For each independent situation below, determine the missing amounts: A B 13,000 19,000 Beginnning inventory Produced Available Sold Ending inventory 18,000 31,000 32,000 3,000 с 10,000 50,000 8,000 D 79,000 89,000 11,000
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- whats the inventory tracking for this? You will need to calculate your estimated COGS for the budget template tab using the Weighted Average method discussed in LO5-6Budgeting Inventories For each independent situation below, determine the missing amounts: A B C D Beginnning inventory 12,000 0 × 7,000 0 × Produced 40,000 27,000 0 × 56,000 Available 0 × 0 × 32,000 64,000 Sold 45,000 28,000 0 × 0 × Ending inventory 0 × 12,000 6,000 2,000Which one of the following is the equations is used in the production budget? Select one: a. Current period sale (in units) + Beginning inventory (in units) + Ending Inventory (Units) b. Current period sale (in units) + Beginning inventory (in units) - Ending Inventory (Units) c. Current period sale (in units) - Beginning inventory (in units) - Ending Inventory (Units) d. Current period sale (in units) - Beginning inventory (in units) + Ending Inventory (Units)
- Budgeting Inventories For each independent situation below, determine the missing amounts: A B C D Beginnning inventory 7,000 3,000 3,000 0 Produced 40,000 23,000 0 60,000 Available 55,000 26,000 26,000 68,000 Sold 45,000 32,000 I 0 0 Ending inventory 10,000 10,000 10,000 3,000 Previous Save AnswersBudgeting Inventories For each independent situation below, determine the missing amounts: A B D Beginnning inventory 7,000 3,000 Produced 40,000 23,000 60,000 Available 26,000 68,000 Sold 45,000 32,000 Ending inventory 10,000 10,000 3,000Which of the following appears on the budgeted balance sheet? * A. estimated sales B. estimated cost of goods sold C. estimated fixed selling expense D. estimated ending accounts receivable
- The balance in Materials Inventory on the Budgeted Balance Sheet is equal to: Select one: A. Materials Purchased during the period B. Materials Used during the period C. Budgeted Beginning Materials Inventory D. A minus B E. None of the above7.3 Shown below are the totals from 2018 period budgets. Revenue budget Materials usage from production budget Labor cost budget Manufacturing overhead budget General and administrative budget Capital expenditure budget P100,000 15,000 20,000 20,000 30,000 20,000 32 How Work-in-Progress Inventories: Beginning of 2018 End of 2018 ndilet b rsM x) 1E valM 10,000 lsa 5,000 PLS Finished Goods Iventory: Beginning of 2018 End of 2018 Pla 15,000 10,000 Tax Rate 40% hen dees20 oldibsllonU Instructions: nongt od Prepare a forecasted Income Statement for the year. bas sldigilgonSales Revenue Cost of Goods Sold Income from Operations Selling and Administrative Expenses Budgeted Income Statement For the Year Ending December 31, 2022 Income from Operations Interest Expense Income before Income Taxes Interest Expense Not Income (Loss) $ 326,400 (166,380) i 160,020 88,500 i 71,520 (4,130 67,390 (13,478 53912
- 8.Which of the following would appear on both the budgeted income statement and on the schedule of expected cash disbursements for operating expenses? (A) Depreciation expense (B) Rent expense (C) Sales commission expense (D) Both B and C 9.Which of the following is not an underlying assumption of the cost-volume-profit graph? (A) Expenses are categorized into fixed and variable (B) Revenues and expenses are linear over the relevant range (C) Efficiency and productivity will be unchanged (D) Sales mix will not be constant If total fixed costs decrease while the sale price per unit and the variable costs per unit remain constant, the: (A) contribution margin increases (B) contribution margin decreases (C) breakeven point increases (D) breakeven point decreases A business always absorbs its overheads on labour hours. In the 8th period 18,000 hours were worked, actual overheads were $279,000 and there was$36,000 over-absorption. The overhead absorption rate per hour was: (A)…Income Statement Prepare the budgeted income statement. Cash Flows Balance Sheet Budgeted Income Statement Sales revenue Cost of goods sold Depreciation expense Operating income Interest expense Net income $ 372,000 X (336,000) X (4,000) 32,000 X (840) X $ 31,160How do we end up with the Ending Inventory of $69112 on the budgeted balance sheet?