Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Vinal Cerporation makes one probuct and has prowided the following information to help prepare the rsaster budget for the nea four monthis of operations Credit
Vinal Cerporation makes one probuct and has prowided the following information to help prepare the rsaster budget for the nea four monthis of operations Credit sales are collocted: 300 in the month of the sale 70s in the following month Row materials purchases are paid: 20% in the month of purchase 809 in the following month The ending finished goods inventory should equal 20% of the following month's sales. The ending raw materials inverntory should equal 20% of the following month's raw materials production needs. Required: a. What are the budgeted soles for August? b. What are the expected cash collections for August? c. According to the production budget, how many units should be produced in August? d. If 39,680 pounds of raw materials are needed for production in September, how many pounds of raw materials should be purchased in August? e. What is the estimated cost of raw matorials purchases for August? f. If the cost of raw material purchases in July is $120,627, then in August what are the total estimated cash disbursements for raw materials purchases? 9. What is the total estimated direct labor cost for August assuming the direct labor workforce is adjusted to match the hours required to produce the forecasted number of units produced
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started