7) Corp expects to manufacture and sell 20,000 baskets in 2016 for $5 each. There are 4,000 baskets in beginning finished goods inventory with target ending inventory of 5,000 baskets. The company keeps no WIP inventory. What amount of sales revenue will be reported on the 2016 budgeted income statement? 8) For next year, Corp has budgeted sales of 15,000 units, targeted ending finished goods inventory of 750 units, and beginning finished goods inventory of 450 units. All other inventories are zero. How many units should be produced next year? 9) Corp has budgeted sales volume of 120,000 units and budgeted production of 108,000 units, while 20,000 units are in beginning finished goods inventory. How many units are targeted for ending finished goods inventory?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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6)
at is estimated operating income for 2017?
Additional Chapter 6 Questions
7) Corp expects to manufacture and sell 20,000 baskets in 2016 for $5 each. There are 4,000 baskets in
beginning finished goods inventory with target ending inventory of 5,000 baskets. The company keeps no
WIP inventory. What amount of sales revenue will be reported on the 2016 budgeted income statement?
8) For next year, Corp has budgeted sales of 15,000 units, targeted ending finished goods inventory of
750 units, and beginning finished goods inventory of 450 units. All other inventories are zero. How many
units should be produced next year?
9) Corp has budgeted sales volume of 120,000 units and budgeted production of 108,000 units, while
20,000 units are in beginning finished goods inventory. How many units are targeted for ending finished
goods inventory?
10) Corp expects to sell 20,000 pool cues for $12.00 each. DM costs are $2.00, DL is $4.00, and O/H is
$0.80 per pool cue. The following inventory levels apply to 2016:
Beginning inventory Ending inventory
24,000 units
24,000 units
Direct materials
Transcribed Image Text:6) at is estimated operating income for 2017? Additional Chapter 6 Questions 7) Corp expects to manufacture and sell 20,000 baskets in 2016 for $5 each. There are 4,000 baskets in beginning finished goods inventory with target ending inventory of 5,000 baskets. The company keeps no WIP inventory. What amount of sales revenue will be reported on the 2016 budgeted income statement? 8) For next year, Corp has budgeted sales of 15,000 units, targeted ending finished goods inventory of 750 units, and beginning finished goods inventory of 450 units. All other inventories are zero. How many units should be produced next year? 9) Corp has budgeted sales volume of 120,000 units and budgeted production of 108,000 units, while 20,000 units are in beginning finished goods inventory. How many units are targeted for ending finished goods inventory? 10) Corp expects to sell 20,000 pool cues for $12.00 each. DM costs are $2.00, DL is $4.00, and O/H is $0.80 per pool cue. The following inventory levels apply to 2016: Beginning inventory Ending inventory 24,000 units 24,000 units Direct materials
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