Nascar company manufactures an innovative automobile

Assignment Help Accounting Basics
Reference no: EM13483441

Nascar Company manufactures an innovative automobile transmission for electric cars. Management predicts that ending inventory for the first quarter will be 37,500 units. The following unit sales of the transmissions are expected during the rest of the year: second quarter, 225,000 units; third quarter, 262,500 units; and fourth quarter, 237,500 units.

Company policy calls for the ending inventory of a quarter to equal 20% of the next quarter's budgeted sales. Nascar Company reports direct materials requirements of 0.60 pounds per unit. It also aims to end each quarter with an ending inventory of direct materials equal to 50% of next quarter's budgeted materials requirements. Direct materials cost $175 per unit. Required: Prepare a direct materials budget for the second quarter.

Reference no: EM13483441

Questions Cloud

Assuming their workers work a typical 40 hours work week : roman and clive have a plan to manufacture barbeque grills. they are writing their business plan for roman amp clive
Your friend is considering buying a patio heater for her : your friend is considering buying a patio heater for her pub. she thinks that she can extend her patio season by
Texas does not anticipate keeping any of the heifers for : texas had a herd of cattle including heifers and steers that have not yet been weaned. texas does not anticipate
Using the abc system what percentage of the machining costs : hickory company manufactures two productsacirceuro14000 units of product y and 6000 units of product z. the company
Nascar company manufactures an innovative automobile : nascar company manufactures an innovative automobile transmission for electric cars. management predicts that ending
List any qualitative factors that you think management : smoluk mining co. is currently operating less than 50 of capacity. the management of the company expects sales to drop
Is sarbanes-oxley worth the trouble does it hold publically : is sarbanes-oxley worth the trouble? does it hold publically traded companies acountable or does it bog down the
Tere is a 10 percent chance that the cash flows will be : the karns oil company is deciding whether to drill for oil on a tract of land that the company owns. the company
Linda olsen is studying for the next accounting midterm : linda olsen is studying for the next accounting midterm examination. summarize for linda what she should know about

Reviews

Write a Review

Accounting Basics Questions & Answers

  What existing provisions in the act

Review the provisions of the Sarbanes-Oxley Act which was created in 2002 to address the accounting scandals in the late 90s early 00s (Enron, WorldCom, etc.). Identify the provisions that you feel made the biggest impact.

  Discuss the inherit risks related to sampling methods

Discuss the inherit risks related to sampling methods and how the risk of audit sampling can be minimized by the auditing team.

  The pre-emptive right of the common stockholder is the

the pre-emptive right of a common stockholder is the right toa.share proportionately in corporate assets upon

  Raymond financial services

In May of 2011, Raymond Financial Services became involved in a penalty dispute with the EPA. At December 31, 2011, the environmental attorney for Raymond indicated that an unfavorable outcome to the dispute was probable.

  Investment account-net income

Judd, Inc., owns 35% of Cosby Corporation. During the calendar year 2010, Cosby had net earnings of $300,000 and paid dividends of $30,000. Judd mistakenly recorded these transactions using the fair value method rather than the equity method of ac..

  When is the trial balance prepared what does the trial

when is the trial balance prepared? what does the trial balance tell you? what does the trial balance not tell you.

  Periodic inventory system and gross method

Which of the following is the correct entry to record the payment by Underwood Inc., within the 10 days if the company uses the periodic inventory system and the gross method to record purchases?

  Explain the purpose of the proposal budget and budget

what is the purpose of the proposal budget and budget

  What is inflation premium on five-year bonds

The real risk-free rate is r* = 2.80%, the default risk premium for Crockett's bonds is DRP = 0.85% versus zero for T-bonds, the liquidity premium on Crockett's bonds is LP = 1.25%, and the maturity risk premium for all bonds is found with the for..

  Loss on the sale of equipment

A company had net income of $242,000. Depreciation expense is $26,000. During the year, accounts receivable and inventory increased $15,000 and $40,000, respectively. Prepaid expenses and accounts payable decreased $2000 and $4000, respectively. T..

  1nbspnbspnbspnbspnbsp the following items were among those

1nbspnbspnbspnbspnbsp the following items were among those that were reported on dye co.s income statement for the year

  In april of the current year steelman press company

in april of the current year steelman press company transferred ken sherm from its factory in louisiana to its plant in

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd