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 16" Pizza Budgeted production volume 75,000 55,000 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: 12" Pizza 16" Pizza Direct materials: Dough 0.55 lb. per unit 0.80 lbs. per unit Tomato 0.25 0.40 Cheese 0.70 1.20 In addition, Tobin’s has determined the following information about each material: Dough Tomato Cheese Estimated inventory, November 1 2,500 lbs. 1,100 lbs. 2,900 lbs. Desired inventory, November 30 1,900 lbs. 1,500 lbs. 2,700 lbs. Price per pound $0.60 $0.70 $0.95 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" Pizza 16" Pizza Budgeted production volume 75,000 55,000 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: 12" Pizza 16" Pizza Direct materials: Dough 0.55 lb. per unit 0.80 lbs. per unit Tomato 0.25 0.40 Cheese 0.70 1.20 In addition, Tobin’s has determined the following information about each material: Dough Tomato Cheese Estimated inventory, November 1 2,500 lbs. 1,100 lbs. 2,900 lbs. Desired inventory, November 30 1,900 lbs. 1,500 lbs. 2,700 lbs. Price per pound $0.60 $0.70 $0.95 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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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 | 16" Pizza | |||
| Budgeted production volume | 75,000 | 55,000 |
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:
| 12" Pizza | 16" Pizza | ||||
| Direct materials: | |||||
| Dough | 0.55 | lb. per unit | 0.80 | lbs. per unit | |
| Tomato | 0.25 | 0.40 | |||
| Cheese | 0.70 | 1.20 |
In addition, Tobin’s has determined the following information about each material:
| Dough | Tomato | Cheese | ||||
| Estimated inventory, November 1 | 2,500 | lbs. | 1,100 | lbs. | 2,900 | lbs. |
| Desired inventory, November 30 | 1,900 | lbs. | 1,500 | lbs. | 2,700 | lbs. |
| Price per pound | $0.60 | $0.70 | $0.95 |
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.
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