Use the following table to complete the budget sheet. Please help me solve this question, thank you!!!
Homework Answers
| Perkey Turkey Jerkey, LCC | ||||
| Production Budget | ||||
| For the Quarter ending 30, June 2018 | ||||
| April | May | June | Total | |
| Budgeted Sales Units | 10,000 | 12,000 | 15,000 | 37,000 |
| Add: Desired Ending Inventory | 2,400 | 3,750 | 3,750 | 3,750 |
| Total units needed | 12,400 | 15,750 | 18,750 | 40,750 |
| Less: Beginning Finished Inventory | 3,750 | 2,400 | 3,750 | 3,750 |
| Required Production in units | 8,650 | 13,350 | 15,000 | 37,000 |
| Ending Inventory = 20%, 25% and 30% of next month sales | ||||
| It is assumed that the ending inventory of March or beg. inventory of April is 3,750 units. | ||||
| Perkey Turkey Jerkey, LCC | ||||
| Direct Labor Budget | ||||
| For the Quarter ending 30, June 2018 | ||||
| April | May | June | Total | |
| Required Production in units | 8,650 | 13,350 | 15,000 | 37,000 |
| Direct Labor hour per unit | 0.05 | 0.05 | 0.05 | 0.05 |
| Total Direct labor Hours needed | 432.5 | 667.5 | 750 | 1850 |
| Cost per direct labor hour | $ 15 | $ 15 | $ 15 | $ 15 |
| Total Direct labor Cost | $ 6,487.5 | $ 10,012.5 | $ 11,250.0 | $ 27,750.0 |
| Perkey Turkey Jerkey, LCC | ||||
| Manufacturing Overhead Budget | ||||
| For the Quarter ending 30, June 2018 | ||||
| April | May | June | Total | |
| Budgeted direct labor hours | 432.5 | 667.5 | 750.0 | 1,850.0 |
| Variable manufacturing overhead rate | $ 5 | $ 5 | $ 5 | $ 5 |
| Total Direct labor Hours needed | $ 2,162.5 | $ 3,337.5 | $ 3,750.0 | $ 9,250.0 |
| Fixed Manufacturing Overhead | $ 15,000 | $ 15,000 | $ 15,000 | $ 45,000 |
| Total Manufacturing Overhead | $ 17,162.5 | $ 18,337.5 | $ 18,750.0 | $ 54,250.0 |
| Less:Depreciation | $ 10,000.0 | $ 10,000.0 | $ 10,000.0 | $ 30,000.0 |
| Cash Disbursement for Manf. Overhead | $ 7,162.5 | $ 8,337.5 | $ 8,750.0 | $ 24250 |
| Total Manufacturing Overhead | $ 54,250.0 | |||
| Total Budgeted Direct Labor Hours | 1850 | |||
| Predetermined overhead rate of quarter | $ 29.324 | |||
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Use the following table to complete the budget sheet. Please
help me solve this question, thank...
The requirements are to correctly budget the following (this is all the directions and information given)....
The requirements are to correctly budget the following (this is
all the directions and information given). THIS IS ALL THE
INFORMATION I WAS GIVEN.
Perky Turkey Jerky, LLC Balance Sheet March 31, 2018 Assets 22,000.00 9,000.00 2,750.00 14,300.00 Current Assets Cash Accounts Receivable Raw Materials Inventory Finished Goods Inventory Total Current Assets Plant and Equipment Equipment Accumulated Depreciation Plant and Equipment, Net Total Assets 48,050.00 960,000.00 (63,000.00) 897,000.00 945,050.00 7,500.00 100,000.00 Liabilities and Stockholders' Equity Liabilities Accounts Payable Bonds Payable...
Please use the beginning balance sheet and Budgeting Assumptions to complete the cash budget and budgeted...
Please use the beginning balance sheet and Budgeting Assumptions
to complete the cash budget and budgeted income statement. Thank
you!
Balance Sheet March 31, 2018 Assets Current Assets Cash 52,000.00 Accounts Receivable 9,000.00 Raw Materials Inventory (1,100 pounds) Finished Goods Inventory (2,000 units) 2,750.00 14,300.00 Total Current Assets 78,050.00 Plant and Equipment Equipment 930,000.00 Accumulated Depreciation Plant and Equipment, Net (63,000.00) 867,000.00 Total Assets 945,050.00 Liabilities and Stockholders' Equity Liabilities Accounts Payable 7,500.00 Bonds Payable 100,000.00 Stockholders' Equity Common Stock...
Please post on excel spreadsheet to show formula. Thank you Final Answers Here Please Income Statement...
Please post on excel spreadsheet to show formula. Thank you
Final Answers Here Please Income Statement Amounts Other Amounts 5 Units Sold * Selling Price 7 Pounds Per Direct Materials 3 DL Per OH Rate • Current Finished 7 Target Finished 2 Current DM 3 Target DM 4 Cost Per DM 5 Cost Per DL 2,500 $ 100.00 3.00 2.00 $ 15.00 300 200 100 200 $ 5.00 $ 20.00 Sales Direct Materials Direct Labor Overhead Production Budget Direct Materials...
PLEASE HELP! The master budget must be completed using formulas. there must be a sales budget,...
PLEASE HELP! The master budget must be completed using formulas.
there must be a sales budget, production budget, Direct Materials
budget, Direct labor budget, manufacturing overhead budget, selling
and admin budget, budgeted income statement, Schedule of exp
collections, sch of exp payments, sch of exp payments DM, cash
budget, and budgeted balance sheet. please include the formulas you
used.
Purpose: The purpose of this project is to help you practice and reinforce the steps necessary to complete a Master Budget,...
Budget Preparation Collins Company is preparing its master budget for April. Use the given estimates to...
Budget Preparation Collins Company is preparing its master budget for April. Use the given estimates to determine the amounts necessary for each of the following requirements. (Estimates may be related to more than one requirement.) a. What should total sales revenue be if territories A and B estimate sales of 10,000 and 19,000 units, respectively, and the unit selling price is $51? $_______ b. If the beginning finished goods inventory is an estimated 2,000 units and the desired ending inventory...
please use excel equations to answer the income statement amounts and other amounts Final Answers Here...
please use excel equations to answer the income statement
amounts and other amounts
Final Answers Here Please Income Statement Amounts Other Amounts 5 Units Sold * Selling Price 7 Pounds Per Direct Materials 3 DL Per OH Rate • Current Finished 7 Target Finished 2 Current DM 3 Target DM 4 Cost Per DM 5 Cost Per DL 2,500 $ 100.00 3.00 2.00 $ 15.00 300 200 100 200 $ 5.00 $ 20.00 Sales Direct Materials Direct Labor Overhead Production...
Morganton Company makes one product and it provided the following information to help prepare the master budget:
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. c. The ending finished goods inventory equals 20% of the following month's unit sales. d. The...
Need Selling & Administrative Expense Budget, Cash Budget, Budgeted Income Statement for EXCEL. Schedules to include:...
Need Selling & Administrative Expense Budget, Cash Budget,
Budgeted Income Statement for EXCEL.
Schedules to include: a. Sales Budget, with a Schedule of Expected Cash Collections b. Production Budget c. Ending Finished Goods Inventory Budget d. Direct Materials Budget, with a Schedule of Cash Disbursement e. Direct Labor Budget f. Manufacturing Overhead Budget g. Selling & Administrative Expense Budget h. Cash Budget i Budgeted Income Statement Sharp Products is a manufacturing company. It uses absorption costing for budgeting. amount unit...
Please help me with the question,thank you very much! If the pictures are not clear, you...
Please help me with the question,thank you very much!
If the pictures are not clear, you can see these
pictures!!
Here!
3. Clark Company makes and sells artistic frames for pictures of weddings, graduations, and other special events. Ron Jangles, the controller, is responsible for preparing Clark's master budget and has accumulated the following information for 2018 (Click the icon to view some of the financial information.) Click the icon to view additional information) Read the requirements Click the icon...
Please use the table in the picture to help me complete the problem. Thank you！ Waddell...
Please use the table in the picture to help me complete the
problem. Thank you！
Waddell Productions makes separate journal entries for all cost accounting-related activities. It uses a standard cost system for all manufacturing items. For the month of June, the following activities have taken place: $300,000 Direct Manufacturing Materials Purchased Direct Manufacturing Materials Used 250,000 Direct Materials Price Variance 10,000 unfavorable 15,000 favorable (at time of purchase) Direct Materials Efficiency Variance Direct Manufacturing Labor Price Variance Direct Manufacturing...
The requirements are to correctly budget the following (this is
all the directions and information given). THIS IS ALL THE
INFORMATION I WAS GIVEN.
Perky Turkey Jerky, LLC Balance Sheet March 31, 2018 Assets 22,000.00 9,000.00 2,750.00 14,300.00 Current Assets Cash Accounts Receivable Raw Materials Inventory Finished Goods Inventory Total Current Assets Plant and Equipment Equipment Accumulated Depreciation Plant and Equipment, Net Total Assets 48,050.00 960,000.00 (63,000.00) 897,000.00 945,050.00 7,500.00 100,000.00 Liabilities and Stockholders' Equity Liabilities Accounts Payable Bonds Payable...
Please use the beginning balance sheet and Budgeting Assumptions
to complete the cash budget and budgeted income statement. Thank
you!
Balance Sheet March 31, 2018 Assets Current Assets Cash 52,000.00 Accounts Receivable 9,000.00 Raw Materials Inventory (1,100 pounds) Finished Goods Inventory (2,000 units) 2,750.00 14,300.00 Total Current Assets 78,050.00 Plant and Equipment Equipment 930,000.00 Accumulated Depreciation Plant and Equipment, Net (63,000.00) 867,000.00 Total Assets 945,050.00 Liabilities and Stockholders' Equity Liabilities Accounts Payable 7,500.00 Bonds Payable 100,000.00 Stockholders' Equity Common Stock...
Please post on excel spreadsheet to show formula. Thank you
Final Answers Here Please Income Statement Amounts Other Amounts 5 Units Sold * Selling Price 7 Pounds Per Direct Materials 3 DL Per OH Rate • Current Finished 7 Target Finished 2 Current DM 3 Target DM 4 Cost Per DM 5 Cost Per DL 2,500 $ 100.00 3.00 2.00 $ 15.00 300 200 100 200 $ 5.00 $ 20.00 Sales Direct Materials Direct Labor Overhead Production Budget Direct Materials...
PLEASE HELP! The master budget must be completed using formulas.
there must be a sales budget, production budget, Direct Materials
budget, Direct labor budget, manufacturing overhead budget, selling
and admin budget, budgeted income statement, Schedule of exp
collections, sch of exp payments, sch of exp payments DM, cash
budget, and budgeted balance sheet. please include the formulas you
used.
Purpose: The purpose of this project is to help you practice and reinforce the steps necessary to complete a Master Budget,...
please use excel equations to answer the income statement
amounts and other amounts
Final Answers Here Please Income Statement Amounts Other Amounts 5 Units Sold * Selling Price 7 Pounds Per Direct Materials 3 DL Per OH Rate • Current Finished 7 Target Finished 2 Current DM 3 Target DM 4 Cost Per DM 5 Cost Per DL 2,500 $ 100.00 3.00 2.00 $ 15.00 300 200 100 200 $ 5.00 $ 20.00 Sales Direct Materials Direct Labor Overhead Production...
Need Selling & Administrative Expense Budget, Cash Budget,
Budgeted Income Statement for EXCEL.
Schedules to include: a. Sales Budget, with a Schedule of Expected Cash Collections b. Production Budget c. Ending Finished Goods Inventory Budget d. Direct Materials Budget, with a Schedule of Cash Disbursement e. Direct Labor Budget f. Manufacturing Overhead Budget g. Selling & Administrative Expense Budget h. Cash Budget i Budgeted Income Statement Sharp Products is a manufacturing company. It uses absorption costing for budgeting. amount unit...
Please help me with the question,thank you very much!
If the pictures are not clear, you can see these
pictures!!
Here!
3. Clark Company makes and sells artistic frames for pictures of weddings, graduations, and other special events. Ron Jangles, the controller, is responsible for preparing Clark's master budget and has accumulated the following information for 2018 (Click the icon to view some of the financial information.) Click the icon to view additional information) Read the requirements Click the icon...
Please use the table in the picture to help me complete the
problem. Thank you！
Waddell Productions makes separate journal entries for all cost accounting-related activities. It uses a standard cost system for all manufacturing items. For the month of June, the following activities have taken place: $300,000 Direct Manufacturing Materials Purchased Direct Manufacturing Materials Used 250,000 Direct Materials Price Variance 10,000 unfavorable 15,000 favorable (at time of purchase) Direct Materials Efficiency Variance Direct Manufacturing Labor Price Variance Direct Manufacturing...
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