Thank you. DELEON INC.Sales BudgetJB 50JB 60Total24%2424 Deleon Inc. is preparing its annual budgets for the year ending December 31, 2020. Accounting assistants furnish the data shownbelow.ProductProductJB 50JB 60Sales budget:Anticipated volume in units404,400202,600Unit selling price$23$28Production budget:Desired ending finished goods unitsBeginning finished goods unitsDirect materials budget:27,30019,00034,70013,000Direct materials per unit (pounds)2Desired ending direct materials pounds34,20019,400Beginning direct materials pounds44,40012,000Cost per pound$3$3Direct labor budget:Direct labor time per unit0.40.6Direct labor rate per hour$10$10Budgeted income statement:Total unit cost$14$22An accounting assistant has prepared the detailed manufacturing overhead budget and the selling and administrative expensebudget. The latter shows selling expenses of $663,000 for product JB 50 and $361,000 for product JB 60, and administrativeexpenses of $544,000 for product JB 50 and $343,000 for product JB 60. Interest expense is $150,000 (not allocated to products).Income taxes are expected to be 30%.

please like the answer your response matters DELEON INC. Sales Budget For the Year Ending…

Answered: Deleon Inc. is preparing its annual…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

6 Lab Company's targeted ending inventory is ₱250,000. Its forecasted sales is ₱980,000 and has a beginning inventory of ₱235,000. Cost of sales is 68% of sales. Compute the budgeted purchases. ₱181,400 ₱651,400 ₱1,151,400 ₱681,400
Q7 Duo, Incorporated, carries two products and has the following year-end income statement (000s omitted): Product AR-10 Product ZR-7 Budget Actual Budget Actual Units 2,600 3,600 7,200 6,700 Sales $ $ 13,000 $ 9,720 $ 14,400 $ 14,070 Variable costs 2,860 3,600 7,200 7,040 Fixed Costs 1,800 1,900 2,400 2,400 Total Costs $ 4,660 $ 5,500 $ 9,600 $ 9,440 Operating income $ 8,340 $ 4,220 $ 4,800 $ 4,630 The net effect of AR-10's sales volume variance on profit is: Multiple Choice $2,880 favorable. $1,950 favorable. $3,900 favorable. $3,150 favorable. $2,220 favorable.
q7: Flexible budget for a product as prepare by Anchor Ltd, is given below: Sales – unit 10,000 15,000 20,000 Rs. Rs. Rs. Sales 800,000 1,200,000 1,600,000 Manufacturing cost: Variable 300,000 450,000 600,000 Fixed 200,000 200,000 200,000 Total manufacturing cost 500,000 650,000 800,000 Marketing and other expenses: Variable 200,000 300,000 400,000 Fixed 160,000 160,000 160,000 Total Marketing and other exp 360,000 460,000 560,000…
q7: Flexible budget for a product as prepare by Anchor Ltd, is given below: Sales – unit 10,000 15,000 20,000 Rs. Rs. Rs. Sales 800,000 1,200,000 1,600,000 Manufacturing cost: Variable 300,000 450,000 600,000 Fixed 200,000 200,000 200,000 Total manufacturing cost 500,000 650,000 800,000 Marketing and other expenses: Variable 200,000 300,000 400,000 Fixed 160,000 160,000 160,000 Total Marketing and other exp 360,000 460,000 560,000 Operating…
Q20 Olwethu Ltd manufactures and sells two products, Nike and Carvela shoes. The following information relates to the two products for the financial year ended 31 Dec ember 2014: Nike Carvela Budgeted sales(in units) 105 000 112 000 Selling price per unit R20 R22 Required opening inventory 30 900 40 100 Required closing inventory 29 000 21 500 The budgeted sales for Carvela are___________. Select one: a. R2 310 000 b. R2 100 0000 c. R2 464 0000 d. R4 410 000
q8: Flexible budget for a product as prepare by Anchor Ltd, is given below: Sales – unit 10,000 15,000 20,000 Rs. Rs. Rs. Sales 800,000 1,200,000 1,600,000 Manufacturing cost: Variable 300,000 450,000 600,000 Fixed 200,000 200,000 200,000 Total manufacturing cost 500,000 650,000 800,000 Marketing and other expenses: Variable 200,000 300,000 400,000 Fixed 160,000 160,000 160,000 Total Marketing and other exp 360,000 460,000 560,000 Operating income / (loss)…
q8: Flexible budget for a product as prepare by Anchor Ltd, is given below: Sales – unit                                             10,000            15,000             20,000                                                                     Rs.                   Rs.                   Rs. Sales                                                       800,000           1,200,000        1,600,000 Manufacturing cost:             Variable                                       300,000           450,000           600,000             Fixed                                           200,000           200,000           200,000 Total manufacturing cost                       500,000           650,000           800,000 Marketing and other expenses:             Variable                                      200,000           300,000           400,000             Fixed                                           160,000           160,000           160,000 Total Marketing and other expense…
q9: Flexible budget for a product as prepare by Anchor Ltd, is given below: Sales – unit                                         10,000            15,000             20,000                                                                  Rs.                   Rs.                   Rs. Sales                                                    800,000           1,200,000        1,600,000 Manufacturing cost:             Variable                                   300,000           450,000           600,000             Fixed                                        200,000           200,000           200,000 Total manufacturing cost                    500,000           650,000           800,000 Marketing and other expenses:             Variable                                    200,000           300,000           400,000             Fixed                                         160,000           160,000           160,000 Total Marketing and other expense     360,000           460,000…
q9: Flexible budget for a product as prepare by Anchor Ltd, is given below: Sales – unit                                      10,000            15,000             20,000                                                               Rs.                   Rs.                   Rs. Sales                                                800,000         1,200,000        1,600,000 Manufacturing cost:             Variable                               300,000           450,000           600,000             Fixed                                    200,000           200,000           200,000 Total manufacturing cos                 500,000           650,000           800,000 Marketing and other expenses:             Variable                                  200,000           300,000           400,000             Fixed                                       160,000           160,000           160,000 Total Marketing and other exp        360,000           460,000           560,000 Operating income…
LearnCo Sales Budget For the Year Ending December 31, 20Y2 Product Unit Sales Volume Unit Selling Price Total Sales Basic Abacus 36,000 $7.00 $252,000 Deluxe Abacus 36,000 $13.00 468,000 Totals 72,000 $720,000 LearnCo Production Budget For the Year Ending December 31, 20Y2 Units Basic Units Deluxe Expected units to be sold (from Sales Budget) 36,000 36,000 Desired ending inventory, December 31, 20Y2 1,000 3,000 Total units available 35,000 33,000 Estimated beginning inventory, January 1, 20Y2 (1,050) (2,100) Total units to be produced 33,950 30,900 The direct materials purchases budget should be integrated with the production budget to ensure that production is not interrupted during the year. This budget estimates the quantities of direct materials to be purchased to support budgeted production, along with desired inventory levels of direct materials. Before you make any changes to the budget, you review the information…
Sales (units) 13,000 Sales price per unit $40 Uncollectible expense* 1% Direct material per unit $1 Direct labor per unit (hours) 0.50 Direct labor rate per hour $21 Manufacturing overhead $14,000 Variable sales and administrative expenses per unit $2 Fixed sales and administrative expenses $21,000 Taxes** 15% *of sales **of income before taxes Prepare a budgeted income statement using the above information. Round final answers to nearest whole dollar. Budgeted Income Statement For the Year Ending Dec. 31, 2020 $fill in the blank 2 $fill in the blank 4 fill in the blank 6 fill in the blank 8 fill in the blank 10 $fill in the blank 12 fill in the blank 14 fill in the blank 16 fill in the blank 18 $fill in the blank 20 fill in the blank 22 $fill in the blank 24
Problem 10-49: Budgeting for a Merchandising Firm Background Budgeted sales: December $250,000 January $225,000 Collections of A/R: Collected in month of sale 50.00% Collected following month 48.00% Est B/D expense 2.00% Discount for early payment 1.00% Gross margin % 30% Target End Inv, as % of following month's sales 80.00% Merchandise payments: % paid in month following month of purchase 100.00% Other operating expenses (cash) = $25,000 Annual depreciation expense = $216,000 Goldberg Company's statement of financial position at the close of business on November 30th follows: GOLDBERG COMPANY Statement of Financial Position November 30, 2016 Assets Cash…

SEE MORE QUESTIONS

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS