Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2)Mindful Corp has following data to prepare the materials purchase budget Q1 Required Production in units 2,964.00 Q2 Required Production in units 2,584.00 Q3 Required

image text in transcribed
image text in transcribed
2)Mindful Corp has following data to prepare the materials purchase budget Q1 Required Production in units 2,964.00 Q2 Required Production in units 2,584.00 Q3 Required Production in units 2,356.00 Q4 Required Production in units 2,774.00 1st Quarter Beg raw materials inventor 1185.60 kg 1st Quarter Beg Accounts Payable $5,631.600 Each unit materials weight 0.76kg Each kg costs: $1.52 Desired Inventory is 7.6% of next quarter purchase Desired ending inventory for 4th quarter 1193.20 kg 75% Current quarter purchase paid in current quarter 25% Current quarter purchase paid in next quarter Please prepare the materials purchase budget. 1) Maple Ridge Corp has the following sales data forecast for the coming year Q1 Budgeted sales in units 3,760.00 Q2 Budgeted sales in units 4,700.00 Q3 Budgeted sales in units 5,640.00 Q4 Budgeted sales in units 5,170.00 Selling price/ per unit $9.40 Sales collection in current quarter 65% Sales collection in next quarter 30% Uncollectible 5% Last year outstanding A/R $37,835.00 Last year ending inventory 940.00 desired ending inventory is 7.05% of next quarter budgeted sales in units desired ending inventory for the forth quarter is 1057.50 Please prepare the Sales and Production Budget

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Accounting questions