Current Attempt in ProgressSheffield Corp. makes and sells deck coating which is sold by the gallon. Two pounds of sand are needed to make one gallon of deckcoating. Budgeted production of deck coating for the next two months follows:September23,000 gallonsOctober33,100 gallonsThe company wants to maintain monthly ending inventories of sand equal to 20% of the following month's production needs. OnAugust 31, 9,200 pounds of sand were on hand.How much sand should be purchased in September?Sand to be purchased

Step 1:Computation of the pounds of sand to be purchased in September: SeptemberAUnits to be…

Answered: Current Attempt in Progress Sheffield…

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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Phoenix Management helps rental property owners find renters and charges the owners one-half of the first month’s rent for this service. For August 2022, Phoenix expects to find renters for 100 apartments with an average first month’s rent of $700. Budgeted cost data per tenant application for 2022 follow: Professional labor: 1.5 hours at $20.00 per hour Credit checks: $50.00 Phoenix expects other costs, including the lease payment for the building, secretarial help, and utilities, to be $3,000 per month. On average, Phoenix is successful in placing one tenant for every three applicants. Actual rental applications in August 2022 were 270. Phoenix paid $9,500 for 400 hours of professional labor. Credit checks went up to $55 per application. Other costs in August 2022 (lease, secretarial help, and utilities) were $3,600. The average first monthly rentals for August 2022 were $800 per apartment unit for 90 units. Part 1 (Static) Required: 1. (a) What is the master budget variance…
Sthilaire Corporation is working on its direct labor budget for the next two months. Each unit of output requires 0.48 direct labor-hours. The direct labor rate is $9.00 per direct labor-hour. The production budget calls for producing 1,800 units in April and 1,700 units in May. The company guarantees its direct labor workers a 40-hour paid work week. With the number of workers currently employed, that means that the company is committed to paying its direct labor work force for at least 960 hours in total each month even if there is not enough work to keep them busy. Required: Prepare the direct labor budget for the next two months. (Round "labor-hours per unit" & "labor cost per hour" answers to 2 decimal places.)
La Ying Lives produces leather handbags. The production budget for the next four months is: July 5700 units, August 7100, September 8200, October 8900. Each handbag requires o.6 square meters of leather. La Ying's leather inventory policy is 20% of next month's production needs. If the leather policy is met, what will the July 1 inventory be? Select one: a. 684.0 square meters b. 234.0 square meters c. 852.0 square meters d. 1759.0 square meters
Jerry Jay is the CEO of Jerry's Jackets (JJ). In June, Jerry expects to produce and sell 3100 jackets, and he expects his June utilities cost to be $8,000 plus $0.60 per jacket. After the month ended, it was reported that 2960 jackets were sold in June and $10,190 was spent on utilities. What is the planning budget for utilities in June? Round your answer to the nearest whole number.
I need the answer as soon as possible
Accepting Business at a Special Price Power Pack Company expects to operate at 80% of productive capacity during July. The total manufacturing costs for July for the production of 45,000 batteries are budgeted as follows: Direct materials $375,000 Direct labor 160,750 Variable factory overhead 71,750 Fixed factory overhead 261,250 Total manufacturing costs $868,750 The company has an opportunity to submit a bid for 4,500 batteries to be delivered by July 31 to a government agency. If the contract is obtained, it is anticipated that the additional activity will not interfere with normal production during July or increase the selling or administrative expenses. What is the unit cost below which Power Pack Company should not go in bidding on the government contract? Round your answer to two decimal places. per unit
The Company manufactures foam cushions. The number of cushions to be produced in the upcoming three months follows: Number of foam cushions to be produced in July 13,000 Number of foam cushions to be produced in August 19,000 Number of foam cushions to be produced in September 12,000 Each cushion requires 2 pounds of the foam used as stuffing. The Company has a policy that the ending inventory of foam each month must be equal to 30% of the following month's expected production needs. How many pounds of foam does the Company need to purchase in August?
esin needs for the next month's production. Each unit of G12 requires three quarter of a pound of rain Wiventory at the end of each month. Gregor has a very reliable supplier of res year, and the amount of resin to purchase for part January, February, and March are 50,000 units, 100,000 units, and 60,000 units, respectively Requirements NC (a) How many units of part G12 will Gregor budget to produce in January and February? (b) How many pounds of resin will Gregor budget to purchase in January? #1 Units to be produced Requirement (b) How many pounds of resin will Gregor budget to purchase in January? Select the labels and enter the amounts to compute the pounds of resin to be purchased in January. January Total production needs Total material needs Less: Total material purchases
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! Required information [The following information applies to the questions displayed below.] Each gallon of Old Guard, a popular aftershave lotion, requires 2.75 ounces of ocean scent. Budgeted production of Old Guard for the first three quarters of 2019 is as follows: Quarter I Quarter II Quarter III 10,000 gallons 18,000 gallons 12,000 gallons Management's policy is to have on hand at the end of every quarter enough ocean scent inventory to meet 33% of the next quarter's production needs. At the beginning of Quarter I, 9,075 ounces of ocean scent were on hand. Required: a. Calculate the number of ounces of ocean scent to be purchased in each of the first two quarters of 2019. Quarter I Quarter II Number of ounces
Tucker Inc. makes dog treats. The material to be purchased from the production budget is as follows: April May JuneMaterial to be purchased 161,800 270,900 195,600 Tucker Inc. pays $0.40 per kilo for its material. 60% of a months purchases are paid for in th month of purchase, 40% is paid for in the following month. The March 31 accounts payable balance is $10,000 and will be paid in full in the first month. The total cash disbursement for April is ____________ The total cash disbursement for May is ____________ The total cash disbursement for June is ____________ The total cash disbursement for the quarter is____________
Saved en hrc produces lesther handbags The production budget for the next four months is July 5,200 units, August 7,600, September 7,500, October 31 8300 Each handbag requires 19 hous of unskilled labor (paid $15 per hour) and 3.2 hours of skilled labor (pald $23 per hour), What will be the total abor cost for the morth of August? Matple Croce ST75.950 $E59 360 $125 350 $TAB00

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