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Croy Incorporated has the following projected sales for the next five months: Month April May June July August Sales in Units 3,520 3,800 4,510 4,185 3,940 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 cost $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 3,660 pounds. Required: 1. Determine budgeted production for April, May, and June. 2. Determine budgeted cost of direct materials purchased for April and May. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine budgeted production for April, May, and June. Note: Do not round your intermediate calculations and round your final answers to the nearest whole number. Budgeted Production (Units) April May Required 1 June Required 2 >

Croy Incorporated has the following projected sales for the next five months: Month April May June July August Sales in Units 3,520 3,800 4,510 4,185 3,940 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 cost $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 3,660 pounds. Required: 1. Determine budgeted production for April, May, and June. 2. Determine budgeted cost of direct materials purchased for April and May. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine budgeted production for April, May, and June. Note: Do not round your intermediate calculations and round your final answers to the nearest whole number. Budgeted Production (Units) April May Required 1 June Required 2 >

FINANCIAL ACCOUNTING
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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Croy Incorporated has the following projected sales for the next five months: Month April May June July August Sales in Units 3,520 3,800 4,510 4,185 3,940 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 cost $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 3,660 pounds. Required: 1. Determine budgeted production for April, May, and June. 2. Determine budgeted cost of direct materials purchased for April and May. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine budgeted production for April, May, and June. Note: Do not round your intermediate calculations and round your final answers to the nearest whole number. Budgeted Production (Units) April May < Required 1 June Required 2 >
Transcribed Image Text:Croy Incorporated has the following projected sales for the next five months: Month April May June July August Sales in Units 3,520 3,800 4,510 4,185 3,940 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 cost $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 3,660 pounds. Required: 1. Determine budgeted production for April, May, and June. 2. Determine budgeted cost of direct materials purchased for April and May. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine budgeted production for April, May, and June. Note: Do not round your intermediate calculations and round your final answers to the nearest whole number. Budgeted Production (Units) April May < Required 1 June Required 2 >
Required 1 Required 2 Determine budgeted cost of direct materials purchased for April and May. Note: Use rounded Budgeted Production units in intermediate calculations. Round your answers to 2 decimal places. April Budgeted Cost of Material Purchased < Required 1 May Required 2 >
Transcribed Image Text:Required 1 Required 2 Determine budgeted cost of direct materials purchased for April and May. Note: Use rounded Budgeted Production units in intermediate calculations. Round your answers to 2 decimal places. April Budgeted Cost of Material Purchased < Required 1 May Required 2 >
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