ABC Ltd. processes fresh fruits to produce canned fruit. The budgeted sales in July, August, September, October and November are 500, 600, 800, 600 and 700 tons of canned fruits, respectively. The budgeted selling price is $2,000 per ton of canned fruits. ABC Ltd. uses 2 tons of fresh fruits to produce 1 ton of canned fruits. The budgeted purchase price is $600 per ton of fresh fruits. The target ending of Inventories is 10% of the upcoming month inventories. a. Budgeted sales in dollar in Quarter 3 b. Budgeted quantity of canned fruits c. Budgeted units purchase of fresh fruits in Quarter 3 d. Budgeted cost of purchase fresh fruits in Quarter 3

ABC Ltd. processes fresh fruits to produce canned fruit. The budgeted sales in July, August, September, October and November are 500, 600, 800, 600 and 700 tons of canned fruits, respectively. The budgeted selling price is $2,000 per ton of canned fruits. ABC Ltd. uses 2 tons of fresh fruits to produce 1 ton of canned fruits. The budgeted purchase price is $600 per ton of fresh fruits. The target ending of Inventories is 10% of the upcoming month inventories. a. Budgeted sales in dollar in Quarter 3 b. Budgeted quantity of canned fruits c. Budgeted units purchase of fresh fruits in Quarter 3 d. Budgeted cost of purchase fresh fruits in Quarter 3

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Morganton Company makes one product and provided the following information to help prepare its master budget: The budgeted selling price per unit is $65. Budgeted unit sales for June, July, August, and September are 9,000, 21,000, 23,000, and 24,000 units, respectively. All sales are on credit. Thirty percent of credit sales are collected in the month of the sale and 70% in the following month. The ending finished goods inventory equals 30% of the following month’s unit sales. The ending raw materials inventory equals 20% of the following month’s raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $2.70 per pound. Twenty percent of raw materials purchases are paid for in the month of purchase and 80% in the following month. The direct labor wage rate is $14 per hour. Each unit of finished goods requires two direct labor-hours. The variable selling and administrative expense per unit sold is $1.60. The fixed selling and…
Morganton Company makes one product and it provided the following information to help prepare the master budget: The budgeted selling price per unit is $65. Budgeted unit sales for June, July, August, and September are 8,400, 15,000, 17,000, and 18,000 units, respectively. All sales are on credit. Thirty percent of credit sales are collected in the month of the sale and 70% in the following month. The ending finished goods inventory equals 30% of the following month’s unit sales. The ending raw materials inventory equals 20% of the following month’s raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $2.50 per pound. Thirty percent of raw materials purchases are paid for in the month of purchase and 70% in the following month. The direct labor wage rate is $12 per hour. Each unit of finished goods requires two direct labor-hours. The variable selling and administrative expense per unit sold is $1.60. The fixed…
A
Morganton Company makes one product and it provided the following information to help prepare the master budget: The budgeted selling price per unit is $60. Budgeted unit sales for June, July, August, and September are 8,900, 20,000, 22,000, and 23,000 units, respectively. All sales are on credit. Forty percent of credit sales are collected in the month of the sale and 60% in the following month. The ending finished goods inventory equals 20% of the following month’s unit sales. The ending raw materials inventory equals 10% of the following month’s raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $2.50 per pound. Thirty percent of raw materials purchases are paid for in the month of purchase and 70% in the following month. The direct labor wage rate is $13 per hour. Each unit of finished goods requires two direct labor-hours. The variable selling and administrative expense per unit sold is $1.50. The fixed selling…
XYZ Company produces and sells one product. The budgeted selling price per unit is $30. Budgeted unit sales for July, August, September, October and November are 1,400 units, 2, 100 units, 3,400 units. 2,700 units and 4,200 units, respectively. All sales are on credit. Regarding credit sales, 30% are collected in the month of the sale, 50% in the month following sales, and the remaining 20% in the second month folowing sale. The expected total cash collections in September is closest to: Select one: O a. None of the given answers O b. $70,500 O c $94,000 O d. $96,300 O e. $82.250
XYZ Company produces and sells one product. The budgeted selling price per unit is $60. Budgeted unit sales for July, August, September, October and November are 1,400 units, 2,100 units, 3,400 units, 2,700 units and 4,200 units, respectively. All sales are on credit. Regarding credit sales, 30% are collected in the month of the sale, 50% in the month following sales, and the remaining 20% in the second month following sale. The expected total cash collections in September is closest to: Select one: O a. None of the given answers O b. $141,000 O c. $129,250 O d. $117,500 O e. $192,600
Morganton Company makes one product and it provided the following information to help prepare the master budget: The budgeted selling price per unit is $60. Budgeted unit sales for June, July, August, and September are 8,900, 20,000, 22,000, and 23,000 units, respectively. All sales are on credit. Forty percent of credit sales are collected in the month of the sale and 60% in the following month. The ending finished goods inventory equals 20% of the following month’s unit sales. The ending raw materials inventory equals 10% of the following month’s raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $2.50 per pound. Thirty percent of raw materials purchases are paid for in the month of purchase and 70% in the following month. The direct labor wage rate is $13 per hour. Each unit of finished goods requires two direct labor-hours. The variable selling and administrative expense per unit sold is $1.50. The fixed selling…
Morganton Company makes one product and it provided the following information to help prepare the master budget: The budgeted selling price per unit is $65. Budgeted unit sales for June, July, August, and September are 8,200, 12,000, 14,000, and 15,000 units, respectively. All sales are on credit. Forty percent of credit sales are collected in the month of the sale and 60% in the following month. The ending finished goods inventory equals 20% of the following month’s unit sales. The ending raw materials inventory equals 10% of the following month’s raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $2.00 per pound. Twenty percent of raw materials purchases are paid for in the month of purchase and 80% in the following month. The direct labor wage rate is $13 per hour. Each unit of finished goods requires two direct labor-hours. The variable selling and administrative expense per unit sold is $1.30. The fixed selling…
Morganton Company makes one product and it provided the following information to help prepare the master budget: The budgeted selling price per unit is $70. Budgeted unit sales for June, July, August, and September are 8,500, 16,000, 18,000, and 19,000 units, respectively. All sales are on credit. Forty percent of credit sales are collected in the month of the sale and 60% in the following month. The ending finished goods inventory equals 20% of the following month’s unit sales. The ending raw materials inventory equals 10% of the following month’s raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $2.00 per pound. Thirty percent of raw materials purchases are paid for in the month of purchase and 70% in the following month. The direct labor wage rate is $13 per hour. Each unit of finished goods requires two direct labor-hours. The variable selling and administrative expense per unit sold is $1.70. The fixed selling…