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Direct materials purchases, Direct labor cost and factory overhead cost budgets are prepared based on the production budget Comment if you face any issues |
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LignmentSessionLoca Calculator The production budgets are used to prepare which of the following budgets? a. sales...
1. Operating Budgets (50 points) Lubriderm Corporation has the following budgeted unit sales for the next...
1. Operating Budgets (50 points) Lubriderm Corporation has the following budgeted unit sales for the next six-month period: Month June July August September October November Unit Sales 90,000 120,000 210,000 150,000 180,000 120,000 There were 30,000 units of finished goods in inventory at the beginning of June. Plans are to have an inventory of finished products that equal 20% of the unit sales for the next month. Five pounds of materials are required for each unit produced. Each pound of...
1. Operating Budgets (50 points) Lubriderm Corporation has the following budgeted unit sales for the next...
1. Operating Budgets (50 points) Lubriderm Corporation has the following budgeted unit sales for the next six-month period: Month June July August September October November Unit Sales 90,000 120,000 210,000 150,000 180,000 120,000 There were 30,000 units of finished goods in inventory at the beginning of June. Plans are to have an inventory of finished products that equal 20% of the unit sales for the next month. Five pounds of materials are required for each unit produced. Each pound of...
Required information Ramos Co. provides the following sales forecast and production budget for the next four mont...
Required information Ramos Co. provides the following sales forecast and production budget for the next four months: July April May 670 June Sales (units) Budgeted production (units) 590 620 690 530 660 630 630 The company plans for finished goods inventory of 210 units at the end of June. In addition, each finished unit requires 5 pounds of direct materials and the company wants to end each month with direct materials inventory equal to 30 % of next month's production...
Explain each of the operating budgets, sales, production, direct materials, direct labor, manufacturing overhead, cost of...
Explain each of the operating budgets, sales, production, direct materials, direct labor, manufacturing overhead, cost of goods sold, and selling and administrative expenses.
Prepare the following budgets for August
Morganton Company makes one product and it provided the following information to help prepare the master budget:a. The budgeted selling price per unit is $70. Budgeted unit sales for June, July, August, and September are 8,400, 10,000, 12,000, and 13,000 units, respectively. All sales are on credit.b. Forty percent of credit sales are collected in the month of the sale and 60% in the following month.c. The ending finished goods inventory equals 20% of the following month’s unit sales.d. The...
Which of the following budgets is not directly associated with the production budget? a. sales budget...
Which of the following budgets is not directly associated with the production budget? a. sales budget b. direct labor cost budget c. capital expenditures budget d. direct materials purchase budget
nmentSessionLocator-assignment-take&inprogress=false Calculator A business operated at 100% of capacity during its first month, with the following...
nmentSessionLocator-assignment-take&inprogress=false Calculator A business operated at 100% of capacity during its first month, with the following results: Sales (96 units) $480,000 $60,000 15,000 Production costs (120 units): Direct materials Direct labor Variable factory overhead Fixed factory overhead Operating expenses: Variable operating expenses 27,000 24,000 126,000 $5,150 3,240 Fixed operating expenses 8,390 The amount of operating income that would be reported on the variable costing income statement is Oa. $366,010 Ob. $479,880 Oc. $471,610 Od. $393,250
13. Which of the following budgets is not directly associated with the production budget? a. direct materials purch...
13. Which of the following budgets is not directly associated with the production budget? a. direct materials purchases budget 02 b. sales budget c. capital expenditures budget d. direct labor cost budget
34. Which of the following is part of factory overhead cost? a. sales commissions b. depreciation of f...
34. Which of the following is part of factory overhead cost? a. sales commissions b. depreciation of factory equipment and machines c. depreciation of sales person's vehicle d. direct materials used ANSWER: b 35. Which of the following manufacturing costs is an indirect cost of producing a product? a. oil lubricants used for factory machinery b. commissions for sales personnel c. hourly wages of an assembly worker d. memory chips for a microcomputer manufacturer 36. All of the following could...
Budgeted Income Statement and Supporting Budgets The budget director of Birds of a Feather Inc., with...
Budgeted Income Statement and Supporting Budgets The budget director of Birds of a Feather Inc., with the assistance of the controller, treasurer, production manager, and sales manager, has gathered the following data for use in developing the budgeted income statement for January: a. Estimated sales for January: Birdhouse 6,000 units at $55 per unit Bird feeder 4,500 units at $75 per unit b. Estimated inventories at January 1: Direct materials: Wood 220 ft. Plastic 250 lb. Finished products: Birdhouse 300...
1. Operating Budgets (50 points) Lubriderm Corporation has the following budgeted unit sales for the next six-month period: Month June July August September October November Unit Sales 90,000 120,000 210,000 150,000 180,000 120,000 There were 30,000 units of finished goods in inventory at the beginning of June. Plans are to have an inventory of finished products that equal 20% of the unit sales for the next month. Five pounds of materials are required for each unit produced. Each pound of...
1. Operating Budgets (50 points) Lubriderm Corporation has the following budgeted unit sales for the next six-month period: Month June July August September October November Unit Sales 90,000 120,000 210,000 150,000 180,000 120,000 There were 30,000 units of finished goods in inventory at the beginning of June. Plans are to have an inventory of finished products that equal 20% of the unit sales for the next month. Five pounds of materials are required for each unit produced. Each pound of...
Required information Ramos Co. provides the following sales forecast and production budget for the next four months: July April May 670 June Sales (units) Budgeted production (units) 590 620 690 530 660 630 630 The company plans for finished goods inventory of 210 units at the end of June. In addition, each finished unit requires 5 pounds of direct materials and the company wants to end each month with direct materials inventory equal to 30 % of next month's production...
nmentSessionLocator-assignment-take&inprogress=false Calculator A business operated at 100% of capacity during its first month, with the following results: Sales (96 units) $480,000 $60,000 15,000 Production costs (120 units): Direct materials Direct labor Variable factory overhead Fixed factory overhead Operating expenses: Variable operating expenses 27,000 24,000 126,000 $5,150 3,240 Fixed operating expenses 8,390 The amount of operating income that would be reported on the variable costing income statement is Oa. $366,010 Ob. $479,880 Oc. $471,610 Od. $393,250
13. Which of the following budgets is not directly associated with the production budget? a. direct materials purchases budget 02 b. sales budget c. capital expenditures budget d. direct labor cost budget
Budgeted Income Statement and Supporting Budgets The budget director of Birds of a Feather Inc., with the assistance of the controller, treasurer, production manager, and sales manager, has gathered the following data for use in developing the budgeted income statement for January: a. Estimated sales for January: Birdhouse 6,000 units at $55 per unit Bird feeder 4,500 units at $75 per unit b. Estimated inventories at January 1: Direct materials: Wood 220 ft. Plastic 250 lb. Finished products: Birdhouse 300...
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