Scarborough Corporation manufactures and sells two products: D-One and D-Two. In July 2018, Scarborough budget department gathered the following data to prepare budgets for 2019: 2019 Projected Sales: Product D-One |D-Two Units 60,000 40,000 Price $165 $250 2019 Inventories in Units: Product D-One D-Two Expected Target January 1, 2019 20,000 8,000 December 31, 2019 25,000 9,000 The following direct materials are used in the two products: Direct material A Amount Used per Unit D-One 4 Unit D-Two kilogram kilogram each 5 3 1 Projected data for 2019 with respect to direct materials are as follows: Expected Inventories January 1, 2019 32,000 kg 29,000 kg 6,000 units Direct material Anticipated Purchase price $12 Target Inventories December 31, 2019 36,000 kg 32,000 kg 7,000 units A B 3 Projected direct labour requirements and rates for 2019 are as follows: Product D-One D- Two Hours per unit 2 3 Rate per hour $12 16 Based on the preceding projections and budget requirements for D-One and D-Two, prepare the following budgets for 2019. Required: a) Sales budget b) Production budget c) Direct material purchases budget (in quantities)

Scarborough Corporation manufactures and sells two products: D-One and D-Two. In July 2018, Scarborough budget department gathered the following data to prepare budgets for 2019: 2019 Projected Sales: Product D-One |D-Two Units 60,000 40,000 Price $165 $250 2019 Inventories in Units: Product D-One D-Two Expected Target January 1, 2019 20,000 8,000 December 31, 2019 25,000 9,000 The following direct materials are used in the two products: Direct material A Amount Used per Unit D-One 4 Unit D-Two kilogram kilogram each 5 3 1 Projected data for 2019 with respect to direct materials are as follows: Expected Inventories January 1, 2019 32,000 kg 29,000 kg 6,000 units Direct material Anticipated Purchase price $12 Target Inventories December 31, 2019 36,000 kg 32,000 kg 7,000 units A B 3 Projected direct labour requirements and rates for 2019 are as follows: Product D-One D- Two Hours per unit 2 3 Rate per hour $12 16 Based on the preceding projections and budget requirements for D-One and D-Two, prepare the following budgets for 2019. Required: a) Sales budget b) Production budget c) Direct material purchases budget (in quantities)

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

Ivanhoe, Inc. produces men's shirts. The following budgeted and actual amounts are for 2022: Cost Direct materials Direct labor Fixed overhead Budget at 2,650 units $66,250 71.550 39.050 Actual Amounts at 2,950 units $76,500 78,750 38,200
Point, Inc. produces men's shirts. The following budgeted and actual amounts are for 2019: Cost Budget at 3,000 units Actual Amounts at 2,800 units $75,000 87,000 Direct materials Direct labor Fixed overhead Instructions Prepare a performance report for Point, Inc. for the year. Direct materials Direct labor Fixed overhead Total costs F3 + F4 Ⓡ 3 # 4 $ F5 36,000 5 % F6 Budget F7 C Manufacturing Performance Budget Report For the Year Ended December 31, 2019 6 A POINT, INC. Search F8 $75,000 7 & 78,000 34,500 0: Actual F9 60 8 * Differences F/U LG F10 9 ( F11 - 0) F12 + Prt Sc ScrLk Ins = +
(The following information applies to the questions displayed below.] Shadee Corporation expects to sell 600 sun shades in May and 800 in June. Each shade sells for $180. Shadee's beginning and ending finished goods inventories for May are 75 and 50 shades, respectively. Ending finished goods inventory for June will be 60 shades. Required: 1. Determine Shadee's budgeted total sales for May and June, 2. Determine Shadee's budgeted production in units for May and June. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine Shadee's budgeted total sales for May and June Budgeted Total Sales May Juna
You have been presented with the following information by the Budget Committee of the organization in which you work: Sales forecast January – April 2020 Details Study lamps Accent lights Expected selling price per unit $300 $500 Sales Volume forecast: January 2 000 units 1 000 units February 2 500 units 1 500units March 3 000 units 1 000 units April 2 000 units 1 200 units Additional information: (i) Beginning inventories: study lamps 300 units; accent lights 200 units. (ii) The ending inventory for each product at the end of each month is to be maintained at 20% of the budgeted sales for the next month. (iii) To make one study lamp, four (4) units of raw material lumber are used, while five (5) units of raw material aluminum are used to make one accent lights. Required: The Sales Budget for both products for January to March 2020. The Direct Material usage budget.
Mary's Baskets Company expects to manufacture and sell 23,000 baskets in 2019 for $6 each. There are 3,000 baskets in beginning finished goods inventory with target ending inventory of 3,000 baskets. The company keeps no work- in-process inventory. What amount of sales revenue will be reported on the 2019 budgeted income statement? O A. $120,000 B. $156,000 OC. $102,000 OD. $138,000 Calculator Next
Ghu
answer in text form please (without image)
Vibrant Inc. manufactures two models of speakers, Rumble and Thunder. Based on the following production and sales data for June, prepare (a) a sales budget and (b) a production budget: Rumble Thunder Estimated inventory (units), June 1 258 70 Desired inventory (units), June 30 296 61 Expected sales volume (units): North Region 3,250 3,650 South Region 5,200 4,500 Unit sales price $95 $185 a. Prepare a sales budget. Vibrant Inc. Sales Budget For the Month Ending June 30 Unit Unit Total Sales Selling Sales Volume Price Product and Area Model Rumble: North Region South Region Total Model Thunder: North Region South Region Total Total revenue from sales b. Prepare a production budget. Vibrant Inc. Production Budget For the Month Ending June 30 Units Units Model Model Rumble Thunder Expected units to be sold Total units required Total units to be produced