Required: Prepare a production budget by month and in total, for the second quarter.
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Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
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- es Down Under Products, Limited, of Australia has budgeted sales of its popular boomerang for the next four months as follows: April May June July Unit Sales 64,000 80,000 104,000 87,000 The company is now in the process of preparing a production budget for the second quarter. Past experience has shown that end-of- month inventory levels must equal 15% of the following month's unit sales. The inventory at the end of March was 9,600 units. Required: Prepare a production budget by month and in total, for the second quarter. Total needs Budgeted unit sales Required production in units Down Under Products, Limited, Production Budget April 0 0 Quarter 0 02 Down Under Products, Limited of Australia has budgeted sales of its popular boomerang for the next four months as follows: April May June July Unit Sales 84,000 90,000 124,000 97,000 The company is now in the process of preparing a production budget for the second quarter. Past experience has shown that end-of- month inventory levels must equal 20% of the following month's unit sales. The inventory at the end of March was 16,800 units. Required: Prepare a production budget by month and in total, for the second quarter. Budgeted unit sales Total needs Required production in units Down Under Products, Limited Production Budget April May June QuarterQuestion 3 The Plantd’ Company’s budgeted sales for the first quarter of 2020 are as follows: N$ January 400 000 February 320 000 March 480 000 Total 1 200 000 Credit sales are normally collected as follows: Percent (%) In the month of sale 50 The month following the sale 30 The second month following the month of the sale 20 Total…
- Exercise 2 (Production Budget) Rock Telecom has budgeted the sales of its innovative mobile phone over the next four months as follows: Sales in Units July.. 30,000 August 45,000 September.. 60,000 October. 50,000 The company is now in the process of preparing a production budget for the third 44 quarter. Past experience has shown that end-of-month inventories of finished goods must equal 10% of the next month's sales. The inventory at the end of June was 3,000 units. Required: Prepare a production budget for the third quarter showing the number of units to be produced each month and for the quarter in total.& EXIT Submit Questions #1 Down Under Products, Ltd., of Australia, has budgeted sales of its popular boomerang for the next four months as follows: Sales in Units 50,000 April May 75,000 June 90,000 July 80,000 The company is now in the process of preparing a production budget for the second quarter. Past experience has shown that end-of-month inventory levels must equal 10% of the following month's sales. The inventory at the end of March was 5,000 units. (Australia's currency is the Australian dollar.) Required: Prepare a production budget for the second quarter; in your budget, show the number of units to be produced each month and for the quarter in total. DOWN UNDER PRODUCTS, LTD. Production Budget April May June Quarter Total needsExercise 8-2 (Algo) Production Budget [LO8-3] Down Under Products' sales budget for the next four months is as follows: April May June July Unit Sales 52,000 75,000 92,000 81,000 The company wants its ending inventory levels to equal 15% of the following month's unit sales. The inventory at the end of March was 7,800 units. Required: Prepare a production budget, by month and in total, for the second quarter. Budgeted unit sales Total needs Required production in units Down Under Products, Limited Production Budget April 0 0 May 0 June 0 0 Quarter 0 0
- QUESTION 7 BMW Limited manufactures a single product, Tune. The finance director prepares monthly budgets. The following budgeted information is available for the first three months of 2021. (i.) The selling price will be fixed at $60 per unit. In January 2021 sales are expected to be 24 000 units. It is anticipated that there will be a 5% increase in sales volume in every subsequent month up to April 2021. (ii.) The finished goods inventory level at the end of each month will be maintained at one-third of the expected sales volume in the following month. The inventory of finished goods at 31 December 2020 is expected to be 7500 units with a value of $242000. The finished goods inventory value at 31 March 2021 is expected to be $298000. (iii) Each unit of Tune requires 10 kilos of raw material. The closing inventory of raw materials each month is expected to meet 20% of the production requirement of the following month. The inventory of raw materials at 31 December 2020 is expected to…Question 10 View Policies Current Attempt in Progress The following credit sales are budgeted by Waterway Industries: t $174000 January 250000 February 390000 March 280000 April The company's past experience indicates that 70% of the accounts receivable are collected in the month of sale, 20% in the month following the sale, and 8% in the second month following the sale. The anticipated cash inflow for the month of April is O $336920. O $294000. O $280800. O $274000. hp holl 12 44 ins prt sc delete home & 6 7 backspace lock P C H K L ntCopr Goedl 2022 Sheba Industries reported the following budgeted sales in units for the first quarter of the fiscal year. Month Units June 3,300 July 2,960 3,120 August The desired ending finished goods inventory should be 10% of the next month's sales in units. The inventory on May 31 contained 330 units, which is the beginning inventory for June. The manager is preparing the production budget. The total number of units to be produced in July is: 2,976 units 3,272 units 3,266 units O3,596 units
- Question 2 The accountant for ABX Limited compiled the following cost information regarding the budgetary period of four moths. Sales in Kgs are expected to be 2000 per month for Jan, Feb, Mar and April. The selling price of K10 per Kg will remain uniform throughout the four months. The company is expected to have cash at hand of K15,000 at the beginning of the period. ABX Limited is expecting a particular debtor to settle his outstanding amount in January for K12,000. The possibility of collecting this amount is 100%. The accountant has also noted the following: The company will hire a grader for the first two months at K2000 per month. Prepared electricity will be paid only in Mar and April at K3000 for each month. Wages and salaries are expected to be K3500 on a monthly basis. Stationery is budgeted at K1,500 in month one and K2500 in month 2 and 3. Transport and fuel is expected to be K2500 per month for the entire period Repairs and maintenance for the build will…8.5 Operating Budget, Comprehensive Analysis Ponderosa, Inc., produces wiring harness assemblies used in the production of semi-trailer trucks. The wiring harness assemblies are sold to various truck manufacturers around the world. Projected sales in units for the coming five months are given below. January 10,000 February 10,500 March 13,700 April 16,000 May 18,500 The following data pertain to production policies and manufacturing specifications followed by Ponderosa: Finished goods inventory on January 1 is 900 units. The desired ending inventory for each month is 20 percent of the next month’s sales. The data on materials used are as follows: Direct Material Per-Unit Usage Unit Cost Part #K298 2 $4 Part #C30 3 7 Inventory policy dictates that sufficient materials be on hand at the beginning of the month to satisfy 30 percent of the next month’s production needs. This is exactly the amount of material on hand on…Question 7 Landon Inc. projected sales of 31,000 personal journals for 20Y6. The estimated January 1, 20Y6, inventory is 2,200 units, and the desired December 31, 20Y6, inventory is 3,000 units. What is the budgeted production (in units) for 20Y6?fill in the blank 1 units