Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

Tobin's Frozen Pizza Inc. has determined from its production budget the following estimated production volumes for 12'' and 16'' frozen pizzas for November: Units 12

Tobin's Frozen Pizza Inc. has determined from its production budget the following estimated production volumes for 12'' and 16'' frozen pizzas for November:

Units
12" Pizza 16" Pizza
Budgeted production volume 70,000 50,000

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" Pizza 16" Pizza
Direct materials:
Dough 0.55 lb. per unit 0.80 lb. per unit
Tomato 0.25 0.40
Cheese 0.70 1.20

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

Dough Tomato Cheese
Estimated inventory, November 1 2,500 lbs. 1,000 lbs. 3,000 lbs.
Desired inventory, November 30 2,000 lbs. 1,200 lbs. 2,800 lbs.
Price per pound $0.50 $0.60 $0.85

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

Direct Materials Direct Materials Direct Materials
Dough Tomato Cheese Total
Units required for production:
12" pizza

fill in the blank 1

fill in the blank 2

fill in the blank 3

16" pizza

fill in the blank 4

fill in the blank 5

fill in the blank 6

Desired inventory, November 1Desired inventory, November 30Estimated inventory, November 1Estimated inventory, November 30Supervisor salaries

- Select -

- Select -

- Select -

Total units available

fill in the blank 11

fill in the blank 12

fill in the blank 13

Desired inventory, November 1Desired inventory, November 30Estimated inventory, November 1Estimated inventory, November 30Supervisor salaries

- Select -

- Select -

- Select -

Total units to be purchased

fill in the blank 18

fill in the blank 19

fill in the blank 20

Unit Price x $fill in the blank 21 x $fill in the blank 22 x $fill in the blank 23
Total direct materials to be purchased $fill in the blank 24 $fill in the blank 25 $fill in the blank 26 $fill in the blank 27

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Financial Accounting

Authors: Robert Libby, Patricia Libby, Daniel Short, George Kanaan, M

5th Canadian edition

9781259105692, 978-1259103285

Students also viewed these Accounting questions