FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- I need fast please without plagiarismarrow_forwardPlease do not give solution in image format thankuarrow_forwardLens Junction sells lenses for $44 each and is estimating sales of 15,000 units in January and 19,000 in February. Each lens consists of 2 pounds of silicon costing $2.50 per pound, 3 oz of solution costing $3 per ounce, and 30 minutes of direct labor at a labor rate of $16 per hour. Desired inventory levels are: Jan. 31 Feb. 28 Mar. 31 Beginning inventory Finished goods 4,700 4,700 5,200 Direct materials: silicon 8,400 9,000 9,100 Direct materials: solution 11,300 12,100 13,100 Question Content Area Prepare a sales budget. Lens JunctionSales BudgetFor the Two Months Ending February 28, 20XX January February Expected Sales (Units) fill in the blank e3844e01cfa6fde_1 fill in the blank e3844e01cfa6fde_2 Sales Price per Unit $fill in the blank e3844e01cfa6fde_3 $fill in the blank e3844e01cfa6fde_4 Total Sales Revenue $fill in the blank e3844e01cfa6fde_5 $fill in the blank e3844e01cfa6fde_6 Total $fill in the blank e3844e01cfa6fde_7…arrow_forward
- Crest Products expects the following sales of its single product Units September October November December January Required: Crest has an ending finished goods Inventory policy of 30% of the next month's sales needs. September 1 Inventory is projected to be 7,400 units. Each finished unit requires 2 units of Component X and 3 units of Component Z. August 1 materials Inventory includes 3,000 units of Component X and 159,000 units of Component Z. Crest desires to maintain a Component X Inventory equal to 10% of next month's production needs and a Component Z Inventory equal to 20% of next month's production needs. a. Prepare a production budget for Crest for the quarter ending December 31. 26,800 19,700 16,100 18,700 16,000 Crest Products Production Budget For the Quarter Ending December 31 October November Budgeted unit sales Plus: Ending finished goods inventory Less: Beginning finished goods inventory Budgeted production (units) Budgeted production (units) Direct materials…arrow_forwardUse the following information for questions 33-36: Lovely Manufacturing has scheduled production as follows for the next several months: Months Production January 1,000 February 1,200 March 1,400 Assume that it takes two pounds of raw material to make one finished unit and that ending inventory of raw materials for any month is scheduled to be 25% of next month production needs. 1.The beginning inventory of raw materials in pounds for January should be? 2. The desired ending inventory of raw materials in pounds for February is?arrow_forwardRequired information Paradise Company plans the following beginning and ending inventory levels (in units) for June: June 1 June 31 Raw material Work in process Finished goods 60.000 10.000 82.000 52.500 10.000 52,500 Two units of raw material are needed to produce each unit of finished product. If Paradise Company plans to sell 480,000 units during June, what would be the number of units it would have to manufacture during June? Mutiple Choice 440,000 units. 450,000 units. 450,500 units S10.000 unitsarrow_forward
- DONT GIVE ANSWER IN IMAGE FORMATarrow_forwardQuestion 6. Juicy Ltd produces and sells Fruit Juices. The company provides the following estimated sales for the next six months: Month January February March April May June Unit Sales: 100,000 110,000 120,000 110,000 130,000 120,000 The company's policy is to keep ending inventory of finished goods that is equal to 20% of the unit sales for the next month. Three kilograms of direct materials are required for each bottle of finished goods produced. Each kilogram of direct materials costs $6. Ending inventory levels for materials are equal to 20% of the production needs for the next month. Sales price per bottle is $60. Required (show your workings and round it to the nearest two decimal places): (a) Prepare sales budgets in units and dollars for February and March Prepare production budgets in units for February and March (b) (d) Prepare direct materials purchases budgets in kilograms and dollars for February ANSWER 6: PLACE YOUR ANSWER HERE (PRESS ENTER TO CREATE MORE SPACE) (5…arrow_forwardSolve the problemarrow_forward
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