CourseLover

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    Devry University
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    NatSteel Holdings Pte Ltd
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Category > Accounting Posted 19 Dec 2017 My Price 10.00

Budgeted unit sales


The budgeted selling price per unit is $65. Budgeted unit sales for June, July, August, and September are 8,200, 12,000, 14,000, and 15,000 units, respectively. All sales are on credit.
b.

Forty percent of credit sales are collected in the month of the sale and 60% in the following month.
c. The ending finished goods inventory equals 20% of the following month’s unit sales.
d.

The ending raw materials inventory equals 10% of the following month’s raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $2.00 per pound.
e.

Twenty percent of raw materials purchases are paid for in the month of purchase and 80% in the following month.
f.

The direct labor wage rate is $13 per hour. Each unit of finished goods requires two direct labor-hours.
g.

The variable selling and administrative expense per unit sold is $1.30. The fixed selling and administrative expense per month is $62,000.

 

What are the budgeted sales for July? and If 71,000 pounds of raw materials are needed to meet production in August, how many pounds of raw materials should be purchased in July?

 

 

 

 

Answers

CourseLover
(12)
Status NEW Posted 19 Dec 2017 06:12 AM My Price 10.00

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