A company estimated the sales of 20,000 units during the month of June. The beginning inventory on hand is 2,100 units and the desired ending inventory for the month of June is 2,400 units. How many units should the company produce during the month of June? a. 19,700 units b. 20,300 units c. 24,500 units d. 15,500 units
Q: Assume a merchandising company’s estimated sales for January, February, and March are $106,000,…
A: Cash disbursements for February = (Budgeted purchases for January X 75%) + (Budgeted purchases for…
Q: Production and sales estimates for May for Cardinal Co. are as follows: Estimated inventory…
A: The sales budget includes all the income and expenses of the business on the basis of past…
Q: The following Trial Balance was extracted from the books of Dana Enterprise, a second-hand bags…
A: Profit & Loss A/c is a financial statement which shows profitability of the…
Q: XYZ Co. has forecasted July sales of 1,100 units. The company maintains ending inventory equal to…
A: Production budget is one of useful budget being prepared in business. It shows how many units needs…
Q: Samuelson will produce 20,000 units in January using level production. If each unit costs $500 to…
A: Production = 20,000 Units Opening balance = 10000 Units Sales = 15000 Units Cost per unit = $500
Q: the following data were tkane from our company's most recent sales forecast. July sales 1480 units…
A: Purchases Budget :Purchases Budget is prepared on the base of the production budget. The purchases…
Q: Sales in Month Units April 3,440 May 3.885 June 4,620 4,135 3,970 July August Croy's finished goods…
A: Step 1: Construct the production budgetTotal needs = Budgeted sales + Desired ending…
Q: Production and sales estimates for March for the Robin Co. are as follows: Estimated inventory…
A: Total Expected sales volume = Sales of Area M + Sales of Area L + Sales of Area O = 6,100 + 8,800 +…
Q: Cahuilla Corporation predicts the following sales in units for the coming four months: May July 470…
A: Budgeting anticipates revenue and expenditures for a future period based on the past performance and…
Q: Assume a merchandising company’s estimated sales for January, February, and March are $118,000,…
A: it is given that, It pays for 25% of its merchandise purchases in the month of the purchase and the…
Q: Assume a merchandising company's estimated sales for January, February, and March are $105,000,…
A:
Q: Production estimates for December are as follows: Estimated inventory (units), December 1 12,000…
A: The objective of the question is to calculate the total direct materials purchases of materials A…
Q: Wright Lighting Fixtures forecasts its sales in units for the next four months as follows: es March…
A: The production budget is a part of the master budget that estimates the unit should be produced…
Q: Assume a merchandising company's estimated sales for January, February, and March are $118,000,…
A: JanuaryFebruaryMarchSales $ 1,18,000 $ 1,38,000 $ 1,28,000Cost of goods sold $ 41,300 $ 48,300…
Q: Cahuilla Corporation predicts the following sales in units for the coming four months: April May…
A: The inventory that a business must buy throughout each budget period is included in a purchases…
Q: DeForest Company had the following transactions for the month. Sales for the month are $85 per unit.…
A: Cost of goods sold is the amount of cost incurred on the making of the goods that are to be sold in…
Q: Production and sales estimates for March for the Robin Co. are as follows: Estimated inventory…
A: Inventory refers to the goods or items which are stored by the business either for selling or for…
Q: Croy Inc. has the following projected sales for the next five months: Month Sales in Units April…
A: Budget means the expected value of future. Budget is not affected by the actual value as it is…
Q: Production and sales estimates for March for Robin Co. are as follows: Estimated inventory (units),…
A: The objective of the question is to calculate the number of units expected to be manufactured in…
Q: Campbell Company has beginning inventory of 15,000 units and expected sales of 20,000 units. If the…
A: Inventory is the amount of goods available in stock of the company at any point of time in the…
Q: Croy Inc. has the following projected sales for the next 5 months: Month Sales in Units…
A: Production budget shows how much units needs to be produced for estimated sales and maintaining the…
Q: Outdoor Company expects to sell 6,500 units for $175 each for a total of $1,137,500 in January and…
A: Budgeting - Budgeting is the process of estimating future operations based on past performance. %…
Q: For the month of July, a company estimated that unit sales and required production are 25,250 units…
A: Beginning inventory of July = 25,250 units x 10% = 2,525 Ending inventory of July = Beginning…
Q: Cahuilla Corporation predicts the following sales in units for the coming four months: April May…
A: The number of units of product that must be manufactured is defined by the production budget, which…
Q: Hank Manufacturing makes cleaning solvent sold in large container with a plastic liner. Their…
A: Budgeting is a process of establishing a standard based on several factors like past experience,…
Q: Wildhorse Ltd. estimates sales for the second quarter of 2022 will be as follows. Month April May…
A: The production budget, which establishes the number of products that must be produced, is created by…
Q: The following are the estimated monthly sales and desired ending finished goods inventories for…
A: Total units to be Produced for the month = Budgeted Sales+ Desired Ending Inventory- Beginning…
Q: Bookworm Corporation maintains ending inventory for each month at 5% of the following month's sales.…
A: Units produced in March = Units sold in March + Desired Ending inventory - Beginning inventory…
Q: Based on the following production and sales estimates for May for Heron Company, determine the…
A: Budgeting is a process of estimation of future income and expenditure for a particular period of…
Q: Assume a company’s estimated sales for January, February, and March are 36,000 units, 37,000 units,…
A: Solution: Budgeted units sales for January = 36000 units Budgeted production units is computed as =…
Q: how many units does Yorkley plan to produce during March? Select one:
A: Answer: Option d.
Q: Production and sales estimates for March for Robin Co. are as follows: Estimated inventory…
A: The correct answer is Option (a).
Q: Croy Incorporated has the following projected sales for the next five months: Month Sales in Units…
A: Production budget:— This budget is prepared to estimate the number of units to be produced for…
Q: Croy Incorporated has the following projected sales for the next five months: Sales in Month Units…
A: Direct Material -The term "direct material" describes raw materials that are utilized directly in a…
Q: Cahuilla Corporation predicts the following sales in units for the coming four months: April May…
A: Budget:We prepare budgets for the future based on data available at present, Some of the budgets…
Q: Cahuilla Corporation predicts the following sales in units for the coming four months: April May…
A: Working:
Q: Production and sales estimates for June are as follows: Estimated inventory (units), June 1 Desired…
A: Production refers to the method or way for turning the raw materials (RM) into the finished product…
Q: Assume a company's estimated sales for January, February, and March are 30,000 units, 31,000 units,…
A: Production budget:- This budget is prepared to estimate the number of units to be produced for…
Q: Shadee Corp. expects to sell 600 sun visors in May and 440 in June Each visor sells for $14Shadee's…
A: The budget process involves an estimation of expected expenses or revenues relating to a particular…
Q: Assume a company's estimated sales for January, February, and March are 41,000 units, 42,000 units,…
A: Desired ending inventory for January = Estimated sales for February x 15% = 42000 x 15% = 6300 units
Q: Ferris Company began January with 4,000 units of its principal product. The cost of each unit is $8.…
A: The inventory can be valued using various methods as LIFO, FIFO and weighted average method.
Q: Estimated inventory (units), July 1 Desired inventory (units), July 31 Expected sales volume…
A: Given : Estimated inventory (units) July 1 = 8500 desired inventory (units) July 31 = 10500 Expected…
Q: Assume a merchandising company's estimated sales for January, February, and March are $107,000, $…
A: The budget is prepared to estimate the requirements for the period. The purchase budget is prepared…
Q: Production and sales estimates for June for Cardinal Co. are as follows: Estimated inventory…
A: The objective of the question is to calculate the number of units expected to be manufactured in…
Q: Croy Inc. has the following projected sales for the next five months: Month Sales in Units April…
A: Budgeted production means how much units needs to be produced to achieve sales target and keeping…
Q: Osage Incorporated has actual sales for May and June and forecast sales for July, August, September,…
A: Material purchase budget :— This budget is prepared to estimate the number of units and cost of…
Q: MJ Department Store expects to generate the following sales figures for the next three months: July…
A: Expected sales figure for the next 3 months Sales Gross Cost of…
Q: Cahulilla Corporation predicts the following sales in units for the coming four months: April May…
A: Lets understand the basics.Management prepares budget in order to estimate future profit and…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Please calculate LIFO perpetual system and Average cost, perpetual systemFerris Company began January with 6,000 units of its principal product. The cost of each unit is $8. Merchandise transactions for the month of January are as follows: "Includea purchase price and cost of freight. 8,000 units were on hand at the end of the month. Please show work. Directions are at the top to find LIFO, perpetual system and Average cost, perpetual system. Units Unit Cost Purchased Sold BalanceNyanza, Incorporated anticipates sales of 55,000 units, 53,000 units, and 56,000 units in July, August, and September, respectively. Company policy is to maintain an ending finished-goods inventory equal to 30% of the following month's sales. On the basis of this information, how many units would the company plan to produce in July?Wright Lighting Fixtures forecasts its sales in units for the next four months as follows: 20,000 22,000 19,500 18,000 March April May June Wright maintains an ending inventory for each month in the amount of two and one-half times the expected sales in the following month. The ending inventory for February (March's beginning inventory) reflects this policy. Materials cost $7 per unit and are paid for in the month after production. Labor cost is $11 per unit and is paid for in the month incurred. Fixed overhead is $19,000 per month. Dividends of $21,400 are to be paid in May. The firm produced 19,000 units in February. Complete a production schedule and a summary of cash payments for March, April, and May. Remember that production in any one month is equal to sales plus desired ending inventory minus beginning inventory. Note: Input all amounts as positive values except Beginning inventory values under Production Schedule which should be entered with a minus sign. Leave no cells blank…
- (Production schedule) The projected sales, in units,for Einstein Inc. By month for the first four months were January 8,000 February 12,000 March 16,000 April 19,200 Inventory of finished goods on December 31 was 6,400 units. The company desired to have an ending inventory each month equal to one-half of next month's estimated sales. Determine the company's production requirements for each month of the first quarterCahuilla Corporation predicts the following sales in units for the coming four months: April May June July Sales in units 240 280 300 240 Each month's ending Finished Goods Inventory should be 40% of the next month's sales. March 31 finished goods inventory is 96 units. A finished unit requires five pounds of direct material B at a cost of $2.00 per pound. The March 31 Raw Materials Inventory has 200 pounds of B. Each month's ending Raw Materials Inventory should be 30% of the following month's production needs. The budgeted production for May is: Select one: a. 288 units. b. 400 units. c. 232 units. d. 280 units. e. 168 units. Clear my choiceProduction and sales estimates for March for the Robin Co. are as follows: Estimated inventory (units), March 1 18,000 Desired inventory (unit), March 31 19,600 Expected sales volume (units): Area M 6,100 Area L 8,800 Area O 7,700 Unit sales price $18 The number of units expected to be manufactured in March is a.24,200 b.22,600 c.42,200 d.60,200
- [The following information applies to the questions displayed below.]Ferris Company began January with 4,000 units of its principal product. The cost of each unit is $7. Merchandise transactions for the month of January are as follows: Purchases Date of Purchase Units Unit Cost* Total Cost Jan. 10 3,000 $ 8 $ 24,000 Jan. 18 4,000 9 36,000 Totals 7,000 60,000 * Includes purchase price and cost of freight. Sales Date of Sale Units Jan. 5 2,000 Jan. 12 1,000 Jan. 20 3,000 Total 6,000 5,000 units were on hand at the end of the month. 2. Calculate January's ending inventory and cost of goods sold for the month using LIFO, periodic system.Production and sales estimates for March for Robin Co. are as follows: Estimated inventory (units), March 1 18,000 Desired inventory (units), March 31 19,100 Expected sales volume (units): Area M 7,000 Area L 9,100 Area O 7,400 Unit sales price $14 The number of units expected to be manufactured in March isProduction and sales estimates for June for Cardinal Co. are as follows: Estimated inventory (units), June 1 20,000 Desired inventory (units), June 30 19,000 Expected sales volume (units): Territory X 7,000 Territory Y 4,000 Territory Z 5,500 Unit sales price $20 The number of units expected to be manufactured in June is a. 12,500 units b. 13,500 units c. 11,000 units d. 15,500 units
- 2. Muddy Waters Industries has projected sales of its product for the next 6 months: 300 units January February 700 units March 1,000 units April Мay 1,000 units 400 units June 300 units Each unit is sold at $40 per unit. The cost of goods sold is typically 40% of the month's budgeted sales revenue. Muddy Waters tries to maintain a Finished Goods ending inventory equal to the 60% of next month's cost of goods sold. January beginning inventories are expected to conform to company policy. Prepare a purchase budget for March, and AprilA June sales forecast projects that 8,000 units are going to be sold at a price of $11.00 per unit. The desired ending inventory of units is 12% higher than the beginning inventory of 900 units. Merchandise purchases for June are projected to include how many units? O 8,000 units O 8,108 units O 7,892 units O 9,008 units O 8,450 unitsTrailers Company expects to sell 6,500 units for $155 each for a total of $1,007,500 in January and 2,300 units for $200 each for a total of $460,000 in February. The company expécts cost of goods sold to average 50% of sales revenue, and the company expects to sell 5,000 units in March for $200 each. Trailers' target ending inventory is $20,000 plus 50% of the next month's cost of goods sold. Prepare Trailers' inventory, purchases, and cost of goods sold budget for January and February. Trailers Company Inventory, Purchases, and Cost of Goods Sold Budget Two months Ended January 31 and February 28 January Cost of goods sold Plus: Desired ending merchandise inventory Total merchandise inventory required Less: Beginning merchandise inventory Budgeted purchases 503750 135000 638750 February 230000 520000 750000