Answered step by step
Verified Expert Solution
Question
1 Approved Answer
need help plz with accounting for these 5 questions plz Direct Materials Purchases Budget Coca-Cola Enterprises (CCE) is the largest bottler of Coca-Cola in Western
need help plz with accounting for these 5 questions plz
Direct Materials Purchases Budget Coca-Cola Enterprises (CCE) is the largest bottler of Coca-Cola in Western Europe. The company purchases Coke and Sprite concentrate from The Coca-Cola Company (K0), dilutes and mixes the concentrate with carbonated water, and then fills the blended beverage into cans or plastic two-liter bottles. Assume that the estimated production for Coke and Sprite two-liter bottles at the Wakefield, UK, bottling plant is as follows for the month of May: \begin{tabular}{lr} Coke & 153,000 two-liter bottles \\ Sprite & 86,500 two-liter botties \end{tabular} In addition, assume that the concentrate costs $75 per pound for both Coke and Sprite and is used at a rate of 0.15 pound per 100 liters of carbonated water in blending Coke and 0.10 pound per 100 liters of carbonated water in blending Sprite. Assume that two liters of carbonated water are used for each two-liter bottle of finished product. Assume further that two-liter bottles cost $0.08 per bottle and carbonated water costs $0.06 per liter. Prepare a direct materials purchases budget for May, assuming inventories are ignored, because there are no changes between beginning and ending inventories for concentrate, bottles, and carbonated water. Static Budoet versus Plexible Budget: The production supervisor of the Machining Department for Hogentomen Company bereed to the following monthly static budpet for the upcoming vear: The actual amount spent and the actual units produced in the first three months in the Machining Department were as follows: The Machining Department supervibor has been very pleased wich this performance because actuat txpenditures for May-July have been significantly less than the monthly static budget of 850,000. Howevec, the plant manager believes that the bodget should not remain foced for every month but sould "flex" or adjust to the volume of work that. is produced in the Machining Department. Additional budget information for the Nechining Desortment is as follows: a. Prepare a Fexible budget for the actual units produced for May, June, and July in the Machining Department. Assume depreciation is a foxed cost. If required, use per unt amounts carried out to twe decimal places. b. Compare the firevile budget with the actual expenditures for the frst three monehs. The Machining Oesartment kas performed better than onginaly thought. The desartment is speading more than would be expected. Personal Budget At the beginning of the school year, Craig Kovar decided to prepare a cash budget for the months of September, October, November, and December. The budget must plan for enough cash on December 31 to pay the spring semester tuition, which is the same as the fall tuition. The following information relates to the budget: a. Prepare a cash budget for September, October, November, and December. Use the minus sign to indicate cash outflows, a decrease in cash or cash poyments. b. Are the four monthly budgets that are presented prepared as stabe budpets or ferible budgets? Natic- - c. What are the budget implications for Craig Kovar? budget but went ahead with the original plan, he would be 1 ent at the end of December, with no time left to adjust. Direct Materials Purchases Budget Anticipated sales for Safety Grip Company were 42,000 passenger car tires and 13,000 truck tires. Rubber and steel belts are used in producing passenger car and truck tires as follows: The purchase prices of rubber and steel are $3.20 and $4.20 per pound, respectively. The desired ending inventories of rubber and steel belts are 39,000 and 9,000 pounds, respectively. The estimated beginning inventories for rubber and steel belts are 46,000 and 7,000 pounds, respectively. Prepare a direct materials purchases budget for Safety Grip Company for the year ended December 31, 20 Y9. Schedule of Cash Collections of Accounts Receivable OfficeMart Inc. has "cash and carry" customers and credit customers. OfficeMart estimates that 25% of monthly sales are to cash customers, while the remaining sales are to credit customers. Of the credit customers, 25% pay their accounts in the month of sale, while the remaining 75% pay their accounts in the month following the month of sale. Projected sales for the next three months are as follows: The Accounts Receivable balance on September 30 was $90,000. Prepare a schedule of cash collections from sales for October, November, and December. Round all calculations to the nearest whole dollar Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started