Pro Forma Finanacial Statements- HW multiple choice questions
Please show work and double-check to make sure that it’s the correct answer. I only get once chance to submit answer. Thanks!!
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3. (TCO 7) The production budget shows planned sales of 43,000. Beginning inventory is 6,400. Units to be produced are 44,400. What is the desired ending inventory? (Points : 4)
4. (TCO 7) If there were 70,000 pounds of raw materials on hand on January 1, 140,000 pounds are desired for inventory at January 31, and 420,000 pounds are required for January production, how many pounds of raw materials should be purchased in January? (Points : 4)
350,000 pounds (a)
560,000 pounds (b)
280,000 pounds (c)
490,000 pounds (d)
5. (TCO 7) XYZ Company expects the following sales and collection pattern for the first four months of the year:
-5% of credit sales are collected in the same month-75% of sales are collected in the following month-15% of sales are collected in the second following month