The mcgrath company has prepared a sales budget of 48 comma 000 finished units for a 3-month period. the company has an inventory of 12 comma 000 units of finished goods on hand at december 31 and has a target finished goods inventory of 19 comma 000 units at the end of the succeeding quarter. it takes 3 gallons of direct materials to make one unit of finished product. the company has inventory of 67 comma 000 gallons of direct materials at december 31 and has a target ending inventory of 51 comma 000 gallons at the end of the succeeding quarter. how many gallons of direct materials should mcgrath company purchase during the 3 months ending march 31? select the labels and enter the amounts to calculate the direct materials (gallons) to be purchased. direct material purchases budget for the 3 months ending march 31

Miko willingly admits that she is not an accountant by training. she is concerned that her balance sheet might not be correct. she has provided you with the following additional information. 1. the boat actually belongs to miko, not to skysong, inc.. however, because she thinks she might take customers out on the boat occasionally, she decided to list it as an asset of the company. to be consistent, she also listed as a liability of the corporation her personal loan that she took out at the bank to buy the boat. 2. the inventory was originally purchased for $27,500, but due to a surge in demand miko now thinks she could sell it for $39,600. she thought it would be best to record it at $39,600. 3. included in the accounts receivable balance is $11,000 that miko loaned to her brother 5 years ago. miko included this in the receivables of skysong, inc. so she wouldn’t forget that her brother owes her money. (b) provide a corrected balance sheet for skysong, inc.. (hint: to get the balance sheet to balance, adjust stockholders’ equity.) (list assets in order of liquidity.)