1. Romano's Frozen Pizza Inc. has determined from itsproduction budgetthe following estimated production volumes for 12'' and 16'' frozen pizzas for September:

Units12" Pizza16" PizzaBudgeted production volume12,60021,500

There are three direct materials used in producing the two types of pizza. The quantities of direct materials expected to be used for each pizza are as follows:

12" Pizza16" PizzaDirect materials:Dough0.90lb. per unit1.50lbs. per unitTomato0.601.00Cheese0.801.30

In addition, Romano's has determined the following information about each material:

DoughTomatoCheeseEstimated inventory, September 1620lbs.180lbs.360lbs.Desired inventory, September 30650lbs.170lbs.390lbs.Price per pound$1.20$2.80$3.10

Prepare September's direct materials purchases budget for Romano's Frozen Pizza Inc. For those boxes in which you must enter subtracted or negative numbers use a minus sign.

Romano's Frozen Pizza Inc.Direct Materials Purchases BudgetFor the Month Ending September 30DoughTomatoCheeseTotal

Units required for production:

12" pizza

16" pizza

Desired inventory, September 30

Total units available

Estimated inventory, September 1

Total units to be purchasedUnit Pricex $x $x $Total direct materials to be purchased$$$$

• Pet Place Supplies Inc., a pet wholesale supplier, was organized on May 1. Projected sales for each of the first three months of operations are as follows:

May$220,000

June270,000

July410,000

All sales are on account. Of sales on account, 52% are expected to be collected in the month of the sale, 43% in the month following the sale, and the remainder in the second month following the sale.

Prepare the schedule indicating cash collections from sales for May, June, and July.

1. Pet Place Supplies Inc.

Schedule of Cash Collections from Sales

For the Three Months Ending July 31

May sales on account:

Collected in May$

Collected in June$

Collected in July

June sales on account:

Collected in June

Collected in July

July sales on account:

Collected in JulyTotal cash collected$$$