FlashKick Company manufactures and sells soccer balls for teams of children in elementary and high school. FlashKick’s best-selling lines are the practice ball line (durable soccer balls for training and practice) and the match ball line (high-performance soccer balls used in games). In the first four months of next year, FlashKick expects to sell the following: Practice Balls Match Balls Units Selling Price Units Selling Price January 46,000 $8.65 6,900 $16.80 February 64,000 $8.65 8,200 $16.80 March 84,000 $8.65 12,500 $16.80 April 100,000 $8.65 16,000 $16.80 FlashKick requires ending inventory of product to equal 20 percent of the next month’s unit sales. Beginning inventory in January was 9,200 practice soccer balls and 1,380 match soccer balls. Every practice ball requires 0.5 square yard of polyvinyl chloride panels, one bladder with valve (to fill with air), and 3 ounces of glue. FlashKick’s policy is that 20 percent of the following month’s production needs for raw materials be in ending inventory. Beginning inventory in January for all raw materials met this requirement. Required: Construct a direct materials purchases budget for each type of raw materials for the practice ball line for January and February of the coming year. If required, round your answers to the nearest cent. Direct materials purchases budget for polyvinyl chloride panels: FlashKick Company Direct Materials Purchases Budget - Polyvinyl Chloride Panels For January and February Polyvinyl chloride panels: January February Units produced fill in the blank fill in the blank fill in the blank fill in the blank Direct materials for production fill in the blank fill in the blank fill in the blank fill in the blank Total needed fill in the blank fill in the blank fill in the blank fill in the blank Direct materials purchases fill in the blank fill in the blank Direct materials purchases budget for bladder and valve: FlashKick Company Direct Materials Purchases Budget - Bladder and Valve For January and February Bladder and valve: January February Units produced fill in the blank fill in the blank fill in the blank fill in the blank Direct materials for production fill in the blank fill in the blank fill in the blank fill in the blank Total needed fill in the blank fill in the blank fill in the blank fill in the blank Direct materials purchases fill in the blank fill in the blank Direct materials purchases budget for glue: FlashKick Company Direct Materials Purchases Budget - Glue For January and February Glue: January February Units produced fill in the blank fill in the blank fill in the blank fill in the blank Direct materials for production fill in the blank fill in the blank fill in the blank fill in the blank Total needed fill in the blank fill in the blank fill in the blank fill in the blank Direct materials purchases fill in the blank fill in the blank

FlashKick Company manufactures and sells soccer balls for teams of children in elementary and high school. FlashKick’s best-selling lines are the practice ball line (durable soccer balls for training and practice) and the match ball line (high-performance soccer balls used in games). In the first four months of next year, FlashKick expects to sell the following: Practice Balls Match Balls Units Selling Price Units Selling Price January 46,000 $8.65 6,900 $16.80 February 64,000 $8.65 8,200 $16.80 March 84,000 $8.65 12,500 $16.80 April 100,000 $8.65 16,000 $16.80 FlashKick requires ending inventory of product to equal 20 percent of the next month’s unit sales. Beginning inventory in January was 9,200 practice soccer balls and 1,380 match soccer balls. Every practice ball requires 0.5 square yard of polyvinyl chloride panels, one bladder with valve (to fill with air), and 3 ounces of glue. FlashKick’s policy is that 20 percent of the following month’s production needs for raw materials be in ending inventory. Beginning inventory in January for all raw materials met this requirement. Required: Construct a direct materials purchases budget for each type of raw materials for the practice ball line for January and February of the coming year. If required, round your answers to the nearest cent. Direct materials purchases budget for polyvinyl chloride panels: FlashKick Company Direct Materials Purchases Budget - Polyvinyl Chloride Panels For January and February Polyvinyl chloride panels: January February Units produced fill in the blank fill in the blank fill in the blank fill in the blank Direct materials for production fill in the blank fill in the blank fill in the blank fill in the blank Total needed fill in the blank fill in the blank fill in the blank fill in the blank Direct materials purchases fill in the blank fill in the blank Direct materials purchases budget for bladder and valve: FlashKick Company Direct Materials Purchases Budget - Bladder and Valve For January and February Bladder and valve: January February Units produced fill in the blank fill in the blank fill in the blank fill in the blank Direct materials for production fill in the blank fill in the blank fill in the blank fill in the blank Total needed fill in the blank fill in the blank fill in the blank fill in the blank Direct materials purchases fill in the blank fill in the blank Direct materials purchases budget for glue: FlashKick Company Direct Materials Purchases Budget - Glue For January and February Glue: January February Units produced fill in the blank fill in the blank fill in the blank fill in the blank Direct materials for production fill in the blank fill in the blank fill in the blank fill in the blank Total needed fill in the blank fill in the blank fill in the blank fill in the blank Direct materials purchases fill in the blank fill in the blank

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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Question

	Practice Balls	Match Balls
	Units	Selling Price	Units	Selling Price
January	46,000	$8.65	6,900	$16.80
February	64,000	$8.65	8,200	$16.80
March	84,000	$8.65	12,500	$16.80
April	100,000	$8.65	16,000	$16.80

FlashKick requires ending inventory of product to equal 20 percent of the next month’s unit sales. Beginning inventory in January was 9,200 practice soccer balls and 1,380 match soccer balls.

Every practice ball requires 0.5 square yard of polyvinyl chloride panels, one bladder with valve (to fill with air), and 3 ounces of glue. FlashKick’s policy is that 20 percent of the following month’s production needs for raw materials be in ending inventory. Beginning inventory in January for all raw materials met this requirement.

Required:

Construct a direct materials purchases budget for each type of raw materials for the practice ball line for January and February of the coming year. If required, round your answers to the nearest cent.

Direct materials purchases budget for polyvinyl chloride panels:

FlashKick Company
Direct Materials Purchases Budget - Polyvinyl Chloride Panels
For January and February
Polyvinyl chloride panels:	January	February
Units produced	fill in the blank	fill in the blank
	fill in the blank	fill in the blank
Direct materials for production	fill in the blank	fill in the blank
	fill in the blank	fill in the blank
Total needed	fill in the blank	fill in the blank
	fill in the blank	fill in the blank
Direct materials purchases	fill in the blank	fill in the blank

Direct materials purchases budget for bladder and valve:

FlashKick Company
Direct Materials Purchases Budget - Bladder and Valve
For January and February
Bladder and valve:	January	February
Units produced	fill in the blank	fill in the blank
	fill in the blank	fill in the blank
Direct materials for production	fill in the blank	fill in the blank
	fill in the blank	fill in the blank
Total needed	fill in the blank	fill in the blank
	fill in the blank	fill in the blank
Direct materials purchases	fill in the blank	fill in the blank

Direct materials purchases budget for glue:

FlashKick Company
Direct Materials Purchases Budget - Glue
For January and February
Glue:	January	February
Units produced	fill in the blank	fill in the blank
	fill in the blank	fill in the blank
Direct materials for production	fill in the blank	fill in the blank
	fill in the blank	fill in the blank
Total needed	fill in the blank	fill in the blank
	fill in the blank	fill in the blank
Direct materials purchases	fill in the blank	fill in the blank

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