Question

In: Accounting

Turney Company produces and sells automobile batteries, the heavy-duty HD-240. The 2017 sales forecast is as...

Turney Company produces and sells automobile batteries, the heavy-duty HD-240. The 2017 sales forecast is as follows. Quarter HD-240 1 5,100 2 7,500 3 8,400 4 10,240 The January 1, 2017, inventory of HD-240 is 2,040 units. Management desires an ending inventory each quarter equal to 40% of the next quarter’s sales. Sales in the first quarter of 2018 are expected to be 25% higher than sales in the same quarter in 2017. Prepare quarterly production budgets for each quarter and in total for 2017. TURNEY COMPANY Production Budget choose the accounting period Product HD-240 Quarter 1 2 3 4 Year select an opening Production Budget item Enter a number of units Enter a number of units Enter a number of units Enter a number of units select between addition and deduction: select a production budget item Enter a number of units Enter a number of units Enter a number of units Enter a number of units select a summarizing line for the first part enter a total number of units for the first part enter a total number of units for the first part enter a total number of units for the first part enter a total number of units for the first part select between addition and deduction: select a production budget item Enter a number of units Enter a number of units Enter a number of units Enter a number of units select a closing Production Budget item enter a total amount for the Production Budget enter a total amount for the Production Budget enter a total amount for the Production Budget enter a total amount for the Production Budget enter a total amount for the Production Budget eTextbook and Media

Solutions

Expert Solution


Related Solutions

Turney Company produces and sells automobile batteries, the heavy-duty HD-240. The 2017 sales forecast is as...
Turney Company produces and sells automobile batteries, the heavy-duty HD-240. The 2017 sales forecast is as follows. Quarter HD-240 1 5,300 2 7,300 3 8,460 4 10,270 The January 1, 2017, inventory of HD-240 is 2,120 units. Management desires an ending inventory each quarter equal to 40% of the next quarter’s sales. Sales in the first quarter of 2018 are expected to be 25% higher than sales in the same quarter in 2017. Prepare quarterly production budgets for each quarter...
Turney Company produces and sells automobile batteries, the heavy-duty HD-240. The 2020 sales forecast is as...
Turney Company produces and sells automobile batteries, the heavy-duty HD-240. The 2020 sales forecast is as follows. Quarter HD-240 1 5,100 2 7,320 3 8,280 4 10,430 The January 1, 2020, inventory of HD-240 is 2,040 units. Management desires an ending inventory each quarter equal to 40% of the next quarter’s sales. Sales in the first quarter of 2021 are expected to be 25% higher than sales in the same quarter in 2020. Prepare quarterly production budgets for each quarter...
A manufacturer of automobile batteries claim that at least 80% of the batteries that it produces...
A manufacturer of automobile batteries claim that at least 80% of the batteries that it produces will last 36 months. A consumers’ advocate group wants to evaluate this longevity claim and selects a random sample of 28 batteries to test. The following data indicate the length of time (in months) that each of these batteries lasted (i.e., performed properly before failure): 42.3, 39.6, 25.0, 56.2, 37.2, 47.4, 57.5, 39.3, 39.2, 47.0, 47.4, 39.7, 57.3, 51.8, 31.6, 45.1, 40.8, 42.4, 38.9,...
Humphrey Manufacturing produces automobile parts and batteries. All direct materials are added at the beginning of...
Humphrey Manufacturing produces automobile parts and batteries. All direct materials are added at the beginning of production and conversion costs are incurred evenly throughout production. The following production information is for the month of April: Units: Work in process, March 31: 6,000 units (40% complete) Units started in April 42,000 Units completed during April 40,000 Work in process, April 30 25% complete Costs in Beginning WIP: Direct Materials $7,500 Conversion Costs $2,125 Total $9,625 Costs Added this Period: Direct Materials...
The Brookstone Company produces 9 volt batteries and AAA batteries. The Brookstone Company uses a plantwide...
The Brookstone Company produces 9 volt batteries and AAA batteries. The Brookstone Company uses a plantwide rate to apply overhead based on direct labor hours. The following data is given: Actual Overhead $325,000 Estimated Overhead $350,000 Estimated Activity: 9 volt battery 100,000 direct labor hours AAA battery 400,000 direct labor hours Actual Activity: 9 volt battery 125,000 direct labor hours AAA battery 400,000 direct labor hours Units Produced: 9 volt battery 500,000 AAA battery 250,000 What is the predetermined overhead...
Abacus Company sells its product for $240 per unit. Its actual and projected sales follow.   ...
Abacus Company sells its product for $240 per unit. Its actual and projected sales follow.    Units Dollars   April (actual) 7,000       $1,680,000      May (actual) 2,400       576,000      June (budgeted) 6,000       1,440,000      July (budgeted) 6,000       1,440,000      August (budgeted) 3,800       912,000    All sales are on credit. Recent experience shows that 22% of credit sales is collected in the month of the sale, 48% in the month after the sale, 26% in the second...
Heavy Duty Gym Equipment Pty Ltd sells gym equipment and personal trainer lessons. On 1 June...
Heavy Duty Gym Equipment Pty Ltd sells gym equipment and personal trainer lessons. On 1 June 2020, Heavy Duty Gym Equipment Pty Ltd signs an agreement with Burwood Fitness Club to provide 2 personal training sessions for 10 weeks and 5 items of gym equipment. The contract price amounted to $44,000 (GST inclusive), on credit terms n/30 for the equipment and the personal training lessons. This amount also includes one free service for the equipment to be performed twelve months...
Your company purchases a new heavy-duty truck. It has an initial cost of $50,000 and maintenance...
Your company purchases a new heavy-duty truck. It has an initial cost of $50,000 and maintenance will be provided by the dealer at no additional charge for the first 3 years. At the end of year 4 maintenance cost is estimated to be $2,000 increasing at 10 percent per year thereafter for an additional 4 years. You estimate the additional revenues to the company due to the use of the new heavy-duty truck to be $8,000 end of years 1...
Calvin Machinery Company manufactures heavy-duty equipment used in foundries, mining operations, and similar operations. The company...
Calvin Machinery Company manufactures heavy-duty equipment used in foundries, mining operations, and similar operations. The company is very decentralized, with various division managers having control over capital investments and most production decisions. The Cylinder Division fabricates a component which is used by the Press Division in its production of metal presses. The Cylinder Division has been selling to the Press Division at a price of $3,000 per unit. Because of a cost increase, the Cylinder Division wants to increase its...
FCF Forecast ($ million) Year 0 1 2 3 4 Sales 240 Growth versus Prior Year...
FCF Forecast ($ million) Year 0 1 2 3 4 Sales 240 Growth versus Prior Year 12.50% 7.40% 6.90% 5.00% EBIT (10% of Sales) Less: Income Tax (37%) Less Increase in NWC (12% of Change in Sales)           Free Cash Flow Banco Industries expect sales to grow at a rapid rate over the next three years, but settle to an industry growth rate in year 4. The spreadsheet above is a template for forecasting Banco Industries' free cash flows (FCFs), with...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT