6. What is the balance of accounts payable on the June 30 budgeted balance sheet?

A) $32,175

B) $108,225

C) $146,250

D) $114,075

7. Friden Company has budgeted sales and production over the next quarter as follows:

The company has 20,000 units of product on hand at April 1. A minimum of 20% of the next month’s sales needs in units must be on hand at the end of each month. July sales are expected to be 140,000 units. Budgeted sales for June would be (in units):

A. 188,000

B. 160,000

C. 128,000

D. 184,000

Nittany Company sells three products with the following seasonal sales pattern:

Products

Quarter A B C

1 40% 30% 10%

2 30% 20% 40%

3 20% 20% 40%

4 10% 30% 10%

The annual sales budget shows forecasts for the different products and their expected selling price per unit as follows:

Product Units Selling Price

A 50,000 $ 8

B 125,000 20

C 62,500 12

8. A sales budget for the First quarter will show total revenue of

A) $ 400,000

B) $985,000

C) $3650,000

D) None of the above.

9. A sales budget for the year will show total revenue of

A) $ 4000,000

B) $237,500

C) $3650,000

D) None of the above.

10. Shamokin Manufacturing produces two products, Big and Bigger. Shamokin expects to sell 10,000 units of product Bigger and to have an inventory of 2,000 units of Bigger on hand at the end of the period. Currently, Shamokin has 800 units of Bigger on hand. Bigger requires two labor operations, molding and polishing. Each unit of Bigger requires one hour of molding and two hours of polishing. The direct labor rate for molding is $20 per molding hour and the direct labor rate for polishing is $25 per polishing hour. The expected number of hours of direct labor for Bigger is:

A) 8,800 hours of molding; 17,600 hours of polishing

B) 11,200 hours of molding; 22,400 hours of polishing

C) 17,600 hours of molding; 8,800 hours of polishing

D) 22,400 hours of molding; 11,200 hours of polishing

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