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< Direct Materials Purchases Budget FlashKick Company manufactures and sells soccer balls for teams of children in elementary and high school. Flash Kick'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 50,000 $8.75 7,000 $16.00 February 58,000 $8.75 7,500 $16.00 March 80,000 $8.75 April 100,000 $8.75 13,000 18,000 $16.00 $16.00 Every practice ball requires 0.7 square yard of polyvinyl chloride panels, one bladder with valve (to fill with air), and 3 ounces of glue. Flash Kick'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: Flash Kick Company Direct Materials Purchases Budget - Polyvinyl Chloride Panels For January and February Polyvinyl chloride panels: Units produced January 50,000 X February 58,000 X Direct materials per unit 0.70 ✔ 0.70 ✔ Direct materials for production 35,000 X 40,600 X Desired ending inventory 8,120 X 11,200 X Total needed 43,120 X 51,800 X Less: Beginning inventory 7,000 X 8,120 X Direct materials purchases 36,120 X 43,680 X

< Direct Materials Purchases Budget FlashKick Company manufactures and sells soccer balls for teams of children in elementary and high school. Flash Kick'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 50,000 $8.75 7,000 $16.00 February 58,000 $8.75 7,500 $16.00 March 80,000 $8.75 April 100,000 $8.75 13,000 18,000 $16.00 $16.00 Every practice ball requires 0.7 square yard of polyvinyl chloride panels, one bladder with valve (to fill with air), and 3 ounces of glue. Flash Kick'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: Flash Kick Company Direct Materials Purchases Budget - Polyvinyl Chloride Panels For January and February Polyvinyl chloride panels: Units produced January 50,000 X February 58,000 X Direct materials per unit 0.70 ✔ 0.70 ✔ Direct materials for production 35,000 X 40,600 X Desired ending inventory 8,120 X 11,200 X Total needed 43,120 X 51,800 X Less: Beginning inventory 7,000 X 8,120 X Direct materials purchases 36,120 X 43,680 X

FINANCIAL ACCOUNTING
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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< Direct Materials Purchases Budget FlashKick Company manufactures and sells soccer balls for teams of children in elementary and high school. Flash Kick'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 50,000 $8.75 7,000 $16.00 February 58,000 $8.75 7,500 $16.00 March 80,000 $8.75 April 100,000 $8.75 13,000 18,000 $16.00 $16.00 Every practice ball requires 0.7 square yard of polyvinyl chloride panels, one bladder with valve (to fill with air), and 3 ounces of glue. Flash Kick'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: Flash Kick Company Direct Materials Purchases Budget - Polyvinyl Chloride Panels For January and February Polyvinyl chloride panels: Units produced January 50,000 X February 58,000 X Direct materials per unit 0.70 ✔ 0.70 ✔ Direct materials for production 35,000 X 40,600 X Desired ending inventory 8,120 X 11,200 X Total needed 43,120 X 51,800 X Less: Beginning inventory 7,000 X 8,120 X Direct materials purchases 36,120 X 43,680 X
Transcribed Image Text:< Direct Materials Purchases Budget FlashKick Company manufactures and sells soccer balls for teams of children in elementary and high school. Flash Kick'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 50,000 $8.75 7,000 $16.00 February 58,000 $8.75 7,500 $16.00 March 80,000 $8.75 April 100,000 $8.75 13,000 18,000 $16.00 $16.00 Every practice ball requires 0.7 square yard of polyvinyl chloride panels, one bladder with valve (to fill with air), and 3 ounces of glue. Flash Kick'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: Flash Kick Company Direct Materials Purchases Budget - Polyvinyl Chloride Panels For January and February Polyvinyl chloride panels: Units produced January 50,000 X February 58,000 X Direct materials per unit 0.70 ✔ 0.70 ✔ Direct materials for production 35,000 X 40,600 X Desired ending inventory 8,120 X 11,200 X Total needed 43,120 X 51,800 X Less: Beginning inventory 7,000 X 8,120 X Direct materials purchases 36,120 X 43,680 X
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