$76 Budgeted selling price per unit Budgeted unit sales (all on credit): January 9,500 February 9,900 March 10,600 April 12,600 Raw materials requirement per unit of output 3pounds Raw materials cost $5.00per pound Direct labor requirement per unit of output 2.2direct labor-hours Direct labor wage rate $18.00per direct labor-hour Credit sales are collected: 40% in the month of the sale & 60% in the following month Raw materials ptchases are paid: 30% in the month of purchase & 70% in the following month The ending finished goods inventory should equal 10% of the following month's sales. The ending raw materials inventory should equal 40% of the following month's raw materials production needs. Required: (LO_5) EXCEL a. What are the budgeted sales for February? b. What are the expected cash collections for February? c. According to the production budget, how many units should be produced in February? motoriols should

$76 Budgeted selling price per unit Budgeted unit sales (all on credit): January 9,500 February 9,900 March 10,600 April 12,600 Raw materials requirement per unit of output 3pounds Raw materials cost $5.00per pound Direct labor requirement per unit of output 2.2direct labor-hours Direct labor wage rate $18.00per direct labor-hour Credit sales are collected: 40% in the month of the sale & 60% in the following month Raw materials ptchases are paid: 30% in the month of purchase & 70% in the following month The ending finished goods inventory should equal 10% of the following month's sales. The ending raw materials inventory should equal 40% of the following month's raw materials production needs. Required: (LO_5) EXCEL a. What are the budgeted sales for February? b. What are the expected cash collections for February? c. According to the production budget, how many units should be produced in February? motoriols should

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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Sales price $91 Direct material per unit 31 Direct labor per unit 16 Variable manufacturing overhead per unit 13 Fixed manufacturing overhead per unit 77,000 Variable sales and admin expenses per unit 4 Fixed sales and admin expenses per unit 24,000 Taxes 30%* *of income before taxes Prepare a flexible budgeted income for 100,000 units using the above information from a static budget for 80,000 units: Flexible Budgeted Income Statement $- Select - Cost of Goods Sold - Select - - Select - - Select - - Select - $- Select - $- Select - - Select - - Select - $- Select - - Select - $- Select -
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Q19 Winston Company had two products code named X and Y. The firm had the following budget for August: Product X Product Y Total Sales $ 266,000 $ 450,000 $ 716,000 Variable Costs 192,000 225,000 417,000 Contribution Margin $ 74,000 $ 225,000 $ 299,000 Fixed costs 50,000 108,000 158,000 Operating Income $ 24,000 $ 117,000 $ 141,000 Selling Price per unit $ 100 $ 50 On September 1, the following actual operating results for August were reported: Product X Product Y Total Sales $ 280,000 $ 470,000 $ 750,000 Variable Costs 154,000 188,000 342,000 Contribution Margin $ 126,000 $ 282,000 $ 408,000 Fixed costs 50,000 108,000 158,000 Operating Income $ 76,000 $ 174,000 $ 250,000 Units Sold 3,000 9,000 Total industry volume for both products X and Y was estimated to be 130,000 units at the time of the budget. Actual industry volume for the period for products X and Y was 100,000 units. The firm's market size variance for the period…
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Mirabel Manufacturing Budgeted Income Statement For the Year Ending December 31 Sales Cost of goods sold: Gross Margin Selling & Administrative Net Operating Income Normal Annual Sales Volume Unit Selling Price Variable expense per unit Variable Fixed Commissions Fixed Marketing Expenses Fixed Administrative Model 101 16,000 $ 650 $250 (Note: Each of the following questions is independent of the others) 1. What is Mirabel's over-all break-even point in sales dollars? $ 13,300,000 $ 9,300,000 $ 4,410,000 $ 1,350,000 $ 6,000,000 $ 2,390,000 Model 201 19,000 $750 $ 200 $ 36,750,000 $ 14,150,000 Model 301 11,000 $ 1,100 $ 500
Assume o company's budgeted unit sales and its required production in units for July ore 80.000 units and 78.000 units, respectively. The budgeted direct labor wage rate is $16.50 per hour. The company's total budgeted direct labor cost for July is $1,608.750. What is the budgeted direct lobor-hours required per units Multiple Choice ο ο ο ο 1.35 hours 1.32 hours 1.22 hours 1.25 hours
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Sales (7,000 units x $400 per unit) Costs Direct materials Direct labor Indirect materials Supervisor salary Sales commissions Shipping Administrative salaries Depreciation-office equipment Insurance Office rent Income 1. Compute total variable cost per unit. 2 Compute total fixed costs. $ 2,800,000 280,000 490,000 175,000 65,000 140,000 154,000 210,000 35,000 20,000 36,000 1,195,000 3. Prepare a flexible budget at activity levels of 6,000 units and 8,000 units. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a flexible budget at activity levels of 6,000 units and 8,000 units. Sales Variable costs Direct materials Direct labor Sales commissions Indirect materials Shipping Total variable costs Contribution margin Fixed costs Supervisor salary Administration salaries Depreciation-Office equipment Insurance Office rent Income TEMPO COMPANY Flexible Budget Variable Amount Total Fixed per Unit Cost S 400.00 Flexible Budget for.…