Homework Answers
Solution
| Material Budget | ||||
| Month | ||||
| January | February | March | 1st Quarter | |
| Budgeted production (units) | 90000 | 95000 | 98000 | 283000 |
| Materials requirements per unit | 1.5 | 1.5 | 1.5 | 1.5 |
| Quantity needed for production | 135000 | 142500 | 147000 | 424500 |
| Plus: Desired end inventory for Dm | 14250 | 14700 | 10000 | 10000 |
| Total quantity needed | 149250 | 157200 | 157000 | 434500 |
| Less: Beginning inventory of DM | 12500 | 14250 | 14700 | 12500 |
| Quantity to be purchased | 136750 | 142950 | 142300 | 422000 |
| Multiplied by : Cost per yard | $ 5.00 | $ 5.00 | $ 5.00 | $ 5.00 |
| Total cost of DM purchases | $ 683,750 | $ 714,750 | $ 711,500 | $ 2,110,000 |
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Eor the Quarter Ended March 31 Month January February March 90,000 95,000 98,000 1st Quarter Units...
sales budget. Direct Materials Budget For the Quarter Ended March 31 Month January February March 90,000...
sales budget. Direct Materials Budget For the Quarter Ended March 31 Month January February March 90,000 95,000 98,000 1st Quarter Units to be produced 1.5 Multiply by: Quantity of DM needed per unit Quantity needed for production Plus: Desired end inventory of DM Total quantity needed Less: Beginning inventory of DM Quantity to purchase Multiply by: Cost per yard Total cost of DM purchases 12,500 5.00 Note: The quantity of production for April is expected to be 100,000 units. The...
EXTRA INFO: Number of planters to be sold January. . . . . .3,900 February. ....
EXTRA INFO:
Number of planters to be sold
January. . . . . .3,900
February. . . . .3,700
March. . . . . . . .3,100
April. . . . . . . . .4,500
May. . . . . . . . .4,900
positive rating upon completion rewarded~
Requirements 1. Prepare a production budget for each month in the first quarter of the year, including production in units for each month and for the quarter. 2. Prepare a...
Garver Industries has budgeted the following unit sales: 2020 January February March April May Units 10,000...
Garver Industries has budgeted the following unit sales: 2020 January February March April May Units 10,000 8,000 9,000 11,000 15,000 The finished goods units on hand on December 31, 2019, was 2,000 units. Each unit requires 3 pounds of raw materials that are estimated to cost an average of $4 per pound. It is the company's policy to maintain a finished goods inventory at the end of each month equal to 20% of next month's anticipated sales. They also have...
Stenback Manufacturing produces self-watering planters for use in upscale retail establishments. Sales projections for the first...
Stenback Manufacturing produces self-watering planters for use in upscale retail establishments. Sales projections for the first five months of the upcoming year show the estimated unit sales of the planters each month to be as follows: (Click the icon to view additional information.) Inventory at the start of the year was 800 planters. The desired inventory of planters at the end of each month should be equal to 25% of the following month's budgeted sales. Each planter requires two pounds...
3. Prena 1. Prepare a schedule of cash collections for January, February, and March, and for...
3. Prena 1. Prepare a schedule of cash collections for January, February, and March, and for the quarter in total. 2. Prepare a production budget. (Hint: Unit sales - Sales in dollars / Selling price per unit.) Prepare a direct materials budget. 4. Prepare a cash payments budget for the direct material purchases from Requirement 3. 5. Prepare a cash payments budget for direct labor. 6. Prepare a cash payments budget for manufacturing overhead costs. 7. Prepare a cash payments...
Trebblehorn Industries has adopted the following sales budget for the first 3 months of 2017. Month...
Trebblehorn Industries has adopted the following sales budget for the first 3 months of 2017. Month Units January 11,000 February 15,000 March 13,000 Management requires 30% of next month sales to be in ending inventory. Each unit requires 5 pounds of raw materials costing $3 per pound. Management wants to have a raw materials inventory at the end of the month equal to 35% of next month's production requirements. April's expected sales are 12,000 with a total of 13,500 required...
Please Do part B Garver Industries has budgeted the following unit sales: 2020 January February March...
Please Do part B
Garver Industries has budgeted the following unit sales: 2020 January February March April May Units 10,000 8,000 9,000 11,000 15,000 The finished goods units on hand on December 31, 2019, was 2,000 units. Each unit requires 3 pounds of raw materials that are estimated to cost an average of $4 per pound. It is the company's policy to maintain a finished goods inventory at the end of each month equal to 20% of next month's anticipated...
Project #2 Sales Projections in Units January February March April May 13.402 45,819 44,164 53,722 52,482...
Project #2 Sales Projections in Units January February March April May 13.402 45,819 44,164 53,722 52,482 Projected Sales Price/Unit $ 450.00 Monthly Projected Selling & Administrative Expenses Variable Cost/Unit $16.00 Fixed Costs $5,519 Production: Desired Ending Inventory Beginning Inventory (new business) 59.0% 0 64.6% Materials Desired Ending Inventory Number of Materials per Unit Projected Cost/Material Unit Beginning Inventory (new business) 11.0 $23.00 0 Direct Labor Time per Unit (in hours) Cost per Hour 1.00 $21.00 Manufacturing Overhead Variable Cost/Unit $5.00...
1) Prepare a schedule of cash collections for ianuary February and March, and for the quarter...
1) Prepare a schedule of cash collections for ianuary February and March, and for the quarter in totall. Use the following format: Quarter 27500 16000 25070 February March 24000 29700 Credit Sales 64400 Total cash collection 71000 33600 100 (2) Prepare a production budget, using the following format January February March 9900 Plus: Der ending investory 210 275 2425 Total needed 10100 11675 12325 Less: Beginning inventory 2000 Units to produce 9850 *Hunt: Units sales Sales in dollars/Seng price per...
Preston Manufacturing produces self-watering planters for use in upscale retail establishments. Sales projections for the first...
Preston Manufacturing produces self-watering planters for use in upscale retail establishments. Sales projections for the first five months of the upcoming year show the estimated unit sales of the planters each month to be as follows: EE (Click the icon to view additional information.) at the start of the year was 640 planters. The desired inventory of planters at the end of each month should be equal to 20% of the following month's budgeted sales. Each planter pylene required or...
sales budget. Direct Materials Budget For the Quarter Ended March 31 Month January February March 90,000 95,000 98,000 1st Quarter Units to be produced 1.5 Multiply by: Quantity of DM needed per unit Quantity needed for production Plus: Desired end inventory of DM Total quantity needed Less: Beginning inventory of DM Quantity to purchase Multiply by: Cost per yard Total cost of DM purchases 12,500 5.00 Note: The quantity of production for April is expected to be 100,000 units. The...
EXTRA INFO:
Number of planters to be sold
January. . . . . .3,900
February. . . . .3,700
March. . . . . . . .3,100
April. . . . . . . . .4,500
May. . . . . . . . .4,900
positive rating upon completion rewarded~
Requirements 1. Prepare a production budget for each month in the first quarter of the year, including production in units for each month and for the quarter. 2. Prepare a...
Garver Industries has budgeted the following unit sales: 2020 January February March April May Units 10,000 8,000 9,000 11,000 15,000 The finished goods units on hand on December 31, 2019, was 2,000 units. Each unit requires 3 pounds of raw materials that are estimated to cost an average of $4 per pound. It is the company's policy to maintain a finished goods inventory at the end of each month equal to 20% of next month's anticipated sales. They also have...
Stenback Manufacturing produces self-watering planters for use in upscale retail establishments. Sales projections for the first five months of the upcoming year show the estimated unit sales of the planters each month to be as follows: (Click the icon to view additional information.) Inventory at the start of the year was 800 planters. The desired inventory of planters at the end of each month should be equal to 25% of the following month's budgeted sales. Each planter requires two pounds...
3. Prena 1. Prepare a schedule of cash collections for January, February, and March, and for the quarter in total. 2. Prepare a production budget. (Hint: Unit sales - Sales in dollars / Selling price per unit.) Prepare a direct materials budget. 4. Prepare a cash payments budget for the direct material purchases from Requirement 3. 5. Prepare a cash payments budget for direct labor. 6. Prepare a cash payments budget for manufacturing overhead costs. 7. Prepare a cash payments...
Trebblehorn Industries has adopted the following sales budget for the first 3 months of 2017. Month Units January 11,000 February 15,000 March 13,000 Management requires 30% of next month sales to be in ending inventory. Each unit requires 5 pounds of raw materials costing $3 per pound. Management wants to have a raw materials inventory at the end of the month equal to 35% of next month's production requirements. April's expected sales are 12,000 with a total of 13,500 required...
Please Do part B
Garver Industries has budgeted the following unit sales: 2020 January February March April May Units 10,000 8,000 9,000 11,000 15,000 The finished goods units on hand on December 31, 2019, was 2,000 units. Each unit requires 3 pounds of raw materials that are estimated to cost an average of $4 per pound. It is the company's policy to maintain a finished goods inventory at the end of each month equal to 20% of next month's anticipated...
Project #2 Sales Projections in Units January February March April May 13.402 45,819 44,164 53,722 52,482 Projected Sales Price/Unit $ 450.00 Monthly Projected Selling & Administrative Expenses Variable Cost/Unit $16.00 Fixed Costs $5,519 Production: Desired Ending Inventory Beginning Inventory (new business) 59.0% 0 64.6% Materials Desired Ending Inventory Number of Materials per Unit Projected Cost/Material Unit Beginning Inventory (new business) 11.0 $23.00 0 Direct Labor Time per Unit (in hours) Cost per Hour 1.00 $21.00 Manufacturing Overhead Variable Cost/Unit $5.00...
1) Prepare a schedule of cash collections for ianuary February and March, and for the quarter in totall. Use the following format: Quarter 27500 16000 25070 February March 24000 29700 Credit Sales 64400 Total cash collection 71000 33600 100 (2) Prepare a production budget, using the following format January February March 9900 Plus: Der ending investory 210 275 2425 Total needed 10100 11675 12325 Less: Beginning inventory 2000 Units to produce 9850 *Hunt: Units sales Sales in dollars/Seng price per...
Preston Manufacturing produces self-watering planters for use in upscale retail establishments. Sales projections for the first five months of the upcoming year show the estimated unit sales of the planters each month to be as follows: EE (Click the icon to view additional information.) at the start of the year was 640 planters. The desired inventory of planters at the end of each month should be equal to 20% of the following month's budgeted sales. Each planter pylene required or...
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