Exercise 20-3 (Algo) Manufacturing: Production budget LO P1Rutz Company provides the following budgeted sales for the next four months. The company wants to end each month with endingfinished goods inventory equal to 30% of next month's budgeted unit sales. Finished goods inventory on April 1 is 180 units. Prepare aproduction budget for the months of April, May, and June.Budgeted sales unitsNext period budgeted sales unitsRatio of inventory to future salesTotal required unitsApril600Units to produceMay680RUIZ COMPANYProduction BudgetAprilJune63060030%July720May63030%June72030%

SALES BUDGET Sales Budget is the quantitative & Financial statement of Sales, Prepared prior to…

Answered: Exercise 20-3 (Algo) Manufacturing:…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Exercise 6 (Selling and Administrative Budget) The budgeted unit sales of Helene Company for the upcoming fiscal year are provided below: 1stquarter 2ndquarter 3rd quarter 4th quarter Budgeted unitsales.. 12,000 14,000 11,000 10,000 The company's variable selling and administrative expenses per unit are P2.75. Fixed selling and administrative expenses include advertising expenses of P12,000 per quarter, executive salaries of P40,000 per quarter, and depreciation of P16,000 per quarter. In addition, the company will make insurance payments of P6,000 in the 2nd Quarter and P6,000 in the 4thQuarter. Finally, property taxes of P6,000 will be paid in the 3rd Quarter. Required: Prepare the company's selling and administrative expense budget for the upcoming fiscal year.
Question Content Area Operating Budget, Comprehensive Analysis Ponderosa, Inc., produces wiring harness assemblies used in the production of semi-trailer trucks. The wiring harness assemblies are sold to various truck manufacturers around the world. Projected sales in units for the coming five months are given below. January 10,000 February 10,600 March 13,500 April 16,000 May 18,500 The following data pertain to production policies and manufacturing specifications followed by Ponderosa: Finished goods inventory on January 1 is 900 units. The desired ending inventory for each month is 20 percent of the next month’s sales. The data on materials used are as follows: Direct Material Per-Unit Usage Unit Cost Part #K298 2 $4 Part #C30 3 7 Inventory policy dictates that sufficient materials be on hand at the beginning of the month to satisfy 30 percent of the next month’s production needs. This is exactly the amount of…
D Question 5 Witherspoon Inc. has compiled the following data in order to put together their first quarter operating budget for 20XX Sales (units) January 55,200 February 48,000 March 41,000 Apri 37,000 Additional information: Witherspoon sells each unit for $95. Company policy is to have 30% of next month's sales (in units) in ending finished goods inventory. This policy was met in December. Required: 1. What are the total dollar sales for the quarter? Hint: writo out I sales budget but you do not need to show in your answer. 2. (a) What is the desired ending Inventory for February? (b) What are the Total Units to be Produced for the Quarter? Hint: write out a production budget but you do not need to show in your answer.
Production Budget
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Question 7 Landon Inc. projected sales of 31,000 personal journals for 20Y6. The estimated January 1, 20Y6, inventory is 2,200 units, and the desired December 31, 20Y6, inventory is 3,000 units. What is the budgeted production (in units) for 20Y6?fill in the blank 1 units
Question 10 Cash Budget Daybook Inc. collects 30% of its sales on account in the month of the sale and 70% in the month following the sale. If sales on account are budgeted to be $105,000 for September and $116,000 for October, what are the budgeted cash receipts from sales on account for October?
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20-24 i Ruiz Company provides the following budgeted sales for the next four months. The company wants to end each month with ending finished goods inventory equal to 30% of next month's budgeted unit sales. Finished goods inventory on April 1 is 201 units. Prepare a production budget for the months of April, May, and June. с raw ill Budgeted sales units. Next period budgeted sales units Ratio of inventory to future sales Total required units Units to produce April 670 FCYNE May 750 RUIZ COMPANY Production Budget April June 700 750 30% July 790 May 700 30% June 790 30% k -- Q Search < Prev 200
Production Budget
Production Budget Pasadena Candle Inc. projected sales of 47,000 candles for January. The estimated January 1 inventory is 3,300 units, and the desired January 31 inventory is 5,000 units. Prepare a production budget report in units for Pasadena Candle Inc. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Pasadena Candle Inc. Production Budget For the Month Ending January 31 Total units available ✩ = 0 Total units to be produced in January All work saved. Previous Next >
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