Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please submit the answer by 11.55. CALE PRINT Problems 11 Indigo Company manufactures and sells a pesticide called Share. The following data are available for

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed please submit the answer by 11.55.
CALE PRINT Problems 11 Indigo Company manufactures and sells a pesticide called Share. The following data are available for preparing badigets for Snare for the best 2 waters of 2017 1. Sales quarter 1, 28,000 bags: quarter, 43,000 bags. Selling price is $6 per bag 2. Direct materials each bag of Snare requires 5 pounds of Gumin at a cost of $3.00 per pound and 6 pounds of that $1.75 per pound 3. Desired inventory levels Type of Inventory January 1 April 1 July 1 Stare (bag 8.100 12.400 18,400 Gummi (pounds) 9,200 10,400 13.500 Tart (pounds) 14,400 20,300 25,300 4. Direct labor direct labor time is 15 minutes per bag at an hourly rate of $14 per hour 5. Selling and administrative expenses are expected to be 15% of sales plus $177,000 per ouarter 6. Interest expenses $100,000 2. Income taxes are expected to be 30% of come before income taxe Your assistant has prepared two budgets (1) the manufacturing overhod budget shows expected costs to be 125 of direct labor com, and the deceasta este cool Tur purchases to be $362.000 in unter 1 and 5427,500 in quarter 2 Prepare the sales budget INDIGO COMPANY Sales Budget Quarter Six Months 2 Expected sales 1136 AINE Total sales Prepare the production budget INDIGO COMPANY Production Budget Quarter Sex Houthis Prepare the direct material budget. (Round cost per pound answers to decimal 53.10. INDIGO COMPANY Direct Materials Budget Quarter SEK Months 2 Prepare the direct labor budget. (Enter Direct laborime per unit hours for the portion was INDIGO COMPANY Direct Labor But Quarter Si Months dy $ Prepare the selling and administrative expense budget INDIGO COMPANY Selling and Administrative Expense budget Quarter SEN Months A DE Prepare the budgeted multiple-step income statement for the first months. (Round intermediate calculations to 2 decimal places and answers to decim INDIGO COMPANY Budgeted Income Statement y Click if you would like to Show Work for this questions Open Show Work By accessing this question Assistance, you will learn while you can points based on the point Potential Policy set by your structor O DIE D DELL

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

College Accounting Chapters 1 24

Authors: Douglas J. Mcquaig, Patricia Bille, Tracie L. Nobles

10th Edition

1439037752, 9781439037751

More Books

Students also viewed these Accounting questions