Symphony Electronics produces wireless speakers for outdoor use on patios, decks, etc. Their most popular model...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Symphony Electronics produces wireless speakers for outdoor use on patios, decks, etc. Their most popular model is the All Weather and requires four separate XL12 components per unit. The company is now planning raw material needs for the second quarter. Sales of the All Weather are the highest in the second quarter of each year as customers prepare for the summer season. The company has the following inventory requirements: a. The finished goods inventory on hand at the end of each month must be equal to 14,500 units plus 10% of the next month's sales. The finished goods inventory on March 31 is budgeted to be 28,800 units. b. The raw materials inventory on hand at the end of each month must be equal to 20% of the following month's production needs for raw materials. The raw materials inventory on March 31 for XL 12 is budgeted to be 97,800 components. c. The company maintains no work in process inventories. A sales budget for the All Weather speaker is as follows: Budgeted Sales in Units 130,000 147,000 214,000 101,000 60,500 April Мay June July August Required: 1. Prepare a production budget for the All Weather for April, May, June and July. April May June July Budgeted sales (units) Total needs Required production 2. Prepare a direct materials purchases budget showing the quantity of XL 12 components to be purchased for April, May and June and for the quarter in total. Second April May June Quarter Required production (units) XL 12 components needed per unit Production needs Total XL 12 needs Material XL 12 purchases Symphony Electronics produces wireless speakers for outdoor use on patios, decks, etc. Their most popular model is the All Weather and requires four separate XL12 components per unit. The company is now planning raw material needs for the second quarter. Sales of the All Weather are the highest in the second quarter of each year as customers prepare for the summer season. The company has the following inventory requirements: a. The finished goods inventory on hand at the end of each month must be equal to 14,500 units plus 10% of the next month's sales. The finished goods inventory on March 31 is budgeted to be 28,800 units. b. The raw materials inventory on hand at the end of each month must be equal to 20% of the following month's production needs for raw materials. The raw materials inventory on March 31 for XL 12 is budgeted to be 97,800 components. c. The company maintains no work in process inventories. A sales budget for the All Weather speaker is as follows: Budgeted Sales in Units 130,000 147,000 214,000 101,000 60,500 April Мay June July August Required: 1. Prepare a production budget for the All Weather for April, May, June and July. April May June July Budgeted sales (units) Total needs Required production 2. Prepare a direct materials purchases budget showing the quantity of XL 12 components to be purchased for April, May and June and for the quarter in total. Second April May June Quarter Required production (units) XL 12 components needed per unit Production needs Total XL 12 needs Material XL 12 purchases
Expert Answer:
Answer rating: 100% (QA)
1 Production Budget April May June July Budgeted sales units 130000 147000 214000 10... View the full answer
Related Book For
Cost Accounting A Managerial Emphasis
ISBN: 978-0133392883
6th Canadian edition
Authors: Horngren, Srikant Datar, George Foster, Madhav Rajan, Christ
Posted Date:
Students also viewed these accounting questions
-
A particular production process requires two types of raw materials to produce the end product. Each unit of finished product requires three units of raw material A and 2 units of raw material B and...
-
Company S shipped goods costing $10,000 to Company C on consignment. The sales agreement states that Company C has 90 days to either sell the goods and pay Company S $16,000 for them or to return the...
-
The Summer Outdoor Furniture Company produces wooden lawn chairs. The annual demand from its store customers is 17,400 chairs per year. The transport and handling costs are $2,600 each time a...
-
4. What are the three categories of transactions in the balance of payments? Give an example of each. 5. Economists sometimes say that the current exchange rate system is a dirty float system. What...
-
Indicate whether each of the following statements specify descriptive statistics ( because it describes sets of actual observations) or inferential statistics ( because it generalizes beyond sets of...
-
A manufacturing company owns a major piece of equipment that depreciates at the (continuous) rate f = f(t) , where is the time measured in months since its last overhaul. Because a fixed cost A is...
-
A common procedure in metallurgy is solidification from a melt in a cylindrical mold. If the Jacob number is small we can use the pseudo-steady-state model, which should now include the conduction in...
-
A firm reported comprehensive income of $376 million for 2009, consisting of $500 million in operating income (after tax) less $124 million of net financial expenses (after tax). It also reported the...
-
The following is information for Palmer Company. Year 3 Year 2 Year 1 Cost of goods sold $ 6 3 8 , 8 2 5 $ 4 2 1 , 6 5 0 $ 3 8 6 , 3 0 0 Ending inventory 9 6 , 9 0 0 8 7 , 2 5 0 9 2 , 0 0 0 Use the...
-
Design the 4-to-1 MUX two ways Write a Verilog module called mux4to1 to implement 4-to-1 multiplexer using functional descriptions and if-else blocks. Write another Verilog module called...
-
Write a report on the establishment of a new franchisee that was opened by you as the Manager. Also cite why the previous one was closed. Please follow the following format: Cover Page Index...
-
5. We denote fn as the n-th Fibonacci number. (a) Prove the following statement by induction: For n 1, 12 +3 4 + ... + (1)n-n = (1)n-1 + (1)n-n = (1)n-1 n(n + 1) 2 - n-1 (b) Prove by induction that...
-
What does this code print (unless it produces an error)? b = a= [1, 2] [] b.append(a) a.append(3) print (b) O [1, 2, 3] O An error occurs O [3] O [[1,2,3]] O [1,2]
-
Hacktivists and state actors are huge threats to government systems. What is the main difference between hacktivists and state actors? Group of answer choices Hacktivists are covertly sponsored by a...
-
Define the reason that makes the array a static structure. (1 point) O Its data type can be changed at the runtime but not the length. Its length can be incremented at runtime because the random...
-
What is the value (in hexadecimal) in $t0 after following instructions? Assume $t0 = 0x87651234. Show ALL your work. s11 SEO, SEO, 12 srl SEO, SEO, 20 andi $t0, $t0, 0xFF00
-
Prompt: Tobacco companies are frequently criticized for targeting potential customers below the legal age to purchase and use their products. Critics cite Joe Camel and the Marlboro man as images...
-
The liquidliquid extractor in Figure 8.1 operates at 100F and a nominal pressure of 15 psia. For the feed and solvent flows shown, determine the number of equilibrium stages to extract 99.5% of the...
-
News Mogul Group has two major divisions: Print and Internet. Summary financial data (in millions) for 2012 and 2013 are as follows: The two division managers' annual bonuses are based on division...
-
Tropical Fruits Inc. processes tropical fruit into a fruit salad mix, which it sells to a food-service company. Tropical Fruits has in its budget the following standards for the direct materials...
-
Non-profit institution. The City of Vancouver makes an $850,000 lump-sum budget appropriation to run a safe injection site for a year. All the appropriation is to be spent. The variable costs average...
-
In a two-tailed hypothesis test of a claim about a proportion, the P-value is the area to the right of the standard score, z. Decide whether the statement makes sense (or is clearly true) or does not...
-
Find a news article or research report that describes (perhaps not explicitly) a hypothesis test for a population proportion. Attach the article and summarize the method used.
-
The claim of p < 0.25 can never be supported if the sample proportion p is greater than 0.25. Decide whether the statement makes sense (or is clearly true) or does not make sense (or is clearly...
Study smarter with the SolutionInn App