Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Prepare a Sales Budget. Toyota Motor is Preparing bugets for the quarter that ends in December 31 st . Budget Sales of Yaris Model for

  1. Prepare a Sales Budget. Toyota Motor is Preparing bugets for the quarter that ends in December 31st.

Budget Sales of Yaris Model for the next months are:

September 4,000 units

October 10,000 units

November 6,000 units

December 5,000 units

January 5,000 units

Selling Price is $16,000 per unit.

  1. The Management of Toyota Motor wants ending inventory to be equal to 1,000 sales units. On September 30, 2,000 units were on hand. Prepare a production budget.

  1. Prepare a Direct Material Budget, using the amount of $7,000 for the Direct Materials required per unit. Management dont want material on hand at the end of each month.

  1. Prepare a Direct Labor Budget. For the three months, the direct labor workforce will be paid for a flat rate of $10/hour. Required work hours are 2,000 hours per month.

  1. Prepare the Overhead Budget for the Quarter with the following information:

Indirect labor Oct = $10,000; Nov = $8,000; Dec = $8,000

Indirect Material Oct = $2,000; Nov = $2,000; Dec = $2,000

Utilities Oct = $5,000; Nov = $4,000; Dec = $6,000

Rent Oct = $50,000; Nov = $50,000; Dec = $50,000

Insurance Oct = $2,100; Nov = $2,000; Dec = $1,800

Maintenance Oct = $2,000; Nov = $21000; Dec = 2,500

Bonus! Write down the six steps in the Decision Making Process.

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

Advanced Financial Accounting

Authors: Clarence Byrd, Ida Chen

4th Edition

013089611X, 978-0130896117

More Books

Students also viewed these Accounting questions

Question

Differentiate between intelligence testing and achievement testing.

Answered: 1 week ago

Question

What is your view of spirituality in the workplace?

Answered: 1 week ago