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1. 2. 3. Croy Incorporated has the following projected sales for the next five months: Croy's finished goods inventory policy is to have 50 percent
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Croy Incorporated has the following projected sales for the next five months: Croy's finished goods inventory policy is to have 50 percent of the next month's sales on hand at the end of each month. Direct materials cost $2.80 per pound, and each unit requires 2 pounds. Direct materials inventory policy is to have 50 percent of the next month's production needs on hand at the end of each month. Direct materials on hand at March 31 totaled 3,690 pounds. Required: 1. Determine budgeted production for April, May, and June. 2. Determine budgeted cost of direct materials purchased for April and May. Complete this question by entering your answers in the tabs below. Determine budgeted production for April, May, and June. Note: Do not round your intermediate calculations and round your final answers to the nearest whole number. Determine budgeted cost of direct materials purchased for April and May. Note: Use rounded Budgeted Production units in intermediate calculations. The following information is available for Pioneer Company: - Sales price per unit is $100. - November and December sales were budgeted at 3,120 and 3,420 units, respectively. - Variable costs are 12 percent of sales (5 percent commission, 2 percent advertising, 5 percent shipping). - Fixed costs per month are sales salaries, $5,300; office salaries, $2,200; depreciation, $2,400; building rent, $3,900; insurance, $1,400; and utilities, $700. Required: Determine Pioneer's budgeted selling and administrative expenses for November and December. Martin Clothing Company is a retail company that sells hiking and other outdoor gear specially made for the desert heat. It sells to individuals as well as local companies that coordinate adventure getaways in the desert for tourists. The following information is available for several months of the current year: The majority of Martin's sales (70 percent) are cash, but a few of the excursion companies purchase on credit. Of the credit sales, 45 percent are collected in the month of sale and 55 percent are collected in the following month. All of Martin's purchases are on account with 50 percent paid in the month of purchase and 50 percent paid the following month. Required: 1. Determine budgeted cash collections for July and August. 2. Determine budgeted cash payments for July and August. Complete this question by entering your answers in the tabs below. Determine budgeted cash collections for July and August. Note: Round your intermediate calculations and final answers to nearest whole dollar. Determine budgeted cash payments for July and AugustStep by Step Solution
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