Stephanie Corporation sells a single product. Budgeted sales for the year are anticipated to be 640,000 units, estimated beginning inventory is 107,000 units, and desired ending inventory is 88,000 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 @ $0.64 per pound Material B 1.00 lb. per unit @ $2.11 per pound Material C 1.20 lb. per unit @ $0.85 per pound The dollar amount of material A used in production during the year is Oa. $633,420 Ob. $204,800 Oc. $198,720 Od. $1,310,310

Q: Soar, Inc. manufactures a product that has the direct materials standard cost presented below.…

A: Materials Price Variance = (Standard price - Actual price) x Actual quantity = [2.50 -…

Q: feaman expects to produce 1,750 units in January and 2,150 units in February. The company budgets…

A: Solution:- Preparation of Direct Material budget as follows under:- Direct Material budget shows how…

Q: The Ace Company sells a single product at a budgeted selling price per unit of $40. Budgeted fixed…

A: Solution:- 1)calculation of Budgeted operating income for 10,400 units as follows:- Note:- Fixed…

Q: Mandy Corporation sells a single product. Budgeted sales for the year are anticipated to be 607,000…

A: Direct materials: It is the basic input required to manufacture the finished products. The…

Q: NOVOMAT manufactures and sells a single product from a single raw material. In its production…

A: Total raw material variances= Standard cost - actual cost Material price variance=  Material price…

Q: NUBD Co. has the following budget estimates for its second year of operations: Projected sales –…

A: Net income=Sale×12%=P 3,500,000×12%=P 420,000

Q: Soar, Inc. manufactures a product that has the direct materials standard cost presented below…

A: Calculation of material price Variance  Material price Variance = (Standard material price per pound…

Q: KC Home expects to manufacture and sell 50,000 chairs in the coming year for RM5 each. There are…

A: Budgets are the forecasts or estimates that are being made for future period of time. Budgets do not…

Q: NUBD Company manufactures a single product. It keeps its inventory of finished goods at 75% of the…

A: In this problem given units are sales unit and not production unit.

Q: Sales are expected to be 15,500 units at $46.00 each. Each unit requires 3 pounds of direct…

A: Budgeted cost of goods sold is the estimated total of all the expenses incurred by a company to…

Q: Mandy Corporation sells a single product. Budgeted sales for the year are anticipated to be 642,000…

A: A budget refers to the estimation made by the company or an individual for the revenue and expenses…

Q: Stephanie Corporation sells a single product. Budgeted sales for the year are anticipated to be…

A: Given, Budgeted sales = 640,000 units Estimated beginning inventory = 108,000 units Desired ending…

Q: enfrow International manufactures and sells a single product. In preparing its master budget for the…

A: Solution c: Ending finished goods inventory will be arrived by first computing average unit cost.…

Q: Stephanie Corporation sells a single product. Budgeted sales for the year are anticipated to be…

A: Budgeted sales 691000 Less Beginning Inventory 108000 Add Ending Inventory 83000…

Q: jones inc. computes its buidgeted production for direct materials at 15,000 units. each unit…

A: The production budget is prepared in order to determine the expected inventory to be purchased in…

Q: Mandy Corporation sells a single product. Budgeted sales for the year are anticipated to be 649,000…

A: The answer is option a. Firstly we need to find the produced units by using the following formula:…

Q: Mandy Corporation sells a single product. Budgeted sales for the year are anticipated to be 680,000…

A: Introduction: Direct materials are materials and resources used in the production of a product that…

Q: Beech Company produced and sold 105,000 units of its product in May. For the level of production…

A:

Q: Orange Corporation has budgeted sales of 23,000 units, targeted ending finished goods inventory of…

A: Number of units to be sold next year = Beginning finished goods inventory + units produced next year…

Q: The Dixon Company begins the budget period with 20 pounds in Materials Inventory costing $1.50 per…

A: FIFO is first in first out inventory valuation method under which inventory which is purchased first…

Q: Honesty Company prepared the following budgeted information for the coming year: Factory overhead…

A: Applied Overhead Rate = Estimated Overhead CostsEstimated Activity of Base Unit

Q: Nevis Corporation manufactures and sells a single product. In preparing the budget for the first…

A: Planned production = Budgeted number of units in ending inventory + Budgeted Sales - Actual units in…

Q: Evanson Company expects to produce 564,000 units of their product during the year. Monthly…

A: Solution Evanson Company Monthly Flexible Manufacturing budgeting Activity level…

Q: Stephanie Corporation sells a single product. Budgeted sales for the year are anticipated to be…

A: 1. Direct material - This is the raw material that is used to produce a product. The cost of this…

Q: Mandy Corporation sells a single product. Budgeted sales for the year are anticipated to be 644,000…

A:

Q: Antique Brass Company has budgeted sales volume of 122,000 units and budgeted production of 114,000…

A: Ending Finished goods inventory:-It is a closing inventory to calculates the cost of finished goods…

Q: Þlanton Manufacturing plans to produce 20,000 units, 24,000 units, and 30,000 units, respectively,…

A: Desired ending inventory  = Total direct material required for production for next month x 40%…

Q: Mandy Corporation sells a single product. Budgeted sales for the year are anticipated to be 627,000…

A: The correct answer is option (b).

Q: The same information below will be repeated for the next three questions. Freezit manufactures…

A: Direct Material price variance = (Actual price per kg- Standard price per kg)*Actual quantity…

Q: Howard Temple, Inc., expects to sell 20,000 pool cues for $12.00 each. Direct materials costs are…

A: Cost of goods sold is direct cost of producing the unit sold by a company. Cost of Goods Sold =…

Q: Yordi expects to produce 1,900 units in January and 2,160 units in February. The company budgets…

A: The process of budgeting is used to plan the operations of the entity and its departments. To create…

Q: A Company manufactures and sells one product which requires 8 kg of raw material in its manufacture.…

A: We have the following information: A Company manufactures and sells one product which requires 8 kg…

Q: Evanson Company expects to produce 576,000 units of their product during the year. Monthly…

A: Formulas:

Q: Evanson Company expects to produce 516,000 units of their product during the year. Monthly…

A:

Q: Nevis Corporation manufactures and sells a single product. In preparing the budget for the first…

A: The cost of goods sold is calculated as difference between cost of goods available for sale and…

Q: Stephanie Corporation sells a single product. Budgeted sales for the year are anticipated to be…

A: The budget is prepared at the beginning of the period by the company.

Q: Stephanie Corporation sells a single product. Budgeted sales for the year are anticipated to be…

A:

Q: Nevis Corporation manufactures and sells a single product. In preparing the budget for the first…

A: Answer a) Calculation of Planned production of Finished goods Budgeted Production = Budgeted Ending…

Q: Orange Corporation has budgeted sales of 20 000 ​units, targeted ending finished goods inventory of…

A: Units to be Produced = Number of units budgeted to be sold + Target ending Finished goods inventory…

Q: Wade Company expects to produce 6,000 units of product IOA during the current year. Budgeted…

A: Introduction: A static budget is something that does not change as activity levels change. As a…

Q: Stephanie Corporation sells a single product. Budgeted sales for the year are anticipated to be…

A: Number of units to be produced is based on the budgeted sales units, taking into consideration…

Q: Use the information below for Mandy Corporation to answer the question that follow. Mandy…

A: The dollar amount of material is calculated by multiplying the amount per unit of material by the…

Q: Mandy Corporation sells a single product. Budgeted sales for the year are anticipated to be 640,000…

A: Given: Budgeted sales for the year (anticipated) - 640,000 Estimated Beginning Inventory - 98,000…

Q: Botani Ltd. is budgeting to use 6,000 units of material during the year. Production will be…

A: The question is related to Inventory Management. In the given question details are given regarding…

Q: Zeus Corporation has budgeted sales of 20 000 ​units, targeted ending finished goods inventory of 4…

A: Number of units to be produced: =Budgeted Sales +ending inventory levels -beginning inventory levels…

Q: During the first quarter, skeleton produced 60,000 units and incurred total manufacturing costs of…

A: A budget that is prepared for a certain level of output is known as a fixed budget. On the other…

Q: Use the information below for Mandy Corporation to answer the question that follow. Mandy…

A: Anticipated Sale of Units = 643,000 Units Estimated Beginning Inventory = 105,000 Units Desired…

Q: Orange Corporation has budgeted sales of 26,000 units, targeted ending finished goods inventory of…

A: Number of units to be produced  next year  = Budgeted sales + Budgeted ending inventory of finished…

Q: Mandy Corporation sells a single product. Budgeted sales for the year are anticipated to be 625,000…

A: The budget is prepared by the management on the basis of past experience. On the basis of the…

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.