Olympia, Inc. manufactures electric bicycles. The company desires to end each month with finished goods inventory equal to 10% of the next month’s sales. Please complete the following production budget
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Olympia, Inc. manufactures electric bicycles. The company desires to end each month with finished goods inventory equal to 10% of the next month’s sales. Please complete the following production budget
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- Cost of goods sold budget The controller of Pueblo Ceramics Inc. wishes to prepare a cost of goods sold budget for April. The controller assembled the following information for constructing the cost goods sold budget: Use the preceding information to prepare a cost of goods sold budget for April.Refer to Cornerstone Exercise 8.6. Required: 1. Calculate the total budgeted cost of units produced for Play-Disc for the coming year. Show the cost of direct materials, direct labor, and overhead. 2. Prepare a cost of goods sold budget for Play-Disc for the year. 3. What if the beginning inventory of finished goods was 75,200 (for 16,000 units)? How would that affect the cost of goods sold budget? (Assume Play-Disc uses the FIFO method.) Play-Disc makes Frisbee-type plastic discs. Each 12-inch diameter plastic disc has the following manufacturing costs: For the coming year, Play-Disc expects to make 300,000 plastic discs, and to sell 285,000 of them. Budgeted beginning inventory in units is 16,000 with unit cost of 4.75. (There are no beginning or ending inventories of work in process.) Required: 1. Prepare an ending finished goods inventory budget for Play-Disc for the coming year. 2. What if sales increased to 290,000 discs? How would that affect the ending finished goods inventory budget? Calculate the value of budgeted ending finished goods inventory.Prepare a cost of goods sold budget for MacLaren Manufacturing Inc. for the year ended December 31, 2016, from the following estimates. Inventories of production units: Direct materials purchased during the year, 548,000; beginning inventory of direct materials, 36,000; and ending inventory of direct materials, 23,000. Totals from other budgets included:
- Blue Book printing is budgeting sales of 25,000 units and already has 5,000 in beginning inventory. How many units must be produced to also meet the 7,000 units required in ending inventory?How many units are in beginning inventory it 32,000 units are budgeted for sales, 35,000 units are produced, and the desired ending inventory is 9,000 units?2. Prepare a cost of goods sold budget for Play-Disc for the year. 3. What if the beginning inventory of finished goods was $80,900 (for 17,000 units)? How would that affect the cost of goods sold budget? (Assume Play-Disc uses the FIFO method.)
- Company has prepared the following summary from its functional budgets for the year ended 30th September 2020. Particulars Amount (in Rs.) Amount (in Rs.) Sales(1,00,000 units) 15,00,000 Opening Inventory( Zero Units) Nil Production Costs (1,15,000 units) Direct materials 4,60,000 Direct labour 5,75,000 Variable overhead 1,15,000 Fixed overhead 2,30,000 1,380,000 Closing inventory (15,000 units) (1,80,000) Cost of Sales 1,200,000 Gross Profit 3,00,000 Other overhead fixed costs (2,00,000) Net Profit 1,00,000 The directors of the company have now met to review the above statement. They have decided to revise the budget as follows: Due to competition, reduce the selling price by Rs.5 per unit and despite the reduction in selling price the demand for the product will reduce to 90,000 units. Increase some of the unit production costs: direct…The Armstar Company prepared following figures as a basis for its budget for 2020. Product Sales Price Material Required A B Tribal 80,000 1.5 1Kg 2Kg Poly 40,000 2.0 2 - Powder 100,000 1 1 3 Raw Material Inventory: Jan1 Dec 31 Price A 10,000 12,000 0.20 B 12,000…Ques 4 - Company has prepared the following summary from its functional budgets for the year ended 30th September 2020. Particulars Amount (in Rs.) Amount (in Rs.) Sales(1,00,000 units) 15,00,000 Opening Inventory( Zero Units) Nil Production Costs (1,15,000 units) Direct materials 4,60,000 Direct labour 5,75,000 Variable overhead 1,15,000 Fixed overhead 2,30,000 1,380,000 Closing inventory (15,000 units) (1,80,000) Cost of Sales 1,200,000 Gross Profit 3,00,000 Other overhead fixed costs (2,00,000) Net Profit 1,00,000 The directors of the company have now met to review the above statement. They have decided to revise the budget as follows: Due to competition, reduce the selling price by Rs.5 per unit and despite the reduction in selling price the demand for the product will reduce to 90,000 units. Increase some of the unit production…
- Use the information below to answer questions that follow:Boko (Pty) Ltd have the following information in their books, which they want to use for planningpurposes. quarter 1 quarter 2 quarter 3 quarter 4 budgeted sales in units 50000 70000 90000 120000 desired ending inventory of finished goods 10000 14000 18000 24000 opening inventory of finished goods 7000 10000 14000 18000 direct labour hour used per unit 0.5 0.5 0.5 0.5 selling price 10 10 10 10 direct labour cost per hour 3 3 3 3 Required:a) For each quarter, calculate the:i. Sales budget. ii. Production budget. iii. Direct labour budget.Based on the following production and sales data of Frixion Co. for March of the current year, prepare the following: Product T Product X Estimated inventory, March 1 28,000 units 20,000 units Desired inventory, March 31 32,000 units 15,000 units Expected sales volume: Territory I 320,000 units 260,000 units Territory II 190,000 units 130,000 units Unit sales price $6 $14 i need help creating a production budget Frixion Co. Production Budget For the Month Ending March 31 Product T Product X Sales (units) Total (units) available Total units to be producedUse the information below for Mandy Corporation to answer the question that follow. Mandy Corporation sells a single product. Budgeted sales for the year are anticipated to be 696,000 units, estimated beginning inventory is 106,000 units, and desired ending inventory is 89,000 units. The quantities of direct materials expected to be used for each unit of finished product are given below.Material A: 0.50 lb. per unit @ $0.71 per poundMaterial B: 1.00 lb. per unit @ $1.89 per poundMaterial C: 1.20 lb. per unit @ $0.84 per poundThe dollar amount of Material B used in production during the year is
