Tobin's Frozen Pizza Inc. has determined from its production budget the following estimated production volumes for 12" and 16" frozen pizzas for November: Units 12" Pizza Units 16" Pizza Budgeted production volume 14,900 23,600 There are three direct materials used in producing the two types of pizza. The quantities of direct materials expected to be used for each pizza are as follows: 12" Pizza 16" Pizza Direct materials: Dough Tomato Cheese In addition, Tobin's has determined the following information about each material: 0.90 lb. per unit 0.60 0.80 Estimated inventory, November 1 Desired inventory, November 30 Price per pound Dough 520 lbs. 550 lbs. $1.40 1.50 lb. per unit 1.00 1.30 Tomato 230 lbs. 220 lbs. $2.40 Cheese 320 lbs. 350 lbs. $3.00 Prepare November's direct materials purchases budget for Tobin's Frozen Pizza Inc. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Tobiele Frenon Diggs To
Tobin's Frozen Pizza Inc. has determined from its production budget the following estimated production volumes for 12" and 16" frozen pizzas for November: Units 12" Pizza Units 16" Pizza Budgeted production volume 14,900 23,600 There are three direct materials used in producing the two types of pizza. The quantities of direct materials expected to be used for each pizza are as follows: 12" Pizza 16" Pizza Direct materials: Dough Tomato Cheese In addition, Tobin's has determined the following information about each material: 0.90 lb. per unit 0.60 0.80 Estimated inventory, November 1 Desired inventory, November 30 Price per pound Dough 520 lbs. 550 lbs. $1.40 1.50 lb. per unit 1.00 1.30 Tomato 230 lbs. 220 lbs. $2.40 Cheese 320 lbs. 350 lbs. $3.00 Prepare November's direct materials purchases budget for Tobin's Frozen Pizza Inc. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Tobiele Frenon Diggs To
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
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Please help me with show all calculation thanku
Transcribed Image Text:Direct materials purchases budget
Tobin's Frozen Pizza Inc. has determined from its production budget the following estimated production volumes for 12" and 16" frozen pizzas for November:
Budgeted production volume
14,900
23,600
There are three direct materials used in producing the two types of pizza. The quantities of direct materials expected to be used for each pizza are as follows:
12" Pizza
Direct materials:
Dough
Tomato
Cheese
Units 12" Pizza Units 16" Pizza
0.90 lb. per unit
0.60
Estimated inventory, November 1
Desired inventory, November 30
Price per pound
Line Item Description
Units required for production:
12" pizza
16" pizza
Total units available
0.80
Total units to be purchased
Unit Price
In addition, Tobin's has determined the following information about each material:
Total direct materials to be purchased
Dough
X $
520 lbs.
550 lbs.
16" Pizza
$1.40
1.50 lb. per unit
1.00
$2.40
$3.00
Prepare November's direct materials purchases budget for Tobin's Frozen Pizza Inc. For those boxes in which you must enter subtracted or negative numbers use a minus sign.
Tobin's Frozen Pizza Inc.
Direct Materials Purchases Budget
For the Month Ending November 30
Dough Tomato
x $
1.30
Tomato
230 lbs.
220 lbs.
Cheese
320 lbs.
350 lbs.
x $
Cheese Total
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