Business, 29.03.2021 09:00 jadenriley8129
D’Unique Enterprise, a company that manufactures hair growth oil is preparing for its upcoming financial year (2021). D’Unique’ is seeking a loan from JNT Bank to purchase equipment that will be used to package the oils in anticipation of sales. The loans officer at the bank is requesting the company’s upcoming financial year’s budget to assess their cash position to repay the loan
C. Direct material
Each bottle of hair growth oil requires four ounces of liquid which cost $3.50 per ounce.
The company wants to maintain an ending inventory of raw materials equal to 10% of the next quarter’s production requirements. Ending inventory of raw material for the fourth quarter of 2020 will be 1,520 ounces.
Payments to suppliers for the purchase of direct material are done in two tranches - 70% in the quarter of purchase and 30% the quarter following purchase. Accounts payable of $10,600 at December 31, 2020, is expected to be paid in full in the first quarter of 2021.
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D’Unique Enterprise, a company that manufactures hair growth oil is preparing for its upcoming finan...
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