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Accounting
NUBD Co. has the following budget estimates for its second year of operations: Projected sales – P3,500,000 Projected net income before tax – 12% of sales Estimated selling and administrative expenses – 25% of sales Direct labor and factory overhead are budgeted at 70% of the total manufacturing cost. Inventories are estimated as follows: Raw materials P220,000 270,000 Goods in process P250,000 300,000 Finished goods P350,000 420,000 Beginning Ending

NUBD Co. has the following budget estimates for its second year of operations: Projected sales – P3,500,000 Projected net income before tax – 12% of sales Estimated selling and administrative expenses – 25% of sales Direct labor and factory overhead are budgeted at 70% of the total manufacturing cost. Inventories are estimated as follows: Raw materials P220,000 270,000 Goods in process P250,000 300,000 Finished goods P350,000 420,000 Beginning Ending

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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Natio The estimated purchases of raw materials would be Format: 111,111 NUBD Co. has the following budget estimates for its second year of operations: Projected sales – P3,500,000 Projected net income before tax – 12% of sales Estimated selling and administrative expenses– 25% of sales Direct labor and factory overhead are budgeted at 70% of the total manufacturing cost. Inventories are estimated as follows: Raw materials P220,000 270,000 Goods in process P250,000 300,000 Finished goods P350,000 420,000 Beginning Ending
Transcribed Image Text:Natio The estimated purchases of raw materials would be Format: 111,111 NUBD Co. has the following budget estimates for its second year of operations: Projected sales – P3,500,000 Projected net income before tax – 12% of sales Estimated selling and administrative expenses– 25% of sales Direct labor and factory overhead are budgeted at 70% of the total manufacturing cost. Inventories are estimated as follows: Raw materials P220,000 270,000 Goods in process P250,000 300,000 Finished goods P350,000 420,000 Beginning Ending
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