obin's Frozen Pizza Inc. has determined from its production budget the following estimated production volumes for 12" and 16" frozen pizzas for November: Units 12" Pizza 16" Pizza Budgeted production volume 73,000 53,000 here are three direct materials used in producing the two types of pizza. The quantities of direct materials expected to be used for each pizza are as follows: 12" Pizza 16" Pizza Direct materials: Dough 0.55 Ib. per unit 0.80 Ibs. per unit Tomato 0.25 0.40 Cheese 0.70 1.20 n addition, Tobin's has determined the following information about each material: Dough Tomato Cheese Estimated inventory, November 1 2,500 Ibs. 1,100 Ibs. 3,000 Ibs. Desired inventory, November 30 2,000 Ibs. 1,300 Ibs. 2,600 Ibs. Price per pound $0.30 $0.40 $0.65 his information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Tobin’s Frozen Pizza Inc. has determined from its production budget the following estimated production volumes for 12'' and 16'' frozen pizzas for November:

  Units
  12" Pizza 16" Pizza
Budgeted production volume 73,000   53,000  

There are three direct materials used in producing the two types of pizza. The quantities of direct materials expected to be used for each pizza are as follows:

  12" Pizza 16" Pizza
Direct materials:
  Dough 0.55 lb. per unit 0.80 lbs. per unit
  Tomato 0.25   0.40  
  Cheese 0.70   1.20  

In addition, Tobin’s has determined the following information about each material:

  Dough Tomato Cheese
Estimated inventory, November 1 2,500 lbs. 1,100 lbs. 3,000 lbs.
Desired inventory, November 30 2,000 lbs. 1,300 lbs. 2,600 lbs.
Price per pound $0.30   $0.40   $0.65  

Prepare November's direct materials purchases budget for Tobin’s Frozen Pizza Inc. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Round your final answers to the nearest dollar.

Direct materials purchases budget
Tobin's Frozen Pizza Inc. has determined from its production budget the following estimated production volumes for 12" and 16" frozen pizzas for November:
Units
12" Pizza
16" Pizza
Budgeted production volume
73,000
53,000
There are three direct materials used in producing the two types of pizza. The quantities of direct materials expected to be used for each pizza are as follows:
12" Pizza
16" Pizza
Direct materials:
Dough
0.55 Ib. per unit
0.80 Ibs. per unit
Tomato
0.25
0.40
Cheese
0.70
1.20
In addition, Tobin's has determined the following information about each material:
Dough
Tomato
Cheese
Estimated inventory, November 1
2,500 Ibs.
1,100 Ibs.
3,000 Ibs.
Desired inventory, November 30
2,000 Ibs.
1,300 Ibs.
2,600 Ibs.
Price per pound
$0.30
$0.40
$0.65
This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below
X
Open spreadsheet
Prepare November's direct materials purchases budget for Tobin's Frozen Pizza Inc. For those boxes in which you must enter subtracted or negative numbers use a minu
sign. Round your final answers to the nearest dollar.
Transcribed Image Text:Direct materials purchases budget Tobin's Frozen Pizza Inc. has determined from its production budget the following estimated production volumes for 12" and 16" frozen pizzas for November: Units 12" Pizza 16" Pizza Budgeted production volume 73,000 53,000 There are three direct materials used in producing the two types of pizza. The quantities of direct materials expected to be used for each pizza are as follows: 12" Pizza 16" Pizza Direct materials: Dough 0.55 Ib. per unit 0.80 Ibs. per unit Tomato 0.25 0.40 Cheese 0.70 1.20 In addition, Tobin's has determined the following information about each material: Dough Tomato Cheese Estimated inventory, November 1 2,500 Ibs. 1,100 Ibs. 3,000 Ibs. Desired inventory, November 30 2,000 Ibs. 1,300 Ibs. 2,600 Ibs. Price per pound $0.30 $0.40 $0.65 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below X Open spreadsheet Prepare November's direct materials purchases budget for Tobin's Frozen Pizza Inc. For those boxes in which you must enter subtracted or negative numbers use a minu sign. Round your final answers to the nearest dollar.
Desired inventory, November 30
2,000 Ibs.
1,300 Ibs.
2,600 Ibs.
Price per pound
$0.30
$0.40
$0.65
This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below.
Open spreadsheet
Prepare November's direct materials purchases budget for Tobin's Frozen Pizza Inc. For those boxes in which you must enter subtracted or negative numbers use a minus
sign. Round your final answers to the nearest dollar.
Tobin's Frozen Pizza Inc.
Direct Materials Purchases Budget
For the Month Ending November 30
Dough
Tomato
Cheese
Total
Units required for production:
12" pizza
16" pizza
Total units available
Total units to be purchased
Unit price
Total direct materials to be purchased
$
Transcribed Image Text:Desired inventory, November 30 2,000 Ibs. 1,300 Ibs. 2,600 Ibs. Price per pound $0.30 $0.40 $0.65 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. Open spreadsheet Prepare November's direct materials purchases budget for Tobin's Frozen Pizza Inc. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Round your final answers to the nearest dollar. Tobin's Frozen Pizza Inc. Direct Materials Purchases Budget For the Month Ending November 30 Dough Tomato Cheese Total Units required for production: 12" pizza 16" pizza Total units available Total units to be purchased Unit price Total direct materials to be purchased $
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