Glacier Trails manufactures backpacks for adventurers. The backpacks come in two types: Daytripper, and Excursion. Glacier anticipates the following sales volumes for the coming peric Daytripper: 2,400 backpacks Excursion: 1,440 backpacks total budgeted revenue for the period is $300,000 and the sales price for Daytripper backpacks is $62, what is the budgeted sales price for Excursion backpacks? elect one: O. a. $105 O b. $146 D D D c. $78 d. $156 e. None of these options are correct.
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- Olivet Devices sells two models of fitness devices. The budgeted price per unit for the wireless model is $47 and the budgeted price per unit for the wireless and cellular model is $92. The master budget called for sales of 47,200 wireless models and 11,800 wireless and cellular models during the current year. Actual results showed sales of 35,500 wireless models, with a price of $44 per unit, and 14,700 wireless and cellular models, with a price of $89 per unit. The standard variable cost per unit is $34 for a wireless model and $69 for a wireless and cellular model. Required: a. Compute the sales activity variance for these data. b. Break down the sales activity variance into mix and quantity parts.Fisher-Price manufactures two products, Bassinet and Swing, which use raw materials, pins and clips. One bassinet uses 4 units of pins and 3 units of clips. One swing uses 2 units of pins and 6 units of clips. One pin is expected to cost $7 and one clip is expected to cost $5. Sales and finished goods inventory budget for the year 2020 are as follows: Bassinets Swings Budgeted sales 5,000 units Budgeted sales 7.000 units Opening inventory 1,000 units Opening inventory 2,000 units Closing inventory 600 units Closing inventory 800 units Selling price $400 Selling price $300 Raw material inventory budget for the year 2020 are as follows: Pins Clips Opening inventory 2,400 units Opening inventory 3,300 units Closing inventory 500 units Closing inventory 600 units The warehouse and stores managers have suggested that a provision should be made for damages and deterioration of items held in store, as…Soft and Silky, Inc., manufactures bedding sets. The budgeted production is for 53,000 comforters in the coming year. Each comforter requires 6 yards of material. The estimated January 1 beginning inventory is 31,000 yards. The desired ending balance is 30,000 yards of material. If the material costs $1.50 per yard, what is the materials budget for the coming year? a.$385,500 b.$478,500 c.$475,500 d.$477,000
- Red Canyon T-shirt Company operates a chain of T-shirt shops in the southwestern United States. The sales manager has provided a sales forecast for the coming year, along with the following information: Quarter 1 Quarter 2 Quarter 3 Quarter 4 Budgeted unit sales 34,000 54,000 27,000 54,000 Each T-shirt is expected to sell for $18. The purchasing manager buys the T-shirts for $7 each. The company needs to have enough T-shirts on hand at the end of each quarter to fill 28 percent of the next quarter’s sales demand. Selling and administrative expenses are budgeted at $68,000 per quarter plus 14 percent of total sales revenue. Required:. Determine budgeted cost of merchandise purchased for quarters 1, 2, and 3.. Determine budgeted cost of good sold for quarters 1, 2, and 3.. Determine selling and administrative expenses for quarters 1, 2, and 3.. Complete the budgeted income statement for quarters 1, 2, and 3.Oriole Farm Supply Company manufactures and sells a pesticide called Snare. The following data are available for preparing budgets for Snare for the first 2 quarters of 2020. 1. Sales: quarter 1, 28,400 bags; quarter 2, 44,000 bags. Selling price is $62 per bag. 2. Direct materials: each bag of Snare requires 4 pounds of Gumm at a cost of $3.80 per pound and 6 pounds of Tarr at $1.50 per pound. 3. Desired inventory levels: Type of Inventory January 1 April 1 July 1 Snare (bags) 8,100 12,500 18,300 Gumm (pounds) 9,100 10,400 13,100 Tarr (pounds) 14,300 20,200 25,400 4. Direct labor: direct labor time is 15 minutes per bag at an hourly rate of $16 per hour. 5. Selling and administrative expenses are expected to be 15% of sales plus $180,000 per quarter. 6. Interest expense is $100,000. 7. Income taxes are expected to be 30% of income before income taxes. Your assistant has prepared two budgets: (1)…Scholar Suppliers manufactures backpacks for students. The backpacks come in two sizes: Small, and Large. Scholar Suppliers anticipates the following sales volumes and prices for the coming period: Size Sales Volume Selling Price Small 3,000 backpacks $25 each Large 6,000 backpacks $75 each What is the budgeted level of revenue for the coming period?
- Red Canyon T-shirt Company operates a chain of T-shirt shops in the southwestern United States. The sales manager has provided a sales forecast for the coming year, along with the following information: ● Quarter 1 Quarter 2 Quarter 3 Quarter 4 38,000 58,000 29,000 58,000 Budgeted unit sales Each T-shirt is expected to sell for $13. The purchasing manager buys the T-shirts for $5 each. The company needs to have enough T-shirts on hand at the end of each quarter to fill 23 percent of the next quarter's sales demand. Selling and administrative expenses are budgeted at $76,000 per quarter plus 18 percent of total sales revenue. Required: 1. Determine budgeted sales revenue for each quarter. 2. Determine budgeted cost of merchandise purchased for each quarter. 3. Determine budgeted cost of good sold for each quarter. 4. Determine selling and administrative expense for each quarter. 5. Complete the budgeted income statement for each quarter.Kaja Kallas produces luxury collection of dolls. She is preparing her budget for the coming year. The budgeted selling price for each doll is $30 and the budgeted materials cost for each doll is 50% of selling price while the budgeted labour cost is 20% of selling price. Each doll is expected to incur direct expenses of $1 on top of the budgeted materials and labour costs. Equipment depreciation is budgeted to be $9,000 per annum and Ms. Kallas budgeted administration expenses are $1,200 per month. Demand in September is budgeted to be 10,000 dolls with demand rising to 10,500 dolls in October and 11,025 in November. What is Ms. Kallas budgeted gross profit for November? $86,250 $87,450 $88,200 $99,225The flexible budgeting for the Naurution company assumes that the first year of operation will serve either 20%, 40% and 60% of the entire 10,851 population of the Republic of Nauru and that the selling price per one meal is $22. Amelia and Kevin are expected to sell 5 meals per week during the 52 weeks per year. Additional details of the flexible budgeting show that the direct labor costs are $2 per unit, direct materials costs $4 per unit, variable overhead costs are $1 for 20%, $ 0.50 for 40% and $0.25 for 60% expected sales, fixed overhead costs are $1,745,984, and general, selling and administrative expenses are estimated to be $25,000. Income taxes are expected to be 21%. According to the completed flexible budgeting, net income for the 40% levels of sales is: a) 5,287,309 b) 9,567,354 c) 4,934,345 d) 7,435,345
- Use the information below for Mandy Corporation to answer the question that follow. Mandy Corporation sells a single product. Budgeted sales for the year are anticipated to be 643,000 units, estimated beginning inventory is 105,000 units, and desired ending inventory is 84,000 units. The quantities of direct materials expected to be used for each unit of finished product are given below.Material A: 0.50 lb. per unit @ $0.61 per poundMaterial B: 1.00 lb. per unit @ $2.37 per poundMaterial C: 1.20 lb. per unit @ $0.86 per poundThe dollar amount of Material C used in production during the year is a.$577,714 b.$770,285 c.$706,094 d.$641,904Red Canyon T-shirt Company operates a chain of T-shirt shops in the southwestern United States. The sales manager has provided a sales forecast for the coming year, along with the following information: Quarter 1 Quarter 2 Quarter 3 Quarter 4 Budgeted unit sales 40,000 60,000 30,000 60,000 Each T-shirt is expected to sell for $15. The purchasing manager buys the T-shirts for $6 each. The company needs to have enough T-shirts on hand at the end of each quarter to fill 25 percent of the next quarter’s sales demand. Selling and administrative expenses are budgeted at $80,000 per quarter plus 10 percent of total sales revenue. Required: Determine budgeted sales revenue for each quarter. Determine budgeted cost of merchandise purchased for each quarter. Determine budgeted cost of good sold for each quarter. Determine selling and administrative expense for each quarter. Complete the budgeted income statement for each quarter.Vibrant Inc. manufactures two models of speakers, Rumble and Thunder. Based on the following production and sales data for June, prepare (a) a sales budget and (b) a production budget: Rumble Thunder Estimated inventory (units), June 1 258 70 Desired inventory (units), June 30 296 61 Expected sales volume (units): North Region 3,250 3,650 South Region 5,200 4,500 Unit sales price $95 $185 a. Prepare a sales budget. Vibrant Inc. Sales Budget For the Month Ending June 30 Unit Unit Total Sales Selling Sales Volume Price Product and Area Model Rumble: North Region South Region Total Model Thunder: North Region South Region Total Total revenue from sales b. Prepare a production budget. Vibrant Inc. Production Budget For the Month Ending June 30 Units Units Model Model Rumble Thunder Expected units to be sold Total units required Total units to be produced