Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. bonita, inc. makes and sells a single product, buc

Bonita, Inc. makes and sells a single product, buckets. It takes 40 ounces of plastic...

90.2K

Verified Solution

Question

Accounting

image

Bonita, Inc. makes and sells a single product, buckets. It takes 40 ounces of plastic to make one bucket. Budgeted production of buckets for the next three months is as follows: August 92000 units, September 72000 units, October 68000 units. The company wants to maintain monthly ending inventories of plastic equal to 10% of the following month's production needs. On August 31,200000 ounces of plastic were on hand. The cost of plastic is $0.04 per ounce. How much is the ending inventory of plastic to be reported on the company's balance sheet at September 30? $272000$10880$11520$7200

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students