2.
Homework Answers
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Budgeted unit to produce = Closing stock + Current months budgeted sales – Opening stock = (next month budgeted sales*ratio of inventory to next month’s sales) + Current months budgeted sales – Opening stock = (E7*F10)+(D7-F12) = (15,000*20%)+(12,000-2,400) = 12,600 Hence the answer is (E7*F10)+(D7-F12) |
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Budgeted direct labor cost = Budgeted unit to produce*Direct labor requirement per units*direct labor rate = D21*D22*D25 = 12,600*2*18 = $ 453,600 Since the data of different months contain in different cell, there is no need of any absolute cell reference. Hence the answer is D21*D22*D25 |
223) Hennagir Corporation makes one product and has provided the following information to help prepare the master bu...
223) Hennagir Corporation makes one product and has provided the following information to help prepare the master budget for the next four months of operations Budgeted selling price per unit $76 Budgeted unit sales (all on credit) January 9,500 February 9.900 March 10,600 April 12,600 Raw materials requirement per unit of output Raw materials cost Direct labor requirement per unit of output Direct labor wage rate 3 pounds $5.00 per pound 2.2 direct labor-hours $18.00 per direct labor-hour Credit sales...
Exercise 9-8 Fuqua Company's sales budget projects unit sales of part 198Z of 11,000 units in...
Exercise 9-8 Fuqua Company's sales budget projects unit sales of part 198Z of 11,000 units in January, 12,600 units in February, and 14,000 units in March. Each unit of part 198Z requires 3 pounds of materials, which cost $3 per pound. Fuqua Company desires its ending raw materials inventory to equal 40% of the next month's production requirements, and its ending finished goods inventory to equal 20% of the next month's expected unit sales. These goals were met at December...
DeWitt Industries has adopted the following production budget for the first 4 months of 2020. Month...
DeWitt Industries has adopted the following production budget for the first 4 months of 2020. Month Units Month Units 5,490 10,470 March January 8,260 April 4,450 February Each unit requires 5 pounds of raw materials costing $2 per pound. On December 31, 2019, the ending raw materials inventory was 10,470 pounds. Management wants to have a raw materials inventory at the end of the month equal to 20% of next month's production requirements. Prepare a direct materials purchases budget by...
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...
Learning Objective 3 $22-3 Preparing an operating budget-sales budget Brown Company manufactures luggage sets. Brown sells...
Learning Objective 3 $22-3 Preparing an operating budget-sales budget Brown Company manufactures luggage sets. Brown sells its luggage sets to depart- ment stores. Brown expects to sell 1,700 luggage sets for $180 each in January and 2,050 luggage sets for $180 each in February. All sales are cash only. Prepare the sales budget for January and February S22-4 Preparing an operating budget-production budget Bailey Company expects to sell 1,500 units of finished product in January and 1,750 units in February....
PA8-4 Preparing Operating Budget Components [LO 8-3a, b, c, d Wesley Power Tools manufactures a wide...
PA8-4 Preparing Operating Budget Components [LO 8-3a, b, c, d Wesley Power Tools manufactures a wide variety of tools and accessories. One of its more popular items is a cordless power handisaw. Each handisaw sells for $58. Wesley expects the following unit sales: 5,000 5.200 5,700 5,500 4,900 January February March April May Wesley's ending finished goods inventory policy is 25 percent of the next month's sales. Suppose each handisaw takes approximately 60 hours to manufacture, and Wesley pays an...
PA8-4 Preparing Operating Budget Components [LO 8-3a, b, c, d] Wesley Power Tools manufactures a wide...
PA8-4 Preparing Operating Budget Components [LO 8-3a, b, c, d] Wesley Power Tools manufactures a wide variety of tools and accessories. One of its more popular items is a cordless power handsaw. Each handsaw sells for $36 Wesley expects the following unit sales: 2 800 3.000 January February March Agri 3.300 2700 Wesley's ending finished goods inventory policy is 20 percent of the next month's sales Suppose each handisaw takes approximately 75 hours to manufacture, and Wesley pays an average...
1. The DL budget, S&A budget, unit cost and budgeted income statement: P.S. Corporation makes one...
1. The DL budget, S&A budget, unit cost and budgeted income statement: P.S. Corporation makes one product and it provided the following information to help prepare the master budget for the next four months of operations: The budgeted selling price per unit is $120. Budgeted unit sales for January, February, March, April and May are 4,200; 4,400; 5,000; 4,800; and 5,100 units, respectively. All sales are on credit. Regarding credit sales, 20% are collected in the month of the sale...
1. The DL budget, S&A budget, unit cost and budgeted income statement: P.S. Corporation makes one...
1. The DL budget, S&A budget, unit cost and budgeted income statement: P.S. Corporation makes one product and it provided the following information to help prepare the master budget for the next four months of operations: The budgeted selling price per unit is $120. Budgeted unit sales for January, February, March, April and May are 4,200; 4,400; 5,000; 4,800; and 5,100 units, respectively. All sales are on credit. Regarding credit sales, 20% are collected in the month of the sale...
The production budget is typically prepared before the direct materials budget. True or False True False...
The production budget is typically prepared before the direct materials budget. True or False True False Petrini Corporation makes one product and it provided the following information to help prepare the master budget for the next four months of operations: a. The budgeted selling price per unit is $110. Budgeted unit sales for January, February, March, and April are 7,500, 10,600, 12,000, and 11,700 units, respectively. All sales are on credit. b. Regarding credit sales, 30% are collected in the...
223) Hennagir Corporation makes one product and has provided the following information to help prepare the master budget for the next four months of operations Budgeted selling price per unit $76 Budgeted unit sales (all on credit) January 9,500 February 9.900 March 10,600 April 12,600 Raw materials requirement per unit of output Raw materials cost Direct labor requirement per unit of output Direct labor wage rate 3 pounds $5.00 per pound 2.2 direct labor-hours $18.00 per direct labor-hour Credit sales...
Exercise 9-8 Fuqua Company's sales budget projects unit sales of part 198Z of 11,000 units in January, 12,600 units in February, and 14,000 units in March. Each unit of part 198Z requires 3 pounds of materials, which cost $3 per pound. Fuqua Company desires its ending raw materials inventory to equal 40% of the next month's production requirements, and its ending finished goods inventory to equal 20% of the next month's expected unit sales. These goals were met at December...
DeWitt Industries has adopted the following production budget for the first 4 months of 2020. Month Units Month Units 5,490 10,470 March January 8,260 April 4,450 February Each unit requires 5 pounds of raw materials costing $2 per pound. On December 31, 2019, the ending raw materials inventory was 10,470 pounds. Management wants to have a raw materials inventory at the end of the month equal to 20% of next month's production requirements. Prepare a direct materials purchases budget by...
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...
Learning Objective 3 $22-3 Preparing an operating budget-sales budget Brown Company manufactures luggage sets. Brown sells its luggage sets to depart- ment stores. Brown expects to sell 1,700 luggage sets for $180 each in January and 2,050 luggage sets for $180 each in February. All sales are cash only. Prepare the sales budget for January and February S22-4 Preparing an operating budget-production budget Bailey Company expects to sell 1,500 units of finished product in January and 1,750 units in February....
PA8-4 Preparing Operating Budget Components [LO 8-3a, b, c, d Wesley Power Tools manufactures a wide variety of tools and accessories. One of its more popular items is a cordless power handisaw. Each handisaw sells for $58. Wesley expects the following unit sales: 5,000 5.200 5,700 5,500 4,900 January February March April May Wesley's ending finished goods inventory policy is 25 percent of the next month's sales. Suppose each handisaw takes approximately 60 hours to manufacture, and Wesley pays an...
PA8-4 Preparing Operating Budget Components [LO 8-3a, b, c, d] Wesley Power Tools manufactures a wide variety of tools and accessories. One of its more popular items is a cordless power handsaw. Each handsaw sells for $36 Wesley expects the following unit sales: 2 800 3.000 January February March Agri 3.300 2700 Wesley's ending finished goods inventory policy is 20 percent of the next month's sales Suppose each handisaw takes approximately 75 hours to manufacture, and Wesley pays an average...
The production budget is typically prepared before the direct materials budget. True or False True False Petrini Corporation makes one product and it provided the following information to help prepare the master budget for the next four months of operations: a. The budgeted selling price per unit is $110. Budgeted unit sales for January, February, March, and April are 7,500, 10,600, 12,000, and 11,700 units, respectively. All sales are on credit. b. Regarding credit sales, 30% are collected in the...
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