Montalbo Design Inc. sells a variety of porcelain products including porcelain sinks. In December 31, the...

 

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Montalbo Design Inc. sells a variety of porcelain products including porcelain sinks. In December 31, the company had 1,000 sinks in inventory. The company's policy is to maintain a sink inventory equal to 5% of next month's sales. The company expects the following sales activity for the first quarter of the year as: January February March What is the projected production for February? 2 Violin Company's sales budget shows the following expected sales for the following year Quarter First Second Third Fourth Total 15,000 sinks 20,000 sinks 23,000 sinks Units 120,000 160,000 90,000 110,000 480,000 The inventory at December 31 of the prior year was budgeted at 36,000 units. The quantity of finished goods inventory at the end of each quarter is to equal 30% of the next quarter's budgeted unit sales. How many units should be produced during the first quarter? May June July August 3 Dhalia Company estimated its overhead to produce 80,000 units at P1,000,000 (60% is variable). If the estimated changes, and Dhalia now expects to produce 100,000 units, what would be the budgeted overhead be if the cost behavior remains the same? 4 Michelle Company manufactures a single product. It keeps its inventory of finished goods at twice the coming month's budgeted sales and inventory of raw materials at 150% of the coming month's budgeted production requirements. Each units of products requires two pounds of materials. The production budgets in units consists of the following: 1,000 1,200 1,300 1600 Raw materials purchases in June would be: 5 Star Company budgeted purchases of P100,000. Cost of sales was P120,000 and the desired ending inventory was P42,000. The beginning inventory was 6 If the required direct materials purchases are 8,000 pounds and the direct materials required for production is three times the direct materials purchases, and the beginning direct materials are three and a half times the direct materials purchases, what are the desired ending direct materials in pounds? 7 Lopez Company has P299,000 in accounts receivable on January 1, 2020. Budgeted sales for January are P860,000. Selerum expects to sell 20% of its merchandise for cash. Of the remaining sales, 75% are expected to be collected in the month of sale and the remainder the following month. The January cash collections from sales are: 8 Marine Company has a collection schedule of 60% during the month of sales, 15% the following month and 15% subsequently. The total credit sales in the current month of September were P80,000 and total collections in September were P57,000. What were the credit sales in July? Montalbo Design Inc. sells a variety of porcelain products including porcelain sinks. In December 31, the company had 1,000 sinks in inventory. The company's policy is to maintain a sink inventory equal to 5% of next month's sales. The company expects the following sales activity for the first quarter of the year as: January February March What is the projected production for February? 2 Violin Company's sales budget shows the following expected sales for the following year Quarter First Second Third Fourth Total 15,000 sinks 20,000 sinks 23,000 sinks Units 120,000 160,000 90,000 110,000 480,000 The inventory at December 31 of the prior year was budgeted at 36,000 units. The quantity of finished goods inventory at the end of each quarter is to equal 30% of the next quarter's budgeted unit sales. How many units should be produced during the first quarter? May June July August 3 Dhalia Company estimated its overhead to produce 80,000 units at P1,000,000 (60% is variable). If the estimated changes, and Dhalia now expects to produce 100,000 units, what would be the budgeted overhead be if the cost behavior remains the same? 4 Michelle Company manufactures a single product. It keeps its inventory of finished goods at twice the coming month's budgeted sales and inventory of raw materials at 150% of the coming month's budgeted production requirements. Each units of products requires two pounds of materials. The production budgets in units consists of the following: 1,000 1,200 1,300 1600 Raw materials purchases in June would be: 5 Star Company budgeted purchases of P100,000. Cost of sales was P120,000 and the desired ending inventory was P42,000. The beginning inventory was 6 If the required direct materials purchases are 8,000 pounds and the direct materials required for production is three times the direct materials purchases, and the beginning direct materials are three and a half times the direct materials purchases, what are the desired ending direct materials in pounds? 7 Lopez Company has P299,000 in accounts receivable on January 1, 2020. Budgeted sales for January are P860,000. Selerum expects to sell 20% of its merchandise for cash. Of the remaining sales, 75% are expected to be collected in the month of sale and the remainder the following month. The January cash collections from sales are: 8 Marine Company has a collection schedule of 60% during the month of sales, 15% the following month and 15% subsequently. The total credit sales in the current month of September were P80,000 and total collections in September were P57,000. What were the credit sales in July?

Answer rating: 100% (QA)

1 Projected Production for February The companys policy is to maintain a sink inventory equal to 5 of next months sales January sales 15000 sinks Febr... View the full answer