Course Solutions Uncategorized (Answered) : Section 37 Oklahoma Furniture Manufacturer Makes Tables Chairs Selling Price Table 895 Cha Q27986691

(Answered) : Section 37 Oklahoma Furniture Manufacturer Makes Tables Chairs Selling Price Table 895 Cha Q27986691

Section 3.7 The Oklahoma Furniture manufacturer makes tables and chairs. The selling price for each table is $895 and each chair is $85. The labor cost per table is $110 and per chair is $34. The raw material cost per table is $120 and per chair is $27. On May 1, 2012, Oklahoma Furniture has available raw material to produce 70 tables and 250 chairs. Also, on May 1, 2012 the company has assets of a cash balance of $15,000, accounts receivable of $1200, and outstanding inventory of $4000. Their only liability as of May 1, 2102 is 

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