Reference no: EM132516989
Milo Company manufactures beach umbrellas. The company is preparing detailed budgets for the third quarter and has assembled the following information to assist in the budget preparation
a. The Marketing Department has estimated sales as follows for the remainder of the year (in units):
July 38,500,
October 28,500,
August 87,000,
November 15,000,
September 56,000,
December 15,500
The selling price of the beach umbrellas is $14 per unit.
b. All sales are on account. Based on past experience, sales are collected in the following pattern:
30% in the month of sale
65% in the month following sale
5% uncollectible
Sales for June totaled $504,000.
c. The company maintains finished goods inventories equal to 15% of the following month's sales. This requirement will be met at the end of June.
d. Each beach umbrella requires 4 feet of Gilden, a material that is sometimes hard to acquire. Therefore, the company requires that the ending inventory of Gilden be equal to 50% of the following month's production needs. The inventory of Gilden on hand at the beginning and end of the quarter will be:
June 30 91,550 feet
September 30 ? feet
e. Gilden costs $0.60 per foot. One-half of a month's purchases of Gilden is paid for in the month of purchase; the remainder is paid for in the following month. The accounts payable on July 1 for purchases of Gilden during June will be $49,290.
Required:
Question 1: Calculate the estimated quantity of beach umbrellas that need to be produced in July, August, September, and October.
|
Should wentworth use plan-based human resource plan
: Should Wentworth use a plan-based human resource plan (HRP)? If so, why? Explain some of the approaches Wentworth could use when developing staffing models.
|
|
What average cost of each unit remaining in ending wip
: What is the average cost of each unit remaining in ending WIP? What is the cost of each unit completed and transferred out? What are the total equivalent units
|
|
Explain whether anselm and maimonides
: Explain whether Anselm and Maimonides would agree about whether we can have true (clear) ideas about God.
|
|
Explain how you would act to resolve this situation
: Explain how you would act to resolve this situation, by referring to at least three of the following key fundamental principles from the IESBA Code of Ethics
|
|
Solve the estimated quantity of beach umbrellas
: Milo Company manufactures beach umbrellas. Solve the estimated quantity of beach umbrellas that need to be produced in July, August, September, and October.
|
|
Probation and community service
: Your right, ethical relativism isn't always fair. I just find is to be the opposite of what you had mentioned on your youtube. I find that a poor
|
|
Increasing our moral self-awareness going forward
: Do you think it is possible that this pandemic might end up working as a psychological trigger for increasing our moral self-awareness going forward,
|
|
Find variable overhead rate variance for kellar corporation
: $840,000 of manufacturing overhead, where $610,000 of it was fixed. Based on this information, calculate the company's overhead flexible budget variance.
|
|
Contradicts the hedonist claims about pleasure
: Kant directly contradicts the hedonist claims about pleasure being the goal of life ("Hedonism" by Mill). Kant argues that the good will
|