Bonkowski Corporation makes one product and has provided the following information to help prepare the master budget for the next four months of operations: Budgeted selling price per unit$97Budgeted unit sales (all on credit): January 10,000 February 12,000 March 13,300 April 15,200 Raw materials requirement per unit of output 4poundsRaw materials cost$1.00per poundDirect labor requirement per unit of output 2.5direct labor-hoursDirect labor wage rate$23.00per direct labor-hourPredetermined overhead rate (all variable)$9.00per direct labor-hourVariable selling and administrative expense$3.10per unit soldFixed selling and administrative expense$70,000per monthCredit sales are collected:30% in the month of the sale70% in the following monthRaw materials
purchases are paid:30% in the month of purchase70% in the following monthThe ending finished goods inventory should equal 30% of the following month's sales. The ending raw materials inventory should equal 10% of the following month's raw materials production needs.The estimated finished goods inventory balance at the end of February is closest to: (Round your intermediate calculations to 2 decimal places.)
A. $335,160
B. $89,775
C. $245,385
D. $281,295
Answer: A
You might also like to view...
In the table above, the equilibrium exchange rate is shown as
The next five questions refer to the table below, which shows the supply and demand schedules of British pounds. Exchange Rate: Quantity of Pounds Supplied Dollars Per Pound Quantity of Pounds Demanded 100 $2.50 20 80 2.00 40 60 1.50 60 40 1.00 80 20 0.50 100 a. $2.50 per pound. b. $2.00 per pound. c. $1.50 per pound. d. $1.00 per pound.
Indicate whether each of the following statements is true or false.Use of residual income to evaluate managers of an investment center may avoid some of the suboptimization that can occur with use of return on investment as a performance measure.Residual income is stated as a ratio or percentage.One disadvantage with residual income as a measure of performance is that it causes smaller divisions to appear to do better than larger divisions.A balanced score card includes various non-financial performance measures as well as financial performance measures.The balanced scorecard is a holistic approach to evaluating management and division performance.
What will be an ideal response?
Which of the following would be the best illustration of a secondary belief or value?
A) belief in work B) belief in giving to charity C) belief in getting married D) belief in getting married early E) belief in being honest
Which of the following is an additional feature of a limited liability partnership compared to a limited partnership?
A) It has a general partner who does not participate in the day-to-day operations of the partnership. B) It limits the personal liability of limited partners to their contribution in the business. C) It restricts the general partner from taking high-risk projects. D) It protects each partner from any malpractice or negligence of another partner's actions.