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Hello Expert! Here is a toughy for me but im sure nothing too difficult for you to manage. I will be perfectly honest, i have

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Hello Expert!

Here is a toughy for me but im sure nothing too difficult for you to manage. I will be perfectly honest, i have been stuck on this question all day because of its multiple components and miscalculations. I was able to do the first part with the correct numbers but the rest seems very much impossible for me. any help would be greatly appreciated! ALSO! YES THIS IS ALL ONE QUESTION! The first time i posted this question someone didnt respond to all of the compents that I have put up. Please make sure you are looking at all 10 components.

Thank you!

ZIGBY MANUFACTURING Estlmated Balance Sheet March 31, 2015 Assets Cash Accounts recelvable Raw materials Inventory Finished goods Inventory $ 65,000 434,850 87,505 374,640 Total current assets Equipment, gross Accumulated depreclation 961,995 624,000 (162,000) Equipment, net 462,000 Total assets $1,423,995 Liabilities and Equity Accounts payable Short-term notes payable 199,405 24,000 Total current llabilities Long-term note payable $ 223,405 520,000 Total lablities Common stock Retalned earnings 743,405 347,000 333,590 Total stockholders' equity 680,590 Total llablities and equity $1,423,995 To prepare a master budget for April, May, and June of 2015, management gathers the following Information. a. Sales for March total 22,300 units. Forecasted sales In units are as follows: April, 22,300; May, 16,300; June, 22,700; July, 22,300. Sales of 252,000 units are forecasted for the entire year. The product's selling price is $26.00 per unlt and ts total product cost Is $21.00 per unlt. b. Company policy calls for a given month's ending raw materials inventory to equal 50% of the next month's materlals requirements. The March 31 raw materials Inventory Is 4,375 units, which complles with the policy. The expected June 30 ending raw materials Inventory is 5,200 units. Raw materials cost $20 per unit. Each finlshed unlt requlres 0.50 units of raw materials C. Company policy calls for a given month's ending finished goods inventory to equal 80% of the next month's expected unit sales. The March 31 finished goods Inventory is 17,840 units, which complles with the policy d. Each finished unit requires 0.50 hours of direct labor at a rate of $15 per hour e. Overhead is allocated based on direct labor hours. The predetermined varlable overhead rate Is $3.90 f. Sales representatives' commissions are 10% of sales and are paid in the month of the sales. The sales g. Monthly general and administrative expenses include $24,000 administrative salaries and 0.9% monthly per direct labor hour. Depreclation of $31,670 per month is treated as fixed factory overhead. managers monthly salary is $4,200 Interest on the long-term note payable The company expects 25% of sales to be for cash and the remaining 75% on credit. Receivables are collected In full In the month following the sale (none is collected In the month of the sale). i. All raw materials purchases are on credit, and no payables arise from any other transactions. One month's raw materials purchases are fully paid In the next month

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