Question: I need help finding the solutions to 6 & 7. 6. The following are budgeted data: Sales [units] April 15,000 Production [units] May 20,000 18,000
I need help finding the solutions to 6 & 7.

6. The following are budgeted data: Sales [units] April 15,000 Production [units] May 20,000 18,000 19,000 June 18,000 16,000 Two pounds of material are required for each finished unit. The inventory of materials at the end of each month should equal 10% of the following month's production needs. Purchases of raw materials for May should be: a. 34,800 pounds b. 36,200 pounds c. 36,800 pounds d. 37,400 pounds e. None of the above. The answer is 7. The Khaki Corporation has the following budgeted sales data: 50 10 EA January February March April Cash Sales $ 70,000 $ 90,000 $ 80,000 $ 70,000 A Credit Sales $400,000 $450,000 $300,000 $320,000 ollie to yong e. None of the above. The answer is The regular pattern of collection of credit sales is 40% in the month of sale, 50% in the month following sale, and the remainder in the second month following the month of sale. There are no debts. The budgeted accounts receivable balance on February 28 would be: a. $250,000 c. $260,000 b. $255,000 d. $265,000 e. None of the above. The answer is January 400,000 1 160,000 ( 40% * 400,000) February 450, 010 1200,000 ( 50% X 400,000) 180,060 (40% X 450, O00) 090,801 600,60 40 , out
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
