Answered Essay: uand Inc manufactures ban bo*p cu et ames lhe sell or 20 e ch och ro e equ res 4 ine feet o ber

uand Inc manufactures ban bo*p cu et ames lhe sell or 20 e ch och ro e equ res 4 ine feet o ber too whi costs 1.5 pe oot. ach orne takes appro nate y 30 m inutes to build and he abo ore averages 12 per hour. ana hes the olo hes the folowing inve ng vernor policies Ending finished goods irvertory should be 40 percent of rnext moths sales. Ending raw meterials invertory should be 30 percent of next months procuction Expecrad unr sales frames) for the upcoming months follow Merch May August / 2 0 S50 v noble marut cr ring ove 50.50 per unit sold. ead is ncurred at one ot 0 20 per procuced Annual toe mo acturing overhead is estim oned to be per month or e pected roduc ion of 4 DDO units for the e r 5eling onc ocmi i r ve expenses e est ated t 65 per mo mn o us lguana, Inc., hed S10,800 cash on hand n April 1.Of its sales, 80 percent s in cash. Of the credit seles, 50 percent is collected during the month of the sale, and 50 percent is collected durng the morth fallowing the sele Of a ma e els purchese, 80 percent s paid or during the month purchesed and 2 20 cent paid in he follo ing mort·Raw mencrials puchases or March to a ec $ 400. All otne operating costs a e pad during tha man h ncurred. Monthly xed manu acturing overhead includes $320 in cepreciaon During Aprl Iguana plans t pny $410Dor a pleca of equlpmant

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uand Inc manufactures ban bo*p cu et ames lhe sell or 20 e ch och ro e equ res 4 ine feet o ber too whi costs 1.5 pe oot. ach orne takes appro nate y 30 m inutes to build and he abo ore averages 12 per hour. ana hes the olo hes the folowing inve ng vernor policies Ending finished goods irvertory should be 40 percent of rnext moths sales. Ending raw meterials invertory should be 30 percent of next month’s procuction Expecrad unr sales frames) for the upcoming months follow Merch May August / 2 0 S50 v noble marut cr ring ove 50.50 per unit sold. ead is ncurred at one ot 0 20 per procuced Annual toe mo acturing overhead is estim oned to be per month or e pected roduc ion of 4 DDO units for the e r 5eling onc ocmi i r ve expenses e est ated t 65 per mo mn o us lguana, Inc., hed S10,800 cash on hand n April 1.Of its sales, 80 percent s in cash. Of the credit seles, 50 percent is collected during the month of the sale, and 50 percent is collected durng the morth fallowing the sele Of a ma e els purchese, 80 percent s paid or during the month purchesed and 2 20 cent paid in he follo ing mort·Raw mencrials puchases or March to a ec $ 400. All otne operating costs a e pad during tha man h ncurred. Monthly xed manu acturing overhead includes $320 in cepreciaon During Aprl Iguana plans t pny $410Dor a pleca of equlpmant

Expert Answer

 

Answer a
Sales Budget
April May June Total July August March
Sales in Units                       420                         470                         570                     1,460                  545                 595            360
Sp Per Unit                         20                           20                           20                           20                    20                    20               20
Total Sales in $                   8,400                     9,400                   11,400                   29,200            10,900           11,900         7,200
Cash Sales – 80%                   6,720                     7,520                     9,120                   23,360              8,720              9,520         5,760
Credit Sales – 20%                   1,680                     1,880                     2,280                     5,840              2,180              2,380         1,440
Schedule of Expected Cash Collections from Sales
April May June Total
Cash Sales                   6,720                     7,520                     9,120                   23,360
Collection from Accounts Receivables
Mar Sales                       720                         720
April Sales                       840                         840                            –                     1,680
May Sales                          –                         940                         940                     1,880
June Sales                            –                     1,140                     1,140
Total cash Collections                   8,280                     9,300                   11,200                   28,780
Answer b.
Frame Production Budget
April May June Total July August
Sales In units                       420                         470                         570                     1,460                  545                 595
Add: Closing Inventory in units – 40%                       188                         228                         218                         218                  238
Total Needs                       608                         698                         788                     1,678                  783
Less: opening Inventory in units – 40%                     (168)                      (188)                      (228)                      (168)               (218)
Required Production in Units                       440                         510                         560                     1,510                  565
Raw Material Purchase Budget
April May June Total July
Required Production in Units                       440                         510                         560                     1,510                  565
Bamboo required per Unit in Feet                            4                             4                             4                             4                      4
Total Bamboo required for Production                   1,760                     2,040                     2,240                     6,040              2,260
Add: Closing Raw Material Inventory – 30%                       612                         672                         678                         678
Total Needs                   2,372                     2,712                     2,918                     6,718
Less: opening Inventory in feets – 30%                     (528)                      (612)                      (672)                      (528)
Raw Material Purchased in feets                   1,844                     2,100                     2,246                     6,190
Cost of raw Material per feet                      1.50                       1.50                       1.50                       1.50
Cost of raw Material Purchased                   2,766                     3,150                     3,369                     9,285
Budgeted Direct Labor Costs
April May June Total July
Required Production in Units                       440                         510                         560                     1,510                  565
Lab. Hour required per unit                      0.50                       0.50                       0.50                       0.50                0.50
Total Labor Hours Required                       220                         255                         280                         755                  283
Lab. Rate per Hour                         12                           12                           12                           12                    12
Budgeted Direct Labor Costs                   2,640                     3,060                     3,360                     9,060              3,390
Budgeted Manufacturing Overhead
April May June Total
Required Production in Units                       440                         510                         560                     1,510                  565
Variable MOH per Unit                      0.20                       0.20                       0.20                       0.20                0.20
Total Variable MOH                         88                         102                         112                         302
Fixed MOH
Depreciation                       320                         320                         320                         960
Other MOH                       280                         280                         280                     1,440
Total Fixed MOH                       600                         600                         600                     2,400
Total MOH                       688                         702                         712                     2,702
Total Budgetd Selling & Admn. Expenses
April May June Total
No. Of Units Sold                       420                         470                         570                     1,460
Variable Selling & Admn. Exp. Per Unit                      0.50                       0.50                       0.50                       0.50
Total Variable selling & Admn. Exp.                       210                         235                         285                         730
Fixed selling & Admn. Exp.                       650                         650                         650                     1,950
Total selling & Admn. Exp.                       860                         885                         935                     2,680
Schedule of Cash payments to Suppliers
April May June Total
Cash Payment
Accounts Payable – March                       480                         480
April Purchases                   2,213                         553                     2,766
May Purchases                     2,520                         630                     3,150
June Purchases                     2,695                     2,695
Total Cash Payment to Suppliers                   2,693                     3,073                     3,325                     9,091
Budgeted Cash Payment
April May June Total
Cash Payment to Suppliers                   2,693                     3,073                     3,325                     9,091
Cash Payment of Variable MOH                         88                         102                         112                         302
Cash Payment of Fixed MOH                       280                         280                         280                         840
Cash Payment of Variable Selling & Admn. Exp.                       210                         235                         285                         730
Cash Payment of Fixed Selling & Admn. Exp.                       860                         885                         935                     2,680
Cash Paid for Equipment                   4,100                            –                            –                     4,100
Total Cash Payment Made                   8,231                     4,575                     4,937                   17,743
Cash Budget
April May June Total
Beginning Cash Balance                 10,800                   10,849                   15,574                   10,800
Add: Budgeted Cash Receipt                   8,280                     9,300                   11,200                   28,780
Less: Budgeted Cash Payments                 (8,231)                   (4,575)                   (4,937)                (17,743)
Preliminary Cash Balance                 10,849                   15,574                   21,837                   21,837
Cash Borrowed (Repaid)                          –                            –
Ending Cash Balance                 10,849                   15,574                   21,837                   21,837
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