Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Shadee Corp. expects to sell 550 sun visors in May and 350 in June. Each visor sells for $17. Shadee's beginning and ending finished goods

image text in transcribed
image text in transcribed
image text in transcribed
Shadee Corp. expects to sell 550 sun visors in May and 350 in June. Each visor sells for $17. Shadee's beginning and ending finished goods inventories for May are 80 and 50 units, respectively. Ending finished goods inventory for June will be 70 units. It expects the following unit sales for the third quarter: July August September 530 460 460 Sixty percent of Shadee's sales are cash. Of the credit sales, 54 percent is collected in the month of the sale, 40 percent is collected during the following month, and 6 percent is never collected. Required: Calculate Shadee's total cash receipts for August and September. (Do not round your intermediate calculations. Round your answers to the nearest whole dollar) August September Total Cash Receipts Croy Inc. has the following projected sales for the next five months: Month April May June July August Sales in Units 3.470 3,855 4,560 4,150 3.910 Croy's finished goods inventory policy is to have 50 percent of the next month's sales on hand at the end of each month. Direct materials costs $2.50 per pound, and each unit requires 2 pounds. Direct materials inventory policy is to have 50 percent of the next month's production needs on hand at the end of each month. Direct materials on hand at March 31 totaled 3,663 pounds. Required: 1. Determine budgeted production for April, May, and June. 2. Determine budgeted cost of materials purchased for April and May. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine budgeted production for April, May, and June. (Do not round your intermediate calculations and round your final answers to the nearest whole number.) April May June Budgeted Production (Units) 3,663 Required 2 > Croy Inc. has the following projected sales for the next five months: Month April May June July August Sale in Units 3,470 3,855 4,560 4,150 3.910 Croy's finished goods inventory policy is to have 50 percent of the next month's sales on hand at the end of each month. Direct materials costs $2.50 per pound, and each unit requires 2 pounds. Direct materials inventory policy is to have 50 percent of the next month's production needs on hand at the end of each month. Direct materials on hand at March 31 totaled 3,663 pounds Required: 1. Determine budgeted production for April May, and June. 2. Determine budgeted cost of materials purchased for April and May. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine budgeted cost of materials purchased for April and May. (Use rounded Budgeted Production units in intermediate calculations. Round your answers to 2 decimal places.) April May Budgeted Cost of Material Purchased

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

Students also viewed these Accounting questions