Lily Company estimates that unit sales will be 11,000 in quarter 1, 15,400 in quarter 2, 16,500 in quarter 3, and 19,800 in quarter 4.The unit selling price is $70. Management desires to have an ending finished goods inventory equal to 25% of the next quarter'sexpected unit sales.Prepare a production budget by quarters for the first 6 months of 2027.LILY COMPANYProduction BudgetQuarter12Six Months

Establish the target final inventory for every quarter:25% of Q2 sales times Q1 closing inventory…

Answered: Lily Company estimates that unit sales…

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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Prepare a direct labor budget for each of the upcoming five years. Labor per unit = 8
Prepare a direct labor budget for each of the upcoming five years. Cost labor per unit = $8 Total direct labor hours needed for a period = Number of units to be produced in that period * Direct labors hours needed per unit Total direct labor costs needed to meet production =Total direct labor hours needed for that period * Direct labor cost per hour
Down Under Products' sales budget for the next four months is as follows: Unit Sales April May June July 78,000 85,000 118,000 94,000 The company wants its ending inventory levels to equal 20% of the following month's unit sales. The inventory at the end of March was 15,600 units. Required: Prepare a production budget, by month and in total, for the second quarter. Budgeted unit sales Total needs Required production in units Down Under Products, Limited Production Budget April May June Quarter 0 0 0 0 0 0 0 0
Sheffield Company is preparing its direct labor budget for 2022 from the following production budget based on a calendar year: Quarter 1 2 3 4 Units 57,000 27,000 49,000 75.000 Each unit requires 2 hours of direct labor. The union contract provides for a 10% increase in wage rate to $22 per hour on October 1. Prepare a direct labor budget for 2022. $ First Quarter $ SHEFFIELD COMPANY Direct Labor Budget Second Quarter $ Third Quarter $ Fourth Quarter $ Total
Copr Goedl 2022 Sheba Industries reported the following budgeted sales in units for the first quarter of the fiscal year. Month Units June 3,300 July 2,960 3,120 August The desired ending finished goods inventory should be 10% of the next month's sales in units. The inventory on May 31 contained 330 units, which is the beginning inventory for June. The manager is preparing the production budget. The total number of units to be produced in July is: 2,976 units 3,272 units 3,266 units O3,596 units
Down Under Products' sales budget for the next four months is as follows: Unit Sales April May June July 50,000 75,000 90,000 80,000 The company wants its ending inventory levels to equal 10% of the following month's unit sales. The inventory at the end of March was 5,000 units. Required: Prepare a production budget, by month and in total, for the second quarter. Budgeted unit sales Total needs Required production in units Down Under Products, Limited Production Budget April May June Quarter
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Current Attempt in Progress Monty Company combines its operating expenses for budget purposes in a selling and administrative expense budget For the first quarter of 2022, the following data are developed L Sales: 21,500 units unit selling price 2 Variable costs per sales dollar Sales commissions Delivery expense 3 Advertising Fixed costs per quarter Sales salaries Office salaries Depreciation Insurance Utilities $30 Save for Later 6% 4% $24,400 19,500 5,000 2,100 1,000 Prepare a selling and administrative expense budget for the first quarter of 2022 (List variable costs before fixed costs) MONTYCOMPANY Selling and Administrative Expense Budget
XYZ Inc. is preparing its annual budgets for the year ending December 31, 2025. Product JB 50 Product JB 60 Sales Budget: Anticipated volume in units 677,000 345,000 Unit Selling Price $23 $45 Production budget: Desired ending finished goods units 65,000 21,500 Beginning finished good units 54.300 10,750 Prepare the Production Budget for the year.
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Prepare a sales budget for 2 quarters Exercise 1 Trusler Electronics Inc. produces and sells two models of pocket calculators, XQ-103 and XQ-104. The sell for calculators $14.00 and $26.00 Trespectively. Because of the intense competition Trusler faces, management budgets sales semiannually. Its projections for the first 2 quarters of 2022 are as follows. Unit Sales Quarter 2 26,000 Product Quarter 1 ХО-103 21,000 ХО-104 13,000 16,000 No changes in selling prices are anticipated. Instructions: Prepare a sales budget for the 2 quarters ending June 30, 2022 using the below budget table. List the products and show for each quarter and for the 6 months, units, selling price, and total sales by product and in total. TRUSLER ELECTRONICS INC. Sales Budget For the Six Months Ending June 30, 2020 Quarter 1 Quarter 2 Six Months Product Selling Units Selling Price Total Sales Units Selling Price Total Sales Units Total Sales Price ХО-103 ХО-104 Totals
on 4 obinson Corp., which operates on a calendar year, expects to sell 1380 units in October, and expects sales to increase 130 units each month thereafter. Sales price expected to stay constant at $7 per unit. What are budgeted sales revenue for the fourth quarter? << < Question 4 of 5

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