questions 8-15
The beginning cash balance and beginning accounts payable balance are at the beginning of the June month im assuming. I need a quarter totals from July to September.
9. Contribution Margin & 10. Operating Income | ||||||
Particulars | June | July | August | September | October | Per unit |
Units sold | 120,000 | 130,000 | 140,000 | 150,000 | 170,000 | |
Sale price per unit | 15 | 15 | 15 | 15 | 15 | 15.00 |
Sales | 1,800,000 | 1,950,000 | 2,100,000 | 2,250,000 | 2,550,000 | |
Less: | ||||||
Raw material (unit sold *2*3) | 720,000 | 780,000 | 840,000 | 900,000 | 1,020,000 | 6.00 |
Direct labour (unit sold *0.25*10) | 300,000 | 325,000 | 350,000 | 375,000 | 425,000 | 2.50 |
Variable overheads | ||||||
Commission (sales *2%) | 36,000 | 39,000 | 42,000 | 45,000 | 51,000 | 0.30 |
Other expenses (sales *3%) | 54,000 | 58,500 | 63,000 | 67,500 | 76,500 | 0.45 |
Indirect labor (unit sold *0.25*3) | 90,000 | 97,500 | 105,000 | 112,500 | 127,500 | 0.75 |
Indirect material (unit sold *1) | 120,000 | 130,000 | 140,000 | 150,000 | 170,000 | 1.00 |
Utilities (unit sold *0.25*1) | 30,000 | 32,500 | 35,000 | 37,500 | 42,500 | 0.25 |
Maintenance cost (unit sold *0.25*0.50) | 15,000 | 16,250 | 17,500 | 18,750 | 21,250 | 0.13 |
Contribution Margin | 435,000 | 471,250 | 507,500 | 543,750 | 616,250 | 3.63 |
Fixed overheads | ||||||
sales and admin expense | 275,000 | 275,000 | 275,000 | 275,000 | 275,000 | |
Other expense | 75,000 | 75,000 | 75,000 | 75,000 | 75,000 | |
Supervisor salaries | 40,000 | 40,000 | 40,000 | 40,000 | 40,000 | |
Depreciation | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | |
Property taxes | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | |
Insurance | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | |
Fixed maintenance cost | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | |
Net Operating income | 13,000 | 49,250 | 85,500 | 121,750 | 194,250 |
11. Break even sales Dollar | |
Particulars | Amount |
Fixed cost | 422,000 |
Contribution Margin | 3.63 |
Break even sales (units) | 116,253 |
(Fixed cost/contribution margin) | |
Price per unit | 15 |
Break even sales Dollar | 1,743,802 |
12. Sales dollar needed to net operating income $400,000 | |
Particulars | Amount |
Break even sales Dollar | 1,743,802 |
Additional sales required | 1,652,893 |
(400000*15/3.63) | |
Total | 3,396,694 |
13. Ending Accounts receivable | |
Particulars | Amount |
October month sales | 2,550,000 |
Collection in next month | 60% |
Ending Accounts receivable | 1,530,000 |
15. Ending Accounts payable | |
Particulars | Amount |
October month purchase | 1,020,000 |
Payment in next month | 70% |
Ending Accounts payable | 714,000 |
questions 8-15 The beginning cash balance and beginning accounts payable balance are at the beginning of...
Projected unit sales: June sales 120,000, July sales 130,000, August 140,000, September 150,000 and October sales 170,000. Sales price per unit, $15.00 Units in ending inventory each month should equal 10% of next month sales. Raw material required per unit is 2 pounds; cost is $3.00 per lb. Ending inventory required at the end of each month is 5% of next month needs. Direct labor required to produce one units is .25 direct labor hour. The hourly rate is $10.00....
Projected unit sales: June sales 120,000, July sales 130,000, August 140,000, September 150,000 and October sales 170,000. Sales price per unit, $15.00 Units in ending inventory each month should equal 10% of next month sales. Raw material required per unit is 2 pounds; cost is $3.00 per lb. Ending inventory required at the end of each month is 5% of next month needs. Direct labor required to produce one units is .25 direct labor hour. The hourly rate is $10.00....
Projected unit sales: June sales 120,000, July sales 130,000, August 140,000, September 150,000 and October sales 170,000. Sales price per unit, $15.00 Units in ending inventory each month should equal 10% of next month sales. Raw material required per unit is 2 pounds; cost is $3.00 per lb. Ending inventory required at the end of each month is 5% of next month needs. Direct labor required to produce one units is .25 direct labor hour. The hourly rate is $10.00....
1. Projected unit sales: June sales 120,000, July sales 130,000, August 140,000, September 150,000 and October sales 170,000. 2. Sales price per unit, $15.00 3. Units in ending inventory each month should equal 10% of next month sales. 4. Raw material required per unit is 2 pounds; cost is $3.00 per lb. 5. Ending inventory required at the end of each month is 5% of next month needs. 6. Direct labor required to produce one units is .25 direct labor...
Required information The following information applies to the questions displayed below.) 8 of 15 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 $65. Budgeted unit sales for June, July, August, and September are 9,900, 30,00 0, 32,000, and 33,000 units, respectively. All sales are on credit. b. Forty percent of credit sales are collected in the month of the sale and 60% in...
Required information [The following information applies to the questions displayed below.] 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 $65. Budgeted unit sales for June, July, August, and September are 9,900, 30,00 0, 32,000, and 33,000 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....
Required information The following information applies to the questions displayed below.) 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 $65. Budgeted unit sales for June, July, August, and September are 9,900, 30,00 0,32,000, and 33,000 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....
CHEC Required information The following information applies to the questions displayed below) 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 9,100, 22,000, 24,000, and 25,000 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....
Required Information [The following information applies to the questions displayed below.) 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 $60. Budgeted unit sales for June, July, August, and September are 9,200, 23,000, 25,000, and 26,000 units, respectively. All sales are on credit. b. Thirty percent of credit sales are collected in the month of the sale and 70% In the following month c....