Yeah Company expects to sell 1,700 units of finished product in January and 2,050 units in February. The company has 260 units on hand on January 1 and desires to have an ending inventory equal to 40%the next month's sales. March sales are expected to be 2,120 units. Prepare Yeah's production budget for January and February.Select the labels, enter the amounts and prepare the production budget for January. Then, prepare the production budget for February.Yeah CompanyProduction BudgetTwo Months Ended January 31 and February, 28Plus:Total units neededLess:Budgeted units to be producedJanuary

The objective of the question is to prepare the production budget for Yeah Company for the months of…

Answered: Yeah Company expects to sell 1,700…

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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Cahuilla Corporation predicts the following sales in units for the coming four months: Sales in units Each month's ending finished goods inventory should be 40% of the next month's sales. March 31 finished goods inventory is 144 units. A finished unit requires five pounds of direct material B at a cost of $2.00 per pound. The March 31 Raw Materials Inventory has 210 pounds of B. Each month's ending Raw Materials Inventory should be 30% of the following month's production needs. The budgeted production for May is: Multiple Choice 350 units. April May June July 360 400 420 360 240 units.
The Company manufactures foam cushions. The number of cushions to be produced in the upcoming three months follows: Number of foam cushions to be produced in July 13,000 Number of foam cushions to be produced in August 19,000 Number of foam cushions to be produced in September 12,000 Each cushion requires 2 pounds of the foam used as stuffing. The Company has a policy that the ending inventory of foam each month must be equal to 30% of the following month's expected production needs. How many pounds of foam does the Company need to purchase in August?
Becker Bikes manufactures tricycles. The company expects to sell 500 units in May and 630 units in June. Beginning and ending finished goods for May are expected to be 170 and 135 units, respectively. June's ending finished goods are expected to be 145 units. Compute Becker's production budget for May and June. Budgeted production (units) May June
In October, November, and December, CVM Inc. expects to sell 50,000, 48,000, and 51,000 units, respectively. The company's policy is to keep an end-of-month finished-goods inventory equal to 40% of the following month's sales. On the basis of this information, how many units would the company plan to produce in November?
Paper Corporation expects to have the sales and expenses shown for August, September,andOctober. The company expects to receive 55% of collections for sales in the month the saleoccurs, 35% in the following month, and the remainder to be uncollectible. The companypolicy for manufacturing expenses requires that 70% of the expenses be paid in the monthincurred and 30% in the following month. All other expenses are paid in the month incurred.The company also earns and collects $5,000 of rental revenue eachmonth. At the end of thequarter, Paper Corporation must make an estimated tax payment, which the companyestimates will be 7% of the quarter’s total sales. Prepare the cash budget for the three monthsif cash as of August 1, 2015, totaled $51,500. The company requires a $50,000 minimum cashbalance. July August September October Sales $34,000 $39,000 $46,000 $40,000 Manufacturing costs 15,200 16,800 20,100 19,900 Selling expenses 10,000 10,200 14,500 16,500 Administrative…
Croy Inc. has the following projected sales for the next five months: Month Salen in Unita 3,850 3,875 4, 260 4,135 3,590 April May June July August Croy's finished goods inventory policy is to have 60 percent of the next month's sales on hand at the end of each month, Direct materials cost $3.10 per pound, and each unit requires 2 pounds. Direct materials inventory policy is to have 50 percent of the next month's production needs on hand at the end of each month. Direct materials on hand at March 31 totaled 3,865 pounds. Required: 1. Determine budgeted production for April, May, and June. 2. Determine budgeted cost of materials purchased for April and May.
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Tasty Foods expects to have 37,000 units of finished goods inventory on hand on March 31 and reports the following expected sales (in units) for the months of April through July: April 137,000 May 157,000 June 167,000 July 137,000 At the end of each month the company desires its ending finished goods inventory to be 20% of the next month's projected sales (in units). The budgeted production (in units) for Tasty Foods for April should be: Multiple Choice 142.600. 137,000. 144,200. 131,400, 172.600.
One Device makes universal remote controls and expects to sell 526 units in January, 575 in February, 922 in March, 420 in April, and 590 in May. The required ending inventory is 19% of the next month’s sales. Calculate the total production for the first four months (January, February, March and April). Round to the nearest hundreth, two decimal places.
Majan Company expects sales of Product G to be 30,000 units in April, 40,000 units in May and 50,000 units in June. The company desires that the inventory on hand at the end of each month be equal to 30% of the next month's expected unit sales. Due to excessive production during March, on March 31 there were 20,000 units of Product G in the ending inventory. Majan Company's production of Product G for May should be:
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