Homework Answers
| December | |
| Budgeted sales unit | 30000 |
| Add: Required ending inventory (40000*10%) | 4000 |
| Less: Beginning inventory (30000*10%) | (3000) |
| Units need to be produced in December | 31,000 |
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The Johnston Company had the following costs based on the production and sale of 40,000 units:...
The Johnston Company had the following costs based on the production and sale of 40,000 units:...
The Johnston Company had the following costs based on the production and sale of 40,000 units: $0.50 per Direct Materials kg 5kg per Materials unit Direct Other information: The company had the following budgeted sales for December, January, and February: December January February Month Sales (in units) Selling Price per $40/unit $42/unit$43/unit unit 30,000 40,000 50,000 The company has a policy of always maintaining the following inventory levels: Finished Goods Inventory 10% of next month's sales. Direct Materials Inventory 30%...
PUNT The Johnston Company had the following costs based on the production and sale of 40,000...
PUNT The Johnston Company had the following costs based on the production and sale of 40,000 units: Direct $0.50 per Materials kg Direct 5kg per Materials unit Other information: The company had the following budgeted sales for December, January, and February: Month December January February Sales (in 30,000 40,000 50,000 units) Selling Price per $40/unit $42/unit$43/unit unit The company has a policy of always maintaining the following inventory levels: Finished Goods Inventory = 10% of next month's sales. Direct Materials...
Alliance Company budgets production of 30,000 units in January and 34,000 units in the February. Each...
Alliance Company budgets production of 30,000 units in January
and 34,000 units in the February. Each finished unit requires 3
pounds of raw material K that costs $3.50 per pound. Each month's
ending raw materials inventory should equal 35% of the following
month's budgeted materials. The January 1 inventory for this
material is 31,500 pounds. What is the budgeted materials needed in
pounds for January?
Multiple Choice
94,200 pounds.
90,000 pounds.
58,500 pounds.
125,700 pounds.
67,200 pounds.
Chocolate Co. reports...
3. Garver Industries has budgeted the following unit sales: 2018 Units 12,000 8,500 10,000 January February...
3. Garver Industries has budgeted the following unit sales: 2018 Units 12,000 8,500 10,000 January February March April 11,000 15,000 May The finished goods units on hand on December 31, 2017, was 3,000 units. Each unit requires 3 pounds of raw materials that are estimated to cost an average of $5 per pound. It is the company's policy to maintain a finished goods inventory at the end of each month equal to 25% of next month's anticipated sales. They also...
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...
A sales budget is given below for one of the products manufactured by the Key Co. 21,000 36,000 61,000 41,000 31,000 un...
A sales budget is given below for one of the products manufactured by the Key Co. 21,000 36,000 61,000 41,000 31,000 units January February March units units April Мay units units The inventory of finished goods at the end of each month should equal 20% of the next month's sales. On December 31 the finished goods ending inventory totaled 4,000 units. Each unit of product requires three specialized electrical switches. The company has a policy of maintaining an ending inventory...
company is preparing its budget for 2019. the company has collected the following information from the...
company is preparing its budget for 2019. the company has collected the following information from the managers. 1. sales: sales for November 2018 112,500 units sales for the December 2018 102,100 units Expected sales for January 2019 113,000 units Expected sales for February 2019 112,500 units Expected sales for March 2019 116,000 units Expected sales for April 2019 125,000 units Expected sales for May 2019 137,500 units Selling price unit $12 The company likes to keep 15% of next months...
XX Ltd is preparing its budget for 2019. The company has collected the following information from...
XX Ltd is preparing its budget for 2019. The company has collected the following information from the managers, 1. Sales: Sales for November 2018 Sales for December 2018 Expected sales for January 2019 Expected sales for February 2019 Expected sales for March 2019 Expected sales for April 2019 Expected sales for May 2019 Selling price per unit 112,500 102,100 113,000 112,500 116,000 125,000 137,500 $12 units units units units units units units The company likes to keep 15% of next...
Alton Company has budgeted sales of 30,000 units in January and 60,000 units in February. The...
Alton Company has budgeted sales of 30,000 units in January and 60,000 units in February. The company has 5,000 units of finished goods on hand on January 1. If the company requires an ending inventory equal to 10% of the next month's sales, required production for the month of January should be: A. 30,000 units B. 29,000 units C. 31,000 units D. 41,000 units
The controller of Harrington Company estimates sales and production for the first four months of 2020...
The controller of Harrington Company estimates sales and production for the first four months of 2020 as follows: Sales Production in units January February $32,700 $41,000 1,100 1,400 March $53,400 2,000 April $27,300 2,700 Sales are 40% cash and 60% on account, and 60% of credit sales are collected in the month of the sale. In the month after the sale, 40% of credit sales are collected. It takes 4 kg of direct materials to produce a finished unit, and...
The Johnston Company had the following costs based on the production and sale of 40,000 units: $0.50 per Direct Materials kg 5kg per Materials unit Direct Other information: The company had the following budgeted sales for December, January, and February: December January February Month Sales (in units) Selling Price per $40/unit $42/unit$43/unit unit 30,000 40,000 50,000 The company has a policy of always maintaining the following inventory levels: Finished Goods Inventory 10% of next month's sales. Direct Materials Inventory 30%...
PUNT The Johnston Company had the following costs based on the production and sale of 40,000 units: Direct $0.50 per Materials kg Direct 5kg per Materials unit Other information: The company had the following budgeted sales for December, January, and February: Month December January February Sales (in 30,000 40,000 50,000 units) Selling Price per $40/unit $42/unit$43/unit unit The company has a policy of always maintaining the following inventory levels: Finished Goods Inventory = 10% of next month's sales. Direct Materials...
Alliance Company budgets production of 30,000 units in January
and 34,000 units in the February. Each finished unit requires 3
pounds of raw material K that costs $3.50 per pound. Each month's
ending raw materials inventory should equal 35% of the following
month's budgeted materials. The January 1 inventory for this
material is 31,500 pounds. What is the budgeted materials needed in
pounds for January?
Multiple Choice
94,200 pounds.
90,000 pounds.
58,500 pounds.
125,700 pounds.
67,200 pounds.
Chocolate Co. reports...
3. Garver Industries has budgeted the following unit sales: 2018 Units 12,000 8,500 10,000 January February March April 11,000 15,000 May The finished goods units on hand on December 31, 2017, was 3,000 units. Each unit requires 3 pounds of raw materials that are estimated to cost an average of $5 per pound. It is the company's policy to maintain a finished goods inventory at the end of each month equal to 25% of next month's anticipated sales. They also...
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...
A sales budget is given below for one of the products manufactured by the Key Co. 21,000 36,000 61,000 41,000 31,000 units January February March units units April Мay units units The inventory of finished goods at the end of each month should equal 20% of the next month's sales. On December 31 the finished goods ending inventory totaled 4,000 units. Each unit of product requires three specialized electrical switches. The company has a policy of maintaining an ending inventory...
XX Ltd is preparing its budget for 2019. The company has collected the following information from the managers, 1. Sales: Sales for November 2018 Sales for December 2018 Expected sales for January 2019 Expected sales for February 2019 Expected sales for March 2019 Expected sales for April 2019 Expected sales for May 2019 Selling price per unit 112,500 102,100 113,000 112,500 116,000 125,000 137,500 $12 units units units units units units units The company likes to keep 15% of next...
The controller of Harrington Company estimates sales and production for the first four months of 2020 as follows: Sales Production in units January February $32,700 $41,000 1,100 1,400 March $53,400 2,000 April $27,300 2,700 Sales are 40% cash and 60% on account, and 60% of credit sales are collected in the month of the sale. In the month after the sale, 40% of credit sales are collected. It takes 4 kg of direct materials to produce a finished unit, and...
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