Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

  1. Tobins 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 16,500 24,300

    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 0.90 lb. per unit 1.50 lbs. per unit
    Tomato 0.60 1.00
    Cheese 0.80 1.30

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

    Dough Tomato Cheese
    Estimated inventory, November 1 610 lbs. 160 lbs. 330 lbs.
    Desired inventory, November 30 640 lbs. 160 lbs. 360 lbs.
    Price per pound $1.10 $2.10 $3.20

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

    Tobins Frozen Pizza Inc. Direct Materials Purchases Budget For the Month Ending November 30
    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 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

Financial Accounting Concepts And Applications

Authors: K. Fred Skousen, James D. Stice, Earl Kay. Stice, W. Steve Albrecht

7th Edition

0538876255, 978-0538876254

More Books

Students also viewed these Accounting questions

Question

What research interests does the faculty member have?

Answered: 1 week ago