Required: Prepare Shadee's May and June purchases budget for the adjustable poles.
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Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
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- Ottis, Inc., uses 640,000 plastic housing units each year in its production of paper shredders. The cost of placing an order is 30. The cost of holding one unit of inventory for one year is 15.00. Currently, Ottis places 160 orders of 4,000 plastic housing units per year. Required: 1. Compute the annual ordering cost. 2. Compute the annual carrying cost. 3. Compute the cost of Ottiss current inventory policy. Is this the minimum cost? Why or why not?Required information [The following information applies to the questions displayed below.] Shadee Corporation expects to sell 620 sun shades in May and 410 in June. Each shade sells for $160. Shadee's beginning and ending finished goods inventories for May are 65 and 55 shades, respectively. Ending finished goods inventory for June will be 65 shades. 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 130 in direct materials inventory on May 1, 80 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 $14 per hour. Additionally, Shadee's fixed manufacturing overhead is $8,000 per month, and variable manufacturing overhead is $15 per unit produced. Additional information: • Selling costs are expected to be 8 percent of sales. • Fixed administrative expenses per month total $1,500. Required: Prepare…Required information [The following information applies to the questions displayed below.] Shadee Corporation expects to sell 560 sun shades in May and 300 in June. Each shade sells for $127. Shadee's beginning and ending finished goods inventories for May are 70 and 40 shades, respectively. Ending finished goods inventory for June will be 55 shades. Each shade requires a total of $45.00 in direct materials that includes 4 adjustable poles that cost $5.00 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. Suppose that each shade takes three direct labor hour to produce and Shadee pays its workers $12 per hour. Additionally, Shadee's fixed manufacturing overhead is $9,000 per month, and variable manufacturing overhead is $11 per unit produced. Additional information: • Selling costs are expected to be 11 percent of sales. • Fixed administrative expenses per month total $1,200. Required: Prepare…
- Required information [The following information applies to the questions displayed below.] Shadee Corporation expects to sell 500 sun shades in May and 370 in June. Each shade sells for $154. Shadee's beginning and ending finished goods inventories for May are 80 and 45 shades, respectively. Ending finished goods inventory for June will be 65 shades. 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, 100 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 $12,000 per month, and variable manufacturing overhead is $11 per unit produced. Additional information:: . Selling costs are expected to be 12 percent of sales. • Fixed administrative expenses per month total $1,500. Required:…Required information [The following information applies to the questions displayed below.] Shadee Corporation expects to sell 610 sun shades in May and 380 in June. Each shade sells for $161. Shadee's beginning and ending finished goods inventories for May are 80 and 45 shades, respectively. Ending finished goods inventory for June will be 55 shades. 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 110 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 $11,000 per month, and variable manufacturing overhead is $12 per unit produced. Additional information: • • Selling costs are expected to be 12 percent of sales. • Fixed administrative expenses per month total $1,300. Required:…Required information [The following information applies to the questions displayed below.] Shadee Corporation expects to sell 600 sun shades in May and 800 in June. Each shade sells for $180. Shadee's beginning and ending finished goods inventories for May are 75 and 50 shades, respectively. Ending finished goods Inventory for June will be 60 shades. Each shade requires a total of $40 in direct materials that includes 4 adjustable poles that cost $5.00 each. Shadee expects to have 120 poles in direct materials inventory on May 1, 80 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 $9 per hour. Additionally, Shadee's fixed manufacturing overhead is $10,000 per month, and variable manufacturing overhead is $13 per unit produced. Additional information: . Selling costs are expected to be 6 percent of sales. • Fixed administrative expenses per month total $12,000. Required:…
- Required information [The following information applies to the questions displayed below.] Shadee Corporation expects to sell 560 sun shades in May and 330 in June. Each shade sells for $151. Shadee's beginning and ending finished goods inventories for May are 80 and 50 shades, respectively. Ending finished goods inventory for June will be 70 shades. Each shade requires a total of $55.00 in direct materials that includes 4 adjustable poles that cost $10.00 each. Shadee expects to have 130 in direct materials inventory on May 1, 100 poles in inventory on May 31, and 110 poles in inventory on June 30. Required: Prepare Shadee's May and June purchases budget for the adjustable poles. \table[[,,,June],[Budgeted Cost of Poles Purchased,$,400,400]]! Required information [The following information applies to the questions displayed below] Shadee Corporation expects to sell 620 sun shades in May and 390 in June. Each shade sells for $155. Shadee's beginning and ending finished goods inventories for May are 75 and 60 shades, respectively. Ending finished goods inventory for June will be 50 shades. Each shade requires a total of $55.00 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 110 poles in inventory on June 30. Required: Prepare Shadee's May and June purchases budget for the adjustable poles. Answer is complete but not entirely correct. May June Budgeted Cost of Poles Purchased $ 2,875 S 7,700! Required information [The following information applies to the questions displayed below.] Shadee Corporation expects to sell 500 sun shades in May and 300 in June. Each shade sells for $154. Shadee's beginning and ending finished goods inventories for May are 85 and 45 shades, respectively. Ending finished goods inventory for June will be 65 shades. Each shade requires a total of $60.00 in direct materials that includes 4 adjustable poles that cost $10.00 each. Shadee expects to have 120 in direct materials inventory on May 1, 100 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 Closures Purchased May 4,600 $ June 3,200
- [The following information applies to the questions displayed below.] Shadee Corporation expects to sell 610 sun shades in May and 430 in June. Each shade sells for $151. Shadee's beginning and ending finished goods inventories for May are 80 and 45 shades, respectively. Ending finished goods inventory for June will be 60 shades. Each shade requires a total of $55.00 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 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 $9,000 per month, and variable manufacturing overhead is $14 per unit produced. Additional information: • Selling costs are expected to be 8 percent of sales. • Fixed administrative expenses per month total $1,200. Required: Prepare Shadee's budgeted…! Required Information [The following information applies to the questions displayed below.] Shadee Corporation expects to sell 570 sun shades in May and 330 in June. Each shade sells for $170. Shadee's beginning and ending finished goods inventories for May are 75 and 40 shades, respectively. Ending finished goods Inventory for June will be 70 shades. 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 130 in direct materials Inventory on May 1, 80 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 $15 per hour. Additionally, Shadee's fixed manufacturing overhead is $12,000 per month, and variable manufacturing overhead is $14 per unit produced. Use the information and solutions presented to complete the requirements. Required: 1. Determine Shadee's budgeted manufacturing cost per shade.…[The following information applies to the questions displayed below.] Shadee Corporation expects to sell 600 sun shades in May and 350 in June. Each shade sells for $158. Shadee's beginning and ending finished goods inventories for May are 65 and 55 shades, respectively. Ending finished goods inventory for June will be 55 shades. Each shade requires a total of $65.00 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