FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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If paper cost $0.60 per square yard, determine the direct materials purchases budget for 20Y6.
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- Kk.186.arrow_forwardam. 103.arrow_forwardMary's Baskets Company expects to manufacture and sell 23,000 baskets in 2019 for $6 each. There are 3,000 baskets in beginning finished goods inventory with target ending inventory of 3,000 baskets. The company keeps no work- in-process inventory. What amount of sales revenue will be reported on the 2019 budgeted income statement? O A. $120,000 B. $156,000 OC. $102,000 OD. $138,000 Calculator Nextarrow_forward
- Use the information provided below to prepare the Materials Purchases Budget of Lunar Limited for 2025. INFORMATION The required production of Lunar Limited for 2025 for the only product that it manufactures is 5 000 units. Four kilograms of direct materials are required for each unit produced. The direct materials inventories on 01 January 2025 and 31 December 2025 are expected to be 3 000 kilograms and 5 000 kilograms respectively. The expected purchase price is R6 per kilogram.arrow_forwardSelected information from the direct materials budget of Perry Incorporated is provided here: First Second Third Fourth Required production in units of finished goods 15,000 12,500 7,500 15,000 Units of raw materials needed per unit of finished goods 4 4 4 4 Units of raw materials needed to meet production 60,000 50,000 30,000 60,000 Desired units of ending raw materials inventory ? ? ? 24,000 Total units of raw materials needed Units of beginning raw materials inventory 16,000 ? ? ? Units of raw materials to be purchased ? ? ? ? Unit cost of raw materials $ 5 $ 5 $ 5 $ 5 Cost of raw materials to be purchased ? ? ? ? Perry, Incorporated desires to maintain the ending inventory of raw materials at 40 percent of the next quarter's raw material needs. What is the cost of raw materials to be purchased in the first quarter? multiple choice $300,000 $320,000 $380,000 $400,000arrow_forwardSeranno Inc. budgeted production of 55,000 personal journals in 20Y6. Paper is required to produce a journal. Assume 104 square yards of paper are required for each journal. The estimated January 1, 20Y6, paper inventory is 286,000 square yards. The desired December 31, 20Y6, paper inventory is 315,000 square yards. If paper costs $0.16 per square yard, determine the direct materials purchases budget for 20Y6. If required, round your final answer to the nearest dollar.$arrow_forward
- Please provide answer in text (Without image)arrow_forwardAsv1arrow_forwardConsider Derek's budget information: materials to be used, $63,300; direct labor, $199,200; factory overhead, $397,400; work in process inventory on January 1, $189,300; and work in progress inventory on December 31, $194,100. What is the budgeted cost of goods manufactured for the year? a.$655,100 b.$849,200 c.$659,900 d.$194,100arrow_forward
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