Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

This is an 8 section question. I only was able to figure out the first section. Please help. File Edit View Favorites Tools Help Dayforce

This is an 8 section question. I only was able to figure out the first section. Please help. image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
File Edit View Favorites Tools Help Dayforce HaM Suggested sites The managementorzigby Manufacturing prepared the Tollowing estimated balance sheet for March 2015 Estimated Balance Sheet 58,000 484,640 Raw materials inventory 393,304 Finished goods inventory 1027.234 Total current assets 636.000 Equipment, gross (68.000 Equipment, net 1,495,234 Total assets labilmes and Equity 206,390 Total current labitles 236,390 Long-term note payable 525,000 Total liabilues 761,390 353,000 Total stockholders' equry Total liabilites and equry To prepare a master budget for April. May end June of 2015, management gathers the following informaton. a sales for March total 23.3oo units Forecasted sales in units are as follows: April, 23.300 May, 17,000; June, 21,900. July, 23,300. Sales of 258.000 units are forecasted for the entire year The product's sell pnce $2600 per unit and its total product cost is $2110 per unn b. Company policy calls for a gven month's ending raw matenals inventory to equal 50% of the next month's policy. The expected The March 31 raw materials inventory is 4.565 units which with the unit. Each June 30 ending raw materials Inventory is 5.800 units, Raw cost $20 unt of maternals. materials c. Company policy for a given month's ending inventory to equal 80% of the next unit goods goods which with d Ench finished unit requires o 50 hours of durect labor at a rate of S hour e overhead allocated based on direct labor hours. The predetermined variable overhead rate is per direct labor hour Depreciation of $38 360 per month is treated as fixed factory overhead Sales commissions are 10% of sales ond paid in the month of the sales The sales Monthly general end administrstuve expenses include s30 opo administratve solanes and o B% interest on the long-term note payable expects 20 of sales to be for cash and the remaining 80 on credit Receivables are

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

Operational Auditing An Introduction With Suggested Answers To Discussion Questions

Authors: Darwin J. Casler

1st Edition

0894130978, 978-0894130977

More Books

Students also viewed these Accounting questions