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Question (Category: homework)
Dinarsquos Dress Company has forecast its sales in units as follows: January-1000 February-800 March-900 April-1400 May-1556 Dina always keeps an ending inventory equal to 120% of the next monthrsquos expected sales. The ending inventory for December (Januaryrsquos beginning inventory) is 1,200 units, which is consistent with this policy. Materials cost $14 per unit and are paid for in the month after production. Labor cost is $7 per unit and is paid in the month the cost is incurred. Overhead costs are $8,000 per month. Interest of $10,000 is scheduled to be paid in March, and employee bonuses of $15,500 will be paid in June. Prepare a monthly summary of cash payments for January through April. Dina produced 800 units in December.

Answer by Matt D. (Purchased 2 times and rated )