1 answer

Required information [The following information applies to the questions displayed below.] Morganton Company makes one product...

Question:

Required information [The following information applies to the questions displayed below.] Morganton Company makes one produc

Required information [The following information applies to the questions displayed below.] Morganton Company makes one product and it provided the following information to help prepare the master budget a. The budgeted selling price per unit is $65. Budgeted unit sales for June, July, August, and September are 9,900, 30,00 0, 32,000, and 33,000 units, respectively. All sales are on credit. b. Forty percent of credit sales are collected in the month of the sale and 60% in the following month. c. The ending finished goods inventory equals 30% of the following month's unit sales. d. The ending raw materials inventory equals 20 % of the following month's raw materials production needs. Each unit of fi nished goods requires 4 pounds of raw materials. The raw materials cost $2.50 per pound. e. Forty percent of raw materials purchases are paid for in the month of purchase and 60% in the following month. f. The direct labor wage rate is $12 per hour. Each unit of finished goods requires two direct labor-hours. g. The variable selling and administrative expense per unit sold is $1.90. The fixed selling and administrative expense per month is $69,000. 8. If 129,200 pounds of raw materials are needed to meet production in August, what is the estimated accounts payable balance at the end of July? Accounts payable

Answers

1d) production budget
july august
Expected sale units 30,000 32000
Add:Desired ending inventory 9600 9900
total needs 39,600 41900
less:Desired beginning inventory 9000 -9600
units to be produced 30,600 answer 32300
1e) july August
units to be produced 30,600 32300
pounds per unit 4 4
total pounds required 122,400 129200
Add:Desired ending iventory 25840
total pounds required 148,240
less:beginning inventory 24,480
Raw materials required 123,760 answer
cost per unit 2.5
total cost of materials 309400
therefore accounts payable 309400*60%= 74256 answer
.

Similar Solved Questions

1 answer
A family friend has asked your help in analyzing the operations of three anonymous companies operating...
A family friend has asked your help in analyzing the operations of three anonymous companies operating in the same service sector Industry. Supply the missing data in the table below. (Loss amounts should be indicated by a minus sign. Round your percentage answers to nearest whole percent and other ...
1 answer
Describe the general causes of Diabetes. Distinguish between Type 1 and Type 2 Diabetes and tell...
Describe the general causes of Diabetes. Distinguish between Type 1 and Type 2 Diabetes and tell what nutritional steps should be taken by someone who has either already developed the condition, or may develop diabetes due to a genetic predisposition. Explain, at the cellular level, the biology of c...
1 answer
Due Thu 07/30/2020 11 Is a statistics class' delivery type a factor in how well students...
Due Thu 07/30/2020 11 Is a statistics class' delivery type a factor in how well students do on the final exam? The table below shows the average percent on final exams from several randomly selected classes that used the different delivery types. Face-to-Face Hybrid Online 68 96 63 60 98 64 57 7...
1 answer
Information on Grand Corporation’s direct materials costs follows. Quantities of chemical Y purchased and used 19,400...
Information on Grand Corporation’s direct materials costs follows. Quantities of chemical Y purchased and used 19,400 gallons Actual cost of chemical Y used $ 426,000 Standard price per gallon of chemical Y $ 22.70 Standard quantity of chemical Y allowed 17,800 gallons ...
1 answer
What is a standard candle?
What is a standard candle?...
1 answer
Stellan Manufacturing is considering the following two investment​ proposals: Proposal X Proposal Y Investment $ 724...
Stellan Manufacturing is considering the following two investment​ proposals: Proposal X Proposal Y Investment $ 724 comma 000$724,000 $ 510 comma 000$510,000 Useful life 5 years 4 years Estimated annual net cash inflows received at the end of each year $ 158 comma...
1 answer
What criteria are used to grade the different levels of evidence?
What criteria are used to grade the different levels of evidence?...
1 answer
How do you use the difference of two squares formula to factor #4x^2 − 81#?
How do you use the difference of two squares formula to factor #4x^2 − 81#?...
1 answer
Question #3 / 20 A sample of temperatures was taken in Detroit during the month of...
Question #3 / 20 A sample of temperatures was taken in Detroit during the month of June. The temperatures were measured in degrees Fahrenheit. The mean of the sample was 82 degrees Fahrenheit, and the standard deviation of the sample was 11 degrees Fahrenheit. Suppose that the same temperatures were...
1 answer
Indicate calculator functions used (ie T-Test, 2-SampTTest, etc) as well as calculator entries State your conclusions...
Indicate calculator functions used (ie T-Test, 2-SampTTest, etc) as well as calculator entries State your conclusions in terms of the context of the problem. A health club manager claims that its members lose an average of 15 pounds during the first six months of membership.  A sample of ...
1 answer
Analyze the proton and carbon NMR for 4-cyclohexane PROTON_02 4632-4-cyclohexane 7.5 7.0 6.5 6.0 5.5 5.0...
Analyze the proton and carbon NMR for 4-cyclohexane PROTON_02 4632-4-cyclohexane 7.5 7.0 6.5 6.0 5.5 5.0 4.5 a 4.0 fi (ppm) 3.5 3.0 2.5 2.0 1.5 1.0 0.5 CARBON_01 4632-4-cyclohexane WAWANAN www 230 220 210 200 190 180 170160 150 140 130 120 110 f1 (ppm) 100 90 80 70 60 50 40 30 20 10 0 -10...
1 answer
QUESTION 3 What is the interest compounded on a short-term loan of $12,000 for 4 years...
QUESTION 3 What is the interest compounded on a short-term loan of $12,000 for 4 years at an annual interest rate of 6%? CA. $3,100 B. $1,900 C. $2,000 D. $3,150...
1 answer
Question 6 (10 points) 3 ор x? 6 d An optical system includes first a diverging...
Question 6 (10 points) 3 ор x? 6 d An optical system includes first a diverging lens with focal length of magnitude fp=49.0 and a converging lens with focal length of magnitude fc=11.0. The lenses are separated by a distance of d=29.0 cm. An object is placed p=18.0 cm in front of the div...
1 answer
71. Customers can purchase a single basic car wash for $7.50, or they can buy an...
71. Customers can purchase a single basic car wash for $7.50, or they can buy an annual pass for $80 that includes an unlimited number of basic car washes. If x is the number of car washes a customer pur- chases, what is the largest value of x that would make buying the individual car washes less ex...
1 answer
13. A stock has a beta of 1.2 and an expected return of 17 percent. A...
13. A stock has a beta of 1.2 and an expected return of 17 percent. A T-bill earns a rate of 5.1 percent. The beta of a portfolio comprised of these two assets is 0.85. What percentage of the portfolio is invested in the stoc? (1 point) Hint: T-bill eams risk free rate A. 71% B. 77% C.84% D. 89% E. ...
1 answer
Flux -video lecture 1 Jump to Question 1 Not yet The slope of the tangent line...
flux -video lecture 1 Jump to Question 1 Not yet The slope of the tangent line at (-1,1,5) to the curve of intersection of the surface z + 4y? and the plane y answered Marked out of 2.00 Select one Flag question 2 2...