Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 1 of 5 > View Policies .../1 E Current Attempt in Progress Bramble Company is preparing its master budget for 2022. Relevant data

image text in transcribed

Question 1 of 5 > View Policies .../1 E Current Attempt in Progress Bramble Company is preparing its master budget for 2022. Relevant data pertaining to its sales, production, and direct materials budgets are as follows. Sales: Sales for the year are expected to total 1,000,000 units. Quarterly sales are 25%, 25%, 25%, and 25%, respectively. The sales price is expected to be $40 per unit for the first three quarters and $45 per unit beginning in the fourth quarter. Sales in the first quarter of 2023 are expected to be 10% higher than the budgeted sales for the first quarter of 2022. Production: Management desires to maintain the ending finished goods inventories at 20% of the next quarter's budgeted sales volume. Direct materials: Each unit requires 2 kg of raw materials at a cost of $10 per kilogram. Management desires to maintain raw materials inventories at 10% of the next quarter's production requirements. Assume the production requirements for the first quarter of 2023 are 470,000 kg. (a1) Your answer has been saved. See score details after the due date. Prepare the sales budget by quarters for 2022. Unit sales Unit 1 250,000 40 $ 2 BRAMBLE COMPANY Sales Budget (in thousands) For the Year Ending December 31, 2022 250,000 40 price Total 10,000,000 $ 10,000,000 sales (a2) eTextbook and Media Your answer has been saved. See score details after the due date. Quarter 3 Prepare the production budget by quarters for 2022. (Round answers to 2 decimal places, eg. 15.25) (a3) 1 250,000 47,000 BRAMBLE COMPANY Production Budget (in thousands) For the Year Ending December 31, 2022 Quarter 2 250,000 47,000 3 250,000 47,000 297,000 297,000 297,000 250,000 10,000,000 4 Attempts: 1 of 1 used 250,000 47,000 25,000 25,000 25,000 25,000 272,000 eTextbook and Media 272.000 272.000 272,000 Prepare the direct materials budget by quarters for 2022. (Round answers to 2 decimal places, eg. 15.25) Units to be produced eTextbook and Media Save for Later Attempts: 1 of 1 used BRAMBLE COMPA Direct Materials Budget (in For the Year Ending Decem Attempts: 0 of 1 used Submit Answer

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

Principles of Fraud Examination

Authors: Joseph T. Wells

4th edition

1118922344, 9781118803264, 1118582888, 9781118922347, 1118803264, 978-1118582886

More Books

Students also viewed these Accounting questions