The Boswell Corporation forecasts its sales in units for the next four months as follows: March April May June 16,000 18,000 15,500 14,000 Boswell maintains an ending inventory for each month in the amount of three times the expected sales in the following month. The ending inventory for February (March's beginning inventory) reflects this policy. Materials cost $8 per unit and are paid for in the month after production. Labour cost is $12 per unit and is paid for in the month incurred. Fixed overhead is $17,000 per month. Dividends of $21,000 are to be paid in May. Fifteen thousand units were produced in February. a. Complete a production schedule for March, April, and May. (Enter all values as positive value.) Boswell Corporation Production Schedule Forecasted unit sales Desired ending inventory Beginning inventory Units to be produced March Units produced Materials Labour Fixed overhead Dividends b. Complete a summary of cash payments for March, April, and May. Boswell Corporation Cash Payments February April May March $ April $ June May S

The Boswell Corporation forecasts its sales in units for the next four months as follows: March April May June 16,000 18,000 15,500 14,000 Boswell maintains an ending inventory for each month in the amount of three times the expected sales in the following month. The ending inventory for February (March's beginning inventory) reflects this policy. Materials cost $8 per unit and are paid for in the month after production. Labour cost is $12 per unit and is paid for in the month incurred. Fixed overhead is $17,000 per month. Dividends of $21,000 are to be paid in May. Fifteen thousand units were produced in February. a. Complete a production schedule for March, April, and May. (Enter all values as positive value.) Boswell Corporation Production Schedule Forecasted unit sales Desired ending inventory Beginning inventory Units to be produced March Units produced Materials Labour Fixed overhead Dividends b. Complete a summary of cash payments for March, April, and May. Boswell Corporation Cash Payments February April May March $ April $ June May S

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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