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You have been presented with the following information by the Budget Committee of the organization in which you work:
Sales
Details Study lamps Accent lights
Expected selling price per unit $300 $500
Sales Volume forecast:
January 2 000 units 1 000 units
February 2 500 units 1 500units
March 3 000 units 1 000 units
April 2 000 units 1 200 units
Additional information:
(i) Beginning inventories: study lamps 300 units; accent lights 200 units.
(ii) The ending inventory for each product at the end of each month is to be maintained at 20% of the budgeted sales for the next month.
(iii) To make one study lamp, four (4) units of raw material lumber are used, while five (5) units of raw material aluminum are used to make one accent lights.
Required:
The Production Budgets for both products for January to March 2020.
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- You have been presented with the following information by the Budget Committee of the organization in which you work: Sales forecast January – April 2020 Details Study lamps Accent lights Expected selling price per unit $300 $500 Sales Volume forecast: January 2 000 units 1 000 units February 2 500 units 1 500units March 3 000 units 1 000 units April 2 000 units 1 200 units Additional information: (i) Beginning inventories: study lamps 300 units; accent lights 200 units. (ii) The ending inventory for each product at the end of each month is to be maintained at 20% of the budgeted sales for the next month. (iii) To make one study lamp, four (4) units of raw material lumber are used, while five (5) units of raw material aluminum are used to make one accent lights. Required: The Sales Budget for both products for January to March 2020. The Direct Material usage budget.Scarborough Corporation manufactures and sells two products: D-One and D-Two. In July 2018, Scarborough budget department gathered the following data to prepare budgets for 2019: 2019 Projected Sales: Product D-One Units 60,000 40,000 Price $165 $250 D-Two 2019 Inventories in Units: Expected Target January 1, 2019 20,000 8,000 Product December 31, 2019 25,000 9,000 D-One D-Two The following direct materials are used in the two products: Amount Used per Unit Direct material Unit D-One D-Two kilogram kilogram A 4 5 2 3 each 1 Projected data for 2019 with respect to direct materials are as follows: Expected Inventories January 1, 2019 32,000 kg 29,000 kg 6,000 units Direct material Anticipated Purchase price $12 5 Target Inventories December 31, 2019 36,000 kg 32,000 kg 7,000 units A B C 3 Projected direct labour requirements and rates for 2019 are as follows: Product D-One D- Two Hours per unit Rate per hour $12 2 3 16 Based on the preceding projections and budget requirements for D-One…Bright Light Corporation manufactures and sells two types of decorative lamps, Knox and Ayer. It expects to manufacture 25,000 Knox lamps and 15,000 Ayer lamps in 2020. The following data are available for the year 2020. (Click the icon to view the information.) (Click the icon to view the December 31, 2020 production budget in units.) Calculate (a) the direct materials usage budget in quantity and dollars (label it Schedule 3A); (b) the direct materials purchase budget in quantity and dollars (label it Schedule 3B); and (c) the direct manufacturing labor costs budget (label it Schedule 4) for the year ending December 31, 2020. (a). Begin by calculating the direct materials usage budget in quantity and then in dollars (label it Schedule 3A) for the year ending December 31, 2020. Schedule 3A: Direct Material Usage Budget in Quantity and Dollars for the Year Ending December 31, 2020 Physical Units Budget Direct materials required for Knox lamps Direct materials required for Ayer lamps…
- Prepare a Sales Budget, Purchases Budget and Forecasted Income Statement for 2022 third quarter of Maryland Enterprises. Using the ff. data: June July August September Units to be Sold 1,000 1,250 1,500 1,350 Selling Price P190 Unit Cost P120 Beginning Inv for July 100 units Desired Ending Inventory 10% of Last month Unit Sales ling Expenses P25 per forecasted sales in units Administrative Expenses P10,000 per monthGood night please answer d,e and question 2 Makers Ltd. manufactures and sells two products, Abba and Baba. In July 2018 Makers’Budget Department gathered the following data in order to prepare the individual budgets inthe master budget for 2019: 2019 Projected Sales:Product Unit PriceAbba 80,000 $ 190Baba 60,000 $ 270 2019 Inventories in Units: Expected Target:Product January 1, 2019 December 31, 2019Abba 22,000 26,000Baba 9,000 10,000 To produce 1 unit of Abba and Baba, the following direct materials are used:Direct Material Unit Abba BabaA Pounds 5 6B Pounds 3 4C…Good night please answer d,e and question 2 Makers Ltd. manufactures and sells two products, Abba and Baba. In July 2018 Makers’Budget Department gathered the following data in order to prepare the individual budgets inthe master budget for 2019: 2019 Projected Sales:Product Unit PriceAbba 80,000 $ 190Baba 60,000 $ 270 2019 Inventories in Units: Expected Target:Product January 1, 2019 December 31, 2019Abba 22,000 26,000Baba 9,000 10,000 To produce 1 unit of Abba and Baba, the following direct materials are used:Direct Material Unit Abba BabaA Pounds 5 6B Pounds 3 4C…
- Good night Please answer a,b,c Thanks in advance Makers Ltd. manufactures and sells two products, Abba and Baba. In July 2018 Makers’Budget Department gathered the following data in order to prepare the individual budgets inthe master budget for 2019: 2019 Projected Sales:Product Unit PriceAbba 80,000 $ 190Baba 60,000 $ 270 2019 Inventories in Units: Expected Target:Product January 1, 2019 December 31, 2019Abba 22,000 26,000Baba 9,000 10,000 To produce 1 unit of Abba and Baba, the following direct materials are used:Direct Material Unit Abba BabaA Pounds 5 6B Pounds 3 4C…You have been presented with the following information by the Budget Committee of the organisation in which you work: Sales forecast January – April 2017 Details T-Squares Dividers Expected selling price per unit $300 $500 Sales Volume forecast: January 2 000 units 1 000 units February 2 500 units 1 500units March 3 000 units 1 000 units April 2 000 units 1 200 units Additional information: (i) Beginning inventories: T-squares 300 units; Dividers 200 units. (ii) The ending inventory for each product at the end of each month is to be maintained at 20% of the budgeted sales for the next month. (iii) At the start of January 2017 there are 700 T-squares and 300 dividers on hand. (iv) To make one T-square, four (4) units of raw material lumber are used, while five (5) units of raw material aluminium are used to make one divider. Required: (a) The Sales Budget for both…The Budget Committee is now ready with the budget estimates for the preparation of the Operating Budget of YAKANG-YAKA Company for the year 2022. The following data were preseted below: Finished Product Model B 8,000 P 140 Model M 5,000 P 170 Budget sales-units Selling price per unit Inventory, Beginning in units Expected inventory end in units 850 600 700 500 Inventory, Beginning in units Expected inventory end in units Material MI 5,000 5,500 Material M2 4,000 5,000 Material M3 3,000 3,600 Model B Model M 4 units 3 units 3 units 15 hours Material Content of each unit: Material M1 Material M2 Material M3 Direct labor hours per unit 6 units 4 units 2 units 10 hours Overhead is applied based on 100% of direct labor hours. Budgeted unit costs: Material M1 Material M2 per unit Material M3 2.50 per unit Direct labor P2.00 Р.00 per uniti 3.00 per hour Other budgeted data based on production are shown below: Factory Overhead: Indirect labor Factory supplies Repairs and maintenance Other…
- Roose manufactures a product called Wye. The owners of Roose are preparing the budgets for the three months ending December 2020. Expected sales in units are shown below. October 2020 November 2020 December 2020 January 2021 Units of Wye 5,700 units 6,080 units 6,384 units 4,788 units One completed Wye contains 3.40 kg of material, costing RM 9.30 per kg. Inventory as at 1 Oct 2020 Inventory decision Finished product (units) of Wye 1,425 units Closing inventory in any month should represent 25% of the next month’s expected sales Material (kg) 25,000 kg This is to be reduced at a constant rate to 16, 000 kg by the end of December 2020 Required: Prepare for each of the months October to December 2020, the Production Budget for finished products Wye. Prepare, for each of the months October to December 2020, the Materials Purchases Budget.Paige Company estimates that unit sales will be 10,000 in quarter 1, 14,000 in quarter 2, 15,000 in quarter 3, and 18,000 in quarter 4. Using a sales price of $70 per unit.Prepare the sales budget by quarters for the year ending December 31, 2020. PAIGE COMPANYSales Budgetchoose the accounting period Quarter 1 2 3 4 Year select an opening name enter a number of units enter a number of units enter a number of units enter a number of units enter a total for the row select an item $enter a dollar amount $enter a dollar amount $enter a dollar amount $enter a dollar amount $enter a dollar amount select a closing name $enter a product of the two previous amounts $enter a product of the two previous…Styles Abuhatim LLC has given the following particulars. You are required to prepare a cash budget for the three months ending 31st December 2019 Months Sales Materials Wages ( OMR) Over heads (OMR) (OMR) (OMR) August September October 20000 10200 3800 1900 21000 10000 3800 2100 23000 9800 4000 2300 November 25000 10000 4200 2400 December 30000 10800 4500 2500 Credit terms are 1.. Sales /Debtors 10% sales are on Cash, 50% of the credit sales are collected in next month and the balance in the following month 2. Creditors- materials 2 months Wages 1 month -1 month Overheads 3. Cash balance on 1st October is expected to be Ro.8000 4. A machinery will be installed in August at a cost of RO.100000, the monthly instalment of RO.5000 is payable from October onwards 5. Dividend at 10% on preference share capital RO.300,000 will be paid on 1* December 2019 6. Advance to be received for the sale of vehicles RO.20000in December 7. Income tax to be received in December RO.5000
