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Accounting for materials

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA MA – FIA FMA › Accounting for materials

  • This topic has 1 reply, 2 voices, and was last updated 10 years ago by John Moffat.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • December 6, 2014 at 8:20 pm #219010
    Oyekemi
    Member
    • Topics: 1
    • Replies: 1
    • ☆

    please help me solve this
    A company manufactures and sells one product which requires 8 kg of raw materials in its manufacture. The budgeted data relating to the next period are as follows:

    Units
    Sales 19,000
    Opening inventory of finished goods 4,000
    Closing inventory of finished goods 3,000

    Kg
    Opening inventory of raw materials 50,000
    Closing inventory of raw materials 53,000
    What is the budgeted raw material purchases for next period?

    December 7, 2014 at 8:38 am #219063
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54760
    • ☆☆☆☆☆

    Production of finished goods = 19.000 + 3,000 – 4,000 = 18,000

    So raw materials needed for production = 18,000 x 8 = 144,000 kg

    Purchases of raw materials = 144,000 + 53,000 – 50,000 = 147,000 kg

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