Built-Tight is preparing its master budget for the quarter ended September 30. Budgeted sales and cash payments for product costs for the quarter follow. B D 1 July $64,000 August $80,000 September 2 Budgeted sales 3 Budgeted cash payments for Direct materials Direct labor Factory overhead $48,000 4 16,160 4,040 20,200 13,440 3,360 16,800 13,760 3,440 17,200 5 6 Sales are 20% cash and 80% on credit. All credit sales are collected in the month following the sale. The June 30 balance sheet includes balances of $15,000 in cash; $45,000 in accounts receivable; $4,500 in accounts payable; and a $5,000 balance in loans payable. A minimum

Built-Tight is preparing its master budget for the quarter ended September 30. Budgeted sales and cash payments for product costs for the quarter follow. B D 1 July $64,000 August $80,000 September 2 Budgeted sales 3 Budgeted cash payments for Direct materials Direct labor Factory overhead $48,000 4 16,160 4,040 20,200 13,440 3,360 16,800 13,760 3,440 17,200 5 6 Sales are 20% cash and 80% on credit. All credit sales are collected in the month following the sale. The June 30 balance sheet includes balances of $15,000 in cash; $45,000 in accounts receivable; $4,500 in accounts payable; and a $5,000 balance in loans payable. A minimum

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Relevant data from the Poster Company’s operating budgets are: Quarter 1 Quarter 2 Sales $208,480 $211,540 Direct material purchases 115,300 120,832 Direct labor 75,205 73,298 Manufacturing overhead 25,300 25,400 Selling and administrative expenses 33,400 33,500 Depreciation included in selling and administrative 1,500 900 Collections from customers 215,392 240,154 Cash payments for purchases 114,290 119,254 Additional data:Capital assets were sold in January for $10,000 and $4,400 in May.Dividends of $4,600 were paid in February. The beginning cash balance was $60,360 and a required minimum cash balance is $59,000. Use this information to prepare a cash budget for the first two quarters of the year: If an amount box does not require an entry, leave it blank. The Poster CompanyCash BudgetFor the First Two Quarters Quarter 1 Quarter 2 $Beginning Cash Balance $Beginning Cash Balance Add: Cash Receipts Collections from Customers…
Janet Lawerence the controller for Toy Bike Maker Inc is preparing a production budget for the year. The company's policy is 1. maintain a finished goods inventory equal to one-half of the following month's sales. 2. Sales of 7,000 toy bikes are budgeted for April. 3. Complete the monthly production budget for the first quarter March 6,000 4. Sales in units Add desired units of ending finished goods inventory Desired total units Less desired units of beginning finished goods inventory Total production units January February 5,000 4,000 2,000 7,000 ? 4,500 ? ? i t ?
Production Budget Direct Mtls Budget Sales Budget Direct Lbr Budget Factory OH Selling Exp Admin Exp Budget Cost of Goods Sold Income Budget Budget Statement Requirement Prepare the Direct Materials Budget for Wisniewski Inc. Company. Company policy calls for a given quarter's ending raw materials inventory to equal 50% of next quarter's expected materials needed for production. The prior year-end inventory is 5,796 lbs of materials, which complies with the policy. The company expects to have 10,080 lbs. of materials in inventory at year-end. The product's manufacturing cost is $211 per unit, including per unit costs of $84 for materials (6 lbs. at $14 per Ib.), $96 for direct labor (4 hours x $24 direct labor rate per hour), $19 for variable overhead, and $12 for fixed overhead. Show less A Wisniewski Inc. Direct Materials Budget For the year ended December 31, 2018 First Qtr. Second Qtr. Third Qtr. Fourth Qtr. Total Budgeted production (units) Materials requirements per unit 1,932…
2 part 2
Question A: ABC Corporation makes one product and has provided the following information to help prepare the master budget for the next four months of operations: Budgeted selling price per unit $ 92 Budgeted unit sales (all on credit): July. . August .... 9,000 11,300 September.. 10,400 October ... 10,800 10,500 November . Raw materials requirement per unit of output 4 pounds Raw materials cost $ 1.00 per pound Credit sales are collected: 40% in the month of the sale 60% in the following month Raw materials purchases are paid: 30% in the month of purchase 70% in the following month The ending finished goods inventory should equal 20% of the following month's sales. Some 2000 units of finished goods was brought out from June. The ending raw materials inventory should equal 30% of the following month's raw materials production needs. Some 13,000 pounds of raw materials were brought out from June. At the end of June, accounts payable for raw materials purchases amounted to $8000.…
Input Data (USD) Budgeted sales April (units) May (units) June (units) July (units) August (units) Selling Price/unit Cash collection pattern Month of sale Following month Uncollectible Cash payments for materials Month of purchase Following month Production requirements Raw material per unit (lb) Raw mat. cost per lb Direct labor hours per unit Direct labor rate per hour Variable MOHD per DL hour Fixed MOHD per month Depreciation in Fixed MOHD Selling & administrative costs Variable S&A cost per unit sold Fixed S&A cost per month Depreciation in Fixed S&A cost Other cash outflows Cash dividends paid each month Equipment purchases May Equipment purchases June Desired ending inventory Finished Goods Raw Materials Cash (S) Beginning account balances - March 31 Cash (S) Accounts Receivable ($) 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…
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Down Under Products' sales budget for the next four months is as follows: Unit Sales April May June July 78,000 85,000 118,000 94,000 The company wants its ending inventory levels to equal 20% of the following month's unit sales. The inventory at the end of March was 15,600 units. Required: Prepare a production budget, by month and in total, for the second quarter. Budgeted unit sales Total needs Required production in units Down Under Products, Limited Production Budget April May June Quarter 0 0 0 0 0 0 0 0
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Down Under Products' sales budget for the next four months is as follows: Unit Sales April May June July 50,000 75,000 90,000 80,000 The company wants its ending inventory levels to equal 10% of the following month's unit sales. The inventory at the end of March was 5,000 units. Required: Prepare a production budget, by month and in total, for the second quarter. Budgeted unit sales Total needs Required production in units Down Under Products, Limited Production Budget April May June Quarter
Fill in the missing information from the following schedules: Sales Budget For the Year Ending Dec. 31, 2018 Quarter 1 Quarter 2 Quarter 3 Quarter 4 Total Expected sales (units) 7,600 8,300 8,700 9,100 fill in the blank 1 Sales price per unit $45 $50 $50 $56 Total sales revenue $342,000 $415,000 $435,000 $fill in the blank 2 $fill in the blank 3 Production Budget For the Year Ending Dec. 31, 2018 Quarter 1 Quarter 2 Quarter 3 Quarter 4 Q1, Year 2 Expected sales 7,600 8,300 8,700 9,100 7,900 Desired ending inventory 1,660 1,740 1,820 fill in the blank 4 900 Total required units 9,260 10,040 10,520 10,680 8,800 Less: Beginning inventory 1,520 1,660 1,740 1,820 1,580 Required production 7,740 8,380 8,780 fill in the blank 5 7,220 Total fill in the blank 6 Direct Materials Budget For the Year Ending Dec. 31, 2018 Quarter 1 Quarter 2 Quarter 3 Quarter 4 Total Units to be produced 7,740…
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