luction and Purchases Budgets in t the end of business on June 30, 2009, the Wooly Rug Company had 100,000 square yards of rugs and 200,000 pounds of raw materials on hand. Budgeted sales for the third quarter of 2009 are: Month Sales uly 210,000 sq.yards August 170,000 sq.yards September 170.000 sq.yards October 170.000 sq.yards he Wooly Rug Company wants to have sufficient square yards of finished product on hand at the end of each month to meet 40 percent of the following month's budgeted sales and sufficient pounds of raw materials to meet 30 percent of the following m roduction requirements. Five pounds of raw materials are required o produce one square yard of carpeting. repare a production budget for the months of July, August, and September and a purchases budget in units for the months of July and August. Wooly Rug Company Production Budget For the Months of July, August, & September, 2009 July Budgeted production - sq.yards Wooly Rug Company Burchases Budent August September

luction and Purchases Budgets in t the end of business on June 30, 2009, the Wooly Rug Company had 100,000 square yards of rugs and 200,000 pounds of raw materials on hand. Budgeted sales for the third quarter of 2009 are: Month Sales uly 210,000 sq.yards August 170,000 sq.yards September 170.000 sq.yards October 170.000 sq.yards he Wooly Rug Company wants to have sufficient square yards of finished product on hand at the end of each month to meet 40 percent of the following month's budgeted sales and sufficient pounds of raw materials to meet 30 percent of the following m roduction requirements. Five pounds of raw materials are required o produce one square yard of carpeting. repare a production budget for the months of July, August, and September and a purchases budget in units for the months of July and August. Wooly Rug Company Production Budget For the Months of July, August, & September, 2009 July Budgeted production - sq.yards Wooly Rug Company Burchases Budent August September

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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Production and Purchases Budgets Drainage Solutions Culverts produces small culverts for water drainage under two-lane dirt roads. Budgeted unit sales for the next several months are: Month Sales September 2,100 October 1,600 November 900 December 600 At the beginning of September, 525 units of finished goods were in inventory. During the final third of the year, as road construction declines, plans are to have an inventory of finished goods equal to 25 percent of the following month's sales. Each unit of finished goods requires 600 pounds of raw materials at a cost of $5 per pound. Management wishes to maintain month-end inventories of raw materials equal to 50 percent of the following month's needs. Five hundred thousand pounds of raw materials were on hand at the start of September. Required a. Prepare a production budget for September, October, and November. Do not use a negative sign with your answers. Drainage Solutions Culverts Production Budget For the Months of September,…
Production Budget Pasadena Candle Inc. projected sales of 42,000 candles for the year. The estimated January 1 inventory is 2,100 units, and the desired December 31 inventory is 5,000 units. Prepare a production budget report in units for Pasadena Candle Inc. For those boxes in which you must enter subtracted or negative numbers use a minus sign.
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Quarter 1 Quarter 2 Quarter 3 Quarter 4 Total Units to be produced 7,680 8,480 8,860 8,860 33,880 Direct material per unit 2 2 2 2 2 Total pounds needed for production 15,360 16,960 17,720 17,720 67,760 Add: Desired ending inventory 4,240 4,430 4,430 3,600 3,600 Total material required 19,600 21,390 22,150 21,320 71,360 Less: Beginning inventory 4,240 4,430 4,430 Pounds of direct material purchase requirements 19,600 17,150 17,720 16,890 71,360 Cost per pound $1.50 $1.50 $1.50 $1.50 $1.50 Total cost of direct material purchase $29,400 $25,725 $26,580 $25,335 $107,040 Total $107,040 Direct Labor Budget For the Year Ending Dec. 31, 2018 Quarter 1 Quarter 2 Quarter 3 Quarter 4 Total Units to be produced 7,680 8,480 8,860 Direct labor hours per unit 0.75 0.75 0.75 0.75 0.75 Total required direct labor hours 5,760 6,360 6,645 6,645 Labor cost per hour $25 $25 $25 $25 $25 Total direct labor cost $144,000 $159,000 $166,125 $ $635,250
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Production Budget Pasadena Candle Inc. projected sales of 47,000 candles for January. The estimated January 1 inventory is 3,300 units, and the desired January 31 inventory is 5,000 units. Prepare a production budget report in units for Pasadena Candle Inc. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Pasadena Candle Inc. Production Budget For the Month Ending January 31 Total units available ✩ = 0 Total units to be produced in January All work saved. Previous Next >
Saved La Campany produces hand toos Budgeted sales for March are 10,700 units. Beginning finished goods inventory in March is budgeted to be 2,300 nd endrg frished goods Inventory is budgeted to be 2,000 units. How many units will be produced in March? L Doice .00 S00 30
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