Question: Please show work for questions 7 through 11 if possible. Thank you very much. :) 7. first budget customarily prepared as part of an entity's
7. first budget customarily prepared as part of an entity's master budget is the........................................ 8. Smithfeld Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of business are S340,000, $380,000, and $420,000, respectively, for September, october, and November. The company expects to sell 20% of its merchandise for cash. Of the sales on account, 70% are expected to be collected in the month of the sale, 25% in the month following the sale, and the remainder in the following month. The cash collected in October from cash sales only is................................... S 9. The Martinez Company had a finished goods inventory of55,000 units on January 1. It's projected sales for the next four months were: January 200,000 units; February 180,000 units; March 210,000 units; and April 230,000 units. The Martinez Company wishes to maintain a desired ending finished goods inventory of 30% of the following month's sales. What would the budgeted inventory for February 28 be?.............................................................................................. 10. Which budget presents the expected inflow and outflow of cash for a specified period of time? 11. Budgeted production is 22,000 units. Each unit requires 0.70 pound of steel and 0.30 direct labor hour. Steel is purchased for $45 per pound, and direct labor is S18 per hour. Steel has an estimated beginning inventory of 700 units and a desired ending inventory of200 units. For the period, what is the budgeted direct labor costs
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