Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Croy Inc. has the following projected sales for the next five months: Month Sales in Units April 3,470 May 3,865 June 4,510 July 4,180 August

image text in transcribedimage text in transcribedCroy Inc. has the following projected sales for the next five months: Month Sales in Units April 3,470 May 3,865 June 4,510 July 4,180 August 3,920 Croys finished goods inventory policy is to have 50 percent of the next months sales on hand at the end of each month. Direct materials costs $2.50 per pound, and each unit requires 2 pounds. Direct materials inventory policy is to have 50 percent of the next months production needs on hand at the end of each month. Direct materials on hand at March 31 totaled 3,668 pounds. Required: 1. Determine budgeted production for April, May, and June. 2. Determine budgeted cost of materials purchased for April and May.

Croy Inc. has the following projected sales for the next five months: Month April May June July August Sales in Units 3,470 3,865 4,510 4,180 3,920 Croy's finished goods inventory policy is to have 50 percent of the next month's sales on hand at the end of each month. Direct materials costs $2.50 per pound, and each unit requires 2 pounds. Direct materials inventory policy is to have 50 percent of the next month's production needs on hand at the end of each month. Direct materials on hand at March 31 totaled 3,668 pounds. Required: 1. Determine budgeted production for April, May, and June. 2. Determine budgeted cost of materials purchased for April and May. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine budgeted production for April, May, and June. (Do not round your intermediate calculations and round your final answers to the nearest whole number.) April May June Budgeted Production (Units) Croy Inc. has the following projected sales for the next five months: Sales in Units 3,470 Month April May June July August 3,865 4,510 4,180 3,920 Croy's finished goods inventory policy is to have 50 percent of the next month's sales on hand at the end of each month. Direct materials costs $2.50 per pound, and each unit requires 2 pounds. Direct materials inventory policy is to have 50 percent of the next month's production needs on hand at the end of each month. Direct materials on hand at March 31 totaled 3,668 pounds. Required: 1. Determine budgeted production for April, May, and June. 2. Determine budgeted cost of materials purchased for April and May. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine budgeted cost of materials purchased for April and May. (Use rounded Budgeted Production units in intermediate calculations. Round your answers to 2 decimal places.) April May Budgeted Cost of Material Purchased

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_2

Step: 3

blur-text-image_3

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

Principles Of Food Beverage And Labor Cost Controls

Authors: Paul R. Dittmer, J. Desmond Keefe III

9th Edition

0471783471, 978-0471783473

More Books

Students also viewed these Accounting questions