Assignment #15 - Chapter 9 Problem ACCT 11 2010 wewed or Mer Bear manufacture two products Produit And Product B. Ms. Sash Pound, the bride help with preparing operating and financial budget for the month of November 2010. She has the provided the following information for the month of Norber 2020: Aan Product A Product B Sales Datas Expected males volume in unita 650 000 350,000 Selling price per il $ 25 $40 90% we collected from customers in November 2020. The balance will be collected in December 2020 LUNUB Production Date: Units to beginning finished goods lavenery Unite desired landing finished goods inventory 40,000 60,000 30,000 40.000 W Fid E TE Direct Materials Datar Directorial required to manufacture one units) 2 Unita in beginning materials inventory 30,000 Unite desired in raw materials inventory 60,000 Cost of uw material per kilogram $ 2.50 80% of material purchases were paid for by cash in November 2020. There were able in December 2010 La A Inc 3 15.000 20,000 $ 3.00 She |8E Tots Direct Labour Date: Direct labour time required to manufacture one unit hours) Direct labourate per hour 100% of direct labour costs were paid for in November 2020 0.75 $15 1.00 5.15 Manufacturing Overhead Data: Variable overhead is expected to be the following per cani produced Fixed overhead 100% of manufacturing overhead were paid for by cash in November 2020 $ 0.00 $ 0.50 167.500 Selling & Administrative Data Variable selling & Administration is expected to be the following per un sold Fixed overhead 100% of selling & administrative expenses were paid for in cash 51.00 51.500.000 $ 1.50 $500.000 Other Datat Income Taxes 30% Income tax is not paid until December 2020 All recievables at November 1, 2020 were collected during the month All payable (ccounts payable and income tax payable) November 1, 2020 were paid during the month Accounts payable were a balance owed from purchase of uw material Required: Prepare the necessary operating and financul gets for the month ended November 30, 2030. Do not prepare the budgeted balance sheet MacBook Air Balance Sheet Product B As at October 31, 2020 20 350,000 $ 40 2p20 Assets Cash Accounts recievable Raw materials inventory Work-in-process inventory Finished goods inventory Equipment (net) Total Assets $2,000,000 $4,000,000 $170,000 50 $1,430,000 $4,500,000 $12,100,000 0 30,000 40,000 2 Liabilities Accounts payable Income tax payable $4,000,000 $1,600,000 3 15,000 20,000 $3.00 Shareholders' Equity Common Shares Retained Earnings Total Liabilities & Shareholders Equity 55,000,000 $1,500,000 $12.100.000 1.00 S 15 50 MacBook Air Frede FD pele Dewgowy geodallary ol be Com Telah LCalle DM Dube Maming Out Sing Admi In The Excel Fort Tot Da Maledon Freder Case de Dump Tell med fordi Dedding dimulai Begin materialer Direct me to pred Colper kilogram Dr Milch in Badget Asierte C Accounts recieve Dirtud Freda Worces Finished gode Equipe Tel Ant Product Total D watch Account Income Tec Sarholder SC Total & Share Man rest THE CALCULATION Th Product Total Sale Le Coat of Good Son Great 5. SO $0 WIP- D Meg M -RM Eding Selling & Administratives 50 50 Direct Income Tunesien Net Income Toa Nam Le WIP COON Unterwe Catalyst Beginning the A Cash Teal Cash Available Les Cashda Direct Material Duro Lab Manufacturing Selling & Admitive penes Inme Tas Ess of cash recept ever cash done.com Finan Erling Gas Botan vo, COM -FI COGS Tutal 59 S 5 Budgeted Balance Sheet Assets Cache Accoule Raw materials inventy Wuk-process Finished product Equipe Total Ass Liabilities ya Inume puble Shaders' Faily me Share Real Total Liabilitic & Shareholders in Check J.LV Done Assignment #5 - Chapter 92 al $0 S0 Note: Most textbooks will give you the cost data for producing each unit CALCULATIONS FOR COST OF GOODS SOLD Product A Product B Total WIP - Beginning S 0 SO SO Direct Material RM, Beginning $ 0 $0 S 0 +RM purchases $ 0 $0 $0 - RM, Ending $0 $0 SO $0 S 0 $ 0 Direct Labour SO S0 SO Manufacturing Overhead S 0 S0 $0 Total Manufacturing costs $ 0 SO $0 Less WIP, End SO $0 S 0 COGM so $ 0 S 0 Units Produced 0 0 Cost per unit $ 0 S 0 FG, Beginning + COGM SO $ 0 $0 -FG, Ending COGS MacBook Air Assignment #15 - Chapter 9 Problem ACCT 11 2010 wewed or Mer Bear manufacture two products Produit And Product B. Ms. Sash Pound, the bride help with preparing operating and financial budget for the month of November 2010. She has the provided the following information for the month of Norber 2020: Aan Product A Product B Sales Datas Expected males volume in unita 650 000 350,000 Selling price per il $ 25 $40 90% we collected from customers in November 2020. The balance will be collected in December 2020 LUNUB Production Date: Units to beginning finished goods lavenery Unite desired landing finished goods inventory 40,000 60,000 30,000 40.000 W Fid E TE Direct Materials Datar Directorial required to manufacture one units) 2 Unita in beginning materials inventory 30,000 Unite desired in raw materials inventory 60,000 Cost of uw material per kilogram $ 2.50 80% of material purchases were paid for by cash in November 2020. There were able in December 2010 La A Inc 3 15.000 20,000 $ 3.00 She |8E Tots Direct Labour Date: Direct labour time required to manufacture one unit hours) Direct labourate per hour 100% of direct labour costs were paid for in November 2020 0.75 $15 1.00 5.15 Manufacturing Overhead Data: Variable overhead is expected to be the following per cani produced Fixed overhead 100% of manufacturing overhead were paid for by cash in November 2020 $ 0.00 $ 0.50 167.500 Selling & Administrative Data Variable selling & Administration is expected to be the following per un sold Fixed overhead 100% of selling & administrative expenses were paid for in cash 51.00 51.500.000 $ 1.50 $500.000 Other Datat Income Taxes 30% Income tax is not paid until December 2020 All recievables at November 1, 2020 were collected during the month All payable (ccounts payable and income tax payable) November 1, 2020 were paid during the month Accounts payable were a balance owed from purchase of uw material Required: Prepare the necessary operating and financul gets for the month ended November 30, 2030. Do not prepare the budgeted balance sheet MacBook Air Balance Sheet Product B As at October 31, 2020 20 350,000 $ 40 2p20 Assets Cash Accounts recievable Raw materials inventory Work-in-process inventory Finished goods inventory Equipment (net) Total Assets $2,000,000 $4,000,000 $170,000 50 $1,430,000 $4,500,000 $12,100,000 0 30,000 40,000 2 Liabilities Accounts payable Income tax payable $4,000,000 $1,600,000 3 15,000 20,000 $3.00 Shareholders' Equity Common Shares Retained Earnings Total Liabilities & Shareholders Equity 55,000,000 $1,500,000 $12.100.000 1.00 S 15 50 MacBook Air Frede FD pele Dewgowy geodallary ol be Com Telah LCalle DM Dube Maming Out Sing Admi In The Excel Fort Tot Da Maledon Freder Case de Dump Tell med fordi Dedding dimulai Begin materialer Direct me to pred Colper kilogram Dr Milch in Badget Asierte C Accounts recieve Dirtud Freda Worces Finished gode Equipe Tel Ant Product Total D watch Account Income Tec Sarholder SC Total & Share Man rest THE CALCULATION Th Product Total Sale Le Coat of Good Son Great 5. SO $0 WIP- D Meg M -RM Eding Selling & Administratives 50 50 Direct Income Tunesien Net Income Toa Nam Le WIP COON Unterwe Catalyst Beginning the A Cash Teal Cash Available Les Cashda Direct Material Duro Lab Manufacturing Selling & Admitive penes Inme Tas Ess of cash recept ever cash done.com Finan Erling Gas Botan vo, COM -FI COGS Tutal 59 S 5 Budgeted Balance Sheet Assets Cache Accoule Raw materials inventy Wuk-process Finished product Equipe Total Ass Liabilities ya Inume puble Shaders' Faily me Share Real Total Liabilitic & Shareholders in Check J.LV Done Assignment #5 - Chapter 92 al $0 S0 Note: Most textbooks will give you the cost data for producing each unit CALCULATIONS FOR COST OF GOODS SOLD Product A Product B Total WIP - Beginning S 0 SO SO Direct Material RM, Beginning $ 0 $0 S 0 +RM purchases $ 0 $0 $0 - RM, Ending $0 $0 SO $0 S 0 $ 0 Direct Labour SO S0 SO Manufacturing Overhead S 0 S0 $0 Total Manufacturing costs $ 0 SO $0 Less WIP, End SO $0 S 0 COGM so $ 0 S 0 Units Produced 0 0 Cost per unit $ 0 S 0 FG, Beginning + COGM SO $ 0 $0 -FG, Ending COGS MacBook Air