NUBD Co. is budgeting sales of 53,000 units of product Nous for October 2000. The manufacture of one unit of Nous requires 4 kilos of chemical Loire. During October 2021, NUBD plans to reduce the inventory of Loire by 50,000 kilos and increase the finished goods inventory of Nous by 5,000 units. There is no Nous work in process inventory. How many kilos of Loire is NUBD budgeting to purchase in October 2021?

NUBD Co. is budgeting sales of 53,000 units of product Nous for October 2000. The manufacture of one unit of Nous requires 4 kilos of chemical Loire. During October 2021, NUBD plans to reduce the inventory of Loire by 50,000 kilos and increase the finished goods inventory of Nous by 5,000 units. There is no Nous work in process inventory. How many kilos of Loire is NUBD budgeting to purchase in October 2021?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

In 2020, Top-Spin Racquet Company produced 64,000 tennis racquets and incurred total Direct Material costs of $2,240,000. Top-Spin expects materials costs to increase by 5% in 2021 and expects to produce 68,000 tennis racquets in 2021. What is Top-Spin's total budgeted Direct Materials cost for 2021? $2,380,000 $2,499,000 $2,352,000 $2,240,000
Shadee Corporation expects to sell 540 sun shades in May and 390 in June. Each shade sells for $147. Shadee's beginning and ending finished goods inventories for May are 60 and 40 shades, respectively. Ending finished goods Inventory for June will be 50 shades. ES-9 (Algo) Preparing Selling and Administrative Expense Budget [LO 8-3g] Each shade requires a total of $50.00 in direct materials that includes 4 adjustable poles that cost $10.00 each. Shadee expects to have 130 in direct materials inventory on May 1, 100 poles in inventory on May 31, and 110 poles in inventory on June 30. Suppose that each shade takes three direct labor hour to produce and Shadee pays its workers $14 per hour. Additionally, Shadee's fixed manufacturing overhead is $8,000 per month, and variable manufacturing overhead is $10 per unit produced. Additional information: Selling costs are expected to be 10 percent of sales. • Fixed administrative expenses per month total $1,300. Required: Prepare Shadee's selling…
Shalom Company measures its activity in terms of court reservations. Last month, the budgeted level of activity was 480 player-visits, and the actual level of activity was 440 player-visits. The company budgets for variable overhead costs of P3.30 per player-visit and fixed overhead costs of P10,600 per month. The actual variable overhead cost last month was P3,830 and the actual fixed overhead cost was P8,780. In your flexible budget performance report, identify the difference between budgeted and actual costs and indicate as favorable or unfavorable. Format should be: 8,000 F or 8,000 UF No need to indicate if the amount is positive or negative. total fixed manufacturing costs
8
Bowshar Hills Company sells shoes and expects to produce and sell 30,000 units during the year 2022 with no beginning or ending inventories as it plans to produce what it can sell during the same year. The total budgeted fixed manufacturing overhead cost for the year is $50,000. The company accounts show that the budgeted direct material cost is $4 per unit, budgeted direct labor cost is $6 per direct labor hour, and budgeted variable manufacturing overhead is $2 per direct labor hour. Each unit produced takes 2 hours of skilled labor time. The cost of goods sold reported in the budgeted income statement for 2022 is: O a. $650,000 O b. $450,000 Oc. None of the given answers O d. $1,050,000 O e. $850,000
Hills Company sells shoes and expects to produce and sell 50,000 units during the year 2022 with no beginning or ending inventories as it plans to produce what it can sell during the same year . The total budgeted fixed manufacturing overhead cost for the year is $50,000 . The company accounts show that the budgeted direct material cost is $ 4 per unit , budgeted direct labor cost is $ 6 per direct labor hour , and budgeted variable manufacturing overhead is $2 per direct labor hour . Each unit produced takes 2 hours of skilled labor time . The cost of goods sold reported in the budgeted income statement for 2022 is : a. None of the given answers b. $450,000 c . $650,000 d. $1,050,000 e. $850,000
A company requires 190 pounds of plastic to meet the production needs of a product. It currently has 30 pounds of plastic inventory. The desired ending inventory of plastic is 60 pounds. How many pounds of plastic should be budgeted for purchasing during the coming period?
Shalom Company plans to produce 50,000 units of Peace Products in 2023. Budgeted variable manufacturing costs per unit are direct materials P7, direct labor P12, and overhead P18. Annual budgeted fixed manufacturing overhead costs are P96,000 for depreciation and P45,000 for supervision. In February, Shalom produced 6,000 units and incurred the following costs: direct materials P38,900, direct labor P70,200, variable overhead P116,500, depreciation P8,000, and supervision P4,000. what is the Total fixed manufacturing overhead? what is the Direct materials: what is the Total manufacturing costs
The Yucatan Co. in Mexico has a division that manufactures bicycles. Its budgeted sales for Model XG in 2018 are 95,000 units. Yucatan’s target ending inventory is 7,000 units, and its beginning inventory is 11,000 units. The company’s budgeted selling price to its distributors and dealers is 3,500 pesos per bicycle. Yucatan buys all its wheels from an outside supplier. No defective wheels are accepted. Yucatan’s needs for extra wheels for replacement parts are ordered by a separate division of the company. The company’s target ending inventory is 14,000 wheels, and its beginning inventory is 16,000 wheels. The budgeted purchase price is 400 pesos per wheel. Q. What actions can Yucatan’s managers take to reduce budgeted purchasing costs of wheels assuming the same budgeted sales for Model XG?
Connolly Enterprises manufactures tires for the Formula I motor racing circuit. For August 2020, it budgeted to manufacture and sell 3,100 tires at a variable cost of $80 per tire and total fixed costs of $52,000. The budgeted selling price was $110 per tire. Actual results in August 2020 were 2,900 tires manufactured and sold at a selling price of $114 per tire. The actual total variable costs were $255,200, and the actual total fixed costs were $48,000. Read the requirements Requirement 1. Prepare a performance report with a flexible budget and a static budget. Begin with the actual results, then complete the flexible budget columns and the static budget columns. Label each variance as favorable or unfavorable. (For variances with a $0 balance, make sure to enter "0" in the appropriate field. If the variance is zero, do not select a label.) Units sold Revenues Variable costs Contribution margin Fixed costs Operating income Actual Results
Howard Temple, Inc., expects to sell 20,000 pool cues for $12.00 each. Direct materials costs are $2.00, direct manufacturing labor is $4.00, and manufacturing overhead is $0.80 per pool cue. The following inventory levels apply to 2020: Beginning Inventory Ending Inventory Direct materials 24,000 units 24,000 units Work-in-Process Inventory 0 units O units Finished Goods Inventory 2,000 units 2,500 units On the 2020 budgeted income statement, what amount will be reported for cost of goods sold?
National Quality Paint Inc. (NQPI) produces paints in Geelong, Victoria. The accountant has presented you the following budgeted data for the fourth quarter of 2021. Sales are forecasted to be 60,000 cans at a price of $40 per can. The budgeted beginning and ending finished goods inventories are 4,000 and 9,000 units respectively. It is estimated that each can of paint requires two kilograms of input at a budgeted price of $5 per kg. The beginning raw materials inventory is estimated as 3,000 kilograms. NQPI wants to keep ending raw materials inventory of 4,200 due to fluctuations in demand. Production of each can is estimated to take 2 hours of labour at a standard pay rate of $18 per hour. equired: (please show all steps of your computation in proper format) Prepare a direct material purchases budget for the fourth quarter of 2021. Prepare a direct labour budget for the fourth quarter of 2021.