FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- Stephanie Corporation sells a single product. Budgeted sales for the year are anticipated to be 643,000 units, estimated beginning inventory is 101,000 units, and desired ending inventory is 88,000 units. The quantities of direct materials expected to be used for each unit of finished product are given below. Material A 0.50 lb. per unit @ Material B 1.00 lb. per unit @ Material C 1.20 lb. per unit @ $0.64 per pound $2.47 per pound $0.94 per pound The dollar amount of material A used in production during the year is Oa. $205,760 Ob. $1,556,100 Oc. $710,640 Od. $201,600arrow_forwardHarbour Inc. projected sales of 252,000 personal journals for 20Y6. The estimated January 1, 20Y6, inventory is 13,700 units, and the desired December 31, 20Y6, inventory is 19,700 units. What is the budgeted production (in units) for 20Y6?fill in the blank 1 unitsarrow_forwardVishnuarrow_forward
- Clark Inc plans to sell 9000 lawn chairs during May, 9700 in June, and 7000 during July. The company keeps 15% of the next month's sales as ending inventory. How many units should Clark produce during June? 10105 9295 Not enough information to determine 10750arrow_forwardhelp plsarrow_forwardMasters Corporation provided their production budget for the next quarter: Units to be produced Desired Finished Goods Inventory 151,600 148,400 178,400 April 138,800 130,000 30,000 How many units is the company expecting to sell in the month of May? May Please explain what formula you used 150,000 28,400 June 142,000 31,600arrow_forward
- Cape Corporation sells a single product. Budgeted sales for the year are anticipated to be 640,000 units, estimated beginning inventory is 98,000 units, and desired ending inventory is 80,000 units. The quantities of direct materials expected to be used for each unit of finished product are as follows. Material A .50 lb. per unit @ $0.60 per pound Material B 1.00 lb. per unit @ $1.70 per pound Material C 1.20 lb. per unit @ $1.00 per pound The amount of direct material C purchased during the year is _____. a.$650,400 b.$768,000 c.$746,400 d.$789,600arrow_forwardLight It Up, Inc. manufactures lamps. The production budget shows that Light It Up plans to produce 3,600 lamps in June and 2,800 lamps in July. Each lamp requires 0.50 direct labor hours in its production. Light It Up has a direct labor rate of $19 per direct labor hour. What is the total combined direct labor cost that Light It Up should budget for June and July? $60,800 $13,300 $30,400 $17,100arrow_forwardCurrent Attempt in Progress Sheridan Construction Company determines that 58000 pounds of direct materials are needed for production in July. There are 4200 pounds of direct materials on hand at July 1 and the desired ending inventory is 3000 pounds. If the cost per unit of direct materials is $5, what is the budgeted total cost of direct materials purchases for the month? ○ $296000. ○ $156000. O $284000. ○ $192000. Save for Later Attempts: 0 of 1 used Submit Answerarrow_forward
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