A company has the following annual budget data: Beginning finished goods inventory 41,000 units Sales 71,000...
A company has the following annual budget data:
| Beginning finished goods inventory | 41,000 | units | ||
| Sales | 71,000 | units | ||
| Ending finished goods inventory | 31,000 | units | ||
| Direct materials | $ | 12 | per unit | |
| Direct labor | $ | 22 | per unit | |
| Variable factory overhead | $ | 6 | per unit | |
| Selling costs | $ | 3 | per unit | |
| Fixed factory overhead | $ | 81,000 | ||
What are total budgeted production costs for the year? (CIA
adapted)
Multiple Choice
-
$2,521,000.
-
$2,582,000.
-
$2,663,000.
-
$2,440,000.
Homework Answers
Answer :- Calculation of total budgeted production costs for the year :-
Total budgeted production cost = 71,000 + 31,000 - 41,000
Total budgeted production cost= 61,000*( $12 + $22 + $6) + $81,000
Total budgeted production cost = $2,440,000 + $81,000
Total budgeted production cost= $2,521,000
So the total budgeted production cost is $2,521,000.
therefore the correct answer is option A. ( $2,521,000)
If you have any query ask in comment section. If you like the answer plz rate. Thanks
Add Answer to:
A company has the following annual budget data:
Beginning finished goods inventory
41,000
units
Sales
71,000...
A company has the following annual budget data: Beginning finished goods inventory 55,000 units Sales 85,000...
A company has the following annual budget data: Beginning finished goods inventory 55,000 units Sales 85,000 units Ending finished goods inventory 45,000 units Direct materials $ 15 per unit Direct labor $ 25 per unit Variable factory overhead $ 8 per unit Selling costs $ 4 per unit Fixed factory overhead $ 95,000 What are total budgeted production costs for the year? (CIA adapted)
A company has the following annual budget data: Beginning finished goods inventory 56,000 units Sales 86,000...
A company has the following annual budget data: Beginning finished goods inventory 56,000 units Sales 86,000 units Ending finished goods inventory 46,000 units Direct materials $ 12 per unit Direct labor $ 24 per unit Variable factory overhead $ 4 per unit Selling costs $ 2 per unit Fixed factory overhead $ 96,000 What are total budgeted production costs for the year? (CIA adapted)
NewLUMELLULITIC HUW/Conecznimi kam Saved Help A company has the following annual budget data: Beginning finished goods...
NewLUMELLULITIC HUW/Conecznimi kam Saved Help A company has the following annual budget data: Beginning finished goods inventory Sales Ending finished goods inventory Direct materials Direct labor Variable factory overhead Selling costs Fixed factory overhead 45,000 units 75,999 units 35,000 units $ 12 per unit $ 24 per unit 5 per unit 3 per unit $85,000 What are total budgeted production costs for the year? (CIA adapted) Multiple Choice 0 $2815.000 0 $2665.000 O 2900.000 $2750.000 < Prev 33 850 Next...
The company plans for finished goods inventory of 220 units at the end of June. In...
The company plans for finished goods inventory of 220 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 20% of next month’s production
needs. Beginning direct materials inventory for April was 540
pounds. Direct materials cost $2 per pound. Each finished unit
requires 0.60 hours of direct labor at the rate of $12 per hour.
The company budgets...
finished goods inventory budget Ending Finished Goods inventory Budget Item Quanity Cost Total pounds production cost...
finished goods inventory budget
Ending Finished Goods inventory Budget Item Quanity Cost Total pounds production cost per case direct materials direct labor manufacturing over head unit product cost Ending Finished Goods inventory Budget Item Quanity Cost Total pounds production cost per case direct materials direct labor manufacturing over head unit product cost Budgeted finished goods inventory: ending finished goods inventory in cases unit product cost endine finished poods inventory in dollars Desired ending FG inventory at year end 12,000 cases...
Ending Finished Goods Inventory Budget Play-Disc makes Frisbee-type plastic discs. Each 12-inch diameter plastic disc has...
Ending Finished Goods Inventory Budget Play-Disc makes Frisbee-type plastic discs. Each 12-inch diameter plastic disc has the following manufacturing costs: Direct materials $1.65 Direct labor 0.60 Variable overhead 0.75 Fixed overhead 1.80 Total unit cost $4.80 For the coming year, Play-Disc expects to make 320,000 plastic discs, and to sell 305,000 of them. Budgeted beginning inventory in units is 20,000 with unit cost of $4.80. (There are no beginning or ending inventories of work in process.) Required: 1. Prepare an...
The following data is provided for Garcon Company and Pepper Company. Beginning finished goods inventory Beginning...
The following data is provided for Garcon Company and Pepper Company. Beginning finished goods inventory Beginning work in process inventory Beginning raw materials inventory (direct materials) Rental cost on factory equipment Direct labor Ending finished goods inventory Ending work in process inventory Ending raw materials inventory Factory utilities Factory supplies used (indirect materials) General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Factory equipment, net Accounts receivable, net Garcon Company $ 13,400 16,000 7,700...
E6-24 (similar to) Question Help The McKnight Company has prepared a sales budget of 41,000 finished...
E6-24 (similar to) Question Help The McKnight Company has prepared a sales budget of 41,000 finished units for a 3-month period. The company has an inventory of 16,000 units of finished goods on hand at December 31 and has a target finished goods inventory of 18,000 units at the end of the succeeding quarter. It takes 2 gallons of direct materials to make one unit of finished product. The company has inventory of 68,000 gallons of direct materials at December...
Sales Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw materials...
Sales Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw materials purchases Direct labor Factory supplies used (indirect materials) Indirect labor Repairs-Factory equipment Rent cost of factory building Advertising expense General and administrative expenses Raw materials inventory, ending Work in process inventory, ending Finished goods inventory, ending $ 1,115,000 36,000 51,600 67,500 158,200 235,000 22, 200 45,000 5,250 57,000 90,000 141,000 48,300 42,400 74,500 DELRAY MFG. Schedule of Cost of Goods Manufactured For Year Ended...
$ Sales Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw...
$ Sales Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw materials purchases Direct labor Factory supplies used (indirect materials) Indirect labor Repairs-Factory equipment Rent cost of factory building Advertising expense General and administrative expenses Raw materials inventory, ending Work in process inventory, ending Finished goods inventory, ending 1,892,000 37,000 54,300 64,100 151,800 248,000 20,900 49,000 5,250 52,000 90,000 134,000 46,300 45,100 69,280 Prepare its schedule of cost of goods manufactured for the current year...
NewLUMELLULITIC HUW/Conecznimi kam Saved Help A company has the following annual budget data: Beginning finished goods inventory Sales Ending finished goods inventory Direct materials Direct labor Variable factory overhead Selling costs Fixed factory overhead 45,000 units 75,999 units 35,000 units $ 12 per unit $ 24 per unit 5 per unit 3 per unit $85,000 What are total budgeted production costs for the year? (CIA adapted) Multiple Choice 0 $2815.000 0 $2665.000 O 2900.000 $2750.000 < Prev 33 850 Next...
The company plans for finished goods inventory of 220 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 20% of next month’s production
needs. Beginning direct materials inventory for April was 540
pounds. Direct materials cost $2 per pound. Each finished unit
requires 0.60 hours of direct labor at the rate of $12 per hour.
The company budgets...
finished goods inventory budget
Ending Finished Goods inventory Budget Item Quanity Cost Total pounds production cost per case direct materials direct labor manufacturing over head unit product cost Ending Finished Goods inventory Budget Item Quanity Cost Total pounds production cost per case direct materials direct labor manufacturing over head unit product cost Budgeted finished goods inventory: ending finished goods inventory in cases unit product cost endine finished poods inventory in dollars Desired ending FG inventory at year end 12,000 cases...
The following data is provided for Garcon Company and Pepper Company. Beginning finished goods inventory Beginning work in process inventory Beginning raw materials inventory (direct materials) Rental cost on factory equipment Direct labor Ending finished goods inventory Ending work in process inventory Ending raw materials inventory Factory utilities Factory supplies used (indirect materials) General and administrative expenses Indirect labor Repairs-Factory equipment Raw materials purchases Selling expenses Sales Cash Factory equipment, net Accounts receivable, net Garcon Company $ 13,400 16,000 7,700...
E6-24 (similar to) Question Help The McKnight Company has prepared a sales budget of 41,000 finished units for a 3-month period. The company has an inventory of 16,000 units of finished goods on hand at December 31 and has a target finished goods inventory of 18,000 units at the end of the succeeding quarter. It takes 2 gallons of direct materials to make one unit of finished product. The company has inventory of 68,000 gallons of direct materials at December...
Sales Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw materials purchases Direct labor Factory supplies used (indirect materials) Indirect labor Repairs-Factory equipment Rent cost of factory building Advertising expense General and administrative expenses Raw materials inventory, ending Work in process inventory, ending Finished goods inventory, ending $ 1,115,000 36,000 51,600 67,500 158,200 235,000 22, 200 45,000 5,250 57,000 90,000 141,000 48,300 42,400 74,500 DELRAY MFG. Schedule of Cost of Goods Manufactured For Year Ended...
$ Sales Raw materials inventory, beginning Work in process inventory, beginning Finished goods inventory, beginning Raw materials purchases Direct labor Factory supplies used (indirect materials) Indirect labor Repairs-Factory equipment Rent cost of factory building Advertising expense General and administrative expenses Raw materials inventory, ending Work in process inventory, ending Finished goods inventory, ending 1,892,000 37,000 54,300 64,100 151,800 248,000 20,900 49,000 5,250 52,000 90,000 134,000 46,300 45,100 69,280 Prepare its schedule of cost of goods manufactured for the current year...
Most questions answered within 3 hours.
-
You have just been hired by the EPA to help with the new gas
mileage standards...
asked 8 minutes ago -
4) A firm is hit by increases in its wage rate, w.
a) How does this...
asked 22 minutes ago -
A square current loop 5.4 cm on each side carries a 510 mA
current. The loop...
asked 2 hours ago -
What are five tips in conducting knowledge assessment/literature
review research? Each of these tips needs to...
asked 3 hours ago -
Antigen presenting cells link innate and adaptive immune
responses. In the theoretical scenario where phagosomes cannot...
asked 3 hours ago -
Dealing with conflict, in my opinion, is a skill and an art. I
believe that those...
asked 3 hours ago -
6. A long straight wire with circular cross section and radius
1.5 cm carries a 1.2...
asked 3 hours ago -
Deacon Corporation has provided the following financial data
from its balance sheet and income statement:
Year...
asked 4 hours ago -
List and discuss at least three variables from everyday life for
which you expect the variable ...
asked 4 hours ago -
A high-pass filter consists of a 1.60 μF capacitor in series
with a 125 Ω resistor....
asked 4 hours ago -
A newly developed artificial intelligence has trouble
distinguishing hand-written numbers from hand-written alphabets.
There are pictures...
asked 5 hours ago -
The carbonate ion CO3 2- has multiple resonance structures.
a. Draw them and assign the hybridization...
asked 4 hours ago