Production Budget Healthy Measures Inc. produces a Bath and Gym version of its popular electronic scale. The anticipated unit sales for the scales by sales region are as follows: Bath Scale Gym Scale Northern Region unit sales 27,600 37,900 Southern Region unit sales 29,800 31,300 Total 57,400 69,200 The finished goods inventory estimated for March 1, for the Bath and Gym scale models is 1,300 and 2,300 units, respectively. The desired finished goods inventory for March 31 for the Bath and Gym scale models is 900 and 2,500 units, respectively. Prepare a production budget for the Bath and Gym scales for the month ended March 31. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Healthy Measures Inc. Production Budget For the Month Ending March 31 Units Bath Scale Units Gym Scale Expected units to be sold Desired Inventory, March 31 Total units available Estimated inventory, March 1 Total units to be produced eBook Calculator rint Item Staff Partners Professional Labor Cost Budget for a Service Company Lundquist & Fretwell, CPAs, offer three types of services to clients: auditing, tax, and small business accounting. Based on experience and projected growth, the following billable hours have been estimated for the year ending May 31, 2018: Billable Hours Audit Department: 25,000 6,000 Tax Department: Staff 40,000 Partners 8,500 Small Business Accounting Department: Staff 5,000 Partners 500 Based on the data provided above and assuming that the average compensation per hour for staff is $40 fid for partners is $175, prepare a professional labor cost budget for each department for Lundquist & Fretwell, CPAS, for the year ending May 31, 2018 Lundquist & Fretwell, CPA Professional Labor Cost Budget For the Year Ending December 31, 2018 Staff Partners Audit Department hours Tax Department hours Small Business Accounting Department hours Total hours Average compensation per hour Total professional labor cost eBook Calculator Print Item Direct Materials Purchases Budget Anticipated sales for Safety Grip Company were 59,000 passenger car tires and 18,000 truck tires. Rubber and steel belts are used in producing passenger car and truck tires as follows: Passenger Car Truck Rubber 30 lbs. per unit 70 lbs. per unit Steel belts 7 lbs. per unit 18 lbs. per unit The purchase prices of rubber and steel are $3.70 and $4.80 per pound, respectively. The desired ending inventories of rubber and steel belts are 55,000 and 12,000 pounds, respectively. The estimated beginning inventories for rubber and steel belts are 65,000 and 10,000 pounds, respectively. Prepare a direct materials purchases budget for Safety Grip Company for the year ended December 31, 2019. Safety Grip Company Direct Materials Purchases Budget For the Year Ending December 31, 2019 Rubber Steel Belts Total Pounds required for production: Passenger tires lbs. Truck tires Desired inventory, December 31, 2019 Total pounds available lbs. Estimated Inventory, January 1, 2049 lbs. Ibs. lbs. lbs. Total units purchased Unit price Total direct materials to be purchased Schedule of Cash Collections of Accounts Receivable Pet Supplies Inc., a pet wholesale supplier, was organized on January 1. Projected sales for each of the first three months of operations are as follows: January $200,000 February 290,000 March 400,000 All sales are on account. 51% of sales are expected to be collected in the month of the sale, 45% in the month following the sale, and the remainder in the second month following the sale. Prepare a schedule indicating cash collections from sales for January, February, and March. Pet Supplies Inc. Schedule of Cash Collections from Sales For the Three Months Ending March 31 January February March January sales on account: Collected in January 11.000 x Collected in February 82,000 X Collected in March 8,000 February sales on account: Collected in February 159.500 X Collected in March 118,900 X March sales on account: Collected in March 220,000 X Total cash collected 346,900 X Feedback