Question Content Area Direct Materials Purchases Budget FlashKick Company manufactures and sells soccer balls for teams of children in elementary and high school. FlashKick’s best-selling lines are the practice ball line (durable soccer balls for training and practice) and the match ball line (high-performance soccer balls used in games). In the first four months of next year, FlashKick expects to sell the following: Practice Balls Match Balls Units Selling Price Units Selling Price January 49,000 $8.50 6,900 $17.30 February 60,000 $8.50 7,500 $17.30 March 88,000 $8.50 12,000 $17.30 April 115,000 $8.50 17,000 $17.30 FlashKick requires ending inventory of product to equal 20 percent of the next month’s unit sales. Beginning inventory in January was 9,800 practice soccer balls and 1,380 match soccer balls. Every practice ball requires 0.7 square yard of polyvinyl chloride panels, one bladder with valve (to fill with air), and 2 ounces of glue. FlashKick’s policy is that 20 percent of the following month’s production needs for raw materials be in ending inventory. Beginning inventory in January for all raw materials met this requirement. Required: Question Content Area Construct a direct materials purchases budget for each type of raw materials for the practice ball line for January and February of the coming year. If required, round your answers to the nearest cent. Direct materials purchases budget for polyvinyl chloride panels: FlashKick CompanyDirect Materials Purchases Budget - Polyvinyl Chloride PanelsFor January and February Polyvinyl chloride panels: January February Units produced fill in the blank ad529f00df9afbb_1 fill in the blank ad529f00df9afbb_2 - Select - - Select - Direct materials for production fill in the blank ad529f00df9afbb_6 fill in the blank ad529f00df9afbb_7 - Select - - Select - Total needed fill in the blank ad529f00df9afbb_11 fill in the blank ad529f00df9afbb_12 - Select - - Select - Direct materials purchases fill in the blank ad529f00df9afbb_16 fill in the blank ad529f00df9afbb_17 Question Content Area Direct materials purchases budget for bladder and valve: FlashKick CompanyDirect Materials Purchases Budget - Bladder and ValveFor January and February Bladder and valve: January February Units produced fill in the blank 8ca169034fb1fb6_1 fill in the blank 8ca169034fb1fb6_2 - Select - - Select - Direct materials for production fill in the blank 8ca169034fb1fb6_6 fill in the blank 8ca169034fb1fb6_7 - Select - - Select - Total needed fill in the blank 8ca169034fb1fb6_11 fill in the blank 8ca169034fb1fb6_12 - Select - - Select - Direct materials purchases fill in the blank 8ca169034fb1fb6_16 fill in the blank 8ca169034fb1fb6_17 Question Content Area Direct materials purchases budget for glue: FlashKick CompanyDirect Materials Purchases Budget - GlueFor January and February Glue: January February Units produced fill in the blank 6ba31c061fccfde_1 fill in the blank 6ba31c061fccfde_2 - Select - - Select - Direct materials for production fill in the blank 6ba31c061fccfde_6 fill in the blank 6ba31c061fccfde_7 - Select - - Select - Total needed fill in the blank 6ba31c061fccfde_11 fill in the blank 6ba31c061fccfde_12 - Select - - Select - Direct materials purchases fill in the blank 6ba31c061fccfde_16 fill in the blank 6ba31c061fccfde_17

Question Content Area Direct Materials Purchases Budget FlashKick Company manufactures and sells soccer balls for teams of children in elementary and high school. FlashKick’s best-selling lines are the practice ball line (durable soccer balls for training and practice) and the match ball line (high-performance soccer balls used in games). In the first four months of next year, FlashKick expects to sell the following: Practice Balls Match Balls Units Selling Price Units Selling Price January 49,000 $8.50 6,900 $17.30 February 60,000 $8.50 7,500 $17.30 March 88,000 $8.50 12,000 $17.30 April 115,000 $8.50 17,000 $17.30 FlashKick requires ending inventory of product to equal 20 percent of the next month’s unit sales. Beginning inventory in January was 9,800 practice soccer balls and 1,380 match soccer balls. Every practice ball requires 0.7 square yard of polyvinyl chloride panels, one bladder with valve (to fill with air), and 2 ounces of glue. FlashKick’s policy is that 20 percent of the following month’s production needs for raw materials be in ending inventory. Beginning inventory in January for all raw materials met this requirement. Required: Question Content Area Construct a direct materials purchases budget for each type of raw materials for the practice ball line for January and February of the coming year. If required, round your answers to the nearest cent. Direct materials purchases budget for polyvinyl chloride panels: FlashKick CompanyDirect Materials Purchases Budget - Polyvinyl Chloride PanelsFor January and February Polyvinyl chloride panels: January February Units produced fill in the blank ad529f00df9afbb_1 fill in the blank ad529f00df9afbb_2 - Select - - Select - Direct materials for production fill in the blank ad529f00df9afbb_6 fill in the blank ad529f00df9afbb_7 - Select - - Select - Total needed fill in the blank ad529f00df9afbb_11 fill in the blank ad529f00df9afbb_12 - Select - - Select - Direct materials purchases fill in the blank ad529f00df9afbb_16 fill in the blank ad529f00df9afbb_17 Question Content Area Direct materials purchases budget for bladder and valve: FlashKick CompanyDirect Materials Purchases Budget - Bladder and ValveFor January and February Bladder and valve: January February Units produced fill in the blank 8ca169034fb1fb6_1 fill in the blank 8ca169034fb1fb6_2 - Select - - Select - Direct materials for production fill in the blank 8ca169034fb1fb6_6 fill in the blank 8ca169034fb1fb6_7 - Select - - Select - Total needed fill in the blank 8ca169034fb1fb6_11 fill in the blank 8ca169034fb1fb6_12 - Select - - Select - Direct materials purchases fill in the blank 8ca169034fb1fb6_16 fill in the blank 8ca169034fb1fb6_17 Question Content Area Direct materials purchases budget for glue: FlashKick CompanyDirect Materials Purchases Budget - GlueFor January and February Glue: January February Units produced fill in the blank 6ba31c061fccfde_1 fill in the blank 6ba31c061fccfde_2 - Select - - Select - Direct materials for production fill in the blank 6ba31c061fccfde_6 fill in the blank 6ba31c061fccfde_7 - Select - - Select - Total needed fill in the blank 6ba31c061fccfde_11 fill in the blank 6ba31c061fccfde_12 - Select - - Select - Direct materials purchases fill in the blank 6ba31c061fccfde_16 fill in the blank 6ba31c061fccfde_17

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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1. Question Content Area

Direct Materials Purchases Budget

FlashKick Company manufactures and sells soccer balls for teams of children in elementary and high school. FlashKick’s best-selling lines are the practice ball line (durable soccer balls for training and practice) and the match ball line (high-performance soccer balls used in games). In the first four months of next year, FlashKick expects to sell the following:

	Practice Balls	Match Balls
	Units	Selling Price	Units	Selling Price
January	49,000	$8.50	6,900	$17.30
February	60,000	$8.50	7,500	$17.30
March	88,000	$8.50	12,000	$17.30
April	115,000	$8.50	17,000	$17.30

FlashKick requires ending inventory of product to equal 20 percent of the next month’s unit sales. Beginning inventory in January was 9,800 practice soccer balls and 1,380 match soccer balls.

Every practice ball requires 0.7 square yard of polyvinyl chloride panels, one bladder with valve (to fill with air), and 2 ounces of glue. FlashKick’s policy is that 20 percent of the following month’s production needs for raw materials be in ending inventory. Beginning inventory in January for all raw materials met this requirement.

Required:

Question Content Area

Construct a direct materials purchases budget for each type of raw materials for the practice ball line for January and February of the coming year. If required, round your answers to the nearest cent.

Direct materials purchases budget for polyvinyl chloride panels:

FlashKick CompanyDirect Materials Purchases Budget - Polyvinyl Chloride PanelsFor January and February

Polyvinyl chloride panels:	January	February
Units produced	fill in the blank ad529f00df9afbb_1	fill in the blank ad529f00df9afbb_2
	- Select -	- Select -
Direct materials for production	fill in the blank ad529f00df9afbb_6	fill in the blank ad529f00df9afbb_7
	- Select -	- Select -
Total needed	fill in the blank ad529f00df9afbb_11	fill in the blank ad529f00df9afbb_12
	- Select -	- Select -
Direct materials purchases	fill in the blank ad529f00df9afbb_16	fill in the blank ad529f00df9afbb_17

Question Content Area

Direct materials purchases budget for bladder and valve:

FlashKick CompanyDirect Materials Purchases Budget - Bladder and ValveFor January and February

Bladder and valve:	January	February
Units produced	fill in the blank 8ca169034fb1fb6_1	fill in the blank 8ca169034fb1fb6_2
	- Select -	- Select -
Direct materials for production	fill in the blank 8ca169034fb1fb6_6	fill in the blank 8ca169034fb1fb6_7
	- Select -	- Select -
Total needed	fill in the blank 8ca169034fb1fb6_11	fill in the blank 8ca169034fb1fb6_12
	- Select -	- Select -
Direct materials purchases	fill in the blank 8ca169034fb1fb6_16	fill in the blank 8ca169034fb1fb6_17

Question Content Area

Direct materials purchases budget for glue:

FlashKick CompanyDirect Materials Purchases Budget - GlueFor January and February

Glue:	January	February
Units produced	fill in the blank 6ba31c061fccfde_1	fill in the blank 6ba31c061fccfde_2
	- Select -	- Select -
Direct materials for production	fill in the blank 6ba31c061fccfde_6	fill in the blank 6ba31c061fccfde_7
	- Select -	- Select -
Total needed	fill in the blank 6ba31c061fccfde_11	fill in the blank 6ba31c061fccfde_12
	- Select -	- Select -
Direct materials purchases	fill in the blank 6ba31c061fccfde_16	fill in the blank 6ba31c061fccfde_17

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