Problem 1 Protego Maxima Company manufactures Bagoong. The company was able to sell 20,000 units of this at the price of P50.00 during the year 2020. It is expected that the sales for this product will increase by 25% in the year 2021. The company plans to sell their Bagoong at P55.00 for this year. The inventory data of Protego Maxima in December 31, 2020 was 3,200 units and the business expect that by December 2021, their inventory will be 2,000 units. The Raw Materials used in producing the product are 2 units of Material M and 5 units of Material N. One unit of Material M costs P5.00 while one unit of Material N costs P3.00. The direct laborers are paid P50 per unit that they produce. The estimated overhead of the company are as follows: Variable Cost Fixed Cost Indirect Materials P 7/unit Salary of Manager P 150,000 Light and Water 5/unit Taxes 50,000 Other variable cost 15/unit Other fixed cost 100,000 Requirement: Prepare the Sales Budget and Production Budget for 2021. Correct budget amounts, and supporting computations

Problem 1 Protego Maxima Company manufactures Bagoong. The company was able to sell 20,000 units of this at the price of P50.00 during the year 2020. It is expected that the sales for this product will increase by 25% in the year 2021. The company plans to sell their Bagoong at P55.00 for this year. The inventory data of Protego Maxima in December 31, 2020 was 3,200 units and the business expect that by December 2021, their inventory will be 2,000 units. The Raw Materials used in producing the product are 2 units of Material M and 5 units of Material N. One unit of Material M costs P5.00 while one unit of Material N costs P3.00. The direct laborers are paid P50 per unit that they produce. The estimated overhead of the company are as follows: Variable Cost Fixed Cost Indirect Materials P 7/unit Salary of Manager P 150,000 Light and Water 5/unit Taxes 50,000 Other variable cost 15/unit Other fixed cost 100,000 Requirement: Prepare the Sales Budget and Production Budget for 2021. Correct budget amounts, and supporting computations

Name: Problem 1Protego Maxima Company manufactures Bagoong. The company was
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Description: Problem 1Protego Maxima Company manufactures Bagoong. The company was able tosell 20,000 units of this at the price of P50.00 during the year 2020. It is expected thatthe sales for this product will increase by 25% in the year 2021. The company plan

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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A8