Direct materials purchases budget Tobin's Frozen Pizza Inc. has determined from its production budget the following estimated production volumes for 12" and 16" frozen pizzas for November: Budgeted production volume Units 12" Pizza Units 16" Pizza 13,200 22,800 There are three direct materials used in producing the two types of pizza. The quantities of direct materials expected to be used for each pizza are as follows: Direct materials: Dough Tomato Cheese 12" Pizza 16" Pizza 0.90 lb. per unit 1.50 lb. per unit 0.60 1.00 0.80 1.30 In addition, Tobin's has determined the following information about each material: Dough Tomato Cheese Estimated inventory, November 1 570 lbs. 160 lbs. 310 lbs. Desired inventory, November 30 Price per pound 600 lbs. $1.40 160 lbs. 340 lbs. $2.80 $3.10 Prepare November's direct materials purchases budget for Tobin's Frozen Pizza Inc. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Tobin's Frozen Pizza Inc. Direct Materials Purchases Budget For the Month Ending November 30

Direct materials purchases budget Tobin's Frozen Pizza Inc. has determined from its production budget the following estimated production volumes for 12" and 16" frozen pizzas for November: Budgeted production volume Units 12" Pizza Units 16" Pizza 13,200 22,800 There are three direct materials used in producing the two types of pizza. The quantities of direct materials expected to be used for each pizza are as follows: Direct materials: Dough Tomato Cheese 12" Pizza 16" Pizza 0.90 lb. per unit 1.50 lb. per unit 0.60 1.00 0.80 1.30 In addition, Tobin's has determined the following information about each material: Dough Tomato Cheese Estimated inventory, November 1 570 lbs. 160 lbs. 310 lbs. Desired inventory, November 30 Price per pound 600 lbs. $1.40 160 lbs. 340 lbs. $2.80 $3.10 Prepare November's direct materials purchases budget for Tobin's Frozen Pizza Inc. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Tobin's Frozen Pizza Inc. Direct Materials Purchases Budget For the Month Ending November 30

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter8: Budgeting

Section: Chapter Questions

Problem 9E

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Tobin's Frozen Pizza Inc. has determined from its production budget the following estimated production volumes for 12" and 16" frozen pizzas for November: Units 12" Pizza 16" Pizza Budgeted production volume 13,600 26,800 There are three direct materials used in producing the two types of pizza. The quantities of direct materials expected to be used for each pizza are as follows: 12" Pizza 16" Pizza Direct materials: Dough 0.90 lb. per unit 1.50 Ibs. per unit Tomato 0.60 1.00 Cheese 0.80 1.30 In addition, Tobin's has determined the following information about each material: Dough Tomato Cheese Estimated inventory, November 1 580 Ibs. 160 Ibs. 290 Ibs. Desired inventory, November 30 610 Ibs. 160 Ibs. 320 Ibs. Price per pound $1.10 $2.60 $3.30 Prepare November's direct materials purchases budget for Tobin's Frozen Pizza Inc. For those boxes in which you must enter subtracted or negative numbers use a minus sign.
Lorenzo’s Frozen Pizza Inc. has determined from its production budget the following estimated production volumes for 12" and 16" frozen pizzas for September: Units 12" Pizza 16" Pizza Budgeted production volume 12,500 21,800 Three direct materials are used in producing the two types of pizza. The quantities of direct materials expected to be used for each pizza are as follows: 12" Pizza 16" Pizza Direct materials: Dough 0.80 lb. per unit 1.50 lb. per unit Tomato 0.50 0.70 Cheese 0.70 1.30 In addition, Lorenzo’s has determined the following information about each material: Dough Tomato Cheese Estimated inventory, September 1 490 lb. 230 lb. 275 lb. Desired inventory, September 30 580 lb. 185 lb. 340 lb. Price per pound $0.50 $2.20 $2.60 Prepare September’s direct materials purchases budget for Lorenzo’s Frozen Pizza Inc. When required, enter unit prices to the nearest cent. Lorenzo’s Frozen Pizza Inc. Direct Materials Purchases Budget For the Month…
Lorenzo’s Frozen Pizza Inc. has determined from its production budget the following estimated production volumes for 12'' and 16'' frozen pizzas for September: Units 12" Pizza 16" Pizza Budgeted production volume 12,600 24,700 Three direct materials are used in producing the two types of pizza. The quantities of direct materials expected to be used for each pizza are as follows: 12" Pizza 16" Pizza Direct materials: Dough 0.80 lb. per unit 1.50 lb. per unit Tomato 0.50 0.70 Cheese 0.70 1.30 In addition, Lorenzo’s has determined the following information about each material: Dough Tomato Cheese Estimated inventory, September 1 610 lb. 230 lb. 280 lb. Desired inventory, September 30 640 lb. 220 lb. 310 lb. Price per pound $1.40 $2.10 $3.30 Prepare September's direct materials purchases budget for Lorenzo’s Frozen Pizza Inc. When required, enter unit prices to the nearest cent. Lorenzo’s Frozen Pizza Inc.Direct…
Direct materials: Budgeted production volume There are three direct materials used in producing the two types of pizza. The quantities of direct materials expected to be used for each pizza are as follows: 12" Pizza 0.60 lb. per unit 0.30 Total 0.50 Estimated inventory, September 1 Desired inventory, September 30 Price per pound 12" Pizza Dough Tomato Cheese In addition, Zippy's has determined the following information about each material: Tomato Direct Materials: Units required for production: 12" pizza 16" pizza Units 16,300 Total units to be purchased Unit price Total direct materials to be purchased 16" Pizza 16" Pizza 1.00 lb. per unit 0.45 0.80 20,600 Dough 620 lbs. 650 lbs. $1.50 220 lbs. 210 lbs. Prepare September's direct materials purchases budget for Your Pie Inc. YOUR PIE INC. Direct Materials Purchases Budget For the Month Ending September 30 $2.60 Cheese 270 lbs. 300 lbs. $3.30 Dough Tomato Cheese Total
Lorenzo’s Frozen Pizza Inc. has determined from its production budget the following estimated production volumes for 12'' and 16'' frozen pizzas for September: Units 12" Pizza 16" Pizza Budgeted production volume 13,500 21,800 Three direct materials are used in producing the two types of pizza. The quantities of direct materials expected to be used for each pizza are as follows: 12" Pizza 16" Pizza Direct materials: Dough 0.80 lb. per unit 1.50 lb. per unit Tomato 0.50 0.70 Cheese 0.70 1.30 In addition, Lorenzo’s has determined the following information about each material: Dough Tomato Cheese Estimated inventory, September 1 620 lb. 200 lb. 280 lb. Desired inventory, September 30 650 lb. 190 lb. 310 lb. Price per pound $1.00 $2.20 $3.20 Prepare September's direct materials purchases budget for Lorenzo’s Frozen Pizza Inc. When required, enter unit prices to the nearest cent. Lorenzo’s Frozen Pizza Inc. Direct…
Tobin's Frozen Pizza Inc. has determined from its production budget the following estimated production volumes for 12" and 16" frozen pizzas for November: 16" Pizza Budgeted production volume 13,100 22,600 There are three direct materials used in producing the two types of pizza. The quantities of direct materials expected to be used for each pizza are as follows: 12" Pizza Direct materials: Units Estimated inventory, November 1 Desired inventory, November 30 Price per pound 12" Pizza Dough 0.90 lb. per unit Tomato 0.60 Cheese 0.80 In addition, Tobin's has determined the following information about each material: Cheese 1.50 lbs. per unit 1.00 1.30 Dough 16" Pizza 590 lbs. 620 lbs. $1.30 Tomato 190 lbs. 180 lbs. $2.70 330 lbs. 360 lbs. $3.40
Tobin's Frozen Pizza Inc. has determined from its production budget the following estimated production volumes for 12" and 16" frozen pizzas for November: Units 12" Pizza Units 16" Pizza Budgeted production volume 74,000 54,000 There are three direct materials used in producing the two types of pizza. The quantities of direct materials expected to be used for each pizza are as follows: Direct materials: 12" Pizza 16" Pizza Dough Tomato Cheese 0.55 lb. per unit 0.80 lb. per unit 0.25 0.70 0.40 1.20 In addition, Tobin's has determined the following information about each material: Estimated inventory, November 1 Desired inventory, November 30 Price per pound Dough Tomato Cheese $0.40 2,300 lbs. 1,100 lbs. 2,800 lbs. 2,200 lbs. 1,100 lbs. 2,800 lbs. $0.30 $0.65 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. Prepare November's direct materials purchases budget for…
Refer to Cornerstone Exercise 8.6. Required: 1. Calculate the total budgeted cost of units produced for Play-Disc for the coming year. Show the cost of direct materials, direct labor, and overhead. 2. Prepare a cost of goods sold budget for Play-Disc for the year. 3. What if the beginning inventory of finished goods was 75,200 (for 16,000 units)? How would that affect the cost of goods sold budget? (Assume Play-Disc uses the FIFO method.) Play-Disc makes Frisbee-type plastic discs. Each 12-inch diameter plastic disc has the following manufacturing costs: For the coming year, Play-Disc expects to make 300,000 plastic discs, and to sell 285,000 of them. Budgeted beginning inventory in units is 16,000 with unit cost of 4.75. (There are no beginning or ending inventories of work in process.) Required: 1. Prepare an ending finished goods inventory budget for Play-Disc for the coming year. 2. What if sales increased to 290,000 discs? How would that affect the ending finished goods inventory budget? Calculate the value of budgeted ending finished goods inventory.
For each unit of finished goods Surf Inc. needs 3 pounds of material. The production budget is shown below for the next 4 months: Description Month 1 Month 2 Month 3 Month 4 Production Budget in Units 14,000.00 15,000.00 16,000.00 12,000.00 Prepare the material purchases budget and show the total cost of material to purchase based on the following for Months 1-3 Beg Inv Month 1 8,800.00 pounds of material Cost per pound $4.75 Required Ending Inventory 12% of next months requirement Description Month 1 Month 2 Month 3
Tobin's Frozen Pizza Inc. has determined from its production budget the following estimated production volumes for 12" and 16" frozen pizzas for November: 12" Pizza 16" Pizza Budgeted production volume 58,000 38,000 There are three direct materials used in producing the two types of pizza. The quantities of direct materials expected to be used for each pizza are as follows: 12" Pizza Units Direct materials: Dough 0.55 lb. per unit Tomato 0.25 Cheese 0.70 In addition, Tobin's has determined the following information about each material: 16" Pizza Units required for production: 12" pizza 16" pizza Desired inventory, November 30 Total units available Estimated inventory, November 1 Total units to be purchased Unit price Total direct materials to be purchased 0.80 lbs. per unit 0.40 1.20 1,200 lbs. Estimated inventory, November 1 Desired inventory, November 30 Dough 2,800 lbs. 2,200 lbs. $0.30 1,300 lbs. Price per pound $0.40 This information has been collected in the Microsoft Excel…
(3) Tobin’s Frozen Pizza Inc. has determined from its production budget the following estimated production volumes for 12'' and 16'' frozen pizzas for November: Units 12" Pizza 16" Pizza Budgeted production volume 75,000 55,000 There are three direct materials used in producing the two types of pizza. The quantities of direct materials expected to be used for each pizza are as follows: 12" Pizza 16" Pizza Direct materials: Dough 0.55 lb. per unit 0.80 lbs. per unit Tomato 0.25 0.40 Cheese 0.70 1.20 In addition, Tobin’s has determined the following information about each material: Dough Tomato Cheese Estimated inventory, November 1 2,500 lbs. 1,100 lbs. 2,900 lbs. Desired inventory, November 30 1,900 lbs. 1,500 lbs. 2,700 lbs. Price per pound $0.60 $0.70 $0.95 Prepare November's direct materials purchases budget for Tobin’s Frozen Pizza Inc. For those boxes in which you must enter subtracted or negative numbers use a…
Tobin's Frozen Pizza Inc. has determined from its production budget the following estimated production volumes for 12" and 16" frozen pizzas for November: 12" Pizza 16" Pizza Budgeted production volume 58,000 38,000 There are three direct materials used in producing the two types of pizza. The quantities of direct materials expected to be used for each pizza are as follows: 12" Pizza Units Direct materials: Dough 0.55 lb. per unit Tomato 0.25 Cheese 0.70 In addition, Tobin's has determined the following information about each material: 16" Pizza Units required for production: 12" pizza 16" pizza Desired inventory, November 30 Total units available Estimated inventory, November 1 Total units to be purchased Unit price Total direct materials to be purchased 0.80 lbs. per unit 0.40 1.20 Estimated inventory, November 1 Desired inventory, November 30 Dough 2,800 lbs. 2,200 lbs. $0.30 1,200 lbs. 1,300 lbs. Cheese 3,100 lbs. 3,000 lbs. $0.65 Price per pound $0.40 This information has been…