Computer Assignment The SK Industries, Inc. manufactures and sells two products, Accel Active and Accel Regular. In September 2018, SK Industries Budget Department gathered the following data in order to prepare budgets for 2019: 2019 Projected Sales Units Price Product Accel Active 45,000s225 Accel Regular 75,000Siss Expected Target Inventories Product January 1, 2019 December 31, 2019 Accel Active 9,000 12,000 Accel Regular 17,000 25,000 The following direct materials are expected to be used in the two products: Material Used per Direct Material Unit Accel Active Accel Regular pound Unit One 6. Two pound 2 Three pound 2 Projected data for 2019 with respect to direct materials are as follows: Direct Material Expected Purchase PriceExpected Inventories Target Inventories (January 1, 2019) (December 31, 2019) One SIs 27,000 Ib 35,000 lb Two S7 30,000 lb 35,000 lb Three $4 4,000 lb 7,000 lb Projected direct labor requirements and rates for 2019 are as follows: Product Accel Active Hours Per Unit Rate Per Hour 4 SI8 Accel Regular SIs Manufacturing overhead is allocated at the rate of $22 per direct manufacturing labor-hour. Required: Based on the preceding projections and budget requirements for Accel Active and Accel Regular, prepare the following budgets for 2019: 1. Revenues budget (in dollars)
Computer Assignment The SK Industries, Inc. manufactures and sells two products, Accel Active and Accel Regular. In September 2018, SK Industries Budget Department gathered the following data in order to prepare budgets for 2019: 2019 Projected Sales Units Price Product Accel Active 45,000s225 Accel Regular 75,000Siss Expected Target Inventories Product January 1, 2019 December 31, 2019 Accel Active 9,000 12,000 Accel Regular 17,000 25,000 The following direct materials are expected to be used in the two products: Material Used per Direct Material Unit Accel Active Accel Regular pound Unit One 6. Two pound 2 Three pound 2 Projected data for 2019 with respect to direct materials are as follows: Direct Material Expected Purchase PriceExpected Inventories Target Inventories (January 1, 2019) (December 31, 2019) One SIs 27,000 Ib 35,000 lb Two S7 30,000 lb 35,000 lb Three $4 4,000 lb 7,000 lb Projected direct labor requirements and rates for 2019 are as follows: Product Accel Active Hours Per Unit Rate Per Hour 4 SI8 Accel Regular SIs Manufacturing overhead is allocated at the rate of $22 per direct manufacturing labor-hour. Required: Based on the preceding projections and budget requirements for Accel Active and Accel Regular, prepare the following budgets for 2019: 1. Revenues budget (in dollars)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Concept explainers
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
Question
Transcribed Image Text:Computer Assignment
The SK Industries, Inc. manufactures and sells two products, Accel Active and Accel Regular. In
September 2018, SK Industries Budget Department gathered the following data in order to
prepare budgets for 2019:
2019 Projected Sales
Units Price
Accel Active 45,000s225
Accel Regular 75,000|s155
Product
Expected Target Inventories
January 1, 2019 December 31, 2019
Product
Accel Active
9,000
12,000
Accel Regular
17,000
25,000
The following direct materials are expected to be used in the two products:
|Material Used per Unit
Direct Material Unit Accel Active Accel Regular
pound
One
6.
Two
pound
4
2
Three
pound
2
Projected data for 2019 with respect to direct materials are as follows:
Direct Material Expected Purchase Price Expected Inventories Target Inventories
(January 1, 2019) (December 31, 2019)
One
SIs
27,000 lb
35,000 lb
Two
S7
30,000 lb
35,000 lb
Three
$4
4,000 lb
7,000 lb
Projected direct labor requirements and rates for 2019 are as follows:
Product
Accel Active
Hours Per Unit Rate Per Hour
SI8
4
Accel Regular
3
S15
Manufacturing overhead is allocated at the rate of $22 per direct manufacturing labor-hour.
Required: Based on the preceding projections and budget requirements for Accel Active and
Accel Regular, prepare the following budgets for 2019:
1. Revenues budget (in dollars)
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education