Help Save & 7 Homework The management of Zigby Manufacturing prepared the follow
ID: 2510336 • Letter: H
Question
Help Save & 7 Homework The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2017 ance Sheet ,000 naterials 1,027,23 Total current assets (168.000 Liabilities and Equity 5 206,3s Short-ters notes payable total 11 Retained earnings Total liabilities and equity for April, May, and June of 2017, management gathers the following information for March total 23.300 units. Forecasted sales in units are as follows: Apri, 23,300: May, 17000, June, 21,900: and July Sales of 258,000 units are forecasted for the entire year The product's seling price is $26.00 per unit and its total product cost is $21.10 per unit Prev 7 of7 Next MacBook Air 2 3 4Explanation / Answer
Prepartion of Sales Budget April May June Sales Unit 23300 17000 21900 Selling Price/Unit $26 $26 $26 Budgeted Sales Value $605,800 $442,000 $569,400 Prepartion of Production Budget April May June July Sales Unit 23300 17000 21900 23300 Add: Ending Inventory (80% of Nex Month Sales) 13600 17520 18640 110000 Less Beginning Inventory 18640 13600 17520 18640 Production Unit 18260 20920 23020 114660 Preparation of Direct Labour Budget April May June July Production Unit 18260 20920 23020 114660 Labour Hours Require/Unit 0.50 0.50 0.50 Total Labour Minute for Production 9130 10460 11510 Laour Cost/Hour $8.00 $8.00 $8.00 Total Labour Cost $73,040 $83,680 $92,080 Preparation of Direct Material Purchase Budget April May June July Production Unit 18260 20920 23020 114660 Raw material Rquired for Prodcution Unit @ 0.5 Unit 9130 10460 11510 57330 Add: Ending Inventory 50% of Next Month 5230 5755 28665 Less: Beginning Inventory 4565 5230 5755 Total Raw Material Purchase ( Pound) 9795 10985 34420 Price/Unit $20.00 $20.00 $20.00 Total Raw Material Purchase Cost $195,900 $219,700 $688,400
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