Mowers Inc. makes mowers for commercial landscapers. Their sales budget is shown below: Sep sales, units 10,000 Oct sales, units 34,000 Nov sales, units 40,000 Management want enough mowers on hand to meet 10% of next month's sales. Each mower requires 8 cutting blades. Management wants enough blades to meet 4% of next month's production needs. What is the material budget for blades for September (in units)? Enter as a whole number, no commas and no dollar signs. Answer:

Mowers Inc. makes mowers for commercial landscapers. Their sales budget is shown below: Sep sales, units 10,000 Oct sales, units 34,000 Nov sales, units 40,000 Management want enough mowers on hand to meet 10% of next month's sales. Each mower requires 8 cutting blades. Management wants enough blades to meet 4% of next month's production needs. What is the material budget for blades for September (in units)? Enter as a whole number, no commas and no dollar signs. Answer:

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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NuFloor Manufacturing produces floor tiles. The managers at NuFloor are trying to develop budgets for the upcoming quarter. The following data have been gathered for a particular tile design. Projected unit sales 3,600 cases Selling price per case $ 200 Inventory at the beginning of the quarter 600 cases Target inventory at the end of the quarter 800 cases Direct labor hours needed to produce one case 0.40 hours Direct labor wages $ 15 per hour Direct material cost per case $ 16 Variable manufacturing overhead cost per case $ 10 Fixed overhead costs for the upcoming quarter $ 319,200
Classic Loungers is in the process of preparing a production cost budget for August. Actual costs in July for 400 chaise lounge chairs were: Materials cost $ 6,000 Labor cost 8,000 Rent 2,000 Depreciation 4,000 Other fixed costs 5,000 Total $ 25,000 Material cost and Labor cost are considered variable. Each chair was sold for $160 in July. Management estimates that sales will increase to 440 chairs during August if the company lowers the selling price to $150 per chair. What is the incremental profit (loss) associated with the price reduction? $(200) $(2,200) $2,100 $800 $600
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Easy Farms Inc. makes tillers for small farms. Their sales budget is shown below: Sep sales, units 10,000 Oct sales, units 56,000 Nov sales, units 40,000 Management want enough tillers on hand to meet 10% of next month's sales. Each tiller requires 8 round blades. Management wants enough blades to meet 13% of next month's production needs. Each blade cost $4.50. What is the material budget for blades for September (in dollars)? Enter as a whole number, no commas and no dollar signs. Your Answer: Answer
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Light It Up, Inc. manufactures lamps. The production budget shows that Light It Up plans to produce 3,600 lamps in June and 2,800 lamps in July. Each lamp requires 0.50 direct labor hours in its production. Light It Up has a direct labor rate of $19 per direct labor hour. What is the total combined direct labor cost that Light It Up should budget for June and July? $60,800 $13,300 $30,400 $17,100
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Molander Corporation is a distributor of a sun umbrella used at resort hotels. Data concerning the next month's budget appear below: Selling price per unit Variable expense per unit Fixed expense per month Unit sales per month $ 28 $ 18 1. Margin of safety (in dollars) 2. Margin of safety percentage $ 9,000 1,050 Required: 1. What is the company's margin of safety? (Do not round intermediate calculations.) 2. What is the company's margin of safety as a percentage of its sales? (Round your percentage answer to 2 decimal places (i.e. 1234 should be entered as 12.34).) %
A company produces industrial rotors and provides the following additional information about steel, which is a direct material for the rotors: Pounds of steel needed per rotor Steel cost At the end of each month, the company wants to have 30% of the raw materials that will be needed for the next month on hand. Budgeted rotor production for the next two months is: November December 9 pounds $2.34/pound 10,000 rotors 8,000 rotors What will be the budgeted cost of steel purchases for November? (Round the final answer to the nearest dollars and cents and remember that your final answer should be a cost, not a number of pounds.)
Cameroon Corp. manufactures and sells electric staplers for $15 each. If 15,000 units were sold in December, and management forecasts 4% growth in sales each month, the number of units of electric stapler sales budgeted for February should be: Multiple Choice 15,000 16,873 15,600 16,224 16,500