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 47,000 $8.85 6,300 $17.90 February 56,000 $8.85 8,400 $17.90 March 81,000 $8.85 13,500 $17.90 April 115,000 $8.85 17,500 $17.90 FlashKick requires ending inventory of product to equal 20 percent of the next month’s unit sales. Beginning inventory in January was 9,400 practice soccer balls and 1,260 match soccer balls. Every practice ball requires 0.5 square yard of polyvinyl chloride panels, one bladder with valve (to fill with air), and 2 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: Question Content Area 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 CompanyDirect Materials Purchases Budget - Polyvinyl Chloride PanelsFor January and February Polyvinyl chloride panels: January February Units produced fill in the blank 5916c6056f96f88_1 fill in the blank 5916c6056f96f88_2 - Select - - Select - Direct materials for production fill in the blank 5916c6056f96f88_6 fill in the blank 5916c6056f96f88_7 - Select - - Select - Total needed fill in the blank 5916c6056f96f88_11 fill in the blank 5916c6056f96f88_12 - Select - - Select - Direct materials purchases fill in the blank 5916c6056f96f88_16 fill in the blank 5916c6056f96f88_17 Question Content Area Direct materials purchases budget for bladder and valve: FlashKick CompanyDirect Materials Purchases Budget - Bladder and ValveFor January and February Bladder and valve: January February Units produced fill in the blank aa88c209706b034_1 fill in the blank aa88c209706b034_2 - Select - - Select - Direct materials for production fill in the blank aa88c209706b034_6 fill in the blank aa88c209706b034_7 - Select - - Select - Total needed fill in the blank aa88c209706b034_11 fill in the blank aa88c209706b034_12 - Select - - Select - Direct materials purchases fill in the blank aa88c209706b034_16 fill in the blank aa88c209706b034_17 Question Content Area Direct materials purchases budget for glue: FlashKick CompanyDirect Materials Purchases Budget - GlueFor January and February Glue: January February Units produced fill in the blank 69a9effb3fd0f7f_1 fill in the blank 69a9effb3fd0f7f_2 - Select - - Select - Direct materials for production fill in the blank 69a9effb3fd0f7f_6 fill in the blank 69a9effb3fd0f7f_7 - Select - - Select - Total needed fill in the blank 69a9effb3fd0f7f_11 fill in the blank 69a9effb3fd0f7f_12 - Select - - Select - Direct materials purchases fill in the blank 69a9effb3fd0f7f_16 fill in the blank 69a9effb3fd0f7f_17

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 47,000 $8.85 6,300 $17.90 February 56,000 $8.85 8,400 $17.90 March 81,000 $8.85 13,500 $17.90 April 115,000 $8.85 17,500 $17.90 FlashKick requires ending inventory of product to equal 20 percent of the next month’s unit sales. Beginning inventory in January was 9,400 practice soccer balls and 1,260 match soccer balls. Every practice ball requires 0.5 square yard of polyvinyl chloride panels, one bladder with valve (to fill with air), and 2 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: Question Content Area 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 CompanyDirect Materials Purchases Budget - Polyvinyl Chloride PanelsFor January and February Polyvinyl chloride panels: January February Units produced fill in the blank 5916c6056f96f88_1 fill in the blank 5916c6056f96f88_2 - Select - - Select - Direct materials for production fill in the blank 5916c6056f96f88_6 fill in the blank 5916c6056f96f88_7 - Select - - Select - Total needed fill in the blank 5916c6056f96f88_11 fill in the blank 5916c6056f96f88_12 - Select - - Select - Direct materials purchases fill in the blank 5916c6056f96f88_16 fill in the blank 5916c6056f96f88_17 Question Content Area Direct materials purchases budget for bladder and valve: FlashKick CompanyDirect Materials Purchases Budget - Bladder and ValveFor January and February Bladder and valve: January February Units produced fill in the blank aa88c209706b034_1 fill in the blank aa88c209706b034_2 - Select - - Select - Direct materials for production fill in the blank aa88c209706b034_6 fill in the blank aa88c209706b034_7 - Select - - Select - Total needed fill in the blank aa88c209706b034_11 fill in the blank aa88c209706b034_12 - Select - - Select - Direct materials purchases fill in the blank aa88c209706b034_16 fill in the blank aa88c209706b034_17 Question Content Area Direct materials purchases budget for glue: FlashKick CompanyDirect Materials Purchases Budget - GlueFor January and February Glue: January February Units produced fill in the blank 69a9effb3fd0f7f_1 fill in the blank 69a9effb3fd0f7f_2 - Select - - Select - Direct materials for production fill in the blank 69a9effb3fd0f7f_6 fill in the blank 69a9effb3fd0f7f_7 - Select - - Select - Total needed fill in the blank 69a9effb3fd0f7f_11 fill in the blank 69a9effb3fd0f7f_12 - Select - - Select - Direct materials purchases fill in the blank 69a9effb3fd0f7f_16 fill in the blank 69a9effb3fd0f7f_17

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 Content Area

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 CompanyDirect Materials Purchases Budget - Polyvinyl Chloride PanelsFor January and February

Polyvinyl chloride panels:	January	February
Units produced	fill in the blank 5916c6056f96f88_1	fill in the blank 5916c6056f96f88_2
	- Select -	- Select -
Direct materials for production	fill in the blank 5916c6056f96f88_6	fill in the blank 5916c6056f96f88_7
	- Select -	- Select -
Total needed	fill in the blank 5916c6056f96f88_11	fill in the blank 5916c6056f96f88_12
	- Select -	- Select -
Direct materials purchases	fill in the blank 5916c6056f96f88_16	fill in the blank 5916c6056f96f88_17

Question Content Area

Direct materials purchases budget for bladder and valve:

FlashKick CompanyDirect Materials Purchases Budget - Bladder and ValveFor January and February

Bladder and valve:	January	February
Units produced	fill in the blank aa88c209706b034_1	fill in the blank aa88c209706b034_2
	- Select -	- Select -
Direct materials for production	fill in the blank aa88c209706b034_6	fill in the blank aa88c209706b034_7
	- Select -	- Select -
Total needed	fill in the blank aa88c209706b034_11	fill in the blank aa88c209706b034_12
	- Select -	- Select -
Direct materials purchases	fill in the blank aa88c209706b034_16	fill in the blank aa88c209706b034_17

Question Content Area

Direct materials purchases budget for glue:

FlashKick CompanyDirect Materials Purchases Budget - GlueFor January and February

Glue:	January	February
Units produced	fill in the blank 69a9effb3fd0f7f_1	fill in the blank 69a9effb3fd0f7f_2
	- Select -	- Select -
Direct materials for production	fill in the blank 69a9effb3fd0f7f_6	fill in the blank 69a9effb3fd0f7f_7
	- Select -	- Select -
Total needed	fill in the blank 69a9effb3fd0f7f_11	fill in the blank 69a9effb3fd0f7f_12
	- Select -	- Select -
Direct materials purchases	fill in the blank 69a9effb3fd0f7f_16	fill in the blank 69a9effb3fd0f7f_17

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	Practice Balls	Match Balls
	Units	Selling Price	Units	Selling Price
January	47,000	$8.85	6,300	$17.90
February	56,000	$8.85	8,400	$17.90
March	81,000	$8.85	13,500	$17.90
April	115,000	$8.85	17,500	$17.90