Below is budgeted production and sales information for Flushing Company for the month of December: Product XXX Product ZzZ Estimated beginning inventory 30,500 units 18,800 units Desired ending inventory 36,900 units 14,800 units Region I, anticipated sales 332,000 units 251,000 units Region II, anticipated sales 188,000 units 146,000 units The unit selling price for product XXX is $5 and for product ZZZ is $16. Budgeted sales for the month are

Below is budgeted production and sales information for Flushing Company for the month of December: Product XXX Product ZzZ Estimated beginning inventory 30,500 units 18,800 units Desired ending inventory 36,900 units 14,800 units Region I, anticipated sales 332,000 units 251,000 units Region II, anticipated sales 188,000 units 146,000 units The unit selling price for product XXX is $5 and for product ZZZ is $16. Budgeted sales for the month are

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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Flounder Company budgeted selling expenses of $27,000 in January, $31,500 in February, and $36,000 in March. Actual selling expenses were $28,060 in January, $31,070 in February, and $41,400 in March. The company considers any difference that is less than 5% of the budgeted amount to be immaterial. Prepare a selling expense report that compares budgeted and actual amounts by month and for the year to date. NDER COMPANY g Expense Report iarter Ending March 31 SA $ Budget +A $ Year-to-Date Actual Difference $ +A $ $ $ $ tA $ +A $
Input Data (USD) Budgeted sales April (units) May (units) June (units) July (units) August (units) Selling Price/unit Cash collection pattern Month of sale Following month Uncollectible Cash payments for materials Month of purchase Following month Production requirements Raw material per unit (lb) Raw mat. cost per lb Direct labor hours per unit Direct labor rate per hour Variable MOHD per DL hour Fixed MOHD per month Depreciation in Fixed MOHD Selling & administrative costs Variable S&A cost per unit sold Fixed S&A cost per month Depreciation in Fixed S&A cost Other cash outflows Cash dividends paid each month Equipment purchases May Equipment purchases June Desired ending inventory Finished Goods Raw Materials Cash (S) Beginning account balances - March 31 Cash (S) Accounts Receivable ($) Finished Goods inventory FG cost per unit FG inventory (units) Raw Materials inventory Raw Materials (lb) Accounts Payable ($) Land Buildings and equipment Accumulated Depreciation Common stock…
Prepare the following budgets for the month of January 2021 B.Materials required for production in quantities
Below is budgeted production and sales information for Flushing Company for the month of December. Product XXX Product ZZZ Estimated beginning inventory 29,100 units 19,100 units Desired ending inventory 36,900 units 14,000 units Region I, anticipated sales 306,000 units 279,000 units Region II, anticipated sales 187,000 units 146,000 units The unit selling price for product XXX is $5 and for product ZZZ is $14.Budgeted sales for the month is a.$4,590,000 b.$8,415,000 c.$9,027,000 d.$12,852,000
Below is budgeted production and sales information for Flushing Company for the month of December. Product XXX Product ZZZ Estimated beginning inventory 30,600 units 19,700 units Desired ending inventory 35,200 units 14,300 units Region I, anticipated sales 339,000 units 277,000 units Region II, anticipated sales 184,000 units 142,000 units The unit selling price for product XXX is $4 and for product ZZZ is $14. Budgeted production for product XXX during the month is a.558,200 units b.523,000 units c.518,400 units d.527,600 units
The budget components for Blue Spruce Company for the quarter ended June 30 appear below. Blue Spruce sells recycling bins for $12 each. Budgeted production for the next three months is: April May June 24,500 units 49,500 units 29,500 units Blue Spruce desires to have recycling bins on hand at the end of each month equal to 20 percent of the following month's budgeted sales in units, On March 31, Blue Spruce had 4,400 bins on hand. Five pounds of plastic are required for each recycling bin, At the end of each month, Blue Spruce desires to have 10 percent of the following month's direct material needed for production on hand. At March 31, Blue Spruce had 12,250 pounds of plastic on hand. The direct materials used in production cost $0.50 per pound. Each recycling bin produced requires 0.10 hours of direct labor. Compute the budgeted dollar value of the ending direct materials inventory at the end of May. Cost of ending inventory
Below is budgeted production and sales information for Flushing Company for the month of December. Product XXX Product ZZZ Estimated beginning inventory 31,700 units 19,300 units Desired ending inventory 35,200 units 14,600 units Region I, anticipated sales 332,000 units 251,000 units Region II, anticipated sales 194,000 units 140,000 units The unit selling price for product XXX is $5 and for product ZZZ is $13. Budgeted production for product XXX during the month is a.529,500 units b.522,500 units c.526,000 units d.561,200 units
Cullumber Design provided the following budgeted information for April through July: April May June July Projected sales $133120 $157440 $147200 $168960 Projected merchandise purchases $104960 $117760 $99840 $84480 The cash balance on June 1 is $15360. The company pays 40% of merchandise purchases in the month purchased and 60% in the following month. General operating expenses are budgeted to be $39680 per month of which depreciation is $3840 of this amount. Management pays operating expenses in the month incurred. The company makes loan payments of $5120 per month of which $768 is interest and the remainder is principal. How much are budgeted cash disbursements for June? O $110592. O $151552. O $131584. O $80896.
The following budgeted production and sales information is for Flushing Company for the month of December: Product XXX Product ZZZ Estimated beginning inventory 28,200 units 19,800 units Desired ending inventory 35,000 units 15,300 units Region I, anticipated sales 302,000 units 253,000 units Region II, anticipated sales 196,000 units 141,000 units The unit selling price for product XXX is $7 and for product ZZZ is $15. Budgeted production for product XXX during the month is a. 504,800 units b. 498,000 units c. 533,000 units Od. 491,200 units
XYZ Company is preparing its budgeted balance sheet. The budgeted selling price per unit is $45. 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 budgeted accounts receivable balance at the end of September is closest to: Select one: O a. None of the given answers O b. $140,000 O c. $126,000 O d. $154,000 O e. $96,750
How do I prepare the selling and administrative expense budget for the quarter ended March 31, 20X1?
Use the information below for Flushing Company to answer the question that follow. Below is budgeted production and sales information for Flushing Company for the month of December. Product XXX Product ZZZ Estimated beginning inventory 30,500 units 20,000 units Desired ending inventory 36,500 units 14,900 units Region I, anticipated sales 329,000 units 265,000 units Region II, anticipated sales 190,000 units 148,000 units The unit selling price for product XXX is $5 and for product ZZZ is $13.Budgeted sales for the month are a.$8,812,000 b.$12,116,000 c.$4,660,000 d.$7,964,000