Green River Company is preparing its master budget for 2012. Relevant data Prepare sales, production, and...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Green River Company is preparing its master budget for 2012. Relevant data Prepare sales, production, and pertaining to its sales, production, and direct materials budgets are as follows. direct materials budgets (503) Sales: Sales for the year are expected to total 1,000,000 units. Quarterly sales are 20%.25%, 25%. and 30%, respectively. The sales price is expected to be $40 per unit for the first three quarters and $45 per unit beginning in the fourth quarter. Sales in the first quarter of 2013 are expected to be 10% higher than the budgeted sales for the first quarter of 2012 Production: Management desires to maintain the ending finished goods inventories at 20% of the next quarter's budgeted sales volume. Direct materials: Each unit requires 2 pounds of raw materials at a cost of $10 per pound. Man- agement desires to maintain raw materials inventories at 10% of the next quarter's production requirements. Assume the production requirements for first quarter of 2013 are 500,000 pounds Prepare the sales, production, and direct materials budgets by quarters for 2012. Green River Company is preparing its budgeted income statement for 2012 Relevant data pertaining to its sales, production, and direct materials budgets can be found in Do it! 23-2 above. In addition, Green River budgets 0.3 hours of direct labor per unit, labor costs at $14 per hour, and manufacturing overhead at $20 per direct labor hour. Its budgeted selling and admin istrative expenses for 2012 are $7,000,000. (a) Calculate the budgeted total unit cost. (b) Prepare the budgeted income statement for 2012. Algerian Company management wants to maintain a minimum monthly cash bal ance of $20,000. At the beginning of April, the cash balance is $22,000, expected cash receipts for April are $245,000, and cash disbursements are expected to be $256,000. How much cash, if any, must be borrowed to maintain the desired minimum monthly balance? Calculate budgeted total unit cost and prepare budgeted income statement (504) Determine amount of financing needed (505) Green River Company is preparing its master budget for 2012. Relevant data Prepare sales, production, and pertaining to its sales, production, and direct materials budgets are as follows. direct materials budgets (503) Sales: Sales for the year are expected to total 1,000,000 units. Quarterly sales are 20%.25%, 25%. and 30%, respectively. The sales price is expected to be $40 per unit for the first three quarters and $45 per unit beginning in the fourth quarter. Sales in the first quarter of 2013 are expected to be 10% higher than the budgeted sales for the first quarter of 2012 Production: Management desires to maintain the ending finished goods inventories at 20% of the next quarter's budgeted sales volume. Direct materials: Each unit requires 2 pounds of raw materials at a cost of $10 per pound. Man- agement desires to maintain raw materials inventories at 10% of the next quarter's production requirements. Assume the production requirements for first quarter of 2013 are 500,000 pounds Prepare the sales, production, and direct materials budgets by quarters for 2012. Green River Company is preparing its budgeted income statement for 2012 Relevant data pertaining to its sales, production, and direct materials budgets can be found in Do it! 23-2 above. In addition, Green River budgets 0.3 hours of direct labor per unit, labor costs at $14 per hour, and manufacturing overhead at $20 per direct labor hour. Its budgeted selling and admin istrative expenses for 2012 are $7,000,000. (a) Calculate the budgeted total unit cost. (b) Prepare the budgeted income statement for 2012. Algerian Company management wants to maintain a minimum monthly cash bal ance of $20,000. At the beginning of April, the cash balance is $22,000, expected cash receipts for April are $245,000, and cash disbursements are expected to be $256,000. How much cash, if any, must be borrowed to maintain the desired minimum monthly balance? Calculate budgeted total unit cost and prepare budgeted income statement (504) Determine amount of financing needed (505)
Expert Answer:
Related Book For
Posted Date:
Students also viewed these accounting questions
-
Green River Company is preparing its master budget for 2012. Relevant data pertaining to its sales, production, and direct materials budgets are as follows. Sales: Sales for the year are expected to...
-
Convex Mechanical Supplies produces a product with the following costs as of July 1, 2012: Material ............................... $ 6 Labor .................................. 4 Overhead...
-
Auto insurance companies are beginning to consider raising rates for those who use cell phones while driving. A consumer group claims that the problem really isn't too serious because only 10% of...
-
How can a plaintiff avoid the application of an exclusion of liability clause?
-
What is the difference between bivariate regression and multiple regression?
-
Mississippi Manufacturing, Inc., reported the following at December 31, 2014 and December 31, 2015: Stockholders Equity Preferred stock, cumulative, $2.00 par, 6%, 70,000 shares issued .... $ 140,000...
-
Helix Corporation uses the weighted - average method in its process costing system. It produces prefabricated flooring in a series of steps carried out in production departments. All of the material...
-
By using Christopher Stone's arguments, briefly explain why managers do not only have moral responsibility to make profits for the shareholders and comply with the law. What is the responsibility of...
-
Write an Essay in the importance of effective communication in the business environment with reference
-
A common trick for a show dog is to jump vertically upward off its hind legs. A particular dog of mass = 1 1 . 6 k g m=11.6 kg shows off its jumping ability by jumping straight up and rising = 0 . 4...
-
How do gender roles affect how we see same sex marriages and their children?
-
When is it appropriate to write in a casual tone, and when is it appropriate to write in a formal tone
-
Konwill Enterprises Sdn. Bhd. is local company selling incense. Its mission is to distribute the finest quality natural products, and continuous improving the quality of life of ourselves and the...
-
Is water back-up coverage always included in a the policy? What does it cover? Identify a claim scenario where this coverage may be needed?
-
Subtract the polynomials. (-x+x-5) - (x-x + 5)
-
Crane l uses 10 kJ of energy to lift a 50 kg box to the roof of a building. Crane 2 uses 20 kl to lift a 100 kg box the same distance. Which crane is more efficient? A. Crane 1 B. Crane 2 C. Both...
-
A glassblower heats up a blob of glass in a furnace, increasing its temperature by \(1000^{\circ} \mathrm{C}\). By how many kelvins does its temperature increase?
-
Which of the following changes would allow your refrigerator to use less energy to run? (There may be more than one correct answer.) A. Increasing the temperature inside the refrigerator B....
Study smarter with the SolutionInn App