January | February | March | April | May | ||||
Production | ||||||||
units sold | 8,000 | 10,000 | 15,000 | 12,000 | 11,000 | |||
Ending finished goods inventory in units (next month's units sold * 15%) | 400 | 1,500 | 2,250 | 1,800 | 1,650 | |||
Total needed | 9,500 | 12,250 | 16,800 | 13,650 | ||||
Less: Beginning finished goods inventory | 400 | 1,500 | 2,250 | 1,800 | ||||
Units To Produced | 9,100 | 10,750 | 14,550 | 11,850 | ||||
Units To Produced | 9,100 | 10,750 | 14,550 | 11,850 | ||||
Material required for Production of finished goods (unit produced *1.20) | 10,920 | 12,900 | 17,460 | 14,220 | ||||
ending raw material ( Next month's Material required for Production of finished goods * 25%) | 1,000 | 3,225 | 4,365 | 3,555 | ||||
Beginning raw material ( Same month's Material required for Production of finished goods * 10%) | 1,000 | 3,225 | 4,365 |
Estimated Production units | ||||
January | February | March | Quarter | |
Units sold | 8,000 | 10,000 | 15,000 | 33,000 |
Add: ending finished goods inventory | 1,500 | 2,250 | 1,800 | 1,800 |
Total needed | 9,500 | 12,250 | 16,800 | 34,800 |
Less: Beginning finished goods inventory | 400 | 1,500 | 2,250 | 400 |
Units To Produced | 9,100 | 10,750 | 14,550 | 34,400 |
Material Budget | ||||
January | February | March | Quarter | |
Units To Produced | 9,100 | 10,750 | 14,550 | 34,400 |
Multiply: Quantity of raw material Needed per unit | 1.20 | 1.20 | 1.20 | 1.20 |
Material required for Production of finished goods | 10,920 | 12,900 | 17,460 | 41,280 |
Add: ending raw material inventory | 3,225 | 4,365 | 3,555 | 3,555 |
Total quantity of material Needed | 14,145 | 17,265 | 21,015 | 44,835 |
Less: Beginning raw material inventory | 1,000 | 3,225 | 4,365 | 1,000 |
Purchase of material Quantity | 13,145 | 14,040 | 16,650 | 43,835 |
Multiply by: cost per board Feet | $ 2 | $ 2 | $ 2 | $ 2 |
Cost of material purchased | $ 26,290 | $ 28,080 | $ 33,300 | $ 87,670 |
Budgeted Labor Cost | ||||
January | February | March | Quarter | |
Unit produced | 9,100 | 10,750 | 14,550 | 34,400 |
Multiply: Hour per unit | 0.25 | 0.25 | 0.25 | 0.25 |
Total Hour need | 2,275 | 2,688 | 3,638 | 8,600 |
Multiply: labour rate per hour | $ 12 | $ 12 | $ 12 | $ 12 |
Direct labor cost | $ 27,300 | $ 32,250 | $ 43,650 | $ 103,200 |
i need a Diresct material and Direct Labor budget (seperate budgets) thank you so much!!!! The 1. December 31, 20Xx, balance sheet for the company follows. DYB-ASPORA, Inoorporated Balance She...
For December 31, 20XX, the balance sheet of the Gardner Corporation is as follows Balance Sheet Liabilities Current Assets $19,200 Accounts payable 10,000 Notes payable 28,000 Bonds payable 14,300 Cash $16,100 25,500 50,600 Accounts receivable Inventory Prepaid expenses Capital Assets Shareholders' Equity $75,000 132,900 Plant and equipment (gross) Less: Accumulated amortization $283,000 54,400 Retained earnings Common stock Net plant and equipment 228,600 Total assets $300,100 Total liabilities and shareholders' equity $300,100 Sales for 20XY were $302,000, with cost of goods sold being...
Really confused because the professor did not teach us on it the professor said read the book if you have questions (Master Budget Preparation) You have been hired by the McClosky Corporation and they manufacture industrial dye. The company is preparing its 20X9 master budget and has presented you with the following information: A. The projected December 31, 2018, balance sheet for the company is as follows: Assets Cash $ 6,080 Accounts Receivable 29,500 Raw Materials Inventory 1,000 Finished Goods...
please please please I need the answer for balance sheet as of March 31 ASSETS: Cash Accounts receivable, net of allowance Raw Materials Inventory Finished Goods Inventory Total Current Assets Property, plant, and equipment Less: Accumulated Depreciation Property, plant, and equipment, net Total assets SHAREHOLDERS AND EQUITY: Accounts payable Income Tax Liability Interest payable Other current liabilities (line-of-credit) Total Liabilities Stockholders' equity Retained Earnings Total liabilities and stockholders' equity Cash $4,650.00, Accounts receivable, net $57,600.00, Inventory $15,600.00; Property, plant, and...
Direct Labor Budget For the Year Ended December 31, 2019 First Second Third Quarter Quarter Quarter Fourth Quarter Total Direct labor hours needed for production Budgeted direct labor cost i - X More Info (Unless otherwise noted, assume all of the following events occurred during 2018 and that any balances given are stated as of December 31, 2018.) a. Budgeted sales are 1,100 tires for the first quarter and expected to increase by 250 tires per quarter. Cash sales are...
will give thumbs up, thank you! ABC CORP BALANCE SHEET December 31, 2010 $100 Cash 0 Marketable Securities 2,000 Accounts Receivables 140 Inventory Fixed Assets Lnet) 2,000 Total Assets $2,380 Accounts Payable 0 Notes Payable Retained earnings 1400 Common Stock Total of Both Liabilities & Equity For the year ended 12/31/10 ABC CORP generated Sales of $12,000 and Net Income of $120. The net profit margin this year is considered normal by ABC CORP. Cost of Goods Sold was $8,400...
Lurch Company’s December 31, 2015, balance sheet follows: Lurch Company Balance Sheet December 31, 2015 1 Assets 2 Cash $540,000.00 3 Inventory 450,000.00 4 Prepaid rent 60,000.00 5 Machine $500,000.00 6 Less: Accumulated depreciation (135,000.00) 365,000.00 7 $1,415,000.00 8 9 Liabilities and Equity 10 Accounts payable $400,000.00 11 Common stock, $10 par 300,000.00 12 Additional paid-in capital 515,000.00 13 Retained earnings 200,000.00 14 $1,415,000.00 During 2016, the following transactions occurred: 1. To avoid...
How do I prepare a direct labor budget that is similar to Illustration 22.11 of the textbook. (illustration included below) (Please show how you calculated the budget, and round to the nearest hour.) Illustration 22.11 below H C D E F G Serious Business, Inc. The company is preparing its budget for the coming year, 2020. The first step is to plan for the FIRST QUARTER of that 2 coming year. The following information has been gathered from their managers...
Mynor Company Balance Sheet As of December 31, 2019 Assets Liabilities & Owners’ Equity Current Assets Current Liabilities Cash $ 31,400 A/P $ 77,900 A/R 65,000 Raw Materials 19,500 Owners’ Equity Finished Goods 128,820 Common Stock $125,000 Total Current Assets $244,720 Retained Earnings 520,000 Long Term Assets PP&E $922,180 Total Owners’Equity 645,000 Accum Deprec (444,000) Net PPE 478,180 Total Assets $722,900 Total Liabs & Owners Equity $722,900 ======= ======= 1. Sales projections for the 2020 are: 1st Quarter 70,000 units Each unit sells for $17 and is sold on account. 2nd Quarter 60,000 units Cash collections are 80% in the month of sale 3rd Quartet 90,000 units and 20% in the following...
PLEASE PLEASE I NEED ANSWER FOR BALANCE SHEET AS OF MARCH 31 Cash $4,650.00, Accounts receivable, net $57,600.00, Inventory $15,600.00; Property, plant, and equipment, net $121,500.00; Accounts payable $42,800.00; Capital stock $124,500.00; Retained earnings $22,800.00 A: Actual Sales in December were$72,000. Selling price per unit projected to remain stable at $12 per unit throughout the budget period. Sales for the first five months of the upcoming year are budgeted to be as follow: January $ 104,400 , February $...
PLEASE PLEASE I NEED ANSWER FOR BALANCE SHEET AS OF MARCH 31 Cash $4,650.00, Accounts receivable, net $57,600.00, Inventory $15,600.00; Property, plant, and equipment, net $121,500.00; Accounts payable $42,800.00; Capital stock $124,500.00; Retained earnings $22,800.00 A: Actual Sales in December were$72,000. Selling price per unit projected to remain stable at $12 per unit throughout the budget period. Sales for the first five months of the upcoming year are budgeted to be as follow: January $ 104,400 , February $...