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.
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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Concept explainers
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
Question
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Desired inventory, November 30
Price per pound
Units required for production:
12" pizza
16" pizza
Total units available
Total units to be purchased
Unit Price
2,000 lbs. 1,200 lbs.
$0.60
$0.50
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.
Total direct materials to be purchased
2,800 lbs.
$0.85
Tobin's Frozen Pizza Inc.
Direct Materials Purchases Budget
For the Month Ending November 30
Direct Materials
Dough
Direct Materials
Tomato
Direct Materials
Cheese
@
Total
99 g
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A
Show Me How
Direct materials:
12" Pizza
0.55 lb. per unit
0.25
0.70
Units
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:
12" Pizza
Estimated inventory, November 1
Desired inventory, November 30
Price per pound
16" Pizza
+
CengageNOWv2 | Assignment | FX
0.80 lb. per unit
0.40
1.20
9
16" Pizza
Budgeted production volume
70,000
50,000
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:
Dough
Tomato
Cheese
In addition, Tobin's has determined the following information about each material:
Cheese
Tomato
1,000 lbs.
1,200 lbs.
$0.60
Dough
2,500 lbs.
2,000 lbs..
$0.50
>
W
3,000 lbs.
2,800 lbs.
$0.85
[6]
99
Bo
Prepare November's direct materials purchases budget for Tobin's Frozen Pizza Inc. For those boxes in which you must enter subtracted or negative](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Faa28b18f-3e2d-4592-9d09-7b963ee49630%2F07e7f260-da2b-498d-b9d5-f3ab9e82acbe%2F8ophdlm_processed.jpeg&w=3840&q=75)
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CengageNOWv2 | Assignment | FX
A
Show Me How
Direct materials:
12" Pizza
0.55 lb. per unit
0.25
0.70
Units
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:
12" Pizza
Estimated inventory, November 1
Desired inventory, November 30
Price per pound
16" Pizza
+
CengageNOWv2 | Assignment | FX
0.80 lb. per unit
0.40
1.20
9
16" Pizza
Budgeted production volume
70,000
50,000
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:
Dough
Tomato
Cheese
In addition, Tobin's has determined the following information about each material:
Cheese
Tomato
1,000 lbs.
1,200 lbs.
$0.60
Dough
2,500 lbs.
2,000 lbs..
$0.50
>
W
3,000 lbs.
2,800 lbs.
$0.85
[6]
99
Bo
Prepare November's direct materials purchases budget for Tobin's Frozen Pizza Inc. For those boxes in which you must enter subtracted or negative
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