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"PizzaUnits 16"PizzaBudgeted productionvolume74,00054,000There 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:Direct materials:12" Pizza16" PizzaDoughTomatoCheese0.55 lb. per unit0.80 lb. per unit0.250.700.401.20In addition, Tobin's has determined the following information about each material:Estimated inventory, November 1Desired inventory, November 30Price per poundDough TomatoCheese$0.402,300 lbs. 1,100 lbs. 2,800 lbs.2,200 lbs. 1,100 lbs. 2,800 lbs.$0.30$0.65This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below.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. Round your final answers to the nearest dollar.Tobin's Frozen Pizza Inc.Direct Materials Purchases BudgetFor the Month Ending November 30Units required for production:12" pizzaDoughTomatoCheese40,70018,500 ✔51,800 ✔Total

A budget is an estimate of income and expenses for a given future period of time that is often…

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" Units 16" Pizza Budgeted production volume Pizza 74,000 54,000 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: Direct materials: 12" Pizza 16" Pizza Dough Tomato Cheese 0.55 lb. per unit 0.80 lb. per unit 0.25 0.70 0.40 1.20 In addition, Tobin's has determined the following information about each material: Estimated inventory, November 1 Desired inventory, November 30 Price per pound $0.40 Dough Tomato 2.300 lbs. 1.100 lbs. 2,200 lbs. 1,100 lbs. 2,800 lbs. $0.30 Cheese 2.800 lbs. $0.65 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. 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. Round your final answers to the nearest dollar.

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" Units 16" Pizza Budgeted production volume Pizza 74,000 54,000 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: Direct materials: 12" Pizza 16" Pizza Dough Tomato Cheese 0.55 lb. per unit 0.80 lb. per unit 0.25 0.70 0.40 1.20 In addition, Tobin's has determined the following information about each material: Estimated inventory, November 1 Desired inventory, November 30 Price per pound $0.40 Dough Tomato 2.300 lbs. 1.100 lbs. 2,200 lbs. 1,100 lbs. 2,800 lbs. $0.30 Cheese 2.800 lbs. $0.65 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. 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. Round your final answers to the nearest dollar.

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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possible Heavy Products, Inc. developed standard costs for direct material and direct labor. In 2017, All estimated the following standard costs for one of their major products, the 10- gallon plastic container. Budgeted quantity. 0.1 pounds Budgeted price $100 per pound $20 per hour Direct materials Direct labor 0.1 hours During June, Heavy Products produced and sold 20,000 containers using 2,500 pounds of direct materials at an average cost per pound of $106 and 2,000 direct manufacturing labor - hours at an average wage of $101.00 per hour. The direct manufacturing labor efficiency variance during June is A. $162,000 favorable O B. $1,620,000 unfavorable OC. $0 M OD. $20,200 unfavorable http He In20 gallo Missim https:// Heav In 2017, 10minus 1 answer Missing: 0
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