Ortiz companys sales budget projects unit sales of part

Assignment Help Accounting Basics

Reference no: EM13598882

Ortiz Company's sales budget projects unit sales of part 198Z of 10,000 units in January, 12,000 units in February, and 13,000 units in March. Each unit of part 198Z requires 2 pounds of materials, which cost $3 per pound. Ortiz Company desires its ending raw materials inventory to equal 40% of the next month's production requirements, and its ending finished goods inventory to equal 25% of the next month's expected unit sales. These goals were met at December 31, 2010.

1. Prepare a production budget for January and February 2011. (Enter all amounts as positive amounts and subtract where necessary.)

2. Prepare a direct materials budget for January 2011. (Enter all amounts as positive amounts and subtract where necessary.)

Reference no: EM13598882

Questions Cloud

Bob morgan was employed by green corporation for 20 years : bob morgan was employed by green corporation for 20 years. during the course of bobs employment he received options to

Ortiz companys sales budget projects unit sales of part : ortiz companys sales budget projects unit sales of part 198z of 10000 units in january 12000 units in february and

A major manufacturer decided to put one of its divisions up : a major manufacturer decided to put one of its divisions up for sale because managerial accounting information showed

During january the companys employees earned wages of 75220 : accounts payable 45910sales taxes payable 6855unearned service revenue 21120during january the following selected

Ortiz companys sales budget projects unit sales of part : ortiz companys sales budget projects unit sales of part 198z of 10000 units in january 12000 units in february and

Goshawks co produces an automotive product and incurs total : goshawks co. produces an automotive product and incurs total manufacturing costs of 2600000 in the production of 80000

Peeler company was incorporated as a new business on : peeler company was incorporated as a new business on january 1 2008. the corporate charter approved on the date

Shaws supermarket has on hand a large supply of t-bone : shaws supermarket has on hand a large supply of t-bone steak and its trying to decide whether to sell the steak as is

Tomas and saturn are partners who share income in the : tomas and saturn are partners who share income in the ratio of 31. their capital balances are 40000 and 60000

User Account

All Pages