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The budgeted selling price per unit is $70. Budgeted unit sales for June, July , August, and September are 8,400, 10,000, 12,000, and 13,000 units,
The budgeted selling price per unit is $70. Budgeted unit sales for June, July , August, and September are 8,400, 10,000, 12,000, and 13,000 units, respectively. All sales are on credit.
The budgeted selling price per unit is $70. Budgeted unit sales for June, July , August, and September are 8,400, 10,000, 12,000, and 13,000 units, respectively. All sales are on credit. |
Forty percent of credit sales are collected in the month of the sale and 60% in the following month. |
The ending finished goods inventory equals 20% of the following month's unit sales. |
The ending raw materials inventory equals 10% of the following month's raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials the raw materials cost $2.00 per pound. |
Thirty percent of raw materials purchases are paid for in the month of purchase and 70% in the following month. |
The direct labor wage rate is $15 per hour. Each unit of finished goods requires two direct labor-hours. |
The variable selling and administrative expense per unit sold is $1.80. The fixed selling and administrative expense per month is $60,000.
use the above info for the questions below
What are the budgeted sales for July?
What are the budgeted sales for July? | |||||||
What are the expected cash collections for July? | |||||||
What is the accounts receivable balance at the end of July? | |||||||
According to the production budget, how many units should be produced in July? | |||||||
If 61,000 pounds of raw materials are needed to meet production in August, how many pounds of raw materials should be purchased in July? | |||||||
What is the estimated cost of raw materials purchases for July? |
What is the estimated cost of raw materials purchases for July? | |||||||
In July what are the total estimated cash disbursement for raw materials purchases? Assume the cost of raw materials purchases in June is $88,880. | |||||||
What is the estimated accounts payable balance at the end of July? | |||||||
What is the estimated raw materials inventory balance at the end of July? | |||||||
What is the total estimated direct labor cost for July? | |||||||
If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $10 per direct labor-hour, what is the estimated unit product cost? | |||||||
What is the estimated finished goods inventory balance at the end of July? | |||||||
What is the estimated cost of goods sold and gross margin for July? | |||||||
What is the estimated total selling and administrative expense for July? |
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