Answer the first nine (9) Quiz Questions using the following Information:

A.

The budgeted sales of UC Company for the current year are 20,000 units; 35,000 units; 25,000 units; and 30, 000 units for the months of July, August, September and October respectively.

B.

Sales price per unit is Php 180.00

C.

The company desires to have finishedgoods inventory equal to 20 percent of the unit sales for the next month. The units in beginning inventory on July 1stwas 4,000

D.

To produce one unit, three kilos of materials are required. Each kilo of material costs 20 pesos. Inventory levels for materials equal 30 percent of the needs for the next month.

E.

Planned ending inventory for the third quarter is 25,200 kilograms of material.Beginning inventory for the third quarter was 20,700 kilograms of material.

F.

Each unit requires .6 hours of direct labor and the average wage rate is Php 16 per hour.

G.

Variable overhead rate is Php 3.50 per direct labor hour while fixed overhead is Php 22,000 per month.

H.

The company pays a 3% commission on sales

I.

Monthly fixed selling and administrative expenses include:

RentPhp 6,000

Utilities1,200

Advertising400

Office Salaries35,000

1. What is the total sales budget for the quarter?
2. What is the total budgeted production in units for the quarter?
3. What is the Direct Materials total purchase cost budget for the quarter?
4. What is the total direct labor cost budget for the quarter?
5. What is the total overhead cost budget for the quarter?
6. What is the total selling and administrative expense budget for the quarter?
7. What is the total finished goods inventory budget for the quarter?
8. What is the total cost of goods sold budget for the quarter?
9. What is the Net Income (30% income tax rate) budget for the quarter?