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Assignment - lorie nursery plans to sell 320 potted plants during april

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Added on  2019-09-20

Assignment - lorie nursery plans to sell 320 potted plants during april

   Added on 2019-09-20

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Assignment (1) – Due Date 6 Nov. 2016Write down the answer in each one of the following spaces1.TATA, Inc. estimates its sales at 200,000 units in the first quarter and that sales willincrease by 20,000 units each quarter over the year. They have, and desire, a 25%ending inventory of finished goods. Each unit sells for $35. 40% of the sales are forcash. 70% of the credit customers pay within the quarter. The remainder is receivedin the quarter following sale. Cash collections for the third quarter are budgeted at________________2.Solo Manufacturing budgets on an annual basis for its fiscal year. The followingbeginning and ending inventory levels are planned for the fiscal year of July 1, 2012to June 30, 2013:June 30, 2013June 30, 2012Raw Materials3,000 kilos2,000 kilosThree kilos of raw materials are needed to produce each unit of finished product. IfSolo Manufacturing plans to produce 560,000 units during the 2012-2013 fiscal year,how many kilos of materials will the company need to purchase for its productionduring the year?________________3.Mimie Company is planning to sell 400 buckets and produce 380 buckets duringMarch. Each bucket requires 500 grams of plastic and one-half hour of direct labor.Plastic costs $10 per 500 grams and employees of the company are paid $15.00 perhour. Manufacturing overhead is applied at a rate of 110% of direct labor costs.Mimie has 300 kilos of plastic in beginning inventory and wants to have 200 kilos inending inventory. How much is the total amount of budgeted direct labor for March?________________4.Batata Co. estimates its sales at 180,000 units in the first quarter and that sales willincrease by 18,000 units each quarter over the year. They have, and desire, a 25%ending inventory of finished goods. Each unit sells for $25. 40% of the sales are forcash. 70% of the credit customers pay within the quarter. The remainder is receivedin the quarter following sale. Production in units for the third quarter should bebudgeted at________________5.The following information is taken from the production budget for the first quarter:Beginning inventory in units1,200Sales budgeted for the quarter456,000Production capacity in units 472,000How many finished goods units should be produced during the quarter if the company desires 3,200 units available to start the next quarter?________________6.Levi Co. is planning to sell 900 boxes of ceramic tile, with production estimated at870 boxes during May. Each box of tile requires 44 pounds of clay mix and a quarterhour of direct labor. Clay mix costs $0.40 per pound and employees of the companyare paid $12.00 per hour. Manufacturing overhead is applied at a rate of 110% ofdirect labor costs. Levi has 3,900 pounds of clay mix in beginning inventory andwants to have 4,500 pounds in ending inventory. What is the total amount to bebudgeted for manufacturing overhead for the month?________________
Assignment - lorie nursery plans to sell 320 potted plants during april_1
7.Polo Manufacturing is preparing its direct labor budget for May. Projections for themonth are that 33,400 units are to be produced and that direct labor time is threehours per unit. If the labor cost per hour is $12, what is the total budgeted direct laborcost for May?________________8.Ramla Co. is planning to sell 900 boxes of ceramic tile, with production estimated at870 boxes during May. Each box of tile requires 44 pounds of clay mix and a quarterhour of direct labor. Clay mix costs $0.40 per pound and employees of the companyare paid $12.00 per hour. Manufacturing overhead is applied at a rate of 110% ofdirect labor costs. Ramla has 3,900 pounds of clay mix in beginning inventory andwants to have 4,500 pounds in ending inventory. What is the total amount to bebudgeted for direct labor for the month?________________9.Tantram Co. estimates its sales at 180,000 units in the first quarter and that sales willincrease by 18,000 units each quarter over the year. They have, and desire, a 25%ending inventory of finished goods. Each unit sells for $25. 40% of the sales are forcash. 70% of the credit customers pay within the quarter. The remainder is receivedin the quarter following sale. Cash collections for the third quarter are budgeted at________________10.Teller Co. is planning to sell 900 boxes of ceramic tile, with production estimated at870 boxes during May. Each box of tile requires 44 pounds of clay mix and a quarterhour of direct labor. Clay mix costs $0.40 per pound and employees of the companyare paid $12.00 per hour. Manufacturing overhead is applied at a rate of 110% ofdirect labor costs. Teller has 3,900 pounds of clay mix in beginning inventory andwants to have 4,500 pounds in ending inventory. What is the total amount to bebudgeted in pounds for direct materials to be purchased for the month?________________11.Lorie Nursery plans to sell 320 potted plants during April and 240 units in May. LorieNursery keeps 15% of the next month’s sales as ending inventory. How many unitsshould Lorie Nursery produce during April?________________12.Comma Co. makes and sells widgets. The company is in the process of preparing itsselling and administrative expense budget for the month. The following budget dataare available:ItemVariable Cost Per Unit SoldMonthly Fixed CostSales commissions$1 $10,000Shipping$3Advertising$4Executive salaries$120,000Depreciation on office equipment$4,000Other$2$6,000Expenses are paid in the month incurred. If the company has budgeted to sell 80,000widgets in October, how much is the total budgeted selling and administrativeexpenses for October?________________13.Off-Line Co. has 9,000 units in beginning finished goods. The sales budget showsexpected sales to be 36,000 units. If the production budget shows that 42,000 unitsare required for production, what was the desired ending finished goods?________________
Assignment - lorie nursery plans to sell 320 potted plants during april_2
14.Lion Industries required production for June is 132,000 units. To make one unit offinished product, three pounds of direct material Z are required. Actual beginning anddesired ending inventories of direct material Z are 300,000 and 330,000 pounds,respectively. How many pounds of direct material Z must be purchased?________________15.Haft Construction Company determines that 54,000 pounds of direct materials areneeded for production in July. There are 3,200 pounds of direct materials on hand atJuly 1 and the desired ending inventory is 2,800 pounds. If the cost per unit of directmaterials is $3, what is the budgeted total cost of direct materials purchases?________________16.Bear, Inc. estimates its sales at 200,000 units in the first quarter and that sales willincrease by 20,000 units each quarter over the year. They have, and desire, a 25%ending inventory of finished goods. Each unit sells for $35. 40% of the sales are forcash. 70% of the credit customers pay within the quarter. The remainder is receivedin the quarter following sale. Production in units for the third quarter should bebudgeted at________________17.A company determined that the budgeted cost of producing a product is $30 per unit.On June 1, there were 80,000 units on hand, the sales department budgeted sales of300,000 units in June, and the company desires to have 120,000 units on hand onJune 30. The budgeted cost of goods manufactured for June would be________________ 18.A company has budgeted direct materials purchases of $300,000 in July and$480,000 in August. Past experience indicates that the company pays for 70% of itspurchases in the month of purchase and the remaining 30% in the next month.During August, the following items were budgeted:Wages Expense$150,000Purchase of office equipment72,000Selling and Administrative Expenses48,000Depreciation Expense36,000The budgeted cash disbursements for August are________________19.Astor Manufacturing has the following budgeted sales: January $120,000, February$180,000, and March $150,000. 40% of the sales are for cash and 60% are on credit.For the credit sales, 50% are collected in the month of sale, and 50% the next month.The total expected cash receipts during March are:________________20.Garnett Co. expects to purchase $180,000 of materials in July and $210,000 ofmaterials in August. Three-fourths of all purchases are paid for in the month ofpurchase, and the other one-fourth are paid for in the month following the month ofpurchase. How much will August's cash disbursements for materials purchases be?________________21. The following facts are known:The total pounds needed for production are 2 times the units to be produced.The desired ending direct materials inventory is 20% of the total pounds needed forproduction.
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