Cahuilla Corporation predicts the following sales in units for the coming four months: May July 470 430 April 430 Multiple Choice June 490 Sales in units Each month's ending finished goods inventory should be 40% of the next month's sales. March 31 finished goods inventory is 172 units. A finished unit requires five pounds of direct material B at a cost of $3.00 per pound. The March 31 Raw. Materials Inventory has 280 pounds of B. Each month's ending Raw Materials Inventory should be 30% of the following month's production needs. The budgeted production for May is:

Cahuilla Corporation predicts the following sales in units for the coming four months: May July 470 430 April 430 Multiple Choice June 490 Sales in units Each month's ending finished goods inventory should be 40% of the next month's sales. March 31 finished goods inventory is 172 units. A finished unit requires five pounds of direct material B at a cost of $3.00 per pound. The March 31 Raw. Materials Inventory has 280 pounds of B. Each month's ending Raw Materials Inventory should be 30% of the following month's production needs. The budgeted production for May is:

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

LouAnne's Widgets has the following sales and production for the next quarter: January February March Sales 4,000 units 7,000 units 9,000 units Production 4,600 units 7,400 units 9,200 units Each unit requires 1/2 DLH to manufacture and each DLH is paid $18. Labor is paid in the month incurred. FOH is applied based on DLH. Estimated variable FOH for the year is expected to be $500,000 and estimated DLH for the year are expected to be 100,000. Fixed FOH is estimated to be $51,800 per month with $2,590 of that amount being depreciation of factory equipment and building. FOH is paid in the month incurred. How much cash will LouAnne need on hand to pay for February's total factory overhead costs?
The Chani Company had the following sales forecast: January February March April 440 500 380 300 The company buys products for $320 each and then resells them for $430 each and pays for operating expenses of $2,100 in rent and $6,300 in salaries each month. The company maintains ending inventory of 20% of next month's sales and had 130 units of inventory at the end of last year. For January, what total dollar amount would appear in the company's purchases budget?
Croy Inc. has the following projected sales for the next five months: Month Sales in Units April 3,450 May 3,940 June 4,640 July 4,180 August 3,980 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 $3.00 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 3,695 pounds. Required: 1. Determine budgeted production for April, May, and June. 2. Determine budgeted cost of materials purchased for April and May.
A comparative income statement is given below for McKenzie Sales, Limited, of Toronto: McKenzie Sales, Limited Comparative Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses Administrative expenses Total expenses Net operating income Interest expense Net income before taxes This Year $ 7,350,000 4,610,000 2,740,000 1,390,000 706,000 2,096,000 644,000 101,000 $ 543,000 Last Year $ 5,586,000 3,511,500 2,074,500 1,079,500 613,500 1,693,000 381,500 87,000 $ 294,500 Members of the company's board of directors are surprised to see that net income increased by only $248,500 when sales increased by $1,764,000. Required: 1. Express each year's income statement in common-size percentages. (Round your percentage answers to 1 decimal place (i.e., 0.1234 should be entered as 12.3).)
Cop
pos Ibie Furniture, Inc., estimates the following number of mattress sales for the first four months of 2019: Month Sales January February 22,000 39,800 March 28,600 April 44,200 Finished goods inventory at the end of December is 6,900 units. Target ending finished goods inventory is 10% of the next month's sales. How many mattresses should be produced in the first quarter of 2019? A. 92,340 mattresses B. 68,840 mattresses TE O C. 87,920 mattresses 1 a O D. 57,760 mattresses Mi F Ju fir https: Cha The es sales 4 Missing Calculator Next http://mi tho ?3 O O O O
Crest Products expects the following sales of its single product Units September October November December January Required: Crest has an ending finished goods Inventory policy of 30% of the next month's sales needs. September 1 Inventory is projected to be 7,400 units. Each finished unit requires 2 units of Component X and 3 units of Component Z. August 1 materials Inventory includes 3,000 units of Component X and 159,000 units of Component Z. Crest desires to maintain a Component X Inventory equal to 10% of next month's production needs and a Component Z Inventory equal to 20% of next month's production needs. a. Prepare a production budget for Crest for the quarter ending December 31. 26,800 19,700 16,100 18,700 16,000 Crest Products Production Budget For the Quarter Ending December 31 October November Budgeted unit sales Plus: Ending finished goods inventory Less: Beginning finished goods inventory Budgeted production (units) Budgeted production (units) Direct materials…
The Lumber Yard has projected the sales below for the next four months. The company collects 37 percent of i sales in the month of sale, 44 percent in the month following the month of sale, 16 percent two months after the month of sale, and never collects 3 percent of its sales. How much will the company collect in April? April January February March Sales $137,900 $144,400 $151,975 $166,000 Multiple Choice O $152,375 $155,530 $119,767 $148,365
Fi
Nyanza, Incorporated anticipates sales of 55,000 units, 53,000 units, and 56,000 units in July, August, and September, respectively. Company policy is to maintain an ending finished-goods inventory equal to 30% of the following month's sales. On the basis of this information, how many units would the company plan to produce in July?
Wright 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…
Vishnu