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The Boswell Corporation forecasts its sales in units for the next four months as follows: March April May June 9,000 11,000 8,500 Boswell maintains an ending inventory for each month in the amount of two times the expected sales in the following month. The ending inventory for February (March's beginning inventory) reflects this policy. Materials cost $6 per unit and are paid for in the month after production. Labour cost is $10 per unit and is paid for in the month incurred. Fixed overhead is $13,500 per month. Dividends of $20,300 are to be paid in May. Eight thousand units were produced in February. a. Complete a production schedule for March, April, and May. (Enter all values as positive value.) 7,000 Boswell Corporation Production Schedule Forecasted unit sales Desired ending inventory Beginning inventory Units to be produced Materials. Units produced Dividends b. Complete a summary of cash payments for March, April, and May. Boswell Corporation Cash Payments Labour Fixed overhead March Total cash payments February April March $ $ May April $ $ June May $ $

The Boswell Corporation forecasts its sales in units for the next four months as follows: March April May June 9,000 11,000 8,500 Boswell maintains an ending inventory for each month in the amount of two times the expected sales in the following month. The ending inventory for February (March's beginning inventory) reflects this policy. Materials cost $6 per unit and are paid for in the month after production. Labour cost is $10 per unit and is paid for in the month incurred. Fixed overhead is $13,500 per month. Dividends of $20,300 are to be paid in May. Eight thousand units were produced in February. a. Complete a production schedule for March, April, and May. (Enter all values as positive value.) 7,000 Boswell Corporation Production Schedule Forecasted unit sales Desired ending inventory Beginning inventory Units to be produced Materials. Units produced Dividends b. Complete a summary of cash payments for March, April, and May. Boswell Corporation Cash Payments Labour Fixed overhead March Total cash payments February April March $ $ May April $ $ June May $ $

FINANCIAL ACCOUNTING
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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The Boswell Corporation forecasts its sales in units for the next four months as follows: March April May June Boswell maintains an ending inventory for each month in the amount of two times the expected sales in the following month. The ending inventory for February (March's beginning inventory) reflects this policy. Materials cost $6 per unit and are paid for in the month after production. Labour cost is $10 per unit and is paid for in the month incurred. Fixed overhead is $13,500 per month. Dividends of $20,300 are to be paid in May. Eight thousand units were produced in February. a. Complete a production schedule for March, April, and May. (Enter all values as positive value.) Boswell Corporation Production Schedule 9,000 11,000 8,500 7,000 Forecasted unit sales Desired ending inventory Beginning inventory Units to be produced Units produced Materials b. Complete a summary of cash payments for March, April, and May. Boswell Corporation Cash Payments Labour Fixed overhead Dividends March Total cash payments February April March $ $ May April $ $ June May $ $
Transcribed Image Text:The Boswell Corporation forecasts its sales in units for the next four months as follows: March April May June Boswell maintains an ending inventory for each month in the amount of two times the expected sales in the following month. The ending inventory for February (March's beginning inventory) reflects this policy. Materials cost $6 per unit and are paid for in the month after production. Labour cost is $10 per unit and is paid for in the month incurred. Fixed overhead is $13,500 per month. Dividends of $20,300 are to be paid in May. Eight thousand units were produced in February. a. Complete a production schedule for March, April, and May. (Enter all values as positive value.) Boswell Corporation Production Schedule 9,000 11,000 8,500 7,000 Forecasted unit sales Desired ending inventory Beginning inventory Units to be produced Units produced Materials b. Complete a summary of cash payments for March, April, and May. Boswell Corporation Cash Payments Labour Fixed overhead Dividends March Total cash payments February April March $ $ May April $ $ June May $ $
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