Budget Electronics is planning to sell 2,200 and produce 2,000 wicker baskets during June. Each unit requires 120 linear feet of wicker and 0.70 hours of direct labor. Wicker costs $0.35 per linear foot and employees of the company are paid $13.00 per hour. Manufacturing overhead is applied at a rate of 140% of direct labor costs. The company wants to have 10% of the wicker needed for the next month’s production available at the end of each month. The expected production in July is 1,800 baskets. What is the total amount that will be budgeted for direct labor for June?
- Budget Electronics is planning to sell 2,200 and produce 2,000 wicker baskets during June. Each unit requires 120 linear feet of wicker and 0.70 hours of direct labor. Wicker costs $0.35 per linear foot and employees of the company are paid $13.00 per hour. Manufacturing
overhead is applied at a rate of 140% of direct labor costs. The company wants to have 10% of the wicker needed for the next month’s production available at the end of each month. The expected production in July is 1,800 baskets. What is the total amount that will be budgeted for direct labor for June? -
- Walker Entertainment is a distributor of video games and expects its video game sales to be as follows for the first 4 months of 2014:
January $100,000
February $150,000
March $180,000
April $200,000
Walker’s cost of goods sold is 70% of sales. Ending inventory is expected to equal 40% of the next month's cost of goods sold. How much are budgeted inventory purchases for February?
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- Jazzy Janitors has found that only 10% of its invoiced amounts are paid in the same month that the work is completed. Sixty percent are paid in the month after the work is completed and 30% are paid in the second month after the work is completed. During December 2013, Jazzy Janitors’ invoiced $200,000 to clients. Projected revenues for the first six months of 2014 are given below:
Month Revenue
January $180,000
February 215,000
March 220,000
April 218,000
May 240,000
June 255,000
What are the expected cash receipts for April, 2014?
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- Market Leasing budgeted credit sales in the first quarter of 2014 to be as follows:
January $210,000
February 190,000
March 170,000
The budgeted beginning cash balance at February 1 is expected to be $14,000 and budgeted monthly cash disbursements are expected to be $198,000. Credit sales in December, 2013 are expected to be $204,000. The company expects to collect 20% of a month’s sales in the month of sale and 80% in the following month. How much is the budgeted cash balance at the end of February?
- In the Dichter Co., indirect labor is budgeted for $72,000 and factory supervision is budgeted for $24,000 at normal capacity of 160,000 direct labor hours. If 180,000 direct labor hours are worked, flexible budget total for these costs is
6.
- Chambers, Inc. uses flexible budgets. At normal capacity of 16,000 units, budgeted manufacturing overhead is: $64,000 variable and $180,000 fixed. If Chambers had actual overhead costs of $250,000 for 18,000 units produced, what is the difference between actual and budgeted costs?
7.
- Stut Corporation, a retailer, plans to sell 28,000 units of Product X during the month of August. If the company has 6,000 units on hand at the start of the month, and plans to have 9,000 units on hand at the end of the month, how many units of Product X must be purchased from the supplier during the month?
8.
- Green Company’s sales are 20% cash and 80% credit. Of the credit sales, 60% are collected in the month of sale and 30% in the month following the sale. The balance is collected during the following month. Budgeted sales data is as follows:
June $300,000
July $250,000
August $280,000
September $310,000
How much is total
9.
- Wisdom Toys has budgeted sales and production over the next quarter as follows:
Unit Sales Production
September 43,000 44,400
October 50,000 52,800
November 64,000 61,200
The company requires that 20% of the next month’s sales in units are on hand at the end of each month. December sales are expected to be 50,000 units. How many video games are in inventory at October 31?
10.
- SalaRita’s sales are 32% cash and 68% credit. Of the credit sales, 40% of credit sales are collected in the month of sale, 45% in the month following the sale, and 15% is collected two months after. Budgeted sales data is as follows:
June $200,000
July 120,000
August 150,000
How much is total cash collected during August?
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