Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Need all three. Thank you!! 11.) Glaston Company manufactures a single product using a JIT inventory system. The production budget indicates that the number of

Need all three. Thank you!! image text in transcribed
11.) Glaston Company manufactures a single product using a JIT inventory system. The production budget indicates that the number of units expected to be produced are 183,000 in October, 191,500 in November, and 188,000 in December. Glaston assigns variable overhead at a rate of $0.70 per unit of production. Fixed overhead equals $140,000 per month. Compute the total budgeted overhead that would appear on the factory overhead budget for month of October A. $323,000. B. $268,100. C. $274,050. D. $128,100. 12) A July sales forecast projects that 7,900 units are going to be sold at a price of $12.40 per unit. The management forecasts 15% growth in sales each month. Total July sales are anticipated to be: A. $97,960. B. $103,354. C. $62,000. D. $92,566. 13.) Memphis Company's May sales budget calls for sales of $990,000. The store expects to begin May with $59,000 of inventory and to end the month with $64,000 of inventory. Gross margin is typically 45% of sales. Compute the budgeted cost of merchandise purchases for May. A. $539,500. B. $549,500. C. $544,500. D. $445,500

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

Principles Of Financial Accounting

Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta

21st Edition

0077525264, 978-0077525262

More Books

Students also viewed these Accounting questions

Question

=+15. Did you create a campaign that would create buzz?

Answered: 1 week ago

Question

=+9. Did you answer the consumer's question Why buy?

Answered: 1 week ago