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In: Accounting
Thunder Creek Company is preparing budgets for the first quarter of 2018. #1 Create a sales...
Thunder Creek Company is preparing budgets for the first quarter of 2018.
#1 Create a sales budget.
Thunder Creek Company expects sales of 18,000 units in January 2018, 24,000 units in February, 30,000 units in March, 34,000 in April, and 36,000 in May. The sales price is $48 per unit.
#2 Create a production budget.
Thunder Creek wants to finish each month with 20% of next month's sales in units.
#3 Create a Direct Materials Budget
Thunder Creek Company uses 2 pounds of direct materials for each unit it produces, at a cost of $4.00 per pound. The company begins the year with 9,500 pounds of material in Raw Materials Inventory. Management desires an ending inventory of 25% of next month's materials requirements
Solutions
ekkarill92 answered 2 months agoRelated Solutions
Thunder Creek Company is preparing budgets for the first quarter of 2018. #1 Create a sales...
Thunder Creek Company
is preparing budgets for the first quarter of 2018.
#1 Create a sales
budget.
Thunder Creek Company
expects sales of 18,000 units in January 2018, 24,000 units in
February, 30,000 units in March, 34,000 in April, and 36,000 in
May. The sales price is $48 per unit.
#2 Create a production
budget.
Thunder Creek wants to
finish each month with 20% of next month's sales in units.
#3 Create a Direct
Materials Budget
Thunder Creek Company
uses...
ABC Company is preparing budgets for the third quarter ending Sept 30, 2019. Budgeted sales for...
ABC Company is preparing budgets for the third quarter ending
Sept 30, 2019. Budgeted sales for the next five months are;
· July 20,681 units
· Aug 50,020 units
· Sept 30,150 units
· Oct 25,309 units
· Nov 15,000 units
The selling price is $15 per unit. All sales are on account.
ABC’s collection pattern is 60% collected in the month of sale and
remaining amount in the month following sale.
The June 30 Accounts Receivable balance of $50,000...
Donahue Company is preparing budgets for the third quarter ending Sept 30, 2019. Budgeted sales for...
Donahue Company is preparing budgets for the third quarter
ending Sept 30, 2019. Budgeted sales for the next five months
are;
· July 20,681 units
· Aug 50,020 units
· Sept 30,150 units
· Oct 25,309 units
· Nov 15,000 units
The selling price is $15 per unit. All sales are on account.
Donahue’s collection pattern is 60% collected in the month of sale
and remaining amount in the month following sale.
The June 30 Accounts Receivable balance of $50,000...
1. Milo Company manufactures beach umbrellas. The company is preparing detailed budgets for the third quarter...
1.
Milo Company manufactures beach umbrellas. The company is
preparing detailed budgets for the third quarter and has assembled
the following information to assist in the budget preparation:
The Marketing Department has estimated sales as follows for the
remainder of the year (in units):
July
30,000
October
20,000
August
70,000
November
10,000
September
50,000
December
10,000
The selling price of the beach umbrellas is $12 per unit.
All sales are on account. Based on past experience, sales are
collected in...
1. Milo Company manufactures beach umbrellas. The company is preparing detailed budgets for the third quarter...
1. Milo Company manufactures beach umbrellas. The company is
preparing detailed budgets for the third quarter and has assembled
the following information to assist in the budget preparation: a.
The Marketing Department has estimated sales as follows for the
remainder of the year (in units): July 30,000 October 20,000 August
70,000 November 10,000 September 50,000 December 10,000
________________________________________ The selling price of the
beach umbrellas is $12 per unit. b. All sales are on account. Based
on past experience, sales...
Case #1 Sienna Corporation is preparing budgets for the upcoming quarter ending June 30. Budgeted sales...
Case #1
Sienna Corporation is preparing budgets for the upcoming quarter
ending June 30. Budgeted sales (in units) for the next five months
are:
April
30,000
May
90,000
June
75,000
July
51,000
August
52,500
Below is additional information that may be relevant in
preparing the budgets.
The company produces professional quality bowls that sell for
$31.50 per unit.
To guard against inventory stockouts, the company has a policy
of maintaining an ending inventory of 18 percent of the following
month’s...
Case #1 Sienna Corporation is preparing budgets for the upcoming quarter ending June 30. Budgeted sales...
Case #1
Sienna Corporation is preparing budgets for the upcoming quarter
ending June 30. Budgeted sales (in units) for the next five months
are:
April
30,000
May
90,000
June
75,000
July
51,000
August
52,500
Below is additional information that may be relevant in
preparing the budgets.
The company produces professional quality bowls that sell for
$31.50 per unit.
To guard against inventory stockouts, the company has a policy
of maintaining an ending inventory of 18 percent of the following
month’s...
Question 1. James Company is preparing budgets for the Third quarter of 2019. All relevant information...
Question 1. James Company is preparing budgets for the
Third quarter of 2019. All relevant information is
presented below.
A. James Company expects sales as shown
below:
Budgeted Sales (Units)
July
25,000
August
28,000
September
36,000
October
42,000
November
50,000
December
58,000
The sales price is $32 per unit. The desired ending inventory of
units is 15% higher than the beginning inventory of 1,000
units.
Prepare a sales budget for the third quarter, in total,
October by month.
2019
July...
Milo Company manufactures beach umbrellas. The company is preparing detailed budgets for the third quarter an...
Milo Company manufactures beach umbrellas. The company is preparing detailed budgets for the third quarter and has assembled the following information to assist in the budget preparation a. The Marketing Department has estimated sales as follows for the remainder of the year (in units): 21,000 7,500 8,000 31,000 72,ee8 41,000 October July August September November December The selling price of the beach umbrellas is $11 per unit b. All sales are on account. Based on past experience, sales are collected In the following pattern: 38%...
Milo Company manufactures beach umbrellas. The company is preparing detailed budgets for the third quarter and...
Milo Company manufactures beach umbrellas. The company is
preparing detailed budgets for the third quarter and has assembled
the following information to assist in the budget preparation:
The Marketing Department has estimated sales as follows for the
remainder of the year (in units):
July
33,000
October
23,000
August
76,000
November
9,500
September
45,000
December
10,000
The selling price of the beach umbrellas is $15 per unit.
All sales are on account. Based on past experience, sales are
collected in the...
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