What is the dollar value of budgeted soap purchases? Round calculations to a level that makes sense for situation
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.
![A company is working on their budgets for the year 2021. They produce two
unique products: Degreaser and Polish. The Degreaser has two Raw Materials:
soap and baking soda. The Polish also has two Raw Materials: ketchup and salt.
The table below has a few of their expectations for 2021.
Expected Finished Goods to Degreaser: 8,880 units.
produce in 2021
Polish: 34,916 units
Raw Materials used in
production of one unit of
Degreaser
Raw Materials used in
production of one unit of
Polish
Estimated beginning
quantities of Raw Materials
Inventory
Estimated beginning
quantities of Finished Goods
Inventory
Soap: 1.5 oz at $0.518 per oz
Baking Soda: 6.6 oz at $0.333 per...
OZ
Desired ending quantities of
Finished Goods Inventory
Ketchup: 4.5 oz at $0.510 per oz
Salt: 6.0 oz at $0.339 per oz
Soap: 1,439.6 oz
Desired ending quantities of Baking Soda: 2,557.9 oz
Raw Materials Inventory
Ketchup: 39,127.6 oz
Salt: 46,363.8 oz
Soap: 1,138.4 oz
Baking Soda: 2,061.6 oz
Ketchup: 30,883.9 oz
Salt: 49,315.7 oz
Degreaser: 11,078 units
Polish: 24,607 units
Degreaser: 12,895 units
Polish: 24,339 units
What is the dollar value of budgeted soap purchases? (Round your calculations
to a level that makes sense for the situation. Enter your final answer to the
nearest whole dollar/input code: 0)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F20848197-a9ce-4d04-8b24-400207a60c4a%2Fed1ea874-218a-4511-963d-14aaa201b8ee%2F0bc8798_processed.jpeg&w=3840&q=75)
![Raw Materials used in
production of one unit of
Degreaser
Raw Materials used in
production of one unit of
Polish
Estimated beginning
quantities of Raw Materials
Inventory
Estimated beginning
quantities of Finished Goods
Inventory
Soap: 1.5 oz at $0.518 per oz
Baking Soda: 6.6 oz at $0.333 per
Desired ending quantities of
Finished Goods Inventory
OZ
Ketchup: 4.5 oz at $0.510 per oz
Salt: 6.0 oz at $0.339 per oz
Soap: 1,439.6 oz
Desired ending quantities of Baking Soda: 2,557.9 oz
Raw Materials Inventory
Ketchup: 39,127.6 oz
Salt: 46,363.8 oz
Soap: 1,138.4 oz
Baking Soda: 2,061.6 oz
Ketchup: 30,883.9 oz
Salt: 49,315.7 oz
Degreaser: 11,078 units
Polish: 24,607 units
Degreaser: 12,895 units
Polish: 24,339 units
What is the dollar value of budgeted soap purchases? (Round your calculations
to a level that makes sense for the situation. Enter your final answer to the
nearest whole dollar/input code: 0](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F20848197-a9ce-4d04-8b24-400207a60c4a%2Fed1ea874-218a-4511-963d-14aaa201b8ee%2F42b7q7_processed.jpeg&w=3840&q=75)
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