Prepare a direct materials budget for april may and june

Assignment Help Accounting Basics
Reference no: EM131939533

Problem - Ruiz Co. provides the following sales forecast for the next four months:

 

April

May

June

July

Sales (units)

620

700

650

740

The company wants to end each month with ending finished goods inventory equal to 30% of next month's forecasted sales. Finished goods inventory on April 1 is 186 units. Assume July's budgeted production is 650 units. In addition, each finished unit requires five pounds (lbs.) of raw materials and the company wants to end each month with raw materials inventory equal to 20% of next month's production needs. Beginning raw materials inventory for April was 644 pounds. Assume direct materials cost $3 per pound.

Exercise - Prepare a direct materials budget for April, May, and June.

Reference no: EM131939533

Questions Cloud

Determining the administrative issues : Discuss two to three challenges an administrator may face when developing and reviewing proposals for budget cuts.
Government and business budget making : Describe and discuss the apparent differences between government and business budget making.
Considering the pricing of air fare : What impact do you think social media has on considering the pricing of air fare? Would the pricing competition be the same without the online tools?
Calculate actual cost of the problem : Employees are both a significant resource and significant cost for an organization, thus employee contributions to the bottom line must be measured.
Prepare a direct materials budget for april may and june : Beginning raw materials inventory for April was 644 pounds. Prepare a direct materials budget for April, May, and June
Assignment-health insurance expansion : Health care market failures, such as adverse selection, can be addressed through government policy and regulation.
Helping someone overcome a fixed mindset : Helping someone overcome a fixed mindset is something I would take pride in. I would encourage the student to study
How effective was freeman-brown as an open system : Review how organizations interact with their external environment (as open systems and complex adaptive systems).
How do regional economic alliances impact the global economy : How do regional economic alliances impact the global economy.Be clear and concise in your answer, using business terms .

Reviews

Write a Review

Accounting Basics Questions & Answers

  A firm paid dividends of 10000 paid interest of 20000

a firm paid dividends of 10000 paid interest of 20000 reduced debt principal outstanding paid off debt in the amount of

  First-stage and second-stage cost allocation methods

Which of the following statements is (are) false regarding first-stage and second-stage cost allocation methods?

  Fishbone corporation bought a new machine and agreed to

fishbone corporation bought a new machine and agreed to pay for it in equal annual installments of 4000 at the end of

  The production department of zan corporation has submitted

the production department of zan corporation has submitted the following forecast of units to be produced by quarter

  Xener inc inc did not pay dividends in 2009 or 2010 even

xener inc. inc. did not pay dividends in 2009 or 2010 even though 49600 shares of its 7.2 70 par value cumulative

  In an attempt to identify possible suspects the auditors

in an attempt to identify possible suspects the auditors researched the personal files of every employee in the

  Investments consist of treasury bills

Investments consist of treasury bills that were purchased in November and mature in January. Prepaid insurance is for the next two years. What amount should be included in the current asset section of Janson's December 31, 2009, balance sheet?

  How much was net income for the period

If dividends were twice the capital stock issuances of $20,000, how much was net income for the period

  Based on the corporate valuation model bernile incs value

based on the corporate valuation model bernile inc.s value of operations is 750 million. its balance sheet shows 50

  List all the entries made by spectacor in the final year

List all the entries made by Spectacor in the final year of the lease.

  Analyzing and journalizing payroll transactions

Kelsey Gunn is the only employee of Arsenault Company. His pay rate is $23.00 per hour with an overtime rate of 1 and 1/2 times for hours over 40 in a work week.

  Define social psychology and differentiate

Discuss the history of social psychology and describe the critical role this field of study has played in helping us to understand the thoughts, feelings, and behaviors of individuals throughout its evolution. Which key research developments have ..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd