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 $8.50 6,700 $17.50 February 55,000 $8.50 8,300 $17.50 March 86,000 $8.50 13,500 $17.50 April 115,000 $8.50 16,500 $17.50 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 1,340 match soccer balls. Every practice ball requires 0.7 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 064c9dfaafc6f7f_1 fill in the blank 064c9dfaafc6f7f_2 - Select - - Select - Direct materials for production fill in the blank 064c9dfaafc6f7f_6 fill in the blank 064c9dfaafc6f7f_7 - Select - - Select - Total needed fill in the blank 064c9dfaafc6f7f_11 fill in the blank 064c9dfaafc6f7f_12 - Select - - Select - Direct materials purchases fill in the blank 064c9dfaafc6f7f_16 fill in the blank 064c9dfaafc6f7f_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 ed68b8026052f8a_1 fill in the blank ed68b8026052f8a_2 - Select - - Select - Direct materials for production fill in the blank ed68b8026052f8a_6 fill in the blank ed68b8026052f8a_7 - Select - - Select - Total needed fill in the blank ed68b8026052f8a_11 fill in the blank ed68b8026052f8a_12 - Select - - Select - Direct materials purchases fill in the blank ed68b8026052f8a_16 fill in the blank ed68b8026052f8a_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 e9b494049019048_1 fill in the blank e9b494049019048_2 - Select - - Select - Direct materials for production fill in the blank e9b494049019048_6 fill in the blank e9b494049019048_7 - Select - - Select - Total needed fill in the blank e9b494049019048_11 fill in the blank e9b494049019048_12 - Select - - Select - Direct materials purchases fill in the blank e9b494049019048_16 fill in the blank e9b4940490

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 $8.50 6,700 $17.50 February 55,000 $8.50 8,300 $17.50 March 86,000 $8.50 13,500 $17.50 April 115,000 $8.50 16,500 $17.50 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 1,340 match soccer balls. Every practice ball requires 0.7 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 064c9dfaafc6f7f_1 fill in the blank 064c9dfaafc6f7f_2 - Select - - Select - Direct materials for production fill in the blank 064c9dfaafc6f7f_6 fill in the blank 064c9dfaafc6f7f_7 - Select - - Select - Total needed fill in the blank 064c9dfaafc6f7f_11 fill in the blank 064c9dfaafc6f7f_12 - Select - - Select - Direct materials purchases fill in the blank 064c9dfaafc6f7f_16 fill in the blank 064c9dfaafc6f7f_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 ed68b8026052f8a_1 fill in the blank ed68b8026052f8a_2 - Select - - Select - Direct materials for production fill in the blank ed68b8026052f8a_6 fill in the blank ed68b8026052f8a_7 - Select - - Select - Total needed fill in the blank ed68b8026052f8a_11 fill in the blank ed68b8026052f8a_12 - Select - - Select - Direct materials purchases fill in the blank ed68b8026052f8a_16 fill in the blank ed68b8026052f8a_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 e9b494049019048_1 fill in the blank e9b494049019048_2 - Select - - Select - Direct materials for production fill in the blank e9b494049019048_6 fill in the blank e9b494049019048_7 - Select - - Select - Total needed fill in the blank e9b494049019048_11 fill in the blank e9b494049019048_12 - Select - - Select - Direct materials purchases fill in the blank e9b494049019048_16 fill in the blank e9b4940490

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 064c9dfaafc6f7f_1	fill in the blank 064c9dfaafc6f7f_2
	- Select -	- Select -
Direct materials for production	fill in the blank 064c9dfaafc6f7f_6	fill in the blank 064c9dfaafc6f7f_7
	- Select -	- Select -
Total needed	fill in the blank 064c9dfaafc6f7f_11	fill in the blank 064c9dfaafc6f7f_12
	- Select -	- Select -
Direct materials purchases	fill in the blank 064c9dfaafc6f7f_16	fill in the blank 064c9dfaafc6f7f_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 ed68b8026052f8a_1	fill in the blank ed68b8026052f8a_2
	- Select -	- Select -
Direct materials for production	fill in the blank ed68b8026052f8a_6	fill in the blank ed68b8026052f8a_7
	- Select -	- Select -
Total needed	fill in the blank ed68b8026052f8a_11	fill in the blank ed68b8026052f8a_12
	- Select -	- Select -
Direct materials purchases	fill in the blank ed68b8026052f8a_16	fill in the blank ed68b8026052f8a_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 e9b494049019048_1	fill in the blank e9b494049019048_2
	- Select -	- Select -
Direct materials for production	fill in the blank e9b494049019048_6	fill in the blank e9b494049019048_7
	- Select -	- Select -
Total needed	fill in the blank e9b494049019048_11	fill in the blank e9b494049019048_12
	- Select -	- Select -
Direct materials purchases	fill in the blank e9b494049019048_16	fill in the blank e9b494049019048_17

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	Practice Balls	Match Balls
	Units	Selling Price	Units	Selling Price
January	46,000	$8.50	6,700	$17.50
February	55,000	$8.50	8,300	$17.50
March	86,000	$8.50	13,500	$17.50
April	115,000	$8.50	16,500	$17.50