Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

need answer Petitin Carporation makes one product and it provided the following information to help prepere the mavier budpet for the next four months of

need answer
image text in transcribed
Petitin Carporation makes one product and it provided the following information to help prepere the mavier budpet for the next four months of operetions a. The budgeted selling price per unit is $110. Gudgeted unit sales for January, February, March, ahd April are 7500,10,600,12,000, and 11,700 units respecthely. All sales are on credit. b. Aegarding credit sales, 30x are collected in the month of the sale and 70x in the following month. c. The ending finished goods inventory equals 30% of the following month's sales. d. The endling raw materlais imventory equals 10% of the following month's raw materlals production needs. Each unit of finished goeds requires 5 pounds of raw materials. The raw moterlals cost $4.00 per pound. e. Aegarding raw materiais purchases, 403 are pald for in the month of purchase and 60% in the following month. 1. The direct labor wage rate is $23.00 per hout Each unit of finished goods requires 2.6 direct laber-hours. g. Manufacturing overhead is entirely variable and is $8.00 per direct labor-hout, h. The varlable seding and administrative expense per unit sold is $170. The fixed selling and administrative expense per month is $70,000. The estimated selling and administrative expense for Februory is closest to: Mutiple Choice 588,020 $70,000 $18,020

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

Cost Determination A Conceptual Approach

Authors: Joel S. Demski

1st Edition

0813803608, 978-0813803609

More Books

Students also viewed these Accounting questions

Question

What is job rotation ?

Answered: 1 week ago