Horngren's Financial & Managerial Accounting, The Managerial Chapters (6th Edition)
6th Edition
ISBN: 9780134486857
Author: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura
Publisher: PEARSON
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Chapter 22, Problem 8SE
Preparing an operating budget—cost of goods sold budget
Butler Company expects to sell 1,650 units in January and 1,550 units in February. The company expects to incur the following product costs:
The beginning balance in Finished Goods Inventory is 250 units at $200 each for a total of $50,000. Butler uses FIFO inventory costing method. Prepare the cost of goods sold budget for Butler for January and February.
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Required information
Use the following information to answer questions. (Algo)
[The following information applies to the questions displayed below.]
Information on Kwon Manufacturing's activities for its first month of operations follows:
a. Purchased $100,800 of raw materials on credit.
b. Materials requisitions show the following materials used for the month.
Job 201
Job 202
Total direct materials
Indirect materials
Total materials used
$ 49,000
24,400
73,400
9,420
$ 82,820
c. Time tickets show the following labor used for the month.
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References
Job 201
$ 40,000
Job 202
13,400
Total direct labor
53,400
25,000
$ 78,400
Indirect labor
Total labor used
d. Applied overhead to Job 201 and to Job 202 using a predetermined overhead rate of 80% of direct materials cost.
e. Transferred Job 201 to Finished Goods Inventory.
f. Sold Job 201 for $166,160 on credit.
g. Incurred the following actual other…
quesrion 2
Anti-Pandemic Pharma Co. Ltd. reports the following information in
its income statement:
Sales = $5,250,000;
Costs = $2, 173,000;
Other expenses = $187,400;
Depreciation expense = $79,000;
Interest expense= $53,555;
Taxes $76,000;
Dividends $69,000.
$136,700 worth of new shares were also issued during the year and
long-term debt worth $65,300 was redeemed.
a) Compute the cash flow from assets
b) Compute the net change in working capital
(325 marks)
Chapter 22 Solutions
Horngren's Financial & Managerial Accounting, The Managerial Chapters (6th Edition)
Ch. 22 - Managers are required to think about future...Ch. 22 - Prob. 2TICh. 22 - Managers use results to evaluate employees...Ch. 22 - Managers work with managers in other divisions.Ch. 22 - Prob. 5TICh. 22 - Match the budget types to the definitions.Ch. 22 - Prob. 7TICh. 22 - Prob. 8TICh. 22 - Prob. 9TICh. 22 - Prob. 10TI
Ch. 22 - Prob. 11TICh. 22 - Prob. 12TICh. 22 - Prob. 13TICh. 22 - Prob. 14TICh. 22 - Prob. 15TICh. 22 - Prob. 16TICh. 22 - A company can expect to receive which of the...Ch. 22 - A company prepares a five-year budget. This budget...Ch. 22 - Which of the following is the cornerstone of the...Ch. 22 - Prob. 4QCCh. 22 - Suppose Iron City manufactures cast iron skillets....Ch. 22 - Prob. 6QCCh. 22 - Use the following information to answer questions...Ch. 22 - The budgeted income statement is part of which...Ch. 22 - Prob. 9QCCh. 22 - Use the following information to answer questions...Ch. 22 - Suppose Mallcentral sells 1,000 hardcover books...Ch. 22 - Prob. 12QCCh. 22 - Information technology has made it easier for...Ch. 22 - Prob. 1RQCh. 22 - Prob. 2RQCh. 22 - Prob. 3RQCh. 22 - What is budgetary slack? Why might managers try to...Ch. 22 - Explain the difference between strategic and...Ch. 22 - Explain the difference between static and flexible...Ch. 22 - What is a master budget?Ch. 22 - In a manufacturing company, what are the three...Ch. 22 - Why is the sales budget considered the cornerstone...Ch. 22 - Prob. 10RQCh. 22 - What is the formula used to determine the amount...Ch. 22 - What are the two types of manufacturing overhead?...Ch. 22 - How is the predetermined overhead allocation rate...Ch. 22 - What is the capital expenditures budget?Ch. 22 - Prob. 15RQCh. 22 - What are the budgeted financial statements? How do...Ch. 22 - How does the master budget for a merchandising...Ch. 22 - What is the formula used to determine the amount...Ch. 22 - What budgets are included in the financial budget...Ch. 22 - What is sensitivity analysis? Why is it important...Ch. 22 - Budgeting benefits List the three key benefits...Ch. 22 - Budgeting types Consider the following budgets and...Ch. 22 - Preparing an operating budgetsales budget Brown...Ch. 22 - Preparing an operating budgetproduction budget...Ch. 22 - Preparing an operating budgetdirect materials...Ch. 22 - Preparing an operating budgetdirect labor budget...Ch. 22 - Preparing an operating budgetmanufacturing...Ch. 22 - Preparing an operating budgetcost of goods sold...Ch. 22 - Berry expects total sales of 359,000 in January...Ch. 22 - Preparing a financial budgetschedule of cash...Ch. 22 - Preparing a financial budgetcash budget Booth has...Ch. 22 - Prob. 12SECh. 22 - Preparing an operating budgetsales budget Trailers...Ch. 22 - Preparing an operating budgetinventory, purchases,...Ch. 22 - Victors expects total sales of 702,000 for January...Ch. 22 - Prob. 16SECh. 22 - Preparing a financial budgetcash budget Wilson...Ch. 22 - Victors expects total sales of 702,000 for January...Ch. 22 - Using sensitivity analysis in budgeting Refer to...Ch. 22 - Using sensitivity analysis in budgeting Riverbed...Ch. 22 - Prob. 21ECh. 22 - Preparing an operating budgetsales budget...Ch. 22 - Preparing an operating budgetsales and production...Ch. 22 - Preparing an operating budgetdirect materials,...Ch. 22 - Preparing an operating budgetcost of goods sold...Ch. 22 - Preparing a financial budgetschedule of cash...Ch. 22 - Prob. 27ECh. 22 - Preparing the financial budgetcash budget Use the...Ch. 22 - Preparing the financial budgetcash budget Hoppy...Ch. 22 - Preparing the financial budgetbudgeted balance...Ch. 22 - Preparing an operating budgetinventory, purchases,...Ch. 22 - Preparing an operating budgetselling and...Ch. 22 - Prob. 33ECh. 22 - Preparing a financial budgetcash budget,...Ch. 22 - Preparing a financial budgetcash budget You...Ch. 22 - Use the following June actual ending balances and...Ch. 22 - Using sensitivity analysis Rucker Company prepared...Ch. 22 - Preparing an operating budgetsales, production,...Ch. 22 - Preparing an financial budgetschedule of cash...Ch. 22 - Preparing a financial budgetbudgeted income...Ch. 22 - Completing a comprehensive budgeting...Ch. 22 - Preparing an operating budgetsales budget;...Ch. 22 - Preparing a financial budgetschedule of cash...Ch. 22 - Preparing a financial budgetbudgeted income...Ch. 22 - Prob. 45APCh. 22 - Prob. 46APCh. 22 - Preparing an operating budgetsales, production,...Ch. 22 - Prob. 48BPCh. 22 - Preparing a financial budgetbudgeted income...Ch. 22 - Completing a comprehensive budgeting...Ch. 22 - Prob. 51BPCh. 22 - Preparing a financial budgetschedule of cash...Ch. 22 - Prob. 53BPCh. 22 - Belton Printing Company of Baltimore has applied...Ch. 22 - Using sensitivity analysis Holly Company prepared...Ch. 22 - Prob. 57PCh. 22 - Before you begin this assignment, read the...Ch. 22 - Prob. 1DCCh. 22 - Patrick works for McGills Computer Repair, owned...
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