Direct materials purchases budget Tobin's Frozen Pizza Inc. has determined from its production budget the following...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Direct materials purchases budget Tobin's Frozen Pizza Inc. has determined from its production budget the following estimated production volumes for 12" and 16" frozen pizzas for November: Budgeted production volume Units 12" Pizza Units 16" Pizza 71,000 51,000 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 Tomato 0.55 lb. per unit 0.80 lb. per unit 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 2,400 lbs. 900 lbs. 2,700 lbs. Desired inventory, November 30 Price per pound 1,900 lbs. $0.60 1,400 lbs. 2,600 lbs. $0.70 $0.95 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. Open spreadsheet 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. Round your final answers to the nearest dollar. Units required for production: 12" pizza 16" pizza Total units available Tobin's Frozen Pizza Inc. Direct Materials Purchases Budget For the Month Ending November 30 Dough Tomato Cheese Total Total units to be purchased Unit price x $ x $ Total direct materials to be purchased $ Direct materials purchases budget Tobin's Frozen Pizza Inc. has determined from its production budget the following estimated production volumes for 12" and 16" frozen pizzas for November: Budgeted production volume Units 12" Pizza Units 16" Pizza 71,000 51,000 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 Tomato 0.55 lb. per unit 0.80 lb. per unit 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 2,400 lbs. 900 lbs. 2,700 lbs. Desired inventory, November 30 Price per pound 1,900 lbs. $0.60 1,400 lbs. 2,600 lbs. $0.70 $0.95 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. Open spreadsheet 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. Round your final answers to the nearest dollar. Units required for production: 12" pizza 16" pizza Total units available Tobin's Frozen Pizza Inc. Direct Materials Purchases Budget For the Month Ending November 30 Dough Tomato Cheese Total Total units to be purchased Unit price x $ x $ Total direct materials to be purchased $
Expert Answer:
Related Book For
Accounting
ISBN: 978-0324401844
22nd Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
Posted Date:
Students also viewed these accounting questions
-
Calculate, in cm, the perimeter of a rectangle with a length of 13.5 cm and a width of 44 mm. Submit Answer Tries 0/10
-
Roma Frozen Pizza Inc. has determined from its production budget the following estimated production volumes for 12 and 16 frozen pizzas for November 2008: There are three direct materials used in...
-
. Current price of stock is $20 and expected price after one year is 22.5. If investor required return is 18%. What percentage of dividend should company pay?
-
Find the value of k that makes f(x) = kx (5 - x), 0 x 5, a valid PDF.
-
Outline the comprehensive review on the leadership book of Stephen R. Covey which is known as The Seven Habits of Highly Effective People.
-
Which of the following prevents a company from switching its inventory costing method to a different method each year? a. Disclosure principle b. Consistency principle C. Matching principle d....
-
I don't see that in my intermediate accounting text I saved from college, you explain to another member of the accounting division of Dowell Chemical Corporation. This will take some research. Your...
-
1. Payback Period and Net Present Value If a project with conventional cash flows has a payback period less than the projects life, can you definitively state the algebraic sign of the NPV? Why or...
-
Angela Lopez owns and manages a consulting firm called Metrix, which began operations on December 1. On December 31, Metrix shows the following selected accounts and amounts for the month of...
-
Using the information above. 1. Trace/graph the stages of production 2. Identify the point of diminishing returns 2 2 2 2 2 2 2 2 2 2 Units of Fixed Input Units of Variable Input (x) 0 1 2 3 4 5 6 7...
-
Braverman Company has two manufacturing departments-Finishing and Fabrication. The predetermined overhead rates in Finishing and Fabrication are $11.00 per direct labor-hour and 120% of direct...
-
1. What would the price of the following mutual fund be? It holds assets of $421,607,000 It has a liabilities percentage of .55% It has 985,213 shares 2. What would the price of the following mutual...
-
Hunter invested $970 in an account paying an interest rate of 7(1)/(4)% compounded continuously. Sofia invested $970 in an account paying an interest rate of 7(5)/(8)% compounded monthly. After 6...
-
Auld Inc. is in a declining industry. Sales, earnings, and dividends are all decreasing at a rate of 5% per year. Investors have a required return of 12% and the next dividend is expected to be...
-
The probability that a certain type of IC chip will fail after installation is 0.06. A memory board for a computer contains twelve such chips. The operation will be satisfactory if ten or more of the...
-
Aztec Furnishings makes hand-crafted furniture for sale in its retail stores. The furniture maker has recently installed a new assembly process, including a new sander and polisher. With this new...
-
Devin Morris invested $28,000 in the Townley and Starr partnership for ownership equity of $28,000. Prior to the investment, equipment was revalued to a market value of $100,000 from a book value of...
-
For the current year, Bearings Company decided to switch from the indirect method to the direct method for reporting cash flows from operating activities on the statement of cash flows. Will the...
-
Gannett Glass Company manufactures three types of safety plate glass: large, medium, and small. All three products have high demand. Thus, Gannett Glass is able to sell all the safety glass that it...
-
Prove: 'Bernoulli's equation is a restrictive form of energy equation'.
-
What are the assumption made for the establishment of Bernoulli's equation?
-
A pipe, through which water is flowing, has diameters \(30 \mathrm{~cm}\) and \(15 \mathrm{~cm}\) at cross-sections 1 and 2 respectively. The discharge of the pipe is \(40 \mathrm{~L} / \mathrm{s}\)....
Study smarter with the SolutionInn App