QUESTION 1 Philomena Gibert Company makes one product and it provided the following information to help prepare the master budget for its first four months of operations a. The budgeted selling price per unit is $70. Budgeted unit sales for June July August, and September are 8,400, 10,000, 12,000, and 13,000 units, respectively All sales are on credit b. Forty percent of credit sales are collected in the month of the sale and 60% in the following month c. The ending finished goods inventory equals 20% of the following month's unit sales. d. The ending raw materials inventory equals 10% of the folowing month's raw materials production needs. Each unit of finished goods requires 6 pounds of raw materials. The raw materials cost $2.00 per pound e. Thirty percent of raw materials purchases are paid for in the month of purchase and 70% in the following month 1. The direct labor wage rate is $15 per hour. Each unit of finished goods requires two direct labor hours The variable selling and administrative expense per unit od 3 51.80. The flwed selling and administrativo expenso per month in 300,000 What are the budgeted sabon for September? a $700,000 b. 5568,000 C $910,000 Od: $540,000 QUESTION 2 Philomena Gilbert Company makes one product and it provided the following information to help prepare the master budget for its first four months of operations a. The budgeted selling price per unit is $70. Budgeted unit sales for June July August, and September are 8,400. 10,000, 12.000 and 13,000 units, respectively All sales are on credit b. Forty percent of credit sales are collected in the month of the sale and 60% in the following month. c. The ending finished goods inventory equals 20% of the following month's unit sales d. The ending raw materials inventory equals 10% of the following month's raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $2.00 per pound. e. Thirty percent of raw materials purchases are paid for in the month of purchase and 70% in the following month 1. The direct labor wage rate is $15 per hour. Each unit of finished goods requires two direct labor-hours. 9. The variable selling and administrative expense per unit sold is 81.80. The fixed selling and administrative expense per month is $60,000 What are the expected cash collections for September? a. $868,000 b. $632,800 c$756,000 d. 5910,000 QUESTION 3 Philomena Gibert Company makes one product and it provided the following information to help prepare the master budget for its first four months of operations: a. The budgeted selling price per unit is $70. Budgeted unit sales for June July August, and September are 8.400, 10,000, 12,000, and 13,000 units, respectively All sales are on credit b. Forly percent of credit sales are collected in the month of the sale and 60% in the following month c. The ending finished goods inventory equals 20% of the following month's unit sales d. The ending raw materials inventory equals 10% of the following month's raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $2.00 per pound. a. Thirty percent of raw materials purchases are paid for in the month of purchase and 70% in the following month, 1. The direct labor wage rate is $15 per hour. Each unit of finished goods requires two direct labor-hours 9. The variable selling and administrative expense per unit sold is $1.60. The fixed selling and administrative expense per month is $60.000 How many units should be produced in August according to the production budget? O a 12.000 OD 14,000 O c. 10,400 d. 12,200 QUESTION 4 Philomena Gibert Company makes one product and it provided the following information to help prepare the master budget for a first four months of operation The budgeted selling price per unit is 70. Budpoled undtals for June July August, and September are 8.400 10.000 12,000, and 13,000 units, respectively All sales are on credit b. Forty percent of credit sales are collected in the month of the sale and 60% in the following month c. The ending finished goods inventory equals 20% of the following month's unk sales d. The ending raw materials inventory equals 10% of the following month's raw materials production needs. Each unit of finished goods requires 5 pounds of row material. The raw materials cost $2.00 per pound. o Thirty percent of raw materials purchases are paid for in the month of purchase and 70%n the following month 1. The direct labor wage rate is $15 per hour. Each unit of finished goods requires two direct labor hours a The variatie ving and administrative expense per un cod 51.00. The firedeling and administrative expense per month is 500,000 161.000 pounds of raw materials are needed to meet production in August, now many pounds of raw material should be purchased in Jy a 59,900 6:58, 100 O 01,000 Od. 67.100
