Mscd Homework Blog Urbana

Unformatted text preview: Chapter 8: Budgets 1. Complete the following table: ​ (Enter all values as positive values.) Number of Units Production Sales Ending Inventory Beginning Inventory 550 500 125 75 930 965 90 125 750 710 120 80 900 1200 85 385 805 740 225 160 845 795 290 240 2. Croy Inc. has the following projected sales for the next five months: Month Sales in Units April 3,850 May 3,875 June 4,260 July 4,135 August 3,590 Croy’s finished goods inventory policy is to have 60 percent of the next month’s sales on hand at the end of each month. Direct material costs $3.10 per pound, and each unit requires 2 pounds. Raw materials inventory policy is to have 50 percent of the next month’s production needs on hand at the end of each month. Raw materials on hand at March 31 totaled 3,865 pounds. Required: 1. Determine budgeted production for April, May, and June. April May June Budgeted Production 3865 4106 4185 Determine the budgeted cost of materials purchased for April, May, and June. ​ (Round your answers to 2 decimal places.) 2. April May June Budgeted Cost of Materials Purchased 24,710.10 25702.10 24778.30 3. Martin Clothing Company is a retail company that sells hiking and other outdoor gear specially made for the desert heat. It sells to individuals as well as local companies that coordinate adventure getaways in the desert for tourists. The following information is available for several months of the current year: Month May Sales $ Cash Expenses Paid Purchases 120,000 $ 90,000 $ 24,000 June 115,000 95,000 31,500 July 160,000 150,000 38,250 August 145,000 80,000 34,700 The majority of Martin’s sales (70 percent) are cash, but a few of the excursion companies purchase on credit. Of the credit sales, 40 percent are collected in the month of sale and 60 percent are collected in the following month. All of Martin’s purchases are on account with 55 percent paid in the month of purchase and 45 percent paid the following month. Required: 1. Determine budgeted cash collections for July and August. July August Budgeted Cash Collections 151,900 147,700 2. Determine budgeted cash payments for July and August. July August Budgeted Cash Payments 163,500 146,200 4. Iguana, Inc., manufactures bamboo picture frames that sell for $25 each. Each frame requires 4 linear feet of bamboo, which costs $2.00 per foot. Each frame takes approximately 30 minutes to build, and the labor rate averages $12.00 per hour. Iguana has the following inventory policies: Ending finished goods inventory should be 40 percent of next month’s sales. Ending raw materials inventory should be 30 percent of next month’s production. Expected unit sales (frames) for the upcoming months follow: March 275 April 250 May 300 June 400 July 375 August 425 Variable manufacturing overhead is incurred at a rate of $0.30 per unit produced. Annual fixed manufacturing overhead is estimated to be $7,200 ($600 per month) for expected production of 4,000 units for the year. Selling and administrative expenses are estimated at $650 per month plus $0.60 per unit sold. Required: Compute the following for Iguana, Inc., for the second quarter (April, May, and June). April May June 2nd Quarter Total 1. 7500 10000 23750 Budgeted Production in Units 270 340 390 1000 3. Budgeted Cost of Raw Material Purchases 2328 2840 3132 8300 4. Budgeted Direct Labor Cost 1620 2040 2340 6000 5. Budgeted Manufacturing Overhead 681 702 717 2100 6. Budgeted Cost of Goods Sold. 4025 4830 6440 15295 7. 6250 2. Budgeted Sales Revenue Total Budgeted Selling and Adm. Expenses 800 830 890 2520 ...
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Стратмор медленно повернулся. Он являл собой печальное зрелище. - Это сделаю я, - сказал он, встал и, спотыкаясь, начал выбираться из-за стола.

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