Ask Question
BusinessBusiness
21 October, 13:35

Barrington Mills Manufactures denim cloth from two primary raw materials, cotton and dye. Work-in-process includes lapped cotton, spun yarn, and undyed cloth, while finished goods includes three grades of dyed cloth. The average inventory amounts and units costs on hand at any given time are as follow

Raw Materials Inventory Levels Unit Costs

Cotton 70,000 lbs $2.75

Dye 125,000 gal $5.00

Work-in-Process

Lapped Cotton 2,000 rolls $10.50

Spun Yarn 5,000 spools $6.75

Undyed Cloth 500 rolls $26.10

Finished Goods Grade 1 Cloth 250 rolls $65.00

Grade 2 Cloth 190 rolls $80.00 Grade 3 Cloth 310 rolls $105.00The company operates 50 weeks per year and its cost of goods sold for the year was $17.5 million. Determine the company's weeks of supply.

(A) 20.21 (B) 19.43 (C) 9.09 (D) 22.54

+2
Answers (1)
  1. 21 October, 14:35
    0
    weeks of supply 2,7122857

    Explanation:

    17,500,000 / 50 weeks = 350,000 COGS per week

    current finished inventory:

    250 x $ 65 = 16,250

    190 x $ 80 = 15,200

    310 x $ 105 = 32,550

    Total 64,000

    cost added:

    70,000 materials x $ 2.75

    125,000 materials x $ 5.00

    total 817500

    WIP:

    2,000 rolls x $ 10.50

    5,000 spools x $ 6.75

    500 rolls x $ 26.10

    total $ 67,800

    Total inventory: 817,500 + 67,800 + 64,000 = 949300

    week of supply:

    inventory of 949300

    and 350,000 goods are consumer per week

    week: 2,7122857
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Barrington Mills Manufactures denim cloth from two primary raw materials, cotton and dye. Work-in-process includes lapped cotton, spun ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Kelsey is formatting a 30-page proposal and wants to make it easier for reader to navigate the sections. what can add in the document to achieve this?
Answers (2)
Josef is something of a cheerleader around his team. He shares his vision and expresses his confidence in his team's ability to achieve his vision.
Answers (1)
Suppose you are going to receive $14,000 per year for five years. The appropriate interest rate is 7 percent. a-1.
Answers (1)
g This year Jacob Verytall signs a "Fifty Million Dollar" contract with the Mission City Muckrakers, a new basketball team. Hewill be paid $10 million per year over the next 5 years beginning next year.
Answers (1)
A monopoly finds that, at its present level of output and sales, marginal revenue equals $5 and marginal cost is $4.10 which of the following will maximize profits?
Answers (1)
New Questions in Business
E. If the market price of wheat instead falls to $20.00 per bushel, how much wheat will Ali choose to produce per month in order to maximize his profits in the short run?
Answers (1)
Constantine purchased 100 shares of IBM stock several years ago for $150 per share. The price of these shares has fallen to $55 per share. Constantine's investment strategy is "buy low, sell high.
Answers (2)
An interest rate that remains the same throughout the entire loan repayment period
Answers (1)
Which of the following statements is consistent with the ideas that W. Edwards Deming promoted regarding quality management? a. Understanding variation is essential to improving quality b.
Answers (1)
In a recent annual report, Fourth Wall Inc. (formerly Greencube) disclosed that 61,700,000 shares of common stock have been authorized.
Answers (1)
Home » Business » Barrington Mills Manufactures denim cloth from two primary raw materials, cotton and dye. Work-in-process includes lapped cotton, spun yarn, and undyed cloth, while finished goods includes three grades of dyed cloth.
Sign Up Forgot Password?