Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1. Below is budgeted production and sales information for Fleming Company for the month of December: Product X Product Y Estimated beginning inventory 29,426 units

1. Below is budgeted production and sales information for Fleming Company for the month of December: Product X Product Y Estimated beginning inventory 29,426 units 18,085 units Desired ending inventory 34,012 units 146,599 units Region I, anticipated sales 304,847 units 265,272 units Region II, anticipated sales 183,049 units 142,793 units The unit selling price for product X is $7 and for product Y is $13. What is the budgeted production for product X during the month? Select the correct answer.

a. 487,896 units b. 521,908 units c. 492,482 units d. 483,310 units

2. Kidder Company began its operations on March 31 of the current year. Projected manufacturing costs for the first three months of business are $157,636, $199,856, and $216,822, respectively, for April, May, and June. Depreciation, insurance, and property taxes represent $27,295 of the estimated monthly manufacturing costs. Insurance was paid on March 31, and property taxes will be paid in November. Three-fourths of the remainder of the manufacturing costs are expected to be paid in the month in which they are incurred, with the balance to be paid in the following month. What are the cash payments for manufacturing in the month of June? Select the correct answer.

a. $157,636 b. $97,756 c. $162,006 d. $185,286

3.Kidder Company began its operations on March 31 of the current year. Projected manufacturing costs for the first three months of business are $158,775, $199,334, and $207,922, respectively, for April, May, and June. Depreciation, insurance, and property taxes represent $29,457 of the estimated monthly manufacturing costs. Insurance was paid on March 31, and property taxes will be paid in November. Three-fourths of the remainder of the manufacturing costs are expected to be paid in the month in which they are incurred, with the balance to be paid in the following month. What are the cash payments for manufacturing in the month of April? Select the correct answer.

a. $119,081 b. $158,775 c. $39,694 d. $96,989

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

New Markets Tax Credit IRS Audit Technique Guide

Authors: Internal Revenue Service

1st Edition

1304112896, 978-1304112897

More Books

Students also viewed these Accounting questions

Question

Conduct an effective performance feedback session. page 360

Answered: 1 week ago