Bates & Hill Fabricators produces commemorative bricks that organizations use for fundraising projects. Aaron Bates, the company's vice president of marketing, has prepared the following sales forecast for the first six months of the coming year. The company plans to sell the bricks for $21 each. January February March April May June 25,000 28,000 32,000 34,000 26,000 35,000 Prepare Bates & Hill's sales budget for the first quarter of the coming year. January February March Quarter Budgeted units sold Budgeted sales $ $ $ price Budgeted $ $ $ $ revenue

Bates & Hill Fabricators produces commemorative bricks that organizations use for fundraising projects. Aaron Bates, the company's vice president of marketing, has prepared the following sales forecast for the first six months of the coming year. The company plans to sell the bricks for $21 each. January February March April May June 25,000 28,000 32,000 34,000 26,000 35,000 Prepare Bates & Hill's sales budget for the first quarter of the coming year. January February March Quarter Budgeted units sold Budgeted sales $ $ $ price Budgeted $ $ $ $ revenue

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter4: Activity-based Costing

Section: Chapter Questions

Problem 9E: Nozama.com Inc. sells consumer electronics over the Internet. For the next period, the budgeted cost...

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Nozama.com Inc. sells consumer electronics over the Internet. For the next period, the budgeted cost of the sales order processing activity is 250,000 and 50,000 sales orders are estimated to be processed. a. Determine the activity rate of the sales order processing activity. b. Determine the amount of sales order processing cost associated with 30,000 sales orders.
Sunland Inc. is preparing its annual budgets for the year ending December 31, 2025. Accounting assistants furnish the data shown below. Product JB 50 Product JB 60 Sales budget: Anticipated volume in units 480,000 240,000 Unit selling price $30 $35 Production budget: Desired ending finished goods units 36,000 18,000 Beginning finished goods units 30,000 12,000 Direct materials budget: Direct materials per unit (pounds) 2 3 Desired ending direct materials pounds 36,000 12,000 Beginning direct materials pounds 48,000 18,000 Cost per pound $3 $4 Direct labor budget: Direct labor time per unit 0.4 0.6 Direct labor rate per hour $12 $12 Budgeted income statement: Total unit cost $13 $20 An accounting assistant has prepared the detailed manufacturing overhead budget and the selling and administrative expense budget. The latter shows selling expenses of $672,000 for product JB 50 and $432,000 for product JB 60, and administrative expenses of $648,000 for product JB 50 and $408,000 for product…
Case Study for REX Company.Comprehensive operating budget. REX, Inc., manufactures and sells snowboards. REXmanufactures a single model, the Pipex. In the summer of 2018, REXS accountant gatheredthe following data to prepare budgets for 2019:Materials and labor requirementsDirect materials:Wood 5 board feet per snowboardFiberglass 6 yards per snowboardDirect manufacturing labor 5 hours per snowboardREX’ CEO expects to sell 1,000 snow boards during 2019 at an estimated retail price of$ 450 per board. Further, he expects 2019 beginning inventory of 100 boards, and would liketo end 2019 with 200 snowboards in stock.Direct materials inventories Beginning Inventory Ending Inventory1/1/2019 12/31/2019________________________________________________________Wood 2,000 1,500Fiberglass 1,000 2,000Variable manufacturing overhead is allocated is allocated at the rate $ 7 per directmanufacturing labor-hour. There are also $ 66,000 in fixed manufacturing overhead costsbudgeted for 2019.REX combines…
I need the working solution for the cash balance at the beginning month. Cash Budget The controller of Bridgeport Housewares Inc. instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information: September October November Sales $130,000 $156,000 $205,000 Manufacturing costs 55,000 67,000 74,000 Selling and administrative expenses 46,000 47,000 78,000 Capital expenditures _ _ 49,000 The company expects to sell about 10% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month following the sale and the remainder the following month (second month following sale). Depreciation, insurance, and property tax expense represent $10,000 of the estimated monthly manufacturing costs. The annual insurance premium is paid in January, and the annual property taxes are paid in December. Of the remainder of the manufacturing costs, 80% are expected to be paid…
Avalon Company makes a product that is very popular as a Mother’s Day gift, thus peak sales occur in May of each year, as shown in the company’s sales budget for the second quarter given below. April May June Total Budgeted sales (on account) 300,000 500,000 200,000 1,000,000 From past experience, the company has learned that 20% of a month’s sales are collected in the month of sale, another 70% are collected in the month following sale, and the remaining 10% are collected in the second month following sale. Bad debt are negligible and can be ignored. February sales totaled P230, 000 and March sales totaled P260, 000. Prepared a schedule of expected cash collection from sales, by month and in total, for the second quarter. Assume that the company will prepare a budgeted statement of financial position as of June 30. Compute the accounts receivable as of that date.
Case Study for Slopes Company.Comprehensive operating budget. Slopes, Inc., manufactures and sells snowboards. Slopesmanufactures a single model, the Pipex. In the summer of 2018, Slope’s accountant gatheredthe following data to prepare budgets for 2019:Materials and labor requirementsDirect materials:Wood 5 board feet per snowboardFiberglass 6 yards per snowboardDirect manufacturing labor 5 hours per snowboardSlopes’ CEO expects to sell 1,000 snow boards during 2019 at an estimated retail price ofRM 450 per board. Further, he expects 2019 beginning inventory of 100 boards, and would liketo end 2019 with 200 snowboards in stock.Direct materials inventoriesBeginning Inventory Ending Inventory1/1/2019 12/31/2019________________________________________________________Wood 2,000 1,500Fiberglass 1,000 2,000Variable manufacturing overhead is allocated is allocated at the rate RM 7 per directmanufacturing labor-hour. There are also RM 66,000 in fixed manufacturing overhead costsbudgeted for…
plz help The controller of Sonoma Housewares Inc. instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information: May June July Sales $103,000 $133,000 $175,000 Manufacturing costs 43,000 57,000 63,000 Selling and administrative expenses 30,000 36,000 39,000 Capital expenditures _ _ 42,000 The company expects to sell about 15% of its merchandise for cash. Of sales on account, 60% are expected to be collected in the month following the sale and the remainder the following month (second month following sale). Depreciation, insurance, and property tax expense represent $9,000 of the estimated monthly manufacturing costs. The annual insurance premium is paid in September, and the annual property taxes are paid in November. Of the remainder of the manufacturing costs, 75% are expected to be paid in the month in which they are incurred and the balance in the following month.…
ABC Farm is preparing a collection budget for the year. Sales are expected to be P100,000 in January; P200,000 in February; and P300,000 in March. Approximately 60% of the sale is collected during the month of sale and the other 40% is collected in the following month. What is the collection for March? P 200,000 P 240,000 P 260,000 P 300,000 Group of answer choices 1 2 3 4
Please answer both the requirement correctly Silver Company makes a product that is very popular as a Mother’s Day gift. Thus, peak sales occur in May of each year, as shown in the company’s sales budget for the second quarter given below: April May June Total Budgeted sales (all on account) $420,000 $620,000 $240,000 $1,280,000 From past experience, the company has learned that 20% of a month’s sales are collected in the month of sale, another 65% are collected in the month following sale, and the remaining 15% are collected in the second month following sale. Bad debts are negligible and can be ignored. February sales totaled $350,000, and March sales totaled $380,000. Required: 1. Prepare a schedule of expected cash collections from sales, by month and in total, for the second quarter. 2. What is the accounts receivable balance on June 30th?
Deleon Inc. is preparing its annual budgets for the year ending December 31, 2020. Accounting assistants furnish the data shown below. ProductJB 50 ProductJB 60 Sales budget:     Anticipated volume in units 400,000 200,000     Unit selling price $20 $25 Production budget:     Desired ending finished goods units 30,000 15,000     Beginning finished goods units 25,000 10,000 Direct materials budget:     Direct materials per unit (pounds) 2 3     Desired ending direct materials pounds 30,000 10,000     Beginning direct materials pounds 40,000 15,000     Cost per pound $3 $4 Direct labor budget:     Direct labor time per unit 0.4 0.6     Direct labor rate per hour $12 $12 Budgeted income statement:     Total unit cost $13 $20 An accounting assistant has prepared the detailed manufacturing overhead budget and the selling and…
Deleon Inc. is preparing its annual budgets for the year ending December 31, 2020. Accounting assistants furnish the data shown below. ProductJB 50 ProductJB 60 Sales budget:     Anticipated volume in units 400,000 200,000     Unit selling price $20 $25 Production budget:     Desired ending finished goods units 30,000 15,000     Beginning finished goods units 25,000 10,000 Direct materials budget:     Direct materials per unit (pounds) 2 3     Desired ending direct materials pounds 30,000 10,000     Beginning direct materials pounds 40,000 15,000     Cost per pound $3 $4 Direct labor budget:     Direct labor time per unit 0.4 0.6     Direct labor rate per hour $12 $12 Budgeted income statement:     Total unit cost $13 $20 An accounting assistant has prepared the detailed manufacturing overhead budget and the selling and…
Stephanie Inc. is preparing its annual budgets for the year ending December 31, 2020. Accounting assistants furnish the data shown below: Product JB50 Product JB 60 Sales budget Anticipated volume in units 400,000 200,000 Unit selling price $20 $25 Production budget Desired ending FGU’s 25,000 15,000 Beginning FGU’s 30,000 10,000’ Direct materials budget Direct materials per unit (pounds)     2    3 Desired ending direct materials (lbs) 30,000 15,000 Beginning direct materials pounds 40,000 10,000 Cost per pound    $3   $4 Direct labor budget Direct labor time per unit 0.4 0.6 Direct labor rate per hour $12 $12 Budgeted income statement Total unit cost $12 $21 An accounting assistant has prepared the detailed manufacturing overhead budget and the selling and administrative expense budget. The latter shows selling expenses of $660,000 for product JB 50 and $360,000 for product JB 60, and administrative expenses of $540,000 for product JB 50 and $340,000 for product JB 60. Income…