opening inventory 2400 units opening inventory 3300 units closing inventory 500 units closing inventory 600 units product bassinets loss of 80 units swings loss of 50 units raw materials pins loss of 30 units clips loss of 20 units prepare the following for the year 2020 sales budget production budget

opening inventory 2400 units opening inventory 3300 units closing inventory 500 units closing inventory 600 units product bassinets loss of 80 units swings loss of 50 units raw materials pins loss of 30 units clips loss of 20 units prepare the following for the year 2020 sales budget production budget

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter8: Budgeting For Planning And Control

Section: Chapter Questions

Problem 33E: A companys controller is adjusting next years budget to reflect the impact of an expected 3 percent...

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Budgeting Inventories For each independent situation below, determine the missing amounts: A C Beginnning inventory Produced Available Sold Ending inventory 11,000 40,000 0 45,000 0 B 0 28,000 0 27,000 10,000 8,000 0 26,000 0 5,000 D 0 60,000 63,000 0 3,000
Budgeting Inventories For each independent situation below, determine the missing amounts: A B C D Beginnning inventory 7,000 3,000 3,000 0 Produced 40,000 23,000 0 60,000 Available 55,000 26,000 26,000 68,000 Sold 45,000 32,000 I 0 0 Ending inventory 10,000 10,000 10,000 3,000 Previous Save Answers
Required information [The following information applies to the questions displayed below.] Phoenix Company's 2019 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units. PHOENIX COMPANY Fixed Budget Report For Year Ended December 31, 2019 Sales $3,000,000 Cost of goods sold Direct materials $975,000 225,000 60,000 300,000 195,000 200,000 Direct labor Machinery repairs (variable cost) Depreciation-Plant equipment (straight-line) Utilities ($45,000 is variable) Plant management salaries Gross profit Selling expenses Packaging Shipping Sales salary (fixed annual amount) General and administrative expenses Advertising expense 1,955,000 1,045,000 75,000 105,000 250,000 430,000 125,000 241,000 90,000 Salaries Entertainment expense 456,000 Income from operations $ 159,000 3. The company's business conditions are improving. One possible result is a sales volume of 18,000 units. The company president is confident that…
Computer Assignment The SK Industries, Inc. manufactures and sells two products, Accel Active and Accel Regular. In September 2018, SK Industries Budget Department gathered the following data in order to prepare budgets for 2019: 2019 Projected Sales Units Price Accel Active 45,000s225 Accel Regular 75,000|s155 Product Expected Target Inventories January 1, 2019 December 31, 2019 Product Accel Active 9,000 12,000 Accel Regular 17,000 25,000 The following direct materials are expected to be used in the two products: |Material Used per Unit Direct Material Unit Accel Active Accel Regular pound One 6. Two pound 4 2 Three pound 2 Projected data for 2019 with respect to direct materials are as follows: Direct Material Expected Purchase Price Expected Inventories Target Inventories (January 1, 2019) (December 31, 2019) One SIs 27,000 lb 35,000 lb Two S7 30,000 lb 35,000 lb Three $4 4,000 lb 7,000 lb Projected direct labor requirements and rates for 2019 are as follows: Product Accel Active…
Company has prepared the following summary from its functional budgets for the year ended 30th September 2020. Particulars Amount (in Rs.) Amount (in Rs.) Sales(1,00,000 units) 15,00,000 Opening Inventory( Zero Units) Nil Production Costs (1,15,000 units) Direct materials 4,60,000 Direct labour 5,75,000 Variable overhead 1,15,000 Fixed overhead 2,30,000 1,380,000 Closing inventory (15,000 units) (1,80,000) Cost of Sales 1,200,000 Gross Profit 3,00,000 Other overhead fixed costs (2,00,000) Net Profit 1,00,000 The directors of the company have now met to review the above statement. They have decided to revise the budget as follows: Due to competition, reduce the selling price by Rs.5 per unit and despite the reduction in selling price the demand for the product will reduce to 90,000 units. Increase some of the unit production costs: direct…
Budgeting Inventories For each independent situation below, determine the missing amounts: A B C D Beginnning inventory 12,000 0 × 7,000 0 × Produced 40,000 27,000 0 × 56,000 Available 0 × 0 × 32,000 64,000 Sold 45,000 28,000 0 × 0 × Ending inventory 0 × 12,000 6,000 2,000
7.3 Shown below are the totals from 2018 period budgets. Revenue budget Materials usage from production budget Labor cost budget Manufacturing overhead budget General and administrative budget Capital expenditure budget P100,000 15,000 20,000 20,000 30,000 20,000 32 How Work-in-Progress Inventories: Beginning of 2018 End of 2018 ndilet b rsM x) 1E valM 10,000 lsa 5,000 PLS Finished Goods Iventory: Beginning of 2018 End of 2018 Pla 15,000 10,000 Tax Rate 40% hen dees20 oldibsllonU Instructions: nongt od Prepare a forecasted Income Statement for the year. bas sldigilgon
Production budget for the second quarter of 2019 shows the following desired ending inventory: April 2,000 units - May 3,000 units - June 4,000 units. Accordingly, the ending inventory for the second quarter would be Multiple Choice O O $4,000 $9,000 $2,000 $3,000
Budgeting Inventories For each independent situation below, determine the missing amounts: A B D Beginnning inventory 7,000 3,000 Produced 40,000 23,000 60,000 Available 26,000 68,000 Sold 45,000 32,000 Ending inventory 10,000 10,000 3,000
Clark Company's master budget reflects budgeted sales information for the month of June, 2022 as follows: Product A Product B Budgeted Quantity 40,000 48,000 Budgeted Unit Sales Price $7 $9 During June, the company actually sold 39,000 units of Product A at an average unit selling price of $7.1 and 49,600 units of Product B at an average unit price of $8.9. Prepare a Sales Budget Report for the month of June for Clark Company which shows whether the company achieved its planned objectives.
ework Required O Saved Help Phoenix Company's 2019 master budget included the following fixed budget report. It is based on an expected production and sales volume of 15,000 units. PHOENIX CОМPANY Fixed Budget Report For Year Ended December 31, 2019 Sales $3,150,000 Cost of goods sold Direct materials $ 915,000 240,000 Direct labor Machinery repairs (variable cost) Depreciation-Plant equipment (straight-line) Utilities ($60,000 is variable) Plant management salaries Gross profit Selling expenses Packaging Shipping Sales salary (fixed annual amount) General and administrative expenses Advertising expense 45,000 315,000 210,000 210,000 1,935,000 1,215,000 75,000 90,000 235,000 400,000 125,000 230,000 85,000 Salaries Entertainment expense 440,000 nces Income from operations $375,000 Problem 23-1A Part 1&2 Prev 1 3 of 8 Next > here to search PriSc Dele Ins C F5 F9 F10 F11 F12 F6 F7 F8 F1 F3 F4 F2 23 3 4. 6. 7 8. 9. T Y 11 D G H. K L A Z. C V M + II V B L.
It is the beginning of the year and the following information applies, concerning the preparation of the budgets: Budgeted 2023 Feb € Sales Admin expenses ▪ ▪ . Actual 2022 Dec € Nov € 74200 4800 79800 5300 Jan € 78400 4500 98000 4600 March € 109200 4200 Depreciation of 1000€ is included in Admin Expenses 1% of sales are never collected. Experience has shown that if an amount is not collected within 3 months, then it is in fact never collected. Bad Debts are written off during the year. 60% of the sales collected, are collected in the month of sale, 30% in the month following sale and the balance in the 2nd month after the sale. Cost of sales consists only of purchases. The company has a 40% mark-up on cost policy. 30% of sales are bought in the month of sale and the balance is bought in the month previous to the sale. Assume this has always been strictly adhered to with no left over inventory other than that planned above. 20% of purchases are paid within 60 days and the balance is…