Question
In: Accounting
Kentucky Inc. Manufactures Soccer balls. The estimated number of soccer balls sold for the first three...
Kentucky Inc. Manufactures Soccer balls. The estimated number of soccer balls sold for the first three months of 2018 are as follows: Month: Sales: June 2,000 July 3,000 August 4,000 The Actual finished goods inventory at the end of May 2018 was 2,000 units. Ending Finished Goods inventory is planned to equal 25% of the next month's sales. Kentucky incorporated will sell the soccer balls for $5.00 each. Septemberl 2018 Sales are projected at 8,500 soccer balls. How many Soccer balls should Kentucky Inc. budget to be produced in July? August? Looking to understand! Not just for the answer
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Expert Solution
Units to be produced = Expected Sales + Ending Inventory - Beginning Inventory
| June | Jul | |
| Expected Sales in units | 2,000 | 3,000 |
| Expected Ending Inventory | 750 [3000 x 25%] | 1,000 [4000 x 25%] |
| Total units needed | 2,750 | 4,000 |
| Less: Beginning Inventory | 2,000 [given may's end inventory] | 750 |
| Units to be produced | 750 = Answer | 3,250 = Answer |
ekkarill92 answered 1 year agoRelated Solutions
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Raw materials inventory
Work in process inventory Cutting
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The following additional information describes the company's production activities for May....
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Holly Sportsballs has three product lines in its retail stores:
soccer balls, baseballs, and tennis balls. Results of the fourth
quarter are presented below:
Soccer Balls
Baseballs Tennis
Balls
Total
Units
sold
1,000
2,000
2,000
5,000
Revenue
$22,000
$40,000
$23,000
$85,000
Variable departmental
costs
15,000
22,000
12,000
49,000
Direct fixed
costs
1,000
3,000
2,000
6,000
Allocated fixed
costs
8,000
8,000
8,000
28,000
Net income
(loss)
$ (2,000) $
7,000 $
1,000 $
6,000
The allocated fixed...
Sales Budget FlashKick Company manufactures and sells soccer balls for teams of children in elementary and...
Sales Budget
FlashKick Company manufactures and sells soccer balls for teams
of children in elementary and high school. FlashKick’s best-selling
lines are the practice ball line (durable soccer balls for training
and practice) and the match ball line (high-performance soccer
balls used in games). In the first four months of next year,
FlashKick expects to sell the following:
Practice Balls
Match Balls
Units
Selling Price
Units
Selling Price
January
50,000
$8.25
7,000
$15.00
February
56,000
$8.25
7,500
$15.00
March
80,000...
Sales Budget FlashKick Company manufactures and sells soccer balls for teams of children in elementary and...
Sales Budget
FlashKick Company manufactures and sells soccer balls for teams
of children in elementary and high school. FlashKick’s best-selling
lines are the practice ball line (durable soccer balls for training
and practice) and the match ball line (high-performance soccer
balls used in games). In the first four months of next year,
FlashKick expects to sell the following:
Practice Balls
Match Balls
Units
Selling Price
Units
Selling Price
January
50,000
$8.25
7,000
$15.00
February
56,000
$8.25
7,500
$15.00
March
80,000...
Sales Budget FlashKick Company manufactures and sells soccer balls for teams of children in elementary and...
Sales Budget
FlashKick Company manufactures and sells soccer balls for teams
of children in elementary and high school. FlashKick’s best-selling
lines are the practice ball line (durable soccer balls for training
and practice) and the match ball line (high-performance soccer
balls used in games). In the first four months of next year,
FlashKick expects to sell the following:
Practice Balls
Match Balls
Units
Selling Price
Units
Selling Price
January
50,000
$8.75
7,000
$16.00
February
58,000
$8.75
7,500
$16.00
March
80,000...
Sales Budget FlashKick Company manufactures and sells soccer balls for teams of children in elementary and...
Sales Budget FlashKick Company manufactures and sells soccer
balls for teams of children in elementary and high school.
FlashKick’s best-selling lines are the practice ball line (durable
soccer balls for training and practice) and the match ball line
(high-performance soccer balls used in games). In the first four
months of next year, FlashKick expects to sell the following:
____________Practice Balls_______________ Match Balls
_______Units_________ Selling Price________ Units
_________Selling Price
January ____50,000 ______$8.25____________ 7,000
_________$16.00
February___ 58,000______ $8.25____________ 7,500_________
$16.00
March _____80,000______...
Sales Budget FlashKick Company manufactures and sells soccer balls for teams of children in elementary and...
Sales Budget FlashKick Company manufactures and sells soccer
balls for teams of children in elementary and high school.
FlashKick’s best-selling lines are the practice ball line (durable
soccer balls for training and practice) and the match ball line
(high-performance soccer balls used in games). In the first four
months of next year, FlashKick expects to sell the following:
__________Practice Balls_______________________Match Balls
_____Units _______Selling Price __________Units ________Selling
Price
January ____50,000 _____$8.25__________7,000
___________$16.00
February ___58,000_____ $8.25_________ 7,500____________
$16.00
March_____ 80,000_____ $8.25________ 13,000____________...
Production Budget Flashkick Company Manufactures and sells soccer balls for teams of children in elementary and...
Production Budget
Flashkick Company Manufactures and sells soccer balls for teams
of children in elementary and high school. Flashkick's best selling
lines are the practice ball line (durable soccer balls for training
and practice) and the match ball line (high-performance soccer
balls used in games). In the first four months of next year,
Flashkick expects to sell the following:
___________Practice Balls_______________________Match Balls
_________Units_________selling price________units________selling
price
January
___50,000_________$8.75__________7000___________$16.00
February___58000_________$8.75__________8000___________$16.00
March
_____70000_________$8.75_________12000___________$16.00
April______100000_________$8.75_________18000___________$16.00
Flashkick requires ending inventory of product to equal 20...
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