i dont want answers in image format thanks 8. Madison Corporation manufactures and sells two products. Alpha and Beta. Madison'saccounting department gathered the following data to project sales and budgetrequirements:Projected salesProductAlpha....Beta.Inventories - in unitsUnitlbs.lbs..eachRawMaterialsXY.ZUnits60,00040,000ExpectedJan. 1stProductAlpha..20,00025,000Beta.8,0009,000To produce one unit of Alpha and Beta the following raw materials are used:Raw MaterialXYZPrice$8$5$3Alpha2Projected data with respect to raw materials is as follows:AnticipatedExpectedPurchaseInventoryJan. 1stUsing the above information prepare a:a. Production budget.b. Purchases budget.Price$70$10032,000 lbs.29,000 lbs.6,000 eachBeta5DesiredDec. 31st31DesiredInventoryDec. 3136,000 lbs.32,000 lbs.7.000 each

Budgets are the estimates or forecasts that are made for future period. Production budget shows…

8. Madison Corporation manufactures and sells two products. Alpha and Beta. Madison's accounting department gathered the following data to project sales and budget requirements: Projected sales Product Alpha.. Beta. Inventories - in units Product Alpha.. Beta. Y. Desired Dec. 31 20,000 25,000 8,000 9,000 To produce one unit of Alpha and Beta the following raw materials are used: Raw Material X Y Z. Raw Materials X.. Z. Units 60,000 40,000 Expected Jan. 1 $8 $5 $3 Unit lbs. lbs.. each Projected data with respect to raw materials is as follows: Anticipated Expected Purchase Inventory Price Jan. 1st Alpha 2 Using the above information prepare a: a. Production budget. b. Purchases budget. Price $70 $100 32,000 lbs. 29,000 lbs. 6,000 each Beta 5 3 1 Desired Inventory Dec. 31 36,000 lbs. 32,000 lbs. 7.000 each

8. Madison Corporation manufactures and sells two products. Alpha and Beta. Madison's accounting department gathered the following data to project sales and budget requirements: Projected sales Product Alpha.. Beta. Inventories - in units Product Alpha.. Beta. Y. Desired Dec. 31 20,000 25,000 8,000 9,000 To produce one unit of Alpha and Beta the following raw materials are used: Raw Material X Y Z. Raw Materials X.. Z. Units 60,000 40,000 Expected Jan. 1 $8 $5 $3 Unit lbs. lbs.. each Projected data with respect to raw materials is as follows: Anticipated Expected Purchase Inventory Price Jan. 1st Alpha 2 Using the above information prepare a: a. Production budget. b. Purchases budget. Price $70 $100 32,000 lbs. 29,000 lbs. 6,000 each Beta 5 3 1 Desired Inventory Dec. 31 36,000 lbs. 32,000 lbs. 7.000 each

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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