Lock Tight, Inc., produces outside doors for installation on homes. The following information was gathered to prepare budgets for theupcoming year beginning January 1.6,500 doors720 doors680 doors40,000 pounds80,000 pounds6,000 square feet4,000 square feet4 per poundSales forecast in unitsFinished goods inventory, January 1Target finished goods inventory, December 31Raw materials inventory-steel, January 1Target inventory-steel, December 31Raw materials inventory-glass, January 1Target inventory-glass, December 31Budgeted purchase price-steelBudgeted purchase price-glass2 per square footThe manufacture of each door requires 20 pounds of steel and 6 square feet of glass.a. Prepare the production schedule in units for Lock Tight.b. Using the production schedule, develop the direct materials purchase budgets for steel and glass.Complete this question by entering your answers in the tabs below.Required ARequired BUsing the production schedule, develop the direct materials purchase budgets for steel and glass.SteelGlassDirect materials usedIbs.sq.ftTarget ending inventoryIbs.sq.ftDirect materials available for saleO Ibs.0 sq.ftsq.ft0 sq.ftLess: Beginning inventoryIbs.Raw materials to be purchased (units)O Ibs.Budgeted purchase price per unitBudgeted direct materials purchases2$$

Production Schedule For the ended of Six month Doors Sale forecast 6500 Add: Target…

Answered: Lock Tight, Inc., produces outside door…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

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Rosenthal Company manufactures bowling balls through two processes: Molding and Packaging. In the Molding Department, the urethane, rubber, plastics, and other materials are molded into bowling balls. In the Packaging Department, the balls are placed in cartons and sent to the finished goods warehouse. All materials are entered at the beginning of each process. Labor and manufacturing overhead are incurred uniformly throughout each process. Production and cost data for the Molding Department during June 2020 are presented below. Production Data June Beginning work in process units 0 Units started into production 22,000 Ending work in process units 2,000 Percent complete—ending inventory 40 % Cost Data Materials $ 198,000 Labor 53,600 Overhead 112,800 Total $ 364,400 (a) Prepare a schedule showing physical units of production. Physical units Units to be accounted for…
Teton Trails manufactures backpacks for adventurers. The backpacks come in two types: Daytripper, and Excursion. Teton anticipates the following sales volumes: Daytripper: 4,000 backpacks in July, 4,400 backpacks in August Excursion: 2,400 backpacks in July, 1,800 backpacks in August Teton's policy is to maintain ending inventories at 5% of what is expected for the next month. What is the budgeted level of production in July for both styles? Select one: a. 4,420 Daytripper backpacks and 1,770 Excursion backpacks b. 3,980 Daytripper backpacks and 2,430 Excursion backpacks c. 4,000 Daytripper backpacks and 2,400 Excursion backpacks ○ d. None of these options are correct. e. 4,020 Daytripper backpacks and 2,370 Excursion backpacks
1. Retailers plan to purchase certain items for the next five months. Retailer needs each month are given in the table below: Month JAN Unit 10 FEB MAR APR 30 20 30 MAY 20 Retailers place orders at the beginning of each month. At the beginning of January the retailer had no inventory of these items. Any remaining units at the end of a month will be used in the following month at a cost of IDR 20/unit. The cost of each order is IDR 300. The retailer can only order in lot sizes of 10, 20, or 30 units and the maximum quantity he can order each month is 60 units. Warehouse storage capacity is 40 units maximum, if there are more than 40 units left at the end of the month, the units are discarded at a cost of Rp.100 How many units should retailers order each month?
Total cost and number of units in the first seven months of 2020 are given below. According to this information, which of the following is the total cost in August if the company produces 470 units? Periods Total Cost No.of Units January 300 30,600 February 31,120 310 March 31,900 325 April 350 33,200 Мay 380 34,760 June 410 36,320 July 37,360 430 Select one: a. 41,550 O b. 48,000 c. 43,650 d. 39,440
Campbell Pointers Corporation expects to begin operations on January 1, year 1; it will operate as a specialty sales company that sells laser pointers over the Internet. Campbell expects sales in January year 1 to total $360,000 and to increase 10 percent per month in February and March. All sales are on account. Campbell expects to collect 66 percent of accounts receivable in the month of sale, 22 percent in the month following the sale, and 12 percent in the second month following the sale. Required a. Prepare a sales budget for the first quarter of year 1. b. Determine the amount of sales revenue Campbell will report on the year 1 first quarterly pro forma income statement. c. Prepare a cash receipts schedule for the first quarter of year 1. d. Determine the amount of accounts receivable as of March 31, year 1.
Muscat Manufacturing plans to sell 6,000 chairs during May, 5,700 in June, and 6,000 during July. The company keeps 15% of the next month's sales as ending inventory. How many units should Muscat produce during June?
Desiccate purchases direct materials each month. Its payment history shows that 70% is paid in the month of purchase with the remaining balance paid the month after purchase. Prepare a cash payment schedule for March if in January through March, it purchased $35,304, $36,973, and $39,905, respectively. Round to the nearest penny, two decimal places.
Forrest Company manufactures phone chargers and has a JIT policy that ending inventory should equal 10% of the next month’s estimated unit sales. It estimates that October’s actual ending inventory will consist of 40,000 units. November and December sales are estimated to be 400,000 and 350,000 units, respectively. Compute the number of units to be produced in November.
JKL & Company had 3,000 units in finished-goods inventory on December 31. The following data are available for the upcoming year: January February Units to be produced 9,400 10,200 Desired ending finished-goods inventory 2,500 2,100 The number of units the company expects to sell in January is:
Scare-2-B-U (S2BU) specializes in costumes for all occasions. The average price of each of its costumes is $340. For each occasion, S2BU receives a 10 percent deposit two months before the occasion, 50 percent the month before, and the remainder on the day the costume is delivered. Based on information at hand, managers at S2BU expect to make costumes for the following number of occasions during the coming months. April 60 May 30 June 20 July 45 August 50 September 125 Required: a. What are the expected revenues for S2BU for each month, April through September? Revenues are recorded in the month of the occasion. b. What are the expected cash receipts for each month, April through July?
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Lock Tight, Inc., produces outside door upcoming vear beginning January 1.