Skiles Corp is preparing a production budget and has budgeted sales in units as follows:April:May:7,100 units10,600 unitsEnding inventory on March 31 was 800 units and management would like ending inventory in April to be 1,060. What is the required production for April?7,360 units7,100 units8,160 units6,300 units

Given data : Ending Inventory of March was 800 units. Ending Inventory of April is needed to be 1060…

Answered: Skiles Corp is preparing a production…

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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Down Under Products, Limited, of Australia has budgeted sales of its popular boomerang for the next four months as follows: Unit Sales April 76,000 May 85,000 June 116,000 July 93,000 The company is now in the process of preparing a production budget for the second quarter. Past experience has shown that end-of-month inventory levels must equal 15% of the following month’s unit sales. The inventory at the end of March was 11,400 units. Required: Prepare a production budget by month and in total, for the second quarter.
How do I prepare the selling and administrative expense budget for the quarter ended March 31, 20X1?
Down Under Products, Limited, of Australia has budgeted sales of its popular boomerang for the next four months as follows: Unit Sales April 74,000 May 85,000 June 114,000 July 92,000 The company is now in the process of preparing a production budget for the second quarter. Past experience has shown that end-of-month inventory levels must equal 10% of the following month’s unit sales. The inventory at the end of March was 7,400 units. Required: Prepare a production budget by month and in total, for the second quarter.
Neon Inc. has a finished goods inventory of 20,000 units on July 1. The projected sales for July, August and September are 80,000 units, 90,000 units and 100,000 units, respectively. Its desired ending inventory is estimated as 20% of the current month’s budgeted sales. Determine the budgeted production for July. Group of answer choices 116,000 units 16,000 units 96,000 units 76,000 units
FRANCORP is preparing budgets for the quarter ending March 31. Budgeted sales for the next 5 months are as follows: January February March 16250 units 16950 units 17200 units 18350 units 17900 units April May The selling price per unit is $15. Determine the total budgeted sales for the entire quarter ending March 31st. O $756,000 O $815,000 O $850,350 O $750,550
If the budgeted production for April is 94,000 units, how much should be the budgeted factory supplies be?
Frolic Corporation has budgeted sales and production over the next quarter as follows: September ? 61,150 Sales in units Production in units Multiple Choice 68,750 The company has 4,900 units of product on hand at July 1. 10% of the next month's sales in units should be on hand at the end of each month. October sales are expected to be 76,000 units. Budgeted sales for September would be (in units): 59,500 July 44,500 45,250 66,800 August 56,500 56,800
Down Under Products, Limited of Australia has budgeted sales of its popular boomerang for the next four months as follows: April May June Unit Sales 88, 000 90, 000 128, 000 99, 000 July The company is now in the process of preparing a production budget for the second quarter, Past experience has shown that end-of-month inventory levels must equal 15% of the following month's unit sales. The inventory at the end of March was 13,200 units. Required: Prepare a production budget by month and in total, for the second quarter. Down Under Products, Limited Production Budget April May June Quarter Budgeted unit sales Total needs Required production in units
ABC Company's budgeted sales for June, July, and August are 13,800, 17,800, and 15,400 units, respectively. ABC requires 40% of the next month's budgeted unit sales as finished goods inventory each month. Budgeted ending finished goods inventory for May is 5,520 units. Required: Calculate the number of units to be produced in June and July. Number of units June July
Zoom Pte Ltd has prepared the following budget for the next three months: January February March Sales in units 16,000 21,000 20,000 Production in units 17,000 19,000 18,000 One kg of material is required for each finished unit. The inventory of materials at the end of each month should equal 20% of the following month's production needs. Purchases of raw materials for February would be budgeted to be: Question 18 options: 1) 19,000 kg 2) 19,200 kg 3) 23,000 kg 4) 18,800 kg
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