Accounting- plans to produce 8,000 units in June, what are budgeted sales for July

plans to produce 8,000 units in June, what are budgeted sales for July1. Topaz Company has the following expected pattern of collections on credit sales: 70 percent collectedin the month of sale, 15 percent in the month after the month of sale, and 14 percent in the secondmonth after the month of sale. The remaining 1 percent is never collected. At the end of May, TopazCompany has the following accounts receivable balances:From April salesFrom May sales$21,00048,000Topaz’s expected sales for June are $150,000. What were total sales for April?a. $150,000b. $72,414c. $70,000d. $140,0002. Jackson Company has a policy of maintaining an inventory of finished goods equal to 30 percent of thefollowing month’s sales. For the forthcoming month of March, Jackson has budgeted the beginninginventory at 30,000 units and the ending inventory at 33,000 units. This suggests thata. February sales are budgeted at 10,000 units less than March sales.b. March sales are budgeted at 10,000 units less than April sales.c. February sales are budgeted at 3,000 units less than March sales.d. March sales are budgeted at 3,000 units less than April sales.Budgeted sales for the first six months for Wardrope Corp. are listed below:UNITS:JANUARY6,000FEBRUARY7,000MARCH8,000APRIL7,000MAY5,000JUNE4,0003. Wardrope Corp. has a policy of maintaining an inventory of finished goods equal to 40 percent of thenext month’s budgeted sales. If Wardrope Corp. plans to produce 6,000 units in June, what are budgetedsales for July?a. 3,600 unitsb. 1,000 unitsc. 9,000 unitsd. 8,000 units4. Budgeted sales for the first six months for Shelton Corp. are listed below:UNITS:JANUARY5,000FEBRUARY6,000MARCH9,000APRIL8,000MAY6,000JUNE5,000Shelton Corp. has a policy of maintaining an inventory of finished goods equal to 30 percent of the nextmonth’s budgeted sales. If Shelton Corp. plans to produce 8,000 units in June, what are budgeted sales forJuly?a. 3,000 unitsb. 4,500 unitsc. 10,000 unitsd. 15,000 units5. Simmons Co. manufactures card tables. The company has a policy of maintaining a finished goodsinventory equal to 40 percent of the next month’s planned sales. Each card table requires 3 hours of labor.The budgeted labor rate for the coming year is $13 per hour. Planned sales for the months of April, May,and June are respectively 4,000; 5,000; and 3,000 units. The budgeted direct labor cost for June forSimmons Co. is $136,500. What are budgeted sales for July for Simmons Co.?a. 3,500 unitsb. 4,250 unitsc. 4,000 unitsd. 3,750 units6. Budgeted sales for Madonna Inc. for the first quarter the year are shown below:UNITS:JANUARY35,000FEBRUARY25,000MARCH32,000The company has a policy that requires the ending inventory in each period to be 10 percent of thefollowing period’s sales. Assuming that the company follows this policy, what quantity of productionshould be scheduled for February?a. 24,300 unitsb. 24,700 unitsc. 25,000 unitsd. 25,700 units7. Budgeted sales for Brittany Inc. for the second quarter the year are shown below:UNITS:APRIL40,000MAY30,000JUNE38,000The company has a policy that requires the ending inventory in each period to be 15 percent of thefollowing period’s sales. Assuming that the company follows this policy, what quantity of productionshould be scheduled for May?a. 28,800 unitsb. 29,700 unitsc. 25,000 unitsd. 31,200 units8. Budgeted sales for the first six months the year for Hooper Corporation are listed below:UNITS:JANUARY5,000FEBRUARY6,000MARCH7,000APRIL6,000MAY4,000JUNE3,000Hooper Corporation has a policy of maintaining an inventory of finished goods equal to 35 percent of thenext month’s budgeted sales. How many units has Hooper Corporation budgeted to produce in the firstquarter of the year?a. 18,350 unitsb. 17,650 unitsc. 22,000 unitsd. 22,050 units9. Production of Product B has been budgeted at 200,000 units for Novenber. One unit of Product B requires2 lbs. of raw material. The projected beginning and ending materials inventory for Novenber are:Beginning inventory: 2,000 lbs.Ending inventory: 10,000 lbs.How many lbs. of material should be purchased during Novenber?a. 192,000b. 208,000c. 408,000d. 416,00010. Production of Product 101 has been budgeted at 300,000 units for June. One unit of Product 101 requires3 lbs. of raw material. The projected beginning and ending materials inventory for June are:Beginning inventory: 4,000 lbs.Ending inventory: 16,000 lbs.How many lbs. of material should be purchased during June?a. 288,000b. 312,000c. 912,000d. 936,000Sky High CompanySky High Company manufactures toy airplanes. Information on Sky High Company’s labor costs follow:Sales commissionsAdministrationIndirect factory laborDirect factory labor$5 per plane$10,000 per month$3 per plane$5 per planeThe following information applies to the upcoming month of July for Sky High Company:Budgeted productionBudget sales1,200 units1,000 units11. Refer to Sky High Company. What amount of budgeted labor cost would appear in the July selling,general, and administrative expense budget?a. $10,000b. $16,000c. $15,000d. $23,00012. Refer to Sky High Company. What is Sky High’s budgeted factory labor cost for July?a. $8,000b. $15,600c. $25,600d. $9,60013. For the month of November, Hopkins Corporation. predicts total cash collections to be $1 million. Alsofor November, Hopkins Corporation. estimates that its beginning cash balance will be $50,000 and that itwill borrow cash in the amount of $70,000. If Hopkins Corporation. estimates an ending cash balance of$30,000 for November, what must its projected cash disbursements be?a. $1,090,000b. $1,120,000c. $1,070,000d. $1,020,00014. For the month of March, Burnham Corporation. predicts total cash collections to be $1.5 million. Also forMarch, Burnham Corporation. estimates that its beginning cash balance will be $60,000 and that it willborrow cash in the amount of $80,000. If Burnham Corporation. estimates an ending cash balance of$40,000 for March, what must its projected cash disbursements be?a. $1,520,000b. $1,580,000c. $1,600,000d. $1,640,000Payne CompaniesCompany ABeginning cash balanceCash collectionsCash disbursementsCash excess (shortage)Borrowing (repayments)Ending cashCASH BUDGETCompany BCompany C$100?500?300200$300400??100200$700?600400?10015. Refer to Payne Companies. For Company A, what are the budgeted cash collections?a. $700b. $500c. $300d. $40016. Refer to Payne Companies. For Company B, what are the budgeted cash disbursements?a. $600b. $700c. $500d. $40017. Refer to Payne Companies. For Company C, what are the budgeted cash collections?a.b.c.d.$200$300$400$50018. As projected net income increases thea. degree of operating leverage declines.b. margin of safety stays constant.c. break-even point goes down.d. contribution margin ratio goes up.19. A managerial preference for a very low degree of operating leverage might indicate thata. an increase in sales volume is expected.b. a decrease in sales volume is expected.c. the firm is very unprofitable.d. the firm has very high fixed costs.Channing CompanyChanning Company is preparing its Manufacturing Overhead budget for the second quarter of the year.Budgeted variable factory overhead is $3.00 per unit produced; budgeted fixed factory overhead is$75,000 per month, with $16,000 of this amount being factory depreciation.20. Refer to Channing Company. If the budgeted production for April is 6,000 units, then the total budgetedfactory overhead for April is:a. $77,000b. $82,000c. $85,000d. $93,00021. Refer to Channing Company. If the budgeted production for May is 5,000 units, then the total budgetedfactory overhead per unit:a. $15b. $18c. $20d. $2222. Refer to Channing Company. If the budgeted cash disbursements for factory overhead for June are$80,000, then the budgeted production for June must be:a. 7,400 unitsb. 6,200 unitsc. 6,500 unitsd. 7,000 unitsCastle CorporationThe following questions are based on the following data pertaining to two types of products manufacturedby Castle Corporation:Per unitSales priceVariable costs$120$500Product YProduct Z$ 70$200Fixed costs total $300,000 annually. The expected mix in units is 60 percent for Product Y and 40 percentfor Product Z.23. Refer to Castle Corporation. How much is Castle’s break-even point sales in units?24. Refer to Castle Corporation. What is Castle’s break-even point in sales dollars?The Horner Company makes three products. The cost data for these three products is as follows:Product ASelling priceVariable costsProduct BProduct C$107$2012$4016Total annual fixed costs are $840,000. The firm’s experience has been that about 20 percent of dollar salescome from product A, 60 percent from B, and 20 percent from C.Required:25. Compute break-even in sales dollars. $____________Determine the number of units to be sold at the break-even point for A#26)________for B#27_________, for Product C_#28______.(type these answers respectively onthe answer sheet).Letterman Company produces and sells two products: A and B in the ratio of 3A to 5B. Selling prices for Aand B are, respectively, $1,200 and $240; respective variable costs are $480 and $160. The company’sfixed costs are $1,800,000 per year.Compute the volume of sales in units of each product needed to:Required:29. break even. (all together).30. earn $800,000 of income before income taxes.31. earn $800,000 of income after income taxes, assuming a 30 percent tax rate.32. earn 12 percent on sales revenue before-tax income.33. earn 12 percent on sales revenue in after-tax income, assuming a 30 percent tax rate.

Order your essay today and save 30% with the discount code: KIWI20