XYZ, Inc. has budgeted sales for the first quarter of the next year to be 40,000...
XYZ, Inc. has budgeted sales for the first quarter of the next year to be 40,000 units. The inventory on hand at the beginning of quarter is 10,000 units. The desired ending inventory is 1000 units. Calculate the budgeted production for the first quarter.
- Hospitality, Inc. has prepared the following direct materials purchases budget:
|
Month |
Budgeted DM Purchases |
|
June |
$68,000 |
|
July |
79,500 |
|
August |
78,700 |
|
September |
77,800 |
|
October |
70,200 |
All purchases are paid for as follows: 10% in the month of purchase, 40% in the following month, and 50% two months after purchase. Calculate total budgeted cash payments made in October for purchases.
Homework Answers
Answer:-
1) Budgeted sales - beginning inventory + desired ending inventory
= 40000-10000+1000
= 31000 units
2)payments in october
October (10%×70200) = 7020
September (40%×77800)=31120
August (50%×78700) = 39350
Total = 7020+31120+39350 = 77490
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