The following information is from the manufacturing budget and budgeted financial statements of Altman Corporation : Direct materials inventory , 1/1 $ 89,000 Direct materials inventory , 12/31 $ 105,000 Direct materials budgeted for use during year $ 347,000 Accounts payable to suppliers , 1/1 $ 57,000 Accounts payable to suppliers , 12/ 31 $67,000 For the year, budgeted purchases of direct materials amounted

The following information is from the manufacturing budget and budgeted financial statements of Altman Corporation: Direct materials inventory, 1/1 Direct materials inventory, 12/31 Direct materials budgeted for use during year Accounts payable to suppliers, 1/1 Accounts payable to suppliers, 12/31 For the year, budgeted cash payments to suppliers amounted to: $ 86,000 $ 102,000 $ 344,000 $ 54,000 $ 64,000

The following data relate to a year's budgeted activity for Coronado Limited, a company that manufactures one product: Beginning inventory Production Available for sale Sales Ending inventory Units 40,480 (a) 141,680 Selling price Variable manufacturing costs Variable selling, general, and administrative expenses Fixed manufacturing costs (based on 100,000 units) Fixed selling, general, and administrative expenses (based on 100,000 units) 182,160 131,560 50,600 Break-even sales Per unit $9.00 units 2.00 3.00 Total fixed costs and expenses remain unchanged within the relevant range of 25,000 units to a total capacity of 160,000 units. 0.50 0.80 Calculate the projected annual break-even sales in units. (Round answer to O decimal places, e.g. 5,275.)

Relevant data from the Poster Company’s operating budgets are:   Quarter 1 Quarter 2 Sales $208,480 $211,540 Direct material purchases 115,300 120,832 Direct labor 75,205 73,298 Manufacturing overhead 25,300 25,400 Selling and administrative expenses 33,400 33,500 Depreciation included in selling and administrative 1,500 900 Collections from customers 215,392 240,154 Cash payments for purchases 114,290 119,254 Additional data:Capital assets were sold in January for $10,000 and $4,400 in May.Dividends of $4,600 were paid in February. The beginning cash balance was $60,360 and a required minimum cash balance is $59,000. Use this information to prepare a cash budget for the first two quarters of the year: If an amount box does not require an entry, leave it blank. The Poster CompanyCash BudgetFor the First Two Quarters   Quarter 1 Quarter 2   $Beginning Cash Balance $Beginning Cash Balance Add: Cash Receipts       Collections from Customers…

Consider Derek's budget information: materials to be used totals $62,400; direct labor totals $199,600; factory overhead totals $399,700; work in process inventory January 1 is $187,000; and work in progress inventory on December 31 is $194,000. The budgeted cost of goods manufactured for the year is a.$654,700 b.$661,700 c.$848,700 d.$194,000

The Meyers CPA firm has the following overhead budget for the year: Overhead Indirect materials Indirect labor Depreciation-Building Depreciation-Furniture Utilities Insurance Property taxes Other expenses Total $ 500,000 1,900,000 333,000 65,000 385,000 54,000 68,000 175,000 $ 3,480,000 The firm estimates total direct labor cost for the year to be $2,175,000. The firm uses direct labor cost as the cost driver to apply overhead to clients. During January, the firm worked for many clients; data for two of them follow: Gargus account Direct labor $ 4,500 Feller account Direct labor $ 10,500 Required: 1. Compute the firm's predetermined overhead rate. 2. Compute the amount of overhead to be charged to the Gargus and Feller accounts using the predetermined overhead rate calculated in requirement 1. 3. Compute total job cost for the Gargus account and the Feller account.

The following information pertains to Trenton Glass Works for the year just ended.Budgeted direct-labor cost: 75,000 hours (practical capacity) at $16 per hourActual direct-labor cost: 80,000 hours at $17.50 per hourBudgeted manufacturing overhead: $997,500Actual selling and administrative expenses: 433,000    Actual manufacturing overhead:       Depreciation $ 234,000   Property taxes   23,000   Indirect labor   80,000   Supervisory salaries   202,000   Utilities   58,000   Insurance   30,000   Rental of space   301,000   Indirect material (see data below)   79,000   Indirect material:       Beginning inventory, January 1   48,000   Purchases during the year   94,000   Ending inventory, December 31   63,000       2. Calculate the overapplied or underapplied overhead for the year. (Round your intermediate calculations to 2 decimal places.)

2 Arrangon Ltd. is a company that manufactures and sells a single product called Zoltar. For planning and control purposes they utilize a monthly master budget, which is developed in advance of the budget year. Their fiscal year end is September 30. A listing of the estimated ledger balances for the company's current year of September 30, 2024 is given below: Cash Accounts receivable Inventory-raw materials Inventory-finished goods Capital assets (net) $370,058 674,730 420,090 453,122 2,632,000 $4,550,000 The sales forecast consisted of these few lines: Accounts payable $719,488 Income tax payable 42,000 Capital stock Retained earnings 2.000.000 1,788,512 $4,550,000 • For the year ended September 30, 2024: 450,000 units at $42.00 each* For the year ended September 30, 2025: 475,000 units at $43.00 each . For the year ended September 30, 2026: 500,000 units at $44.00 each *Sales for the year ended September 30, 2024 are based on actual sales to date and budgeted sales for the duration…

Assume that a merchandising company provided the following beginning and ending budgeted balance sheets for a forthcoming month: Beginning Balances Ending Balances Cash $30,000 $38,000 Accounts Receivable $13,000 $16,000 Inventory $20,000 $18,000 Buildings and equipment $100,000 $100,000 Accumulated depreciation (25,000) (30,000) Total Assets From above: 138,000 $142,000 Accounts payable $4,000 $5,000 Common stock $60,000 $60,000 Retained earnings $74,000 $ 77,000 Total liabilities and stockholders' equity $138,000 $142,000 Assume that all of the company's sales are on account and it has no uncollectible accounts. If the cash collected from customers during the period is $120,000, then how much sales must be shown on the company's budgeted income statement?

Phoenix Company reports the following fixed budget. It is based on an expected production and sales volume of 15,500 units.  PHOENIX COMPANY Fixed Budget For Year Ended December 31 Sales $ 3,255,000 Costs   Direct materials 1,007,500 Direct labor 232,500 Sales staff commissions 77,500 Depreciation—Machinery 300,000 Supervisory salaries 199,000 Shipping 217,000 Sales staff salaries (fixed annual amount) 251,000 Administrative salaries 611,750 Depreciation—Office equipment 196,000 Income $ 162,750       Required:1&2. Prepare flexible budgets at sales volumes of 14,500 and 16,500 units.3. The company’s business conditions are improving. One possible result is a sales volume of 18,500 units. Prepare a simple budgeted income statement if 18,500 units are sold.