Swamy Stationery Inc. budgeted production of 64,000 planners in 2023. Paper is required to produce a planner. Assume 95 square yards of paper are required for each planner. The estimated January 1, 2023, paper inventory is 400,000 square yards. The desired December 31, 2023, paper inventory is 370,000 square yards. If paper costs $0.14 per square yard, determine the direct materials purchases budget for 2023.
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Determine the direct materials purchases
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- How much is the budget of good sold for 2024?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 Units 60,000 40,000 Price $165 $250 D-Two 2019 Inventories in Units: Expected Target January 1, 2019 20,000 8,000 Product December 31, 2019 25,000 9,000 D-One D-Two The following direct materials are used in the two products: Amount Used per Unit Direct material Unit D-One D-Two kilogram kilogram A 4 5 2 3 each 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 5 Target Inventories December 31, 2019 36,000 kg 32,000 kg 7,000 units A B C 3 Projected direct labour requirements and rates for 2019 are as follows: Product D-One D- Two Hours per unit Rate per hour $12 2 3 16 Based on the preceding projections and budget requirements for D-One…Lily Inc. is preparing its annual budgets for the year ending December 31, 2022. Accounting assistants furnish the data shown below. Sales budget: Anticipated volume in units Unit selling price Production budget: Desired ending finished goods units Beginning finished goods units Direct materials budget: Direct materials per unit (pounds) Desired ending direct materials pounds Beginning direct materials pounds Cost per pound Direct labor budget: Direct labor time per unit Direct labor rate per hour Budgeted income statement: Total unit cost Product JB 50 336,000 $25 25,200 21,000 2 25,200 33,600 $3 0.4 $12 $13 Product JB 60 168,000 $30 12,600 8,400 3 8,400 12,600 $4 0.6 $12 $20 An accounting assistant has prepared the detailed manufacturing overhead budget and the selling and administrative expense budget. The latter shows selling expenses of $470,400 for product JB 50 and $302,400 for product JB 60, and administrative expenses of $453,600 for product JB 50 and $285,600 for product JB…
- Sunland Inc. is preparing its annual budgets for the year ending December 31, 2025. Accounting assistants furnish the data shown below. Product JB 50 Product JB 60 Sales budget: Anticipated volume in units 480,000 240,000 Unit selling price $30 $35 Production budget: Desired ending finished goods units 36,000 18,000 Beginning finished goods units 30,000 12,000 Direct materials budget: Direct materials per unit (pounds) 2 3 Desired ending direct materials pounds 36,000 12,000 Beginning direct materials pounds 48,000 18,000 Cost per pound $3 $4 Direct labor budget: Direct labor time per unit 0.4 0.6 Direct labor rate per hour $12 $12 Budgeted income statement: Total unit cost $13 $20 An accounting assistant has prepared the detailed manufacturing overhead budget and the selling and administrative expense budget. The latter shows selling expenses of $672,000 for product JB 50 and $432,000 for product JB 60, and administrative expenses of $648,000 for product JB 50 and $408,000 for product…Walt Bach Company has accumulated the following budget data for the year 2019. Sales: 40000 units, unit selling price $50. Cost of one unit of finished goods: Direct materials 2 pounds at $5 per pound, direct labor 1.5 hours at $12 per hour, and manufacturing overhead $6 per direct labor hour. Inventories (raw material only): Beginning, 10000 pounds; ending, 15000 pounds. Raw materials cost: $5 per pound. Selling and administrative expenses: $200000 Income taxes: 30% of income before income taxes. Prepare a schedule showing the computation of cost of goods sold for 2019.Walt Bach Company has accumulated the following budget data for the year 2019. Sales: 40000 units, unit selling price $50. Cost of one unit of finished goods: Direct materials 2 pounds at $5 per pound, direct labor 1.5 hours at $12 per hour, and manufacturing overhead $6 per direct labor hour. Inventories (raw material only): Beginning, 10000 pounds; ending, 15000 pounds. Raw materials cost: $5 per pound. Selling and administrative expenses: $200000 Income taxes: 30% of income before income taxes. Prepare a budget income statement for 2019.
- Shamrock Inc. is preparing its annual budgets for the year ending December 31, 2022. Accounting assistants have provided the following data: Product LN 35 Product LN 40 Sales budget Expected volume in units 400,000 239,000 Unit selling price $31 $34 Production budget Desired ending finished good units 33,000 21,000 Beginning finished goods units 21,000 14,000 Direct materials budget: Direct materials per unit (kilograms) 2 3 Desired kilograms of ending direct materials 49,000 16,000 Beginning kilograms of direct materials 40,000 10,000 Cost per kilogram $2 $3 Direct labour budget Direct labour time per unit (hours) 0.50 0.70 Direct labour rate per hour $12 $12 Budgeted income statement Total unit cost $11 $20 An accounting assistant has prepared the…Shamrock Inc. is preparing its annual budgets for the year ending December 31, 2022. Accounting assistants have provided the following data: Product LN 35 Product LN 40 Sales budget Expected volume in units 400,000 239,000 Unit selling price $31 $34 Production budget Desired ending finished good units 33,000 21,000 Beginning finished goods units 21,000 14,000 Direct materials budget: Direct materials per unit (kilograms) 2 3 Desired kilograms of ending direct materials 49,000 16,000 Beginning kilograms of direct materials 40,000 10,000 Cost per kilogram $2 $3 Direct labour budget Direct labour time per unit (hours) 0.50 0.70 Direct labour rate per hour $12 $12 Budgeted income statement Total unit cost $11 $20 An accounting assistant has prepared the…Shadee Corp. expects to sell 630 sun visors in May and 410 in June.Each visor sells for $24. Shadee’s beginning and ending finishedgoods inventories for May are 75 and 45 units, respectively. Endingfinished goods inventory for June will be 60 units.!Required:1. Determine Shadee's budgeted total sales for May and June.2. Determine Shadee's budgeted production in units for May and June.