Croy Inc. has the following projected sales for the next five months: Sales in Units Month...
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Croy Inc. has the following projected sales for the next five months: Sales in Units Month April 3,450 May 3,825 June 4,530 4,150 July August 3,940 Croy's finished goods inventory policy is to have 50 percent of the next month's sales on hand at the end of each month. Direct materials costs $2.70 per pound, and each unit requires 2 pounds. Direct materials inventory policy is to have 50 percent of the next month's production needs on hand at the end of each month. Direct materials on hand at March 31 totaled 3,638 pounds. Required: 1. Determine budgeted production for April, May, and June. 2. Determine budgeted cost of materials purchased for April and May. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine budgeted production for April, May, and June. (Do not round your intermediate calculations and round your final answers to the nearest whole number.) April May June Budgeted Production (Units) < Required 1 Required 2 > Required 1 Required 2 Determine budgeted cost of materials purchased for April and May. (Use rounded Budgeted Production units in intermediate calculations. Round your answers to 2 decimal places.) April May Budgeted Cost of Material Purchased < Required 1 Required 2 > Croy Inc. has the following projected sales for the next five months: Sales in Units Month April 3,450 May 3,825 June 4,530 4,150 July August 3,940 Croy's finished goods inventory policy is to have 50 percent of the next month's sales on hand at the end of each month. Direct materials costs $2.70 per pound, and each unit requires 2 pounds. Direct materials inventory policy is to have 50 percent of the next month's production needs on hand at the end of each month. Direct materials on hand at March 31 totaled 3,638 pounds. Required: 1. Determine budgeted production for April, May, and June. 2. Determine budgeted cost of materials purchased for April and May. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine budgeted production for April, May, and June. (Do not round your intermediate calculations and round your final answers to the nearest whole number.) April May June Budgeted Production (Units) < Required 1 Required 2 > Required 1 Required 2 Determine budgeted cost of materials purchased for April and May. (Use rounded Budgeted Production units in intermediate calculations. Round your answers to 2 decimal places.) April May Budgeted Cost of Material Purchased < Required 1 Required 2 >
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Solution Requirement 1 Budgeted Production for April May and June April May June July Sales ... View the full answer
Related Book For
Managerial Accounting
ISBN: 978-0078025518
2nd edition
Authors: Stacey Whitecotton, Robert Libby, Fred Phillips
Posted Date:
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