Exercise 20-5 (Algo) Manufacturing: Production budget LO P1 Tyler Company budgets the following unit sales for the next four months: April, 3,800 units; May, 4,400 units; June, 6,300 units; and July, 2,500 units. The company's policy is to maintain finished goods inventory equal to 20% of the next month's unit sales. At the end of March, the company had 500 finished units in inventory. Prepare a production budget for each of the months of April, May, and June. TYLER COMPANY Production Budget April May June Next period budgeted sales units % % Units to produce

Exercise 20-5 (Algo) Manufacturing: Production budget LO P1 Tyler Company budgets the following unit sales for the next four months: April, 3,800 units; May, 4,400 units; June, 6,300 units; and July, 2,500 units. The company's policy is to maintain finished goods inventory equal to 20% of the next month's unit sales. At the end of March, the company had 500 finished units in inventory. Prepare a production budget for each of the months of April, May, and June. TYLER COMPANY Production Budget April May June Next period budgeted sales units % % Units to produce

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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Production Budget
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& EXIT Submit Questions #1 Down Under Products, Ltd., of Australia, has budgeted sales of its popular boomerang for the next four months as follows: Sales in Units 50,000 April May 75,000 June 90,000 July 80,000 The company is now in the process of preparing a production budget for the second quarter. Past experience has shown that end-of-month inventory levels must equal 10% of the following month's sales. The inventory at the end of March was 5,000 units. (Australia's currency is the Australian dollar.) Required: Prepare a production budget for the second quarter; in your budget, show the number of units to be produced each month and for the quarter in total. DOWN UNDER PRODUCTS, LTD. Production Budget April May June Quarter Total needs
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20-24 i Ruiz Company provides the following budgeted sales for the next four months. The company wants to end each month with ending finished goods inventory equal to 30% of next month's budgeted unit sales. Finished goods inventory on April 1 is 201 units. Prepare a production budget for the months of April, May, and June. с raw ill Budgeted sales units. Next period budgeted sales units Ratio of inventory to future sales Total required units Units to produce April 670 FCYNE May 750 RUIZ COMPANY Production Budget April June 700 750 30% July 790 May 700 30% June 790 30% k -- Q Search < Prev 200
Production Budget Pasadena Candle Inc. projected sales of 47,000 candles for January. The estimated January 1 inventory is 3,300 units, and the desired January 31 inventory is 5,000 units. Prepare a production budget report in units for Pasadena Candle Inc. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Pasadena Candle Inc. Production Budget For the Month Ending January 31 Total units available ✩ = 0 Total units to be produced in January All work saved. Previous Next >
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Problem 2. Tyrion Company has the following budgeted production for the 2nd quarter ending in June 30. April May June Quarter Budgeted Production 40,000 50,000 60,000 150,000 Each unit requires 3 pounds of raw material that costs $5.00 per pound. Management desires to end each month with an inventory of raw materials equal to 20% of the following month's production needs. The desired ending inventory for June is 40,000 pounds. Management plans to pay for 60% of raw material purchases in the month acquired and 40% in the following month. In addition, the beginning raw materials inventory for April is budgeted to be 24,000 pounds and the beginning accounts payable for the April is budgeted to be $50,820. Required: a. Prepare the company's direct materials budget and schedule of expected cash disbursements for purchases of materials for the 2nd quarter ending in June. b. If the actual cost of material purchased is $4.5 per pound and 4 pounds of raw materials were purchased to manufacture…
Preparing a Direct Labor Budget Patrick Inc. makes industrial solvents. Planned production in units for the first three months of the coming year is: January 40,000 February 55,000 March 60,000 Each drum of industrial solvent takes 0.3 direct labor hours. The average wage is $18.40 per hour. Required: Prepare a direct labor budget for the months of January, February, and March, as well as the total for the first quarter. Do not include a multiplication symbol as part of your answer. Patrick Inc. Direct Labor Budget For the Coming First Quarter Direct Labor Budget: January February March Total Units to be produced Direct labor hrs per unit Total direct labor hrs Wage rate Direct labor cost
2 Down Under Products, Limited of Australia has budgeted sales of its popular boomerang for the next four months as follows: April May June July Unit Sales 84,000 90,000 124,000 97,000 The company is now in the process of preparing a production budget for the second quarter. Past experience has shown that end-of- month inventory levels must equal 20% of the following month's unit sales. The inventory at the end of March was 16,800 units. Required: Prepare a production budget by month and in total, for the second quarter. Budgeted unit sales Total needs Required production in units Down Under Products, Limited Production Budget April May June Quarter
8.7 Operating Budget, Comprehensive Analysis Ponderosa, Inc., produces wiring harness assemblies used in the production of semi-trailer trucks. The wiring harness assemblies are sold to various truck manufacturers around the world. Projected sales in units for the coming five months are given below. January 10,000 February 10,500 March 13,700 April 16,000 May 18,500 The following data pertain to production policies and manufacturing specifications followed by Ponderosa: Finished goods inventory on January 1 is 900 units. The desired ending inventory for each month is 20 percent of the next month’s sales. The data on materials used are as follows: Direct Material Per-Unit Usage Unit Cost Part #K298 2 $4 Part #C30 3 7 Inventory policy dictates that sufficient materials be on hand at the beginning of the month to satisfy 30 percent of the next month’s production needs. This is exactly the amount of material on hand on…