what is the answers? Nevis Corporation manufactures and sells a single product. In preparing the budget for the first quarter, the company's cost accountanthas assembled the following information.UnitsDollarsSales (budgeted)Finished goods inventory, January 1 (actual)Finished goods inventory, March 31 (budgeted)Cost of finished goods manufactured (budgeted manufacturing costs are $30 per unit)160,00020,00032,000?$6,400,000500,000?The company uses the first-in, first-out method to report its inventory of finished goods.Required:a. Compute the planned production of finished goods (in units).b. Compute the cost of finished goods manufactured.c. Compute the finished goods inventory, March 31.d. Compute the cost of goods sold.Planned production of finished goods160,000 unitsа.b.Cost of finished goods manufacturedEnding finished goods inventory$32,000C.d.Cost of goods sold

The budgets are prepared to estimate the requirements for the future period including sales budget,…

Nevis Corporation manufactures and sells a single product. In preparing the budget for the first quarter, the company's cost accountant has assembled the following information. Units 160,000 20,000 32,000 Dollars Sales (budgeted) Finished goods inventory, January 1 (actual) Finished goods inventory, March 31 (budgeted) Cost of finished goods manufactured (budgeted manufacturing costs are $30 per unit) $6,400,000 500,000 ? ? ? The company uses the first-in, first-out method to report its inventory of finished goods. Required: a. Compute the planned production of finished goods (in units). b. Compute the cost of finished goods manufactured. c. Compute the finished goods inventory, March 31. d. Compute the cost of goods sold.

Nevis Corporation manufactures and sells a single product. In preparing the budget for the first quarter, the company's cost accountant has assembled the following information. Units 160,000 20,000 32,000 Dollars Sales (budgeted) Finished goods inventory, January 1 (actual) Finished goods inventory, March 31 (budgeted) Cost of finished goods manufactured (budgeted manufacturing costs are $30 per unit) $6,400,000 500,000 ? ? ? The company uses the first-in, first-out method to report its inventory of finished goods. Required: a. Compute the planned production of finished goods (in units). b. Compute the cost of finished goods manufactured. c. Compute the finished goods inventory, March 31. d. Compute the cost of goods sold.

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter18: Pricing And Profitability Analysis

Section: Chapter Questions

Problem 20E: Eastman, Inc., manufactures and sells three products: R, S, and T. In January, Eastman, Inc.,...

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Salisbury Bottle Company manufactures plastic two-liter bottles for the beverage industry. The cost standards per 100 two-liter bottles are as follows: At the beginning of March, Salisburys management planned to produce 500,000 bottles. The actual number of bottles produced for March was 525,000 bottles. The actual costs for March of the current year were as follows: a. Prepare the March manufacturing standard cost budget (direct labor, direct materials, and factory overhead) for Salisbury, assuming planned production. b. Prepare a budget performance report for manufacturing costs, showing the total cost variances for direct materials, direct labor, and factory overhead for March. c. Interpret the budget performance report.
Digital Solutions Inc. uses flexible budgets that are based on the following data: Prepare a flexible selling and administrative expenses budget for October for sales volumes of 500,000, 750,000, and 1,000,000.
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