Jan. 21-sale Jan. 21-cost Mar. 18 May 17 June 15-sale June 15-cost June 21 June 25 July 21 Sept. 19- note Sept. 22-sale Sept. 22-cost Oct. 14 Nov. 13 Dec. 28
The journal entries for the transactions by Danix co during the year, using a 360-day year are as follows:
Jan. 21 Debit Accounts Receivable (Black Tie Co.) $29,400
Credit Sales Revenue $29,400
Debit Cost of Goods Sold $17,640
Credit Inventory $17,640
Mar. 18 Debit Note Receivable (Black Tie Co.) $29,400
Credit Accounts Receivable (Black Tie Co.) $29,400
60-day, 6% note
May 17 Debit Cash $29,694
Credit Note Receivable (Black Tie Co.) $29,400
Credit Interest Revenue $294
June 15 Debit Accounts Receivable (Pioneer Co.) $15,700
Credit Sales Revenue $15,700
Debit Cost of Goods Sold $9,420
Credit Inventory $9,420
June 21 Debit 8% Note Receivable (JR Stutts) $6,000
Credit Cash $6,000
a 30-day, 8% note.
June 25 Debit Cash $15,700
Credit Accounts Receivable (Pioneer Co.) $15,700
July 21 Debit Cash $40
Credit Interest Revenue $40 ($6,000 x 8% x 30/360)
9% Note Receivable (JR Stutts) $6,000
Credit 8% Note Receivable (JR Stutts) $6,000
To record the exchange with a 60-day, 9% note.
Sept. 19 Debit Cash $6,090
Credit 9% Note Receivable (JR Stutts) $6,000
Credit Interest Revenue $90
($6,000 x 9% x 60/360)
Sept. 22 Debit Accounts Receivable (Wycoff Co.) $60,000
Credit Sales Revenue $60,000
Debit Cost of Goods Sold $36,000
Credit Inventory $36,000
Oct. 14 Debit 6% Note Receivable (Wycoff Co.) $60,000
Credit Accounts Receivable (Wycoff Co.) $60,000
Accepted a 60-day, 6%
Dec. 13 Debit Accounts Receivable (Wycoff Co.) $60,600
Credit Interest Receivable $600
Credit 6% Note Receivable (Wycoff Co.) $60,000
Dec. 28 Debit Cash $60,903
Credit Interest Receivable $600
Credit Accounts Receivable (Wycoff Co.) $60,600
Credit Interest Revenue $303
($60,600 x 12% x 15/360) interest for 15 days at 12% computed on the maturity value of the note.
Data Analysis:
Jan. 21 Accounts Receivable (Black Tie Co.) $29,400 Sales Revenue $29,400
Cost of Goods Sold $17,640 Inventory $17,640
Mar. 18 Note Receivable (Black Tie Co.) $29,400 Accounts Receivable (Black Tie Co.) $29,400 60-day, 6% note
May 17 Cash $29,694 Note Receivable (Black Tie Co.) $29,400 Interest Revenue $294
June 15 Accounts Receivable (Pioneer Co.) $15,700 Sales Revenue $15,700 Cost of Goods Sold $9,420 Inventory $9,420
June 21 8% Note Receivable (JR Stutts) $6,000 Cash $6,000 a 30-day, 8% note.
June 25 Cash $15,700 Accounts Receivable (Pioneer Co.) $15,700
July 21 Cash $40 Interest Revenue $40 ($6,000 x 8% x 30/360)
9% Note Receivable (JR Stutts) $6,000 8% Note Receivable (JR Stutts) $6,000
60-day, 9% note
Sept. 19 Cash $6,090 9% Note Receivable (JR Stutts) $6,000 Interest Revenue $90 ($6,000 x 9% x 60/360)
Sept. 22 Accounts Receivable (Wycoff Co.) $60,000 Sales Revenue $60,000
Cost of Goods Sold $36,000 Inventory $36,000
Oct. 14 6% Note Receivable (Wycoff Co.) $60,000 Accounts Receivable (Wycoff Co.) $60,000
Accepted a 60-day, 6%
Dec. 13 Accounts Receivable (Wycoff Co.) $60,600 Interest Receivable $600 6% Note Receivable (Wycoff Co.) $60,000
Dec. 28 Cash $60,903 Interest Receivable $600 Accounts Receivable (Wycoff Co.) $60,600Interest Revenue $303 ($60,600 x 12% x 15/360) interest for 15 days at 12% computed on the maturity value of the note.
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On January 1, 2022, the Sunland Company budget committee has reached agreement on the following data for the 6 months ending June 30, 2022.
Sales units: First quarter 5,700; second quarter 6,840; third quarter 7,980.
Ending raw materials inventory: 40% of the next quarter's production requirements.
Ending finished goods inventory: 25% of the next quarter's expected sales units.
Third-quarter production: 8,330 units.
The ending raw materials and finished goods inventories at December 31, 2021, follow the same percentage relationships to production and sales that occur in 2022. Three pounds of raw materials are required to make each unit of finished goods. Raw materials purchased are expected to cost $4 per pound.
Prepare a direct materials budget by quarters for the 6-month period ended June 30, 2022.
The preparation of Sunland Company's Direct Materials Budget for the First and Second Quarters ended June 30, 2022 is as follows:
First Quarter Second Quarter
Ending raw materials 12,654 9,996 (3,332 x 3)
Production requirement 26,505 31,635 (10,545 x 3)
Materials available 39,159 41,631
Beginning inventory 10,602 12,654
Purchases 28,557 28,977
Cost of purchases $114,228 $115,908 ($28,977 x $4)
Data and Calculations:
First Quarter Second Quarter Third Quarter Total
Sales units 5,700 6,840 7,980
Ending inventory 1,710 1,995
Units available for sale 7,410 8,835
Beginning inventory 1,425 1,710 1,995
Production requirement 8,835 10,545 8,330
Thus, the direct materials budget for Sunland Company is prepared as above.
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