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Please Show Work. Thank you! __________________________________________________________________________ Question 3 Big Three Company produces televisions. Budgeted sales for...

Please Show Work. Thank you!

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Question 3

Big Three Company produces televisions. Budgeted sales for February are 1,090 units. Finished goods inventory on February 1 is budgeted to be 310 units, and Finished goods inventory on February 28 is budgeted to be 135 units.

What is the budgeted production for February?

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Question 4

Pope Company produces a model fan, which currently has a net loss. Below are its sales and costs

Sales revenue

$135,130

Less: Variable costs

41,851

Contribution margin

$?

Less: Direct fixed costs

46,097

Segment margin

$?

Less: Common fixed costs

57,441

Net operating income (loss)

$?

Eliminating the model fan product line would eliminate all of direct fixed costs. All of the common fixed costs would be redistributed to Pope’s remaining product lines.

By how much will Pope’s net operating income increase or decrease if the fan is eliminated?

If net income decreases, indicate with a – .

Example, if net income decreases $1,000. Indicate –1,000.

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Question 5

It costs Mills, Inc. $11 per unit to manufacture 1,980 units per month of a product that it can sell for $37 each. Alternatively, Mills could process the units further into a more complex product, which would cost an additional $30 per unit. Mills could sell the more complex product for $58 each.

What is the incremental revenue if Mills decides to process further?

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Question 6

Garfield Corp. expects to sell 1,520 units of its pet beds in March and 2,170 units in April. Each unit sells for $76. Garfield’s ending inventory policy is 40 percent of the following month’s sales. Garfield pays its supplier $27 per unit.

What is Garfield's budgeted purchases for March?

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Question 7

Preston, Inc., manufactures wooden shelving units for collecting and sorting mail. The company expects to produce 420 units in July and 640 units in August. Each unit requires 9 feet of wood at a cost of $1.6 per foot. Preston wants to always have 10% of the next month’s required feet of wood on hand in materials inventory.

What is Preston’s raw materials purchases budget for July?

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Question 8

Avery Company has compiled the following data for the upcoming year:
Sales are expected to be 6,700 units at $32 each.

  • Each unit requires 1.3 pounds of direct materials at $2.8 per pound.
  • Each unit requires 1.3 hours of direct labor at $14 per hour.
  • Manufacturing overhead is $4 per unit.
  • Selling and administrative costs are $4 per unit.

What is Avery's budgeted cost of goods sold?

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Question 9

Randall has received a special order for 2,370 units of its product at a special price of $20. The product normally sells for $27 and has the following manufacturing costs:

Per unit

Direct materials

$

3

Direct labor

5

Variable manufacturing overhead

2

Fixed manufacturing overhead

1

Assume that Randall has sufficient capacity to fill the order. If Randall accepts the order, what effect will the order have on the company’s short-term profit?

If a decrease, place a sign before your answer.

For example, a decrease of $1,000 would be answered –1,000.

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Question 10

Quiet Corp. currently makes 2,500 subcomponents a year in one of its factories. The unit costs to produce are:

Description

Per unit

Direct materials

$4

Direct labor

5

Variable manufacturing overhead

2

Fixed manufacturing overhead

3

An outside supplier has offered to provide Quiet Corp. with the 2,500 subcomponents at a $19 per unit price. Fixed overhead is not avoidable.

If Quiet Corp. decides to buy from the outside supplier, the impact to net income will be?

If positive, enter the number, if negative, place a – sign before your number.

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