answer in 30 mins and 100% correct answer. Based on the table below, if the holding costs at $15 per unit at the end of every season, how much are the holding costs forFall?PlanningFall33,000530ForecastBeginning inventoryProduction requiredProduction Rate2 Unitsper hourProduction hours requiredAvailable Hours-30 FullTime Workers 8 Hours60 DaysAdditional ProductionHours NeededAvailable Temp Hours perTempNumber of TempsActual Production Hours(FT&Temp)Actual productionActual SalesEnding InventoryWorkers hiredWorkers laid offUnitsUnits32,47016,235144001,8353.8216.2353247029,0003470O $7.200O $487.050$52,050O 57.950

Holding cost refers to the cost incurred by company or business to hold its unsold inventory.

nning Fall 33,000 530 32,470 ecast Units nning inventory duction required duction Rate 2 Units Units hour 2 duction hours required alable Hours-30 Full me Workers8 Hours 16,235 Days 14400 ditional Production urs Needed ailable Temp Hours per mp umber of Temps stual Production Hours T& Temp) ctual production tual Sales nding inventory Workers hired Workers laid off 1835 480 3.82 16,235 32470 29,000 O $7.200 O $487.050

nning Fall 33,000 530 32,470 ecast Units nning inventory duction required duction Rate 2 Units Units hour 2 duction hours required alable Hours-30 Full me Workers8 Hours 16,235 Days 14400 ditional Production urs Needed ailable Temp Hours per mp umber of Temps stual Production Hours T& Temp) ctual production tual Sales nding inventory Workers hired Workers laid off 1835 480 3.82 16,235 32470 29,000 O $7.200 O $487.050

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter2: Basic Managerial Accounting Concepts

Section: Chapter Questions

Problem 39E: Cost Classification Loring Company incurred the following costs last year: Required: 1. Classify...

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