c. Profit Planning: Determine the number of units you must
sell to make an annual pre-tax profit using 3 assumptions
conceming your net income (profit), both in sales units
and sales dollars. i. Aggressive Profit (5 l 00,000)
it. Conservative Profit ($25,000) iii. Average Profit {$60,450} a. Budgeting: a. Create a sales budget using the information for earning
an average profit for the year. You will break the
budget down into the four quarters for the year.
(Sales tend to be consistent each quarter, you can
only sale a whole unit so round—up if necessary) Use
table 6 to complete the sales budget. In. Create a production budget for each quarter of the year
(keep it in quarters; you do not need to break it
down by month). You desire to keep 10% of next
quarter’s sales in ending inventory. Sales for Qtr 1
the following year are expected to be 30,000 bags of
chips. There is not any beginning finished goods
inventory for quarter one. Use table 7 to complete
the production budget. 9. Running quarter one -— Weighted-average process costing.
Table 8 presents the information for the packaging
department. Complete the questions under table 8. m. Actuals are in for quarter one. You sold 25% more units
than you budgeted for, but price per unit was only $3.80. a. Calculate revenue
h. Compute the cost of goods sold (total and per unit)
before adjusting for actual OH cost
11. Actual potato usage for quarter one was 68,000 pounds at a price of $0.45 per pound. Actual equivalent units of
production {bags of chips) completed through the fist process (where the potatoes are added) was 29,520.
Calculate the direct materials variances for the potatoes
(price, usage, and total) and indicate if these variances are
favorable or unfavorable. 12. Actual direct labor hours for the ouarter were 4.830 at an

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Status NEW Posted 10 Jun 2017 02:06 AM My Price 20.00

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