Production and sales estimates for March for the Robin Co. are as follows: Estimated inventory (units), March 1 17,800 Desired inventory (unit), March 31 19,300     Expected sales volume (units):      Area M 6,100    Area L 8,800    Area O 7,800 Unit sales price $12 The number of units expected to be manufactured in March is

Q: Ferris Company began January with 8,000 units of its principal product. The cost of each unit is $7.…

A: This question deals with the calculation of inventory and COGS using LIFO basis. In last in first…

Q: Fantastic Futons manufactures futons. The estimated numbers of futon sales for the first three…

A: Sales Budget for the month of January = Budgeted Sales Units x Selling Price per Unit = 40000 x $…

Q: Production and sales estimates for May for Cardinal Co. are as follows: Estimated inventory…

A: The sales budget includes all the income and expenses of the business on the basis of past…

Q: The department had a beginning inventory of 5,500 units of product, and it started 94,500 units…

A: The equivalent units are calculated on the basis of percentage of work completed during the period.

Q: The following data are for the year ended December 31, 2021: Beginning Inventory 170,000 units…

A: Absorption costing: The absorption costing method refers to the technique of charging all costs,…

Q: The following forecasted sales pertain to Micah Company: Month Sales April $200,000 May 250,000…

A: Budgeted sales unit in April = Budgeted sales / sales price per unit = $200000/$10 = 20000 units…

Q: Assume a merchandising company’s estimated sales for January, February, and March are $105,000,…

A: The budget is prepared to estimate the future requirements in advance.

Q: Production and sales estimates for March for the Robin Co. are as follows: Estimated inventory…

A: Inventory refers to the goods or items which are stored by the business either for selling or for…

Q: 1. ABM Company forecasts sales in units for January to May as follows: January 2,500, February…

A: Production budget is a schedule of number of units that should be produced to meet the targets of…

Q: Production and sales estimates for June are as follows: Estimated inventory (units), June 1 20,000…

A: Budget: A budget is an estimation to determine the income that will be earned and expenses that will…

Q: For the month of July, a company estimated that unit sales and required production are 25,250 units…

A: Beginning inventory of July = 25,250 units x 10% = 2,525   Ending inventory of July = Beginning…

Q: The Dermaniaga Company has the following information available:   Table 3: Total Monthly Sales…

A: Budgets are the estimations that are made for future period of time. Some types of budgets are Sales…

Q: At the beginning of May, the raw material inventory level was 150 units, valued at RM450. In May,…

A:

Q: Based on the following production and sales data of Jackson Co. for March of the current year.…

A: Lets start with basics. Budget is prepared by the management so that to estimate the future profit…

Q: The Dermaniaga Company has the following information available:   Table 3: Total Monthly Sales…

A: Budgets are the basis of estimation of future course of action. Production budget, direct material…

Q: Production and sales estimates for March for Robin Co. are as follows: Estimated inventory…

A: The correct answer is Option (a).

Q: Production and sales estimates for March for Robin Co. are as follows: Estimated inventory (units),…

A: Formula: Units to be manufactured = Expected sales volume + Desired ending inventory - Estimated…

Q: Production and sales estimates for May for the Finneaty Co. are as follows:   Estimated…

A: Compute number of units expected to be sold in May as shown below:

Q: Raider-X Company forecasts sales of 18,000 units for April. Beginning inventory is 3,000 units. The…

A:

Q: Production estimates for July for Starling Co. are as follows: Estimated inventory (units), July 1…

A: Production = Sales + Ending Inventory - Opening Inventory Raw Material Requirement = Production *…

Q: Assume a company's estimated sales for January, February, and March are 41,000 units, 42,000 units,…

A: Desired ending inventory for January = Estimated sales for February x 15% = 42000 x 15% = 6300 units

Q: Production and sales estimates for May for the Cardinal Co. are as follows: Estimated inventory…

A: No. of units expected to be sold in May = Expected sales volume for Area W + Area X + Area Y

Q: Last month, a manufacturing firm had the following results: Beginning finished goods inventory =…

A: Cost of goods sold = Sales - Gross margin = 1395,000 - 264,000 = P1,131,000

Q: Ferris Company began January with 4,000 units of its principal product. The cost of each unit is $8.…

A: The inventory can be valued using various methods as LIFO, FIFO and weighted average method.

Q: JKL & Company had 3,000 units in finished-goods inventory on December 31.  The following data are…

A: Sales Revenue is the amount received or receivable from the customers on the account of cash sales…

Q: Production and sales estimates for May for Cardinal Co. are as follows: Estimated inventory…

A:

Q: The finished goods inventory is being carried at the average unit production cost for the year. The…

A: The schedule of cost of goods manufactured states all the manufacturing costs such as direct…

Q: [The following information applies to the questions displayed below] Shadee Corp. expects to sell…

A: Labor cost is the cost incurred by the company on the labor involved in the production process of…

Q: Based on the following production and sales data of Frixion Co. for March of the current year:…

A: Answer:- a                                               Sales budget for the month ending March 31…

Q: A company began January with 8,000 units of its principal product. The cost of each unit is $8.…

A: Ending inventory refers to the value of the inventory which is remained at the end of the accounting…

Q: (Production schedule) The projected sales, in units,for Einstein Inc. By month for the first four…

A: Ending inventory = 1/2 of next month estimated sales January = 12,000*1/2 = 6,000 units February  =…

Q: Production and sales estimates for March for the Robin Co. are as follows: Estimated inventory…

A: Formula to calculate number of units expected to be manufactured:Number of units expected to be…

Q: The trailer company exspects to sell 9000 for $155 each for a total  of $1,395,000 in January and…

A: The inventory formula is as follows Opening Inventory+ Additions= Closing Inventory+ Cost of goods…

Q: Production and sales estimates for March for the Robin Co. are as follows: Estimated inventory…

A: Expected sales volume(unit) Area M      6700 Area L       9700 Area O       8000 Total expected…

Q: [The following information applies to the questions displayed below.] Ferris Company began January…

A: The inventory of an organization can be valued using FIFO, LIFO, and weighted average cost. Under…

Q: Production and sales estimates for March for Robin Co. are as follows: Estimated inventory (units),…

A: Ending inventory = Opening inventory + Units Produced - Units Sold

Q: A June sales forecast projects that 8,000 units are going to be sold at a price of $11.00 per unit.…

A: Introduction:- The following basic information as follows under:-   A June sales forecast projects…

Q: Murray electronics sales in May were 2,000 units @ $52 and 2,100 @ $54 in June. Sales projections…

A: Purchases means where the goods has been purchased for the resale purpose. Gross purchases means…

Q: Based on the following production and sales data of Jackson Co. for March of the current year.…

A: a. Prepare Sales budget.

Q: Production estimates for July for Starling Co. are as follows: Estimated inventory (units), July…

A: The purchases of materials during the month can be derived from the following…

Q: Production and sales estimates for March for the Robin Co. are as follows: Estimated inventery…

A: Solution...   Total sales units  = 6,500 + 8,300 + 7,900  = 22,700    Ending inventory = 19,100…

Q: Based on the following production and sales estimates for May for Heron Company, determine the…

A: Definition:   Production budget: It shows the quantities of units that a company must produce to…

Q: Beginning Finished Goods Inventory is $86,400 consisting of 3,600 units. gin by calculating the…

A: Budget refers to the financial plan for a time frame of one year and it involves the planned sales…

Inventory Accounting

Inventory accounting is that branch of accounting that helps in determining the specific value of assets at different stages of production and development.