Expense Net Income/(Loss) Assignment | Top Universities |

1. Sales: quarter 1, 28,600 bags; quarter 2, 42,800 bags. The selling price is $61 per bag. 2. Direct materials: each bag of Snare requires 5 pounds of Gumm at a cost of $3.8 per pound and 6 pounds 2. Desired inventory levels Ta t$1.50 per pound Type Inventory January 1 April 1 July 1 Snare (bags 8,300 12,300 8.200 Gumm (pounds) Tarr (pounds) 9,100 10,300 13.300 14,500 20.300 25,400 4. Direct labor: direct labor time is 5. Selling and administrative expenses are expected to be 15%% of sales plus $177.000 per quarter 5 minutes bag at an hourly rate of $14 per hour. income taxes are affected to be 30% of income before income taxes. ) the manufacturing overhead budget shows expected costs to be 125% of direct labor cost, and (2) the direct materials budget for Tarr shows the cost of Tarr purchases to be $303,000 quarter 1 and $423.500 in tant has prepared two budgets:

 
Prepare the sales budget. COOK FARM SUPPLY COMPANY Sales Budget For the Six Months Ending June 30, 2017 Quarter Six 1 2 Months Expected unit sales 71400 28600 42800 Unit selling price 61 61 61 4355400 Total sales 1744600 2610800 Prepare the production budget. COOK FARM SUPPLY COMPANY Production Budget For the Six Months Ending June 30, 2017 Quarter Six Months 1 2. Expected Unit Sales 28600 42800 Desired Ending Finished Goods Units Add 12300 18200 Total Required Units 40900 61000 Beginning Finished Goods Units Less 8300 12300 32600 48700 81300 Required Production Units Quarter Six Months Units to be Produced 32600 48700 Direct Materials per Unit Total Pounds Needed for Production 163000 243500 Desired Ending Direct Materials Add 13300 10300 Total Materials Required 173300 256800 T Beginning Direct Materials Less 9100 10300 246500 Direct Materials Purchases 164200 Cost per Pound 3.80 3.80 936700 1560660 Total Cost of Direct Materials Purchases 623960 Prepare the direct labor budget. (Enter Direct labor time per unit hours, e.g. for 5 minutes the proportion will be 0.75.) proportion COOK FARM SUPPLY COMPANY Direct Labor Budget For the Six Months Ending June 30, 2017, Quarter Months 1 48700 e Produced 32600 Units to Direct Labor Time per Unit 25 25 Total Required Direct Labor Hours 8150 12175 14 Direct Labor Cost per Hour 14 170450 284550 Total Direct Labor Cost 114100 Prepare the selling and administrative expense budget Salling and Administrative Expense Budget For the Six Months Ending June 30, 2017 Quarter Six Months 1 Budgeted sales 71400 28600 42800 units Variable Cost 261690 391620 653310 177000 Fixed Cost 177000 354000 Total 1007310 438690 568620 Prepare the budgeted multiple-step income statement for the first 6 months. (Round intermediate calculations to 2 decimal places and final answer to 0 decimal places, e.g. 1,255.) COOK FARM SUPPLY COMPANY Budgeted Income Statement For the Six Months Ending June 30, 2017 Sales Cost of Goods Sold Gross Profit Selling and Administrative Expenses Income from Operations Interest Expense Income Before Income Tax Expense Net Income/(Loss) Get Accounting Homework Help Today.

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Expense Net Income/(Loss) Assignment | Top Universities |

 

Expense Net Income/(Loss) Assignment | Top Universities | 

Expense Net Income/(Loss) Assignment | Top Universities |  Do you need help with Expense Net Income/(Loss) Assignment | Top Universities | ? At Homework Geeks, we can take care of all your academic needs. we can write your papers, do your presentations, labs, discussion questions, and final exams too. Expense Net Income/(Loss) Assignment | Top Universities | 

Expense Net Income/(Loss) Assignment | Top Universities |

1. Sales: quarter 1, 28,600 bags; quarter 2, 42,800 bags. The selling price is $61 per bag. 2. Direct materials: each bag of Snare requires 5 pounds of Gumm at a cost of $3.8 per pound and 6 pounds 2. Desired inventory levels Ta t$1.50 per pound Type Inventory January 1 April 1 July 1 Snare (bags 8,300 12,300 8.200 Gumm (pounds) Tarr (pounds) 9,100 10,300 13.300 14,500 20.300 25,400 4. Direct labor: direct labor time is 5. Selling and administrative expenses are expected to be 15%% of sales plus $177.000 per quarter 5 minutes bag at an hourly rate of $14 per hour. income taxes are affected to be 30% of income before income taxes. ) the manufacturing overhead budget shows expected costs to be 125% of direct labor cost, and (2) the direct materials budget for Tarr shows the cost of Tarr purchases to be $303,000 quarter 1 and $423.500 in tant has prepared two budgets:

 
Prepare the sales budget. COOK FARM SUPPLY COMPANY Sales Budget For the Six Months Ending June 30, 2017 Quarter Six 1 2 Months Expected unit sales 71400 28600 42800 Unit selling price 61 61 61 4355400 Total sales 1744600 2610800 Prepare the production budget. COOK FARM SUPPLY COMPANY Production Budget For the Six Months Ending June 30, 2017 Quarter Six Months 1 2. Expected Unit Sales 28600 42800 Desired Ending Finished Goods Units Add 12300 18200 Total Required Units 40900 61000 Beginning Finished Goods Units Less 8300 12300 32600 48700 81300 Required Production Units Quarter Six Months Units to be Produced 32600 48700 Direct Materials per Unit Total Pounds Needed for Production 163000 243500 Desired Ending Direct Materials Add 13300 10300 Total Materials Required 173300 256800 T Beginning Direct Materials Less 9100 10300 246500 Direct Materials Purchases 164200 Cost per Pound 3.80 3.80 936700 1560660 Total Cost of Direct Materials Purchases 623960 Prepare the direct labor budget. (Enter Direct labor time per unit hours, e.g. for 5 minutes the proportion will be 0.75.) proportion COOK FARM SUPPLY COMPANY Direct Labor Budget For the Six Months Ending June 30, 2017, Quarter Months 1 48700 e Produced 32600 Units to Direct Labor Time per Unit 25 25 Total Required Direct Labor Hours 8150 12175 14 Direct Labor Cost per Hour 14 170450 284550 Total Direct Labor Cost 114100 Prepare the selling and administrative expense budget Salling and Administrative Expense Budget For the Six Months Ending June 30, 2017 Quarter Six Months 1 Budgeted sales 71400 28600 42800 units Variable Cost 261690 391620 653310 177000 Fixed Cost 177000 354000 Total 1007310 438690 568620 Prepare the budgeted multiple-step income statement for the first 6 months. (Round intermediate calculations to 2 decimal places and final answer to 0 decimal places, e.g. 1,255.) COOK FARM SUPPLY COMPANY Budgeted Income Statement For the Six Months Ending June 30, 2017 Sales Cost of Goods Sold Gross Profit Selling and Administrative Expenses Income from Operations Interest Expense Income Before Income Tax Expense Net Income/(Loss) Get Accounting Homework Help Today.

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He has decades of experience in the education field and has served in the examination boards of some of the top Universities within & outside the United States America.

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Expense Net Income/(Loss) Assignment | Top Universities |

 

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