Direct Materials Purchases Budget FlashKick Company manufactures and sells soccer balls for teams of children in elementary and high school. FlashKick's best-selling lines are the practice ball line (durable soccer balls for training and practice) and the match ball line (high-performance soccer balls used in games). In the first four months of next year, FlashKick expects to sell the following: Practice Balls Match Balls Units Selling Price Units Selling Price January 42,000 $8.50 6,100 $16.40 February 57,000 $8.50 8,000 $16.40 March 80,000 $8.50 13,500 $16.40 April 115,000 $8.50 17,000 $16.40 FlashKick requires ending inventory of product to equal 20 percent of the next month's unit sales. Beginning inventory in January was 8,400 practice soccer balls and 1,220 match soccer balls. Every practice ball requires 0.5 square yard of polyvinyl chloride panels, one bladder with valve (to fill with air), and 2 ounces of glue.
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- 1. Question Content Area Sales Budget FlashKick Company manufactures and sells soccer balls for teams of children in elementary and high school. FlashKick’s best-selling lines are the practice ball line (durable soccer balls for training and practice) and the match ball line (high-performance soccer balls used in games). In the first four months of next year, FlashKick expects to sell the following: Practice Balls Match Balls Units Selling Price Units Selling Price January 50,000 $8.25 7,000 $16.00 February 58,000 $8.25 8,000 $16.00 March 80,000 $8.25 13,000 $16.00 April 100,000 $8.25 18,000 $16.00 Required: Question Content Area 1. Construct a sales budget for FlashKick for the first three months of the coming year. Show total sales for each product line by month and in total for the first quarter. If required, round your answers to the nearest cent. FlashKick CompanySales BudgetFor the First Quarter of Next Year…1. Question Content Area Direct Materials Purchases Budget FlashKick Company manufactures and sells soccer balls for teams of children in elementary and high school. FlashKick’s best-selling lines are the practice ball line (durable soccer balls for training and practice) and the match ball line (high-performance soccer balls used in games). In the first four months of next year, FlashKick expects to sell the following: Practice Balls Match Balls Units Selling Price Units Selling Price January 49,000 $8.50 6,900 $17.30 February 60,000 $8.50 7,500 $17.30 March 88,000 $8.50 12,000 $17.30 April 115,000 $8.50 17,000 $17.30 FlashKick requires ending inventory of product to equal 20 percent of the next month’s unit sales. Beginning inventory in January was 9,800 practice soccer balls and 1,380 match soccer balls. Every practice ball requires 0.7 square yard of polyvinyl chloride panels, one bladder with valve (to fill with air), and 2…Scholar Suppliers manufactures backpacks for students. The backpacks come in two sizes: Small, and Large. Scholar Suppliers anticipates the following sales volumes and prices for the coming period: Size Sales Volume Selling Price Small 3,000 backpacks $25 each Large 6,000 backpacks $75 each What is the budgeted level of revenue for the coming period?
- LearnCo PARAGRAPH IS FOR ASSISTANCE TO HELP WITH THE QUESTIONS IN THE IMAGES ONLY WANT THE IMAGES ANWSERED LearnCo manufactures and sells one product, an abacus for classroom use, with two models, the Basic model and the Deluxe model. The company began operations on January 1, 20Y1, and is planning for 20Y2, its second year of operations, by preparing budgets from its master budget. The company is trying to decide how many units to manufacture, how much it might spend on direct materials and direct labor, and what their factory overhead expenses might be. In addition, the company is interested in budgeting for selling and administrative costs, and in creating a budgeted income statement showing a prediction of net income for 20Y2. You have been asked to assist the controller of LearnCo in preparing the 20Y2 budgets. Sales Budget The sales budget often uses the prior year’s sales as a starting point, and then sales quantities are revised for various factors such as planned advertising…Audio-2-Go, Inc., manufactures MP3 players. Models A-1, A-2, and A-3 are small and light. They are attached to armbands and use flash memory. Models A-4 and A-5 are somewhat larger and use a built-in hard drive; they can be put into fanny packs for use while working out. It is now early January, and Audio-2-Gos budgeting team is finalizing the sales budget for this year. Sales in units and dollars for last year were as follows: In looking over last years sales figures, Audio-2-Gos sales budgeting team recalled the following: a. Model A-1 costs were rising faster than the price could rise. Preparatory to phasing out this model, Audio-2-Go, Inc., planned to slash advertising for this model and raise its price by 30 percent. The number of units of Model A-1 to be sold was forecast to be 50 percent of last years units. b. Model A-5 was introduced on November 1 of last year. It contains a built-in 20 GB hard drive and can be synchronized with several popular music software programs. Audio-2-Go brought out this model to match competitors audio players, but the price is so much higher than other Audio-2-Go products, that sales have been disappointing. The company plans to discontinue this model on June 30 of this year, and thinks that monthly sales will remain at last years level if the sales price remains unchanged. c. Audio-2-Go plans to introduce Model A-6 on July 1 of this year. It will be a high-end player that will be lighter and more versatile than Model A-5 (which it will replace). The target price for this model is 180; unit sales are estimated to equal 2,500 per month. d. A competitor has announced plans to introduce an improved version of Model A-3. Audio-2-Go believes that theModelA-3 price must be cut 20 percent to maintain unit sales at last years level. e. It was assumed that unit sales of all other models would increase by 10 percent, prices remaining constant. Required: Prepare a sales forecast by product and in total for Audio-2-Go, Inc., for this year.FlashKick Company manufactures and sells soccer balls for teams of children in elementary and high school. FlashKick’s best-selling lines are the practice ball line (durable soccer balls for training and practice) and the match ball line (high-performance soccer balls used in games). In the first four months of next year, FlashKick expects to sell the following: Practice Balls Match Balls Units Selling Price Units Selling Price January 47,000 $8.85 6,300 $17.90 February 56,000 $8.85 8,400 $17.90 March 81,000 $8.85 13,500 $17.90 April 115,000 $8.85 17,500 $17.90 FlashKick requires ending inventory of product to equal 20 percent of the next month’s unit sales. Beginning inventory in January was 9,400 practice soccer balls and 1,260 match soccer balls. Every practice ball requires 0.5 square yard of polyvinyl chloride panels, one bladder with valve (to fill with air), and 2 ounces of glue. FlashKick’s policy is that 20 percent of the…
- < Direct Materials Purchases Budget FlashKick Company manufactures and sells soccer balls for teams of children in elementary and high school. Flash Kick's best-selling lines are the practice ball line (durable soccer balls for training and practice) and the match ball line (high-performance soccer balls used in games). In the first four months of next year, FlashKick expects to sell the following: Practice Balls Match Balls Units Selling Price Units Selling Price January 50,000 $8.75 7,000 $16.00 February 58,000 $8.75 7,500 $16.00 March 80,000 $8.75 April 100,000 $8.75 13,000 18,000 $16.00 $16.00 Every practice ball requires 0.7 square yard of polyvinyl chloride panels, one bladder with valve (to fill with air), and 3 ounces of glue. Flash Kick's policy is that 20 percent of the following month's production needs for raw materials be in ending inventory. Beginning inventory in January for all raw materials met this requirement. Required: Construct a direct materials purchases budget…Direct Materials Purchases Budget FlashKick Company manufactures and sells soccer balls for teams of children in elementary and high school. Flash Kick's best-selling lines are the practice ball line (durable soccer balls for training and practice) and the match ball line (high-performance soccer balls used in games). In the first four months of next year, FlashKick expects to sell the following: Practice Balls Match Balls Units Selling Price Units Selling Price January 50,000 $8.75 7,000 $16.00 February 58,000 $8.75 7,500 $16.00 March 80,000 April 100,000 $8.75 $8.75 13,000 18,000 $16.00 $16.00 Every practice ball requires 0.7 square yard of polyvinyl chloride panels, one bladder with valve (to fill with air), and 3 ounces of glue. FlashKick's policy is that 20 percent of the following month's production needs forDirect Materials Purchases Budget FlashKick Company manufactures and sells soccer balls for teams of children in elementary and high school. FlashKick’s best-selling lines are the practice ball line (durable soccer balls for training and practice) and the match ball line (high-performance soccer balls used in games). In the first four months of next year, FlashKick expects to sell the following: Practice Balls Match Balls Units Selling Price Units Selling Price January 48,000 $8.75 6,100 $16.50 February 62,000 $8.75 7,800 $16.50 March 87,000 $8.75 13,000 $16.50 April 100,000 $8.75 16,000 $16.50 FlashKick requires ending inventory of product to equal 20 percent of the next month’s unit sales. Beginning inventory in January was 9,600 practice soccer balls and 1,220 match soccer balls. Every practice ball requires 0.6 square yard of polyvinyl chloride panels, one bladder with valve (to fill with air), and 3 ounces of glue. FlashKick’s…mart Strike Company manufactures and sells soccer balls for teams of children in elementary and high school. Smart Strike's best-selling lines are the practice ball line (durable soccer balls for training and practice) and the match ball line (high-performance soccer balls used in games). In the first four months of next year, Smart Strike expects to sell the following: Practice Balls Match Balls Units Selling Price Units Selling Price January 47,000 $8.60 6,600 $17.10 February 61,000 $8.60 7,700 $17.10 March 86,000 $8.60 13,500 $17.10 April 105,000 $8.60 17,000 $17.10 Smart Strike requires ending inventory of product to equal 20 percent of the next month's unit sales. Beginning inventory in January was 9,400 practice soccer balls and 1,320 match soccer balls. Every practice ball requires 0.7 square yard of polyvinyl chloride panels, one bladder with valve (to fill with air), and 3 ounces of glue. Smart Strike's policy is that 20…Direct Materials Purchases Budget Smart Strike Company manufactures and sells soccer balls for teams of children in elementary and high school. Smart Strike's best-selling lines are the practice ball line (durable soccer balls for training and practice) and the match ball line (high-performance soccer balls used in games). In the first four months of next year, Smart Strike expects to sell the following: Practice Balls Match Balls Units Selling Price Units Selling Price January 48,000 $8.85 6,400 $17.20 February 58,000 $8.85 7,500 $17.20 March 86,000 $8.85 13,000 $17.20 April 105,000 $8.85 17,000 $17.20 Smart Strike requires ending inventory of product to equal 20 percent of the next month's unit sales. Beginning inventory in January was 9,600 practice soccer balls and 1,280 match soccer balls. Every practice ball requires 0.7 square yard of polyvinyl chloride panels, one bladder with valve (to fill with air), and 2 ounces of glue.…Smart Strike Company manufactures and sells soccer balls for teams of children in elementary and high school. Smart Strike's best-selling lines are the practice ball line (durable soccer balls for training and practice) and the match ball line (high-performance soccer balls used in games). In the first four months of next year, Smart Strike expects to sell the following: Practice Balls Match Balls Units Selling Price Units Selling Price January 48,000 $8.85 6,400 $17.20 February 58,000 $8.85 7,500 $17.20 March 86,000 $8.85 13,000 $17.20 April 105,000 $8.85 17,000 $17.20 Smart Strike requires ending inventory of product to equal 20 percent of the next month's unit sales. Beginning inventory in January was 9,600 practice soccer balls and 1,280 match soccer balls. Every practice ball requires 0.7 square yard of polyvinyl chloride panels, one bladder with valve (to fill with air), and 2 ounces of glue. Smart Strike's policy is that 20…SEE MORE QUESTIONS