Required information SB Exercise E8-5 to E8-10 [The following information applies to the questions displayed below.] Shadee Corporation expects to sell 600 sun shades in May and 380 in June. Each shade sells for $143. Shadee's beginning and ending finished goods inventories for May are 70 and 45 shades, respectively. Ending finished goods inventory for June will be 60 shades. E8-6 (Algo) Preparing Direct Materials Purchases Budget [LO 8-3c, e] Each shade requires a total of $50.00 in direct materials that includes 4 adjustable poles that cost $10.00 each. Shadee expects to have 130 in direct materials inventory on May 1, 90 poles in inventory on May 31, and 110 poles in inventory on June 30. Required: Prepare Shadee's May and June purchases budget for the adjustable poles. Budgeted Cost of Closures Purchased May June

Required information SB Exercise E8-5 to E8-10 [The following information applies to the questions displayed below.] Shadee Corporation expects to sell 600 sun shades in May and 380 in June. Each shade sells for $143. Shadee's beginning and ending finished goods inventories for May are 70 and 45 shades, respectively. Ending finished goods inventory for June will be 60 shades. E8-6 (Algo) Preparing Direct Materials Purchases Budget [LO 8-3c, e] Each shade requires a total of $50.00 in direct materials that includes 4 adjustable poles that cost $10.00 each. Shadee expects to have 130 in direct materials inventory on May 1, 90 poles in inventory on May 31, and 110 poles in inventory on June 30. Required: Prepare Shadee's May and June purchases budget for the adjustable poles. Budgeted Cost of Closures Purchased May June

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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Gadubhai
Direct Materials Purchases Budget Anticipated sales for Safety Grip Company were 58,000 passenger car tires and 17,000 truck tires. Rubber and steel belts are used in producing passenger car and truck tires as follows: Passenger Car Truck Rubber 29 Ibs. per unit 68 Ibs. per unit Steel belts 7 Ibs. per unit 18 Ibs. per unit The purchase prices of rubber and steel are $3.10 and $4.10 per pound, respectively. The desired ending inventories of rubber and steel belts are 55,000 and 11,000 pounds, respectively. The estimated beginning inventories for rubber and steel belts are 64,000 and 9,000 pounds, respectively. Prepare a direct materials purchases budget for Safety Grip Company for the year ended December 31, 20Y9. Safety Grip Company Direct Materials Purchases Budget For the Year Ending December 31, 20Y9 Rubber Steel Belts Total Pounds required for production: Passenger tires 1,682,000 V Ibs. 3,944,000 X Ibs. Truck tires 119,000 X 306,000 Desired inventory, December 31, 20Y9 V 55,000 V…
Required information SB Exercise E8-5 to E8-10 [The following information applies to the questions displayed below] Shadee Corporation expects to sell 540 sun shades in May and 350 in June. Each shade sells for $161. Shadee's beginning and ending finished goods inventories for May are 70 and 45 shades, respectively. Ending finished goods inventory for June will be 60 shades. E8-8 (Algo) Preparing Cost of Goods Sold Budget [LO 8-31] Each shade requires a total of $60.00 in direct materials that includes 4 adjustable poles that cost $5.00 each. Shadee expects to have 120 in direct materials inventory on May 1, 90 poles in inventory on May 31, and 100 poles in inventory on June 30. Suppose that each shade takes three direct labor hour to produce and Shadee pays its workers $14 per hour. Additionally, Shadee's fixed manufacturing overhead is $9,000 per month, and variable manufacturing overhead is $11 per unit produced. Use the information and solutions presented to complete the…
Required information SB Exercise E8-5 to E8-10 [The following information applies to the questions displayed below.] Shadee Corporation expects to sell 560 sun shades in May and 350 in June. Each shade sells for $142. Shadee's beginning and ending finished goods inventories for May are 70 and 50 shades, respectively. Ending finished goods inventory for June will be 55 shades. E8-10 (Algo) Preparing Budgeted Income Statement [LO 8-3h] Each shade requires a total of $50.00 in direct materials that includes 4 adjustable poles that cost $5.00 each. Shadee expects to have 120 in direct materials inventory on May 1, 100 poles in inventory on May 31, and 110 poles in inventory on June 30. Suppose that each shade takes three direct labor hour to produce and Shadee pays its workers $13 per hour. Additionally, Shadee's fixed manufacturing overhead is $10,000 per month, and variable manufacturing overhead is $15 per unit produced. Additional information: . Selling costs are expected to be 10…
< 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…
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Vinubhai
Required information SB Exercise E8-5 to E8-10 [The following information applies to the questions displayed below.] Shadee Corporation expects to sell 540 sun shades in May and 320 in June. Each shade sells for $138. Shadee's beginning and ending finished goods inventories for May are 60 and 55 shades, respectively. Ending finished goods inventory for June will be 70 shades. E8-6 (Algo) Preparing Direct Materials Purchases Budget [LO 8-3c, e] Each shade requires a total of $50.00 in direct materials that includes 4 adjustable poles that cost $5.00 each. Shadee expects t have 120 in direct materials inventory on May 1, 90 poles in inventory on May 31, and 110 poles in inventory on June 30. Required: Prepare Shadee's May and June purchases budget for the adjustable poles. Budgeted Cost of Poles Purchased May June
Please do not give solution in image format thanku
Required information SB Exercise E8-5 to E8-10 [The following information applies to the questions displayed below.] Shadee Corporation expects to sell 560 sun shades in May and 320 in June. Each shade sells for $163. Shadee's beginning and ending finished goods inventories for May are 65 and 55 shades, respectively. Ending finished goods inventory for June will be 50 shades. E8-6 (Algo) Preparing Direct Materials Purchases Budget [LO 8-3c, e] Each shade requires a total of $65.00 in direct materials that includes 4 adjustable poles that cost $5.00 each. Shadee expects to have 120 in direct materials inventory on May 1, 90 poles in inventory on May 31, and 120 poles in inventory on June 30. Required: Prepare Shadee's May and June purchases budget for the adjustable poles. Budgeted Cost of Poles Purchased May June
Problem 2. Turi Corp plans to produce 20,000, 24,000, and 30,000 units, respectively, in September, October, and November. Each of these units requires three units of part no. 879, which the company can purchase for US$7 each. Turi has 35,000 units of part no. 879 in stock on August 31. Required: Prepare a direct-material purchases budget for the months of September and October. Desired ending inventory is 30% of the production usage in the following month.