Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Georgina, Inc. makes one product and it provided the following information to help prepare the master budget for the next three months of operations: -

image text in transcribedimage text in transcribedimage text in transcribed

Georgina, Inc. makes one product and it provided the following information to help prepare the master budget for the next three months of operations: - The budgeted selling price per unit is $130. - Budgeted unit sales are: - April - 10,200 units - May - 12,600 units - June - 8,600 units - The ending finished goods inventory equals 20\% of the following month's sales. - The ending raw materials inventory equals 15% of the following month's raw materials production needs. Each unit of finished goods requires 3 pounds of raw materials. The raw materials cost $5.00 per pound. - June's total pounds required for production is 20,200 . (Hint: you need this to compute desired ending inventory for Direct Materials Budget) Prepare a sales budget, production budget, direct materials budget for the month of May. (Enter only numbers, do not include any words, such as 'units'. Use \$ for amounts in dollars, and do not use a \$ for amounts in units. And use only whole dollars, no cents. Also, include the comma for to separate the thousands, i.e. 20,000) Production Budget \begin{tabular}{|l|l|l|} \hline Direct Materials Budget & & \\ \hline & & \\ \hline Units to Be Produced & & \\ \hline Direct Material per Unit & & \\ \hline Total Pounds Needed for Production & & \\ \hline Desired Ending Inventory & & \\ \hline Total Cost of Direct Material Purchase & \\ \hline Total Material Required & & \\ \hline Beginning Inventory & & \\ \hline Pounds of Direct Material Purchase & \\ \hline Requirements & & \\ \hline \end{tabular}

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

The Price Of Football Understanding Football Club Finance

Authors: Kieran Maguire

3rd Edition

1788216830, 978-1788216838

More Books

Students also viewed these Accounting questions

Question

=+2. Explain the interactions in the newspaper and magazine market!

Answered: 1 week ago