Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1) ABC company has the following information available to prepare their production budget: Budgeted Unit Sales October 2,000 November 6,000 They have a desired ending

1) ABC company has the following information available to prepare their production budget: Budgeted Unit Sales October 2,000 November 6,000 They have a desired ending inventory for production of 10% of next months budgeted unit sales. Beginning inventory was 200 units. How many units does ABC need to produce in October?

2) ABC company has the following information for their sales budget:

Budgeted Unit Sales

January sales

100,000

February sales

125,000

March sales

150,000

Each unit sells for $5. How much revenue is budgeted for January, February, and March total?

3) ABC company has the following information for their sales budget:

Budgeted Unit Sales

January sales

100,000

February sales

125,000

March sales

150,000

Each unit sells for $5. How much revenue is budgeted for January, February, and March total?

4) ABC company has the following information available to prepare their sales budget:

Budgeted Unit Sales

October

2,000

November

4,500

December

3,000

Each unit is sold for $15. How much sales revenue is budgeted for November?

5) ABC company has the following information to prepare their production budget:

Budgeted Unit Sales

September

8,000

October

10,000

November

12,000

They desire an ending inventory of 25% of next months budgeted sales. Beginning inventory was 2,000 units. How many units need to be produced in September?

6) ABC company has operating income of $100,000, interest expense of $10,000, and a corporate tax rate of 30%. What is ABC company's net income?

Question 6 options:

$27,000

$63,000

$90,000

$100,000

7) ABC company has the following information available to prepare their sales budget:

Budgeted Unit Sales

October

2,000

November

4,500

December

3,000

Each unit is sold for $20. How much sales revenue is budgeted for October?

Question 7 options:

$60,000

$190,000

$90,000

$40,000

8) ABC company has the following information to prepare their direct materials budget:

Units to be produced

April

12,500

May

10,750

It takes 2 pounds of material to produce each unit at a cost of $5.00 per pound. ABC company desires to have 20% of materials required for the following month's production in ending inventory. Beginning inventory is 2,500. What is the total cost of direct materials fir April to meet production needs?

Question 8 options:

$146,500

$134,000

$53,600

$112,500

9) ABC company has the following information available to prepare their direct labor budget:

Units to be produced

January

1,250

February

2,000

March

3,500

Each unit requires 5 hours of direct labor. Direct labor workers are paid an average of $25 per hour. What is the total direct labor cost budgeted for the first quarter?

10) ABC company's sales are 30% cash, and 70% credit.

For credit sales the company collects 40% one month after the sale, 30% two months after the sale, and 20% three months after the sale. Budgeted total sales for the upcoming four months are as follows:

June budgeted sales

$200,000

July budgeted sales

$100,000

August budgeted sales

$250,000

September budgeted sales

$125,000

What is the budgeted amount of total collections that will be collected in September?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Authors: James Jiambalvo

7th Edition

1119577721, 978-1119577720

More Books

Students also viewed these Accounting questions

Question

Find the median for the set of measurements 2, 9, 11, 5, 6, 27.

Answered: 1 week ago

Question

1 4 6 . ( SIS )

Answered: 1 week ago

Question

Go, do not wait until I come

Answered: 1 week ago

Question

Make eye contact when talking and listening

Answered: 1 week ago

Question

Do not go, wait until I come

Answered: 1 week ago