Answered step by step
Verified Expert Solution
Question
...
1 Approved Answer
Beginning - of - year balances Cash $ 1 0 , 0 0 0 Accounts receivables ( previous fourth quarter's sales ) $ 6 1
Beginningofyear balances Cash $ Accounts receivables previous fourth quarter's sales $ Raw materials Kits Finished Goods Units Accounts payablepurchases made in previous fourth quarter $ Desired endofyear inventory balances Raw materials kits Finished goods units Desired endofquarter balances Raw materials as a portions of the following quarter's production Finished goods as a portion of the following quarter's sales Manufacturing costs other than raw materials are paid in quarter incurred unless it is an noncash expense Variable Standard cost per unit Unit of input Unit price per input Total cost per unit Raw materials kit $ $ Direct labor hours at rate hour $ $ Variable overheadlabor hour hour $ $ Total Variable Standard cost per unit $ Fixed overhead cost per quarter used cash $ Manufacturing Depreciation per quarter $ Selling and administrative costs are paid in quarter incurred unless it is an noncash expense Variable cost per unit $ Fixed selling and administrative cost per quarter used cash $ Selling and administrative depreciation per quarter $ Portion of sales collected Collected in the quarter of sale Subsequent quarter Bad debts Portion of purchases paid Paid in the quarter of purchases Subsequent quarter Unit selling price $ Sales forecast Quarter First Second Third Fourth Unit sales
Beginningofyear balances
Cash $
Accounts receivables previous fourth quarter's sales $
Raw materials Kits
Finished Goods Units
Accounts payablepurchases made in previous fourth quarter $
Desired endofyear inventory balances
Raw materials kits
Finished goods units
Desired endofquarter balances
Raw materials as a portions of the following quarter's production
Finished goods as a portion of the following quarter's sales
Manufacturing costs other than raw materials are paid in quarter incurred unless it is an noncash expense
Variable Standard cost per unit Unit of input Unit price per input Total cost per unit
Raw materials kit $ $
Direct labor hours at rate hour $ $
Variable overheadlabor hour hour $ $
Total Variable Standard cost per unit $
Fixed overhead cost per quarter used cash $
Manufacturing Depreciation per quarter $
Selling and administrative costs are paid in quarter incurred unless it is an noncash expense
Variable cost per unit $
Fixed selling and administrative cost per quarter used cash $
Selling and administrative depreciation per quarter $
Portion of sales collected
Collected in the quarter of sale
Subsequent quarter
Bad debts
Portion of purchases paid
Paid in the quarter of purchases
Subsequent quarter
Unit selling price $
Sales forecast
Quarter First Second Third Fourth
Unit sales
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
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](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started