Hall Diamond Brokers is preparing their budgets for 2019 based on the information below. prepare budgets...
Royal Company is preparing budgets for the second quarter ending June 30. Last year's sales for the corresponding period were: A. The company expects this year's sales to increase by 25%. The selling price is $13 per unit. Prepare a Sales Budget. B. The company desires to have finished inventory on hand at the end of each month equal to 30 percent of the following month's budgeted unit sales. On March 31, there were 3,000 units on hand. Prepare a...
E10.18 Prepare quarterly sales budgets. Roche and Young, CPAS, are preparing their service revenue (sales) budget for 2020. Their practice is divided into three departments: auditing, tax, and consulting. Billable hours for each department, by quarter, are as follows: Department Quarter 1 Quarter 2 Quarter 3 Quarter 4 Auditing 2,200 1,600 2,000 2,400 3,000 2,500 Тах 2,400 2,000 Consulting 1,500 1,500 1,500 1,500 Average hourly billing rates are $60 for auditing, $70 for tax, and $80 for consulting services. Instructions...
Check my work Problem 07-1A Manufacturing: Preparing production and manufacturing budgets LO P1 [The following information applies to the questions displayed below.] Part 1 of 4 Black Diamond Company produces snow skis. Each ski requires 2 pounds of carbon fiber. The company's management predicts that 5,000 skis and 6,000 pounds of carbon fiber will be in inventory on June 30 of the current year and that 150,000 skis will be sold during the next (third) quarter. A set of two...
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 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...
Hiking Co ("the company") needs your help with preparing their operating budgets for the coming year. They have asked you to focus on their walking shorts product line for the first quarter of 2020. The projected sales for the first quarter of 2020 and the projected beginning and ending inventory balances are as follows: Unit sales are 10,000 for the quarter. Unit sales price is $25 per unit. Number of units in closing inventory on Dec 31, 2019 is 0...
1 Snare. The following data are available for preparing budgets for Snare for the first 2 quarters of 2020. Sales: quarter 1, 29,400 bags, quarter 2, 42,200 bags. Selling price is $62 per bag Direct materials: each bag of Snare requires 5 pounds of Gumm at a 2 cost of $3.80 per pound and 6 pounds of Tarr at $1.50 per pound. 3. Desired inventory levels: Type of Inventory Snare (bags Gummus) The pounds January 1 April 1 July 1...
Prepare budgeted income statement and supporting budgets. (LO 1, 2, 3) r! Bolivar Farm Supply Company manufactures and sells a fertilizer called Basic II. The following data are available for preparing budgets for Basic Il for the first 2 quarters of 2017. 1. Sales: Quarter 1,40,000 bags; quarter 2.50,000 bags. Selling price is $60 per bag. 2. Direct materials: Each bag of Basic II requires 6 pounds of Crup at a cost of $4 per pound and 10 pounds of...
Sales and Production Budgets Sonic Inc. manufactures two models of speakers, Rumble and Thunder. Based on the following production and sales data for June, prepare (a) a sales budget and (b) a production budget. Rumble Thunder 85 74 Estimated inventory (units), June 1290 Desired inventory (units), June 30 Expected sales volume (units) East Region West Region Unit sales price 3,850 5,650 $100 3,400 6,400 $205 a. Prepare a sales budget. Sonic Inc Sales Budget For the Month Ending June 30...
please solve neatly and clearly. thank you Delcon Inc is preparing it annual budget for 2019. It sells two products as below. The CEO has requested the sales director, production manager & the accounting staff to prepare the budgets - INFORMATION AVAILABLE: Product JB 50 Units S 400,000 $20.00 Product JB 60 Units 20,000 $25.00 2lbs $3.00 3165 $4.00 SALES BUDGET Direct Material per Unit Cost Per Pound Direct Labor Time per unit (as per hour) Direct Labor Rate per...