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Prepare a Ending Finished Good Inventory, Cost of Goods Budget, and budgeted income statement for Jones Corporation. Please help me solve, and please show work
Prepare a Ending Finished Good Inventory, Cost of Goods Budget, and budgeted income statement for Jones Corporation. Please help me solve, and please show work and steps as to how you got the awnser to problem.
Jones Corporation Production Budget August September Total July 20,000 Sales 35,000 25,000 80,000 7,000 Add: Desired ending inventory 5,000 6,000 6,000 Total needs 27,000 40,000 31,000 86,000 Less: Beginning inventory 4,000 7,000 5,000 4,000 Units to be produced 23,000 33,000 26,000 82,000 Feedhack 4. Preparedne od budget for the thin: You have already calculated the desired ending finished ude inventory quantity. Assume a stabile per unit rate and round the per united factory overhead rate to two decimales.) Jones Corporation Ending Finished Goods very thulya Deure und wentary Du er Declat Overhead Wale worted DIU QDO tot H. Prepare a cost of goods sold budget for the quarter. Jones Corporation Cost of goods sold Budget Direct materials Direct labor Overhead Add: Beginning inventory Goods available for sale Less: Ending inventory Cost of goods sold 1. Prepare a budgeted income statement for the quarter-the company falls into the 35 percent tax bracket for income taxes. Jones Corporation Budgeted Income Statement Gross margin Net income Feedback Jones Corporation Production Budget August September Total July 20,000 Sales 35,000 25,000 80,000 7,000 Add: Desired ending inventory 5,000 6,000 6,000 Total needs 27,000 40,000 31,000 86,000 Less: Beginning inventory 4,000 7,000 5,000 4,000 Units to be produced 23,000 33,000 26,000 82,000 Feedhack 4. Preparedne od budget for the thin: You have already calculated the desired ending finished ude inventory quantity. Assume a stabile per unit rate and round the per united factory overhead rate to two decimales.) Jones Corporation Ending Finished Goods very thulya Deure und wentary Du er Declat Overhead Wale worted DIU QDO tot H. Prepare a cost of goods sold budget for the quarter. Jones Corporation Cost of goods sold Budget Direct materials Direct labor Overhead Add: Beginning inventory Goods available for sale Less: Ending inventory Cost of goods sold 1. Prepare a budgeted income statement for the quarter-the company falls into the 35 percent tax bracket for income taxes. Jones Corporation Budgeted Income Statement Gross margin Net income Feedback thank you
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