Question
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?
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