Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
The production department of Hareston Company has submitted the following forecast of units to be produced by quarter for the upcoming fiscal year:1st Quarter 2nd Quarter 3rd Quarter 4th QuarterUnits to be produced 6,000 7,000 8,000 5,000In addition, the beginning raw materials inventory for the first quarter is budgeted to be 2,400 pounds and the beginning accounts payable for the first quarter is budgeted to be $11,400.Each unit requires two pounds of raw material that costs $4 per pound. Management desires to end each quarter with an inventory of raw materials equal to 20% of the following quarter's production needs. The desired ending inventory for the fourth quarter is 3,750 pounds. Management plans to pay for 60% of raw material purchases in the quarter acquired and 40% in the following quarter. Each unit requires 0.75 direct labor-hours and direct labor-hour workers are paid $12 per hour.Requirement 1:(a) Prepare the company's direct materials budget. (Input all amounts as positive values. Omit the "$" sign in your response.)Hareston CompanyDirect Materials Budget1st Quarter 2nd Quarter 3rd Quarter 4th Quarter YearProduction needsLess/Add: Desired endinginventoryTotal needsLess/Add: BeginninginventoryRaw materials to be purchasedCost of raw materials to be purchased $$$$$(b) Prepare the schedule of expected cash disbursements for purchases of materials for the upcoming fiscal year. (Leave no cells blank - be certain to enter "0" wherever required. Omit the "$" sign in your response.)Schedule of Expected Cash Disbursements for Materials1st Quarter 2nd Quarter 3rd Quarter 4th Quarter YearAccounts payable,beginning balance $ $ $ $ $1st Quarter purchases2nd Quarter purchases3rd Quarter purchases4th Quarter purchasesTotal cash disbursementsfor materials $ $ $ $ $Requirement 2:Prepare the company's direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced. (Omit the "$" sign in your response.)Hareston CompanyDirect Labor Budget1st Quarter 2nd Quarter 3rd Quarter 4th Quarter YearTotal direct labor-hours neededTotal direct labor cost $ $ $ $ $
In the accounting department of Frobisher Company, a manufacturing company that produces a popular consumer product. You typically prepare the variance analysis report and present it to the management committee for their review.
The bonds were dated January 1, 20011. Interest is paid semiannually on January 1 and July 1. On April 1, Hanson purchased 1/2 of the bonds on the open market at 99 plus accrued interest and canceled them.
Using the information from part what would monthly sales in members and dollars have to be to achieve a target net income of $10,000 for the month?
Using the code of ethics for management accountants, evaluate the changes that Silverado's management is considering, and discuss the specific steps that Larry Stewart should take to resolve the situation.
Calculate the ratios for each of the 3 years - Gross profit to sales
Cottonwood considers catalogs as advertising and expenses the catalogs at the end of the month based on find how many catalogs are sent out during the month.
Calculate the amount of under applied or over applied overhead. How should this Amount be accounted for? Provide specific reasons for your proposals.
Angie prices the cookies at $3.56 each. Suppose that Angie can sell cracked cookies for $1.10 each. What could Angie price each cookie?
Describe what other tax revenue systems could you consider and how do you think they would be better or worse?
Suggest when could Bell Mountain buy the new accounting system?
These expenditures were incurred by Dunston Company in purchasing land: cash price $60,000; accrued taxes $5,000; attorney's fees $2,100; real estate broker's commission $3,300; and clearing and grading $3,500. What is the cost of the land
What is the recognized profit or loss on the sale of the building and the character of the profit?
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd