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If there were 30
If there were 30.000 pounds of raw material on hand on January 1, 60,000 pounds are desired for inventory at December 31. and 180.000 pounds are required for annual production, how many pounds of raw material should be purchased during the year?'
0 b. 240,000 pounds O c. 120,000 pounds O d. 210,000 pounds O a. 150,000 pounds
2
Mercado offers tis customers credit terms of 5/10, net 20. One-third of 2 the customers take the cash discount and the remaining customers pay on day 20. On average. 20 units are sold per day, priced at P10,000 each. The rate of sales is uniform throughout the year. Using a 360-day year, the company has days' sales outstanding in accounts receivable, to the nearest full day of:
O 15 days O 17 days O 13 days
Expert Solution
Computation of Pounds of Raw Material Purchased during the Year:
Raw Materials Purchased = Production Requirement + Ending Raw Materials Inventory - Beginning Raw Material Inventory
= 180,000+60,000 - 30,000
Raw Materials Purchased = 210,000
So, the correct option is D "210,000 pounds".
Computation of Days' Sales Outstanding in Accounts Receivable:
Days' Sales Outstanding in Accounts Receivable = (1/3) * 10 + (2/3) * 20 = 17 days
So, the correct option is 2nd "17 days".
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