What will the raw material purchases be in June? Next month's budgeted sales for TMP is 18,000 units. Each unit of product TMPuses 6 kilograms of raw materials. The production and inventory budgets for June2021 are as follows:Opening Inventory21,000 kgs.15,000 unitsPlanned Ending Inventory24,400 kgs.11,400 unitsRaw materialsFinished goodsDuring the production process, it is usually found that 10% of production units arescrapped as defective and this loss occurs after the raw materials have been placedin process.

Working note: Computation of kg of raw material issued for production:

Answered: Next month's budgeted sales for TMP is…

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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Budget Preparation Collins Company is preparing its master budget for April. Use the given estimates to determine the amounts necessary for each of the following requirements. (Estimates may be related to more than one requirement.) a. What should total sales revenue be if territories A and B estimate sales of 10,000 and 13,000 units, respectively, and the unit selling price is $43? $ b. If the beginning finished goods inventory is an estimated 2,000 units and the desired ending inventory is 3,000 units, how many units should be produced? c. What dollar amount of material should be purchased at $4 per pound if each unit of product requires 3 pounds and beginning and ending materials inventories should be 5,000 and 4,000 pounds, respectively? $ d. How much direct labor cost should be incurred if each unit produced requires 1.5 hours at an hourly rate of $14? e. How much manufacturing overhead should be incurred if fixed manufacturing overhead is $52,000 and variable manufacturing…
If there were 40000 pounds of direct materials on hand on January 1, 120000 pounds are desired for inventory at January 31, and 560000 pounds are required for January production, how many pounds of direct materials should be purchased in January? a. 480000 pounds b. 680000 pounds c. 440000 pounds d. 640000 pounds
Prepare a production budget for January and February 2017.
Symphony Electronics produces wireless speakers for outdoor use on patios, decks, etc. Their most popular model is the All Weather and requires four separate XL12 components per unit. The company is now planning raw material needs for the second quarter. Sales of the All Weather are the highest in the second quarter of each year as customers prepare for the summer season. The company has the following inventory requirements: a. The finished goods inventory on hand at the end of each month must be equal to 16,400 units plus 10% of the next month's sales. The finished goods inventory on March 31 is budgeted to be 28,700 units. b. The raw materials inventory on hand at the end of each month must be equal to 20% of the following month's production needs for raw materials. The raw materials inventory on March 31 for XL 12 is budgeted to be 98,800 components. c. The company maintains no work in process inventories. A sales budget for the All Weather speaker is as follows: April May June July…
What is the cafeteria’s labor cost for June?
Complete this question by entering your answers in the tabs below. 4 Required 1 Required 2 Prepare a schedule of forecasted sales, on a rolling basis, for the months January through June, inclusive. (Hint: There will be only one forecasted number for January-this is the forecast done in December. For February, there will be two forecasts: one done in December and a second done in January. For June, there will be six forecasts, one done in each of the preceding six months.) Month of Forecast for Month of Forecast January February March April May June December January • February March April May Required 1 Required 2 >
5 please follow instructions and show work
Blue Wave Co. predicts the following unit sales for the coming four months: September, 3,300 units; October, 4,900 units; November, 6,700 units; and December, 7,900 units. The company's policy is to maintain finished goods inventory equal to 50% of the next month's sales. At the end of August, the company had 2,800 finished units on hand. Prepare a production budget for each of the months of September, October, and November. Blue Wave Co. Production Budget September, October and November September Next month's budgeted sales (units) Units to be produced % October % November %
Why does april get 10% and june 30%?
Thank you, the above answer has the November particulars instead of December though
Budget for a merchandising company Nano,inc.is preparing its budget for the second quarter . The following sales data have been forecasted: April. May. June. June July U/sales. 640. 720. 780. 620. 660 Additional information follows: inventory on March 31: 192 units Desired ending inventory each month: 30% of next month's sales. How many units should be produced in April, May and June? How many units should be produced in the second quarter in total? You can Write your answers on this sheet as an excel table or a pasted word documentable.

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