Question: Review your results from Short Exercise S22 3 Yoder has
Review your results from Short Exercise S22- 3. Yoder has 200 luggage sets on hand on January 1 and desires to have an ending inventory equal to 10% of the next month’s sales. March sales are expected to be 1,800 luggage sets. Use this information and the sales budget prepared in Short Exercise S22- 3 to prepare Yoder’s production budget for January and February.
Answer to relevant QuestionsYoder budgets $ 65 per luggage set for direct materials. Indirect materials are insignificant and not considered for budgeting purposes. The balance in the Raw Materials Inventory account (all direct materials) on January 1 ...Refer to the Yoder’s direct materials budget prepared in Short Exercise S22- 5. Assume Yoder pays for direct materials purchases 50% in the month of purchase and 50% in the month after purchase. The Accounts Payable ...Refer to the Grippers sales budget that you prepared in Short Exercise S22A- 15. Now assume that Grippers’ sales are collected as follows: S22- 1750% in the month of the sale 30% in the month after the sale 18% two months ...Grady, Inc. manufactures model airplane kits and projects production at 350, 425, 450, and 500 kits per quarter. Direct materials are $ 6 per kit. Indirect materials are considered insignificant and are not included in the ...Ling Auto Parts, a family- owned auto parts store, began January with $ 10,200 cash. Management forecasts that collections from credit customers will be $ 11,700 in January and $ 15,000 in February. The store is scheduled to ...
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