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5.38 Compreh ensive masterbudget in a manufacturingsettin Klandon Company manufactures decorative rocks for aquariums. Kim Klandon is preparing the budget for the quarter ended June 30. She has gathered the follow ing in formation 1.K landons sales manager reported that the company sold 12,000 bags of rocks in March. He has developed the follow ing sales forecast. The expected sales price is S1o per bag · April Mav Jun e July August 15.00O bags 20,000 bags 50,000 bags 30,000 bags 25,000 bags . 2.Sales personnel receive a 5 commission on every bag of rocks sold. The following monthly fixed selling and administrative expenses are planned for the quarter. However, these amounts do not include the depreciation increase resulting from the budgeted equipment purchase in June (see part 7) Varia ble Cost Unit Mon thly Fixed Selling and Administr ative Costs $1 O,0oo 25 00o Depreciation Salaries of sales personnel Advertising Management salaries $ .50 1,000 10,00o Miscellaneous 500 Bad debts 50 Total costs $46,5oo %1.00 3.A fter experiencing difficulty in supplying customers in a timely fashion due to inv entory shortages, the company established a policy requirin g the ending Finished Goods Inventory to equal 20% of the following months budgeted sales, in units. On March 31, 4,000 bags were on hand 4.Five pounds of raw materials are required to fill each bag of finished rocks. The company wants to have raw materials on hand at the end of each month equal to 10% of the following months production needs. On March 31, 13,00O pounds of materials were on hand - .5.The raww materials used in production cost $0.4O per pound. Half of the months purchases is paid for in the month of purchase, the other half in the following month. No discount is available 6.The standard labor alloved for one bag of rocks is 15 minutes. The current direct labor rate is $1O per hour.

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5.38 Compreh ensive masterbudget in a manufacturingsettin Klandon Company manufactures decorative rocks for aquariums. Kim Klandon is preparing the budget for the quarter ended June 30. She has gathered the follow ing in formation 1.K landon’s sales manager reported that the company sold 12,000 bags of rocks in March. He has developed the follow ing sales forecast. The expected sales price is S1o per bag · April Mav Jun e July August 15.00O bags 20,000 bags 50,000 bags 30,000 bags 25,000 bags . 2.Sales personnel receive a 5 commission on every bag of rocks sold. The following monthly fixed selling and administrative expenses are planned for the quarter. However, these amounts do not include the depreciation increase resulting from the budgeted equipment purchase in June (see part 7) Varia ble Cost Unit Mon thly Fixed Selling and Administr ative Costs $1 O,0oo 25 00o Depreciation Salaries of sales personnel Advertising Management salaries $ .50 1,000 10,00o Miscellaneous 500 Bad debts 50 Total costs $46,5oo %1.00 3.A fter experiencing difficulty in supplying customers in a timely fashion due to inv entory shortages, the company established a policy requirin g the ending Finished Goods Inventory to equal 20% of the following month’s budgeted sales, in units. On March 31, 4,000 bags were on hand 4.Five pounds of raw materials are required to fill each bag of finished rocks. The company wants to have raw materials on hand at the end of each month equal to 10% of the following month’s production needs. On March 31, 13,00O pounds of materials were on hand – .5.The raww materials used in production cost $0.4O per pound. Half of the month’s purchases is paid for in the month of purchase, the other half in the following month. No discount is available 6.The standard labor alloved for one bag of rocks is 15 minutes. The current direct labor rate is $1O per hour.

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