Homework Answers
Correct answer----------$171,619
Working
| Budgeted purchase for November | $ 286,032 |
| Less: paid in November (286032 x 40%) | $ 114,413 |
| Accounts payable at the end of Nuovember | $ 171,619 |
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Um Corporation has provided the following information concerning its raw materials purchases. The budgeted cost of raw...
Marst Corporation's budgeted production in units and budgeted raw materials purchases over the next three months...
Marst Corporation's budgeted production in units and budgeted raw materials purchases over the next three months are given below: 17 Budgeted production (in units) Budgeted raw materials purchases (in pounds) January February March 70,200 ? 81,000 221,160 154,600 159,800 Four pounds of raw materials are required to produce one unit of product. The company wants raw materials on hand at the end of each month equal to 30% of the following month's production needs. The company is expected to have...
Petrini Corporation makes one product and it provided the following information to help prepare the master...
Petrini 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 $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. Regarding credit sales, 30% are collected in the month of the sale and 70% in the following month. The ending finished goods inventory equals 30% of...
l answer only. thanks Petrini Corporation makes one product and it provided the following information to...
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answer only. thanks
Petrini Corporation makes one product and it provided the following information to help prepare the master budget for the next four month a. The budgeted selling price per unit is $110. Budgeted unit sales for January February March, and April are 7,500, 10,000, 12,000, and 11700 units, respectively. All sales are one b. Regarding credit sales, 30% are collected in the month of the sale and 70% in the following month. c. The ending finished goods...
Q1 Marst Corporation's budgeted production in units and budgeted raw materials purchases over the next three...
Q1 Marst Corporation's budgeted production in units and budgeted raw materials purchases over the next three months are given below: January February March Budgeted production (in units) 70,200 ? 81,000 Budgeted raw materials purchases (in pounds) 221,160 154,600 159,800 Four pounds of raw materials are required to produce one unit of product. The company wants raw materials on hand at the end of each month equal to 30% of the following month's production needs. The company is expected to have...
Luchini Corporation makes one product and it provided the following information to help prepare the master budget for th...
Luchini 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 $111. Budgeted unit sales for April, May, June, and July are 7,100, 10,100, 13,300, and 14,000 units, respectively. All sales are on credit. Regarding credit sales, 40% are collected in the month of the sale and 60% in the following month. The ending finished goods inventory equals 10% of...
Hunkins Corporation has provided the following data concerning last month's operations. Purchases of raw materials $33,000...
Hunkins Corporation has provided the following data concerning last month's operations. Purchases of raw materials $33,000 Indirect materials included in manufacturing $ 4,000 overhead Direct labor cost $58,000 Manufacturing overhead applied to Work in Process $91,000 Beginning Ending $ 14,000 $20,000 Raw materials inventory Work in process $ 57,000 $70,000 inventory How much is the cost of goods manufactured for the month on the Schedule of Cost of Goods Manufactured? How much is the cost of goods manufactured for the...
Bottum Corporation, a manufacturing Corporation, has provided date concerning its operations for May. The beginning balance...
Bottum Corporation, a manufacturing Corporation, has provided date concerning its operations for May. The beginning balance in the raw materials account was $29,500 and the ending balance was $55,000, Raw materials purchases during the month totaled $82,000. Manufacturing overhead cost incurred during the month was $120,500, of which $3,900 consisted of raw materials classified as Indirect materials. The direct materials cost for May was: Multiple Choice $52,600 $56,500 $107.500 $82,000
Bottum Corporation, a manufacturing Corporation, has provided data concerning its operations for May. The beginning balance...
Bottum Corporation, a manufacturing Corporation, has provided data concerning its operations for May. The beginning balance in the raw materials account was $28,500 and the ending balance was $53,000. Raw materials purchases during the month totaled $80,000. Manufacturing overhead cost incurred during the month was $119,500, of which $3,700 consisted of raw materials classified as indirect materials. The direct materials cost for May was: Multiple Choice $80,000 $55,500 O $104,500 $51,800
Fuson Corporation makes one product and has provided the following information to help prepare the master...
Fuson 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 $ 118 Budgeted unit sales (all on credit): October 9,600 November 10,100 December 13,700 January 11,300 Raw materials requirement per unit of output 3 pounds Raw materials cost $ 4.00 per pound Direct labor requirement per unit of output 2.7 direct labor-hours Direct labor wage rate $ 23.00 per direct labor-hour...
Shorstein Manufacturing Company purchases raw materials on account each month. Purchases are paid for according to...
Shorstein Manufacturing Company purchases raw materials on account each month. Purchases are paid for according to the following schedule: 30% is paid in the month of the purchase 60% is paid in the month following the purchase 10% is paid in the second month following the purchase Budgeted purchases are as follows: March $75,000 April $90,000 May $85,000 How much will be reported for Accounts Payable for material purchases as of the end of May? $59,500 O $68,500 $87,000 $95,500...
Marst Corporation's budgeted production in units and budgeted raw materials purchases over the next three months are given below: 17 Budgeted production (in units) Budgeted raw materials purchases (in pounds) January February March 70,200 ? 81,000 221,160 154,600 159,800 Four pounds of raw materials are required to produce one unit of product. The company wants raw materials on hand at the end of each month equal to 30% of the following month's production needs. The company is expected to have...
l
answer only. thanks
Petrini Corporation makes one product and it provided the following information to help prepare the master budget for the next four month a. The budgeted selling price per unit is $110. Budgeted unit sales for January February March, and April are 7,500, 10,000, 12,000, and 11700 units, respectively. All sales are one b. Regarding credit sales, 30% are collected in the month of the sale and 70% in the following month. c. The ending finished goods...
Hunkins Corporation has provided the following data concerning last month's operations. Purchases of raw materials $33,000 Indirect materials included in manufacturing $ 4,000 overhead Direct labor cost $58,000 Manufacturing overhead applied to Work in Process $91,000 Beginning Ending $ 14,000 $20,000 Raw materials inventory Work in process $ 57,000 $70,000 inventory How much is the cost of goods manufactured for the month on the Schedule of Cost of Goods Manufactured? How much is the cost of goods manufactured for the...
Bottum Corporation, a manufacturing Corporation, has provided date concerning its operations for May. The beginning balance in the raw materials account was $29,500 and the ending balance was $55,000, Raw materials purchases during the month totaled $82,000. Manufacturing overhead cost incurred during the month was $120,500, of which $3,900 consisted of raw materials classified as Indirect materials. The direct materials cost for May was: Multiple Choice $52,600 $56,500 $107.500 $82,000
Bottum Corporation, a manufacturing Corporation, has provided data concerning its operations for May. The beginning balance in the raw materials account was $28,500 and the ending balance was $53,000. Raw materials purchases during the month totaled $80,000. Manufacturing overhead cost incurred during the month was $119,500, of which $3,700 consisted of raw materials classified as indirect materials. The direct materials cost for May was: Multiple Choice $80,000 $55,500 O $104,500 $51,800
Shorstein Manufacturing Company purchases raw materials on account each month. Purchases are paid for according to the following schedule: 30% is paid in the month of the purchase 60% is paid in the month following the purchase 10% is paid in the second month following the purchase Budgeted purchases are as follows: March $75,000 April $90,000 May $85,000 How much will be reported for Accounts Payable for material purchases as of the end of May? $59,500 O $68,500 $87,000 $95,500...
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