Based on the following production and sales estimates for May for Heron Company, determine the number of units expected to be manufactured in May. Estimated inventory (units), May 1 30,000 Desired inventory (units), May 31 25,000 Expected sales volume (units): South region 20,000 West region 40,000 North region 20,000 Unit sales price $10 a. 75,000 units Ob. 105,000 units C. 85,000 units d. 80,000 units
Q: Lens Junction sells lenses for $45 each and is estimating sales of 15,000 units in January and…
A: Production Budget:— This budget is prepared to estimate the number of units to be produced during…
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: 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: 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: The following data are for the year ended December 31, 2021: Beginning Inventory 170,000 units…
A: Absorption costing: The absorption costing method refers to the technique of charging all costs,…
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: Month January February March April May Cost $11.0 $10,8 $12,5 $13,2 $13.C
A: Answer : Variable cost using high low method Variable cost = (Highest unit cost - Lowest unit cost)…
Q: Expected Sales Total Required Units Required Production Total
A: Answer) Lens Junction Sales Budget For the two Months Ended February 28 20XX…
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: 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: MAXI Co. has the following information: *Projected sales for four (4) months are as follows:…
A: Budgets are the forecasts or estimates that are made for future period of time. It can be sales…
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: Cost Flow Methods The following three identical units of Item PX2T are purchased during April: Units…
A: a. First-in, first-out (FIFO): Cost of goods sold = $220Gross Profit = $278 - $220 = $58Ending…
Q: Lens Junction sells lenses for $43 each and is estimating sales of 15,000 units in January and…
A: Total Sales Revenue = Expected Sales ( Units ) * Sales Price per Unit
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: a. Determine the cost of goods sold and gross profit amounts Dorado should record for the three…
A: The cost of goods sold indicates the accumulated cost of converting raw materials into completed…
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: 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: elling price per unit ariable manufacturing cost per u ixed manufacturing overhead cos ixed…
A: Given: To prepare the record of the per unit cost and income statement is given as,
Q: The following data are for the year ended December 31, 2021: Beginning…
A: An income statement is a financial report that indicates the revenue and expenses of a business. It…
Q: Heather Products expects the following sales of its single product: Units May 15,000 June 16,000…
A: Introduction:- The following notes required to calculate as follows:- 1)Ending inventory of May = 20…
Q: Lens Junction sells lenses for $44 each and is estimating sales of 16,000 units in January and…
A: Sales budget of the business shows how much sales revenues is expected in coming period from sales.…
Q: The company anticipates the following sales, in units January February March Month Sales 528 573 551…
A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…
Q: The following three identical units of Item P401C are purchased during April: Apr. 2 Apr. 15 Apr. 20…
A: Inventory valuation is referred to as that method which helps in assigning a monetary value to the…
Q: The marketing department of Gaeber Industries has submitted the following sales forecast for the…
A: Given: The company expects to start the first quarter with 1,600 units in finished goods 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: 6. Sunrise Holding began January with 6,000 units of its principal product. The cost of each unit is…
A: Inventory valuation is based on the flow of exemption used by the company. There are many methods…
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: Cost Flow Methods The following three identical units of Item PX2T are purchased during April: Item…
A: The inventory flow method is used for the inventory valuation, it is based on the flow of inventory.…
Q: Production estimates for August for Jay Company are as follows: Estimated inventory (units), August…
A: The objective of the question is to calculate the total direct materials purchases required for…
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: Tidewater plans to sell 85,000 units of product no. 794 in May, and each of these units requires…
A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…
Q: Raider-X Company forecasts sales of 18,000 units for April. Beginning inventory is 3,000 units. The…
A:
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: JKL & Company had 3,000 units in finished-goods inventory on December 31. The following data are…
A: Sales Revenue is the amount received or receivable from the customers on the account of cash sales…
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: Crane Ltd. estimates sales for the second quarter of 2022 will be as follows. Month Units April…
A: Lets understand the basics. Budget is an estimation of future profit and loss. Master budget is…
Q: The following three identical units of Item 3C07 are purchased during April: Item Beta Units Cost…
A: Ending inventory is the amount of inventory that an entity has on hand, at the end of the period. It…
Q: The following data are for the year ended December 31, 2021: Beginning Inventory 170,000 units…
A: 1) Total number of units produced during the year =(Ending inventory + Selling units -beginning…
Q: Cost Flow Methods The following three identical units of Item LO3V are purchased during April: April…
A: FIFO method is one of the methods of inventory valuation in which it is assumed that old purchases…
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 1 images
- Required information Paradise Company plans the following beginning and ending inventory levels (in units) for June: June 1 June 31 Raw material Work in process Finished goods 60.000 10.000 82.000 52.500 10.000 52,500 Two units of raw material are needed to produce each unit of finished product. If Paradise Company plans to sell 480,000 units during June, what would be the number of units it would have to manufacture during June? Mutiple Choice 440,000 units. 450,000 units. 450,500 units S10.000 unitsWright 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…Cost Flow Methods The following three identical units of Item K113 are purchased during April: Item Beta Units Cost April 2 April 15 April 20 Total Purchase Purchase Purchase a. First-in, first-out (FIFO) b. Last-in, first-out (LIFO) c. Weighted average cost 1 1 1 3 Average cost per unit ($837+ 3 units) Assume that one unit is sold on April 27 for $374. Determine the gross profit for April and ending inventory on April 30 using the (a) first-in, first-out (FIFO); (b) last- in, first-out (LIFO); and (c) weighted average cost method. $276 279 282 $837 $279 Gross Profit Ending Inventory
- (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 quarterMonth April May June July August Sales in Units 3,500 3,805 4,570 4,125 3,988 Croy's finished goods inventory policy is to have 50 percent of the next month's sales on hand at the end of each month. Direct materials costs $2.60 per pound, and each unit requires 2 pounds. Direct materials inventory policy is to have 50 percent of the next month's production needs on hand at the end of each month. Direct materials on hand at March 31 totaled 3,653 pounds. Required: 1. Determine budgeted production for April, May, and June. 2. Determine budgeted cost of materials purchased for April and May Complete this question by entering your answers in the tabs below. Required 11 Required 2 Determine budgeted production for April, May, and June. (Do not round your intermediate calculations and round your final answers to the nearest whole number.) May Budgeted Production (Units) April Requi June Required 2 >Production 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
- Production and sales estimates for March for the Robin Co. are as follows: Estimated inventory (units), March 1 17,500 Desired inventory (unit), March 31 20,000 Expected sales volume (units): Area M 6,700 Area L 9,700 Area O 8,000 Unit sales price $16 The number of units expected to be manufactured in March isINFORMATION: Brait Limited produces a single product and forecasted the following for the first three months of the year: January March February 2 400 Sales (units) 2 200 2 600 The company's policy is to maintain closing inventory at a level of 50% of the following months forecasted sales. Material and labour requirements are as follows: Material 2 kg per unit @ R60 per kg Labour 3 hours per unit Material inventory levels were as follows: December 1 100 Closing inventory (kg) January 1 250 REQUIRED: The total material purchase cost for January is: A. R276 000 B. R408 000 C... 8285 000 February 1 400 March 1 300Production 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 is
- Production 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 unitsCost Flow Methods The following three identical units of Item P401C are purchased during April: Item Beta Units Cost April 2 Purchase 1 $100 15 Purchase 1 120 20 Purchase 1 140 Total 3 $360 Average cost per unit $120 ($360 ÷ 3 units) Assume that one unit is sold on April 27 for $300. Determine the gross profit for April and ending inventory on April 30 using the (a) first-in, first-out (FIFO); (b) last-in, first-out (LIFO); and (c) weighted average cost method. Gross Profit Ending Inventory a. First-in, first-out (FIFO) $fill in the blank 1 $fill in the blank 2 b. Last-in, first-out (LIFO) $fill in the blank 3 $fill in the blank 4 c. Weighted average cost $fill in the blank 5 $fill in the blank 62. 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 April