Question
In: Accounting
Croy Inc. has the following projected sales for the next five months: Month Sales in Units...
Croy Inc. has the following projected sales for the next five months:
| Month | Sales in Units |
| April | 3,410 |
| May | 3,895 |
| June | 4,520 |
| July | 4,105 |
| August | 3,970 |
Croy’s finished goods inventory policy is to have 50 percent of the next month’s sales on hand at the end of each month. Direct materials costs $2.60 per pound, and each unit requires 2 pounds. Direct materials inventory policy is to have 50 percent of the next month’s production needs on hand at the end of each month. Direct materials on hand at March 31 totaled 3,653 pounds.
Determine budgeted production for April, May, and June and then determine budgeted cost of materials purchased for April and May.
Solutions
ekkarill92 answered 1 year agoRelated Solutions
Croy Inc. has the following projected sales for the next five months: Month Sales in Units...
Croy Inc. has the following projected sales for the next five months:
Month Sales in Units
April 3,470
May 3,890
June 4,520
July 4,170
August 3,980
Croy’s finished goods inventory policy is to have 70 percent of the next month’s sales on hand at the end of each month. Direct material costs $3.00 per pound, and each unit requires 2 pounds. Raw materials inventory policy is to have 50 percent of the next month’s production needs on hand at the...
Croy Inc. has the following projected sales for the next five months: Month Sales in Units...
Croy Inc. has the following projected sales for the next five
months:
Month
Sales in
Units
April
3,500
May
3,945
June
4,640
July
4,110
August
3,920
Croy’s finished goods inventory policy is to have 60 percent of the
next month’s sales on hand at the end of each month. Direct
material costs $3.40 per pound, and each unit requires 2 pounds.
Raw materials inventory policy is to have 50 percent of the next
month’s production needs on hand at the...
Croy Inc. has the following projected sales for the next five months: Month Sales in Units...
Croy Inc. has the following projected sales for the next five
months:
Month
Sales in
Units
April
3,410
May
3,885
June
4,590
July
4,175
August
3,900
Croy’s finished goods inventory policy is to have 60 percent of the
next month’s sales on hand at the end of each month. Direct
material costs $2.90 per pound, and each unit requires 2 pounds.
Raw materials inventory policy is to have 50 percent of the next
month’s production needs on hand at the...
Croy Inc. has the following projected sales for the next five months: Month Sales in Units...
Croy Inc. has the following projected sales for the next five
months:
Month
Sales in Units
April
3,520
May
3,840
June
4,630
July
4,190
August
3,940
Croy’s finished goods inventory policy is to have 50 percent of
the next month’s sales on hand at the end of each month. Direct
materials costs $3.00 per pound, and each unit requires 2 pounds.
Direct materials inventory policy is to have 50 percent of the next
month’s production needs on hand at the...
Croy Inc. has the following projected sales for the next five months: Month Sales in Units...
Croy Inc. has the following projected sales for the next five
months: Month Sales in Units April 3,560 May 3,810 June 4,550 July
4,110 August 3,990 Croy’s finished goods inventory policy is to
have 70 percent of the next month’s sales on hand at the end of
each month. Direct material costs $3.50 per pound, and each unit
requires 2 pounds. Raw materials inventory policy is to have 50
percent of the next month’s production needs on hand at the...
Croy Inc. has the following projected sales for the next five months: Month Sales in Units...
Croy Inc. has the following projected sales for the next five
months:
Month
Sales in Units
April
3,500
May
3,870
June
4,630
July
4,115
August
4,000
Croy’s finished goods inventory policy is to have 50 percent of
the next month’s sales on hand at the end of each month. Direct
materials costs $3.20 per pound, and each unit requires 2 pounds.
Direct materials inventory policy is to have 50 percent of the next
month’s production needs on hand at the...
Croy Inc. has the following projected sales for the next five months: Month Sales in Units...
Croy Inc. has the following projected sales for the next five
months: Month Sales in Units April 3,430 May 3,900 June 4,530 July
4,115 August 4,000 Croy’s finished goods inventory policy is to
have 60 percent of the next month’s sales on hand at the end of
each month. Direct material costs $2.80 per pound, and each unit
requires 2 pounds. Raw materials inventory policy is to have 50
percent of the next month’s production needs on hand at the...
Croy Inc. has the following projected sales for the next five months: Month Sales in...
Croy Inc. has the following projected sales for the next five
months:
Month
Sales in Units
April
3,480
May
3,880
June
4,600
July
4,180
August
3,980
Croy’s finished goods inventory policy is to have 70 percent of
the next month’s sales on hand at the end of each month. Direct
material costs $2.50 per pound, and each unit requires 2 pounds.
Raw materials inventory policy is to have 50 percent of the next
month’s production needs on hand at...
ZZ, Inc. has budgeted sales in units for the next six months as follows: Budgeted Sales in Units July...
ZZ, Inc. has budgeted sales in units for the next six months as follows:
Budgeted Sales in Units
July 7,700 units
August 8,300 units
September 5,400 units
October 10,200 units
November ?????? units
December 11,700 units
The selling price is $18 per unit. 30% of the company's sales are cash
sales and 70% of the company's sales are made on account. The sales on
account are collected in the pattern 15% in the month of sale, 20% in
the month...
Lubriderm Corporation has budgeted the following unit sales for the next four months: Month Unit Sales...
Lubriderm Corporation has budgeted the following unit sales for
the next four months:
Month Unit Sales
July 120,000
August 210,000
September 150,000
October 180,000
Plans are to have an ending inventory of finished products that
equals 20% of the unit sales for the next month. Five pounds of
materials are required for each finished unit produced, and each
pound of material costs $8. The desired ending inventory level for
materials is equal to 30% of the materials needs...
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