Question 20/1View PoliciesCurrent Attempt in ProgressVaughn Manufacturing budgets on an annual basis for its fiscal year. The following beginning and ending inventory levelsare planned for the fiscal year of July 1, 2016 to June 30, 2017:portJune 30,2017June 30, 2016Raw Materials2000 kilos1000 kilosThree kilos of raw materials are needed to produce each unit of finished product. If Vaughn Manufacturing plans toproduce 580000 units during the 2016-2017 fiscal year, how many kilos of materials will the company need to purchasefor its production during the year?O 1741000O 1740000O 1739000O 17440008:54 PM11/27/2019hport scdeleteendpgNA44&56backspaceOnufockPhomeKenteresnedshitciIO

A Budget statement is a proper articulation of assessed income and costs dependent on tentative…

Answered: Question 20 /1 View Policies Current…

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

Please do not give solution in image format thanku
Question Content Area Operating Budget, Comprehensive Analysis Ponderosa, Inc., produces wiring harness assemblies used in the production of semi-trailer trucks. The wiring harness assemblies are sold to various truck manufacturers around the world. Projected sales in units for the coming five months are given below. January 10,000 February 10,600 March 13,500 April 16,000 May 18,500 The following data pertain to production policies and manufacturing specifications followed by Ponderosa: Finished goods inventory on January 1 is 900 units. The desired ending inventory for each month is 20 percent of the next month’s sales. The data on materials used are as follows: Direct Material Per-Unit Usage Unit Cost Part #K298 2 $4 Part #C30 3 7 Inventory policy dictates that sufficient materials be on hand at the beginning of the month to satisfy 30 percent of the next month’s production needs. This is exactly the amount of…
Question 1 TinyTom makes one product, which sells for $70 each, and prepares functional budgets on a monthly basis. For the first three months of 2021, the following figures are proposed: Sales January 10,000 units February 14,000 units March 12,000 units 10,000 April A closing stock of 10% of the next month's sales is required, the forecast sales for April is 10,000 units. The standard material cost of one unit of finished product is: Material X 4 units at $2 per unit Material Y 8 units at $3 per unit Material Z 2 unit at $5 per unit The standard direct labour cost of one unit of finished product is: 4 hours at $5 per hour Department A Department B Department C 4 hours at $5 per hour 2 hours at $4 per hour Material X Y Material Opening Stock Closing Stock 75,000 80,000 15,000 60,000 75,000 12,500 Required: 1) Calculate the standard prime cost of one unit of finished product. ii) Calculate the Sales Budget for each of months. iii) Calculate the Production Budget for each of months. iv)…
Don't provide answer in image format
Do not give answer in image
eBook Question Content Area Operating Budget, Comprehensive Analysis Ponderosa, Inc., produces wiring harness assemblies used in the production of semi-trailer trucks. The wiring harness assemblies are sold to various truck manufacturers around the world. Projected sales in units for the coming five months are given below. January 10,000 February 10,500 March 13,000 April 16,000 May 18,500 The following data pertain to production policies and manufacturing specifications followed by Ponderosa: Finished goods inventory on January 1 is 900 units. The desired ending inventory for each month is 20 percent of the next month’s sales. The data on materials used are as follows: Direct Material Per-Unit Usage Unit Cost Part #K298 2 $4 Part #C30 3 7 Inventory policy dictates that sufficient materials be on hand at the beginning of the month to satisfy 30 percent of the next month’s production needs. This is exactly the…
& EXIT Submit Questions #1 Down Under Products, Ltd., of Australia, has budgeted sales of its popular boomerang for the next four months as follows: Sales in Units 50,000 April May 75,000 June 90,000 July 80,000 The company is now in the process of preparing a production budget for the second quarter. Past experience has shown that end-of-month inventory levels must equal 10% of the following month's sales. The inventory at the end of March was 5,000 units. (Australia's currency is the Australian dollar.) Required: Prepare a production budget for the second quarter; in your budget, show the number of units to be produced each month and for the quarter in total. DOWN UNDER PRODUCTS, LTD. Production Budget April May June Quarter Total needs
Management Accounting Course Project – Part 1, B Group The Terranova Company is preparing information to complete its master budget for the quarter ending December 31, 2020. The company intends to make unit sales in the related months as follows: September 5,000 October 9,750 November 11,700 December 14,625 Units are to be sold for $10 each. Sales are 60% for cash and 40% on credit. Credit sales are collected in the month following the sale. *Required: 1) Prepare a sales budget for Terranova for the quarter ending December 31, 2020. Show activity by month and in total. (Hint: a quarter = 3 months.) 2) Complete a schedule of expected cash collections for the quarter ending December 31, 2020. Show activity by month and in total.
Question Content Area Motorcycle Manufacturers, Inc., projected sales of 78,000 machines for the year. The estimated January 1 inventory is 6,500 units, and the desired December 31 inventory is 6,000 units. The budgeted production for the year is
Swifty Corporation budgets on an annual basis for its fiscal year. The following beginning and ending inventory levels are planned for the fiscal year of July 1, 2016 to June 30, 2017: June 30, 2017 June 30, 2016 Raw 3000 kilos 1000 kilos Materials Three kilos of raw materials are needed to produce each unit of finished product. If Swifty Corporation plans to produce 480000 units during the 2016-2017 fiscal year, how many kilos of materials will the company need to purchase for its production during the year? O 1442000 O 1446000 O 1439000 O 1440000
Part B Tamy Sdn Bhd produces wooden desks. The following estimates are provided for the month of May, June, July and August 2021. Budgeted wooden desk sales in units 8,000 7,000 6,000 5,000 May June July August The estimated selling price is RM120 per unit. Tamy Sdn Bhd wants to have 10% of the next month's sales in units on hand at the end of each month. REQUIRED a) Prepare the sales budget for the month of May, June , July and Total 2021. b) Prepare the production budget for the month of May, June, July and Total 2021.
Question 18 -/1 View Policies Current Attempt in Progress At January 1, 2016, Concord Corporation has beginning inventory of 4000 surfboards. Concord estimates it will sell 8000 units during the first quarter of 2016 with a 12 % increase in sales each quarter. Concord's policy is to maintain an ending inventory equal to 25% of the next quarter's sales. Each surfboard costs $100 and is sold for $150. How much is budgeted sales revenue for the third quarter of 2016? ort O $10035.20 O $450000 O $1505280 O 1650000 e 8:53 PM 11/27/2019 hp rt sc delete end DO On & 6 8 backspace lock P 7 home dn Bd K enter 6 pause N T shitt end l ww USE YOUR SMARTPHONE FOR Reviews Videos Features ינ Specs Support SCAN

SEE MORE QUESTIONS

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS