FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- Copr Goedl 2022 Sheba Industries reported the following budgeted sales in units for the first quarter of the fiscal year. Month Units June 3,300 July 2,960 3,120 August The desired ending finished goods inventory should be 10% of the next month's sales in units. The inventory on May 31 contained 330 units, which is the beginning inventory for June. The manager is preparing the production budget. The total number of units to be produced in July is: 2,976 units 3,272 units 3,266 units O3,596 unitsarrow_forwardFill in the missing information from the following schedules: Sales Budget For the Year Ending Dec. 31, 2018 Quarter 1 Quarter 2 Quarter 3 Quarter 4 Total Expected sales (units) 7,600 8,300 8,700 9,100 fill in the blank 1 Sales price per unit $45 $50 $50 $56 Total sales revenue $342,000 $415,000 $435,000 $fill in the blank 2 $fill in the blank 3 Production Budget For the Year Ending Dec. 31, 2018 Quarter 1 Quarter 2 Quarter 3 Quarter 4 Q1, Year 2 Expected sales 7,600 8,300 8,700 9,100 7,900 Desired ending inventory 1,660 1,740 1,820 fill in the blank 4 900 Total required units 9,260 10,040 10,520 10,680 8,800 Less: Beginning inventory 1,520 1,660 1,740 1,820 1,580 Required production 7,740 8,380 8,780 fill in the blank 5 7,220 Total fill in the blank 6 Direct Materials Budget For the Year Ending Dec. 31, 2018 Quarter 1 Quarter 2 Quarter 3 Quarter 4 Total Units to be produced 7,740…arrow_forwardBudgeted sales for the month of April are shown in the following table: April May June $500 $800 Sales Cash Sales Sales on Account The company expects a 25% Increase in sales per month for May and June. The amount of sales revenues that would appear on the company's 2nd quarter pro forma income statement would be Multiple Choice O O $4,956.25. $4,225.50. $3,050.00. $2,031.25.arrow_forward
- Current Attempt in Progress Monty Company combines its operating expenses for budget purposes in a selling and administrative expense budget For the first quarter of 2022, the following data are developed L Sales: 21,500 units unit selling price 2 Variable costs per sales dollar Sales commissions Delivery expense 3 Advertising Fixed costs per quarter Sales salaries Office salaries Depreciation Insurance Utilities $30 Save for Later 6% 4% $24,400 19,500 5,000 2,100 1,000 Prepare a selling and administrative expense budget for the first quarter of 2022 (List variable costs before fixed costs) MONTYCOMPANY Selling and Administrative Expense Budgetarrow_forwardPlease avoid images in solution thankuarrow_forwarda1arrow_forward
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