ABC company produces and selling a single product. The following information relates to their budgeted operations for the 2023 financial year. Sales Cost per unit produced Assembly Department (N$8 per kilo) Finishing Department (N$10 per kilo) Period Quarter 1 Quarter 2 Quarter 3 REQUIRED: Units FACULTY OF COMMERCE, MANAGEMENT AND LAW A closing inventory of 15% of the next period's sales is required. The forecast sales for Quarter 4 are 36 000 units. From the company's history it was observed that the sales units for Quarter 4 of any year are the same. The standard material cost of one unit of finished product is: 42 000 48 000 33 000 5.1 Prepare the Direct Material Budget, in hours, for both Departments for each of the Quarter 1 9.1 lat NS 24 20
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- Two articles A and B are manufactured in a department. Sales for the year 2021 were planned as follows: Product 1st 2nd 3rd 4th Quarter Quarter Quarter Quarter (Units) (Units) (Units) (Units) Product 50,000 60,000 65,000 75,000 A Product 25,000 22,500 20,000 19,000 B Selling price were sh. 40 per unit for A and sh. 20 per unit for B respectively. Average sales return is 5 % of sales. What is the annual sales budget for the year 2021? Select one: Sh 11,730,000 O Sh 11,143,500 Sh 9,500,000 O Sh 10,750,000Two products A and B are manufactured in a department. Sales for the year 2020 were planned as follows: Product Quarter 1 Quarter 2 Quarter 3 Quarter 4 8000 10000 11000 14000 B 6000 8000 7500 5500 Selling prices in Quarter 1 were estimated as OMR 20 per unit for A and OMR 30 for B respectively. Average sales return are 5% of Sales . According to these estimates, which of the following is estimated Sales (OMR) in Quarter 3 for Product A? Select one: O a. 185600 O b. 254050 O c. The correct answer not available O d. 209000 e. 219600Two products A and B are manufactured in a department. Sales for the year 2020 were planned as follows: Product Quarter 1 Quarter 2 Quarter 3 Quarter 4 8000 10000 11000 14000 6000 8000 7500 5500 Selling prices in Quarter 1 were estimated as OMR 20 per unit for A and OMR 30 for B respectively. Average sales return are 5% of Sales. According to these estimates, which of the following is estimated Sales (OMR) in Quarter 3 for Product A?
- Two products DH1 and DH2are manufactured in a department. Sales for the year 2022 were planned as follows: Product Quarter 1 Quarter 2 Quarter 3 Quarter 4 DH1 9000 12000 14000 16000 DH2 7000 9000 1000 12000 Selling prices in Quarter 1 were estimated as OMR 20 per unit for DH1 and OMR 30 for DH2 respectively. Average sales return are 10% of Sales. According to these estimates, which of the following is estimated Sales (OMR) in Quarter 4 for Product DH1? Select one: a. 394129 b. 389253 c. 383328 d. 366000Current Attempt in Progress During 2022, Bridgeport Corp. produced 45,100 units and sold 36,080 for $14.00 per unit. Variable manufacturing costs were $4.00 per unit. Annual fixed manufacturing overhead was $108,240. Variable selling and administrative costs were $3.00 per unit sold, and fixed selling and administrative expenses were $19,900. (a) Prepare an absorption-costing income statement. Sales Cost of goods sold Beginning inventory Add Goods available for sale Less Costs of goods manufactured Bridgeport Corp. Income Statement-Absorption Costing For the Year Ended December 31, 2022 V Ending inventory $ 0 288640 288640 $ $ 505120Calculate gross profit, cost of goods sold, and selling price MBI Inc, had sales of $900 million for fiscal 2022. The company’s gross profit ratio for that year was 37.5%.Required:Calculate the gross profit and cost of goods sold for MBI for fiscal 2022.Assume that a new product is developed and that it will cost $1,625 to manufacture. Calculate the selling price that must be set for this new product if its gross profit ratio is to be the same as the average achieved for all products for fiscal 2022.From a management viewpoint, what would you do with this information?
- The following sales information was extracted from the books of APEX Ltd during 2020. The company produces two products, Natural life and physical life. Sales forecast January- April 2020 Details January February March April Total Natural life 1,800 2,200 3,200 2,500 9,700 Physical life 2,200 1,700 1,500 2,700 8,100 Notes: The ending stock of finished goods each month is to be held equal to 20% of the forecasted sales for the next month. Raw material stocks at the end of each month are to be held at a level equal to twenty-five (25%) percent of the sales for that month. Sales for December 31, 2019 were Natural life 3,000 units; and Physical life 2,600 units. To make one unit of Natural life, five (5) units of raw material X12 are used, while four (4) units of raw material Z100 are used to make one unit of Physical life During 2020 the company sold one unit of Natural life for $650 and one unit of Physical life for $775. Budgeted sales for…The following sales information was extracted from the books of APEX Ltd during 2020. The company produces two products, Natural life and physical life. Sales forecast January- April 2020 Details January February March April Total Natural life 1,800 2,200 3,200 2,500 9,700 Physical life 2,200 1,700 1,500 2,700 8,100 Notes: The ending stock of finished goods each month is to be held equal to 20% of the forecasted sales for the next month. Raw material stocks at the end of each month are to be held at a level equal to twenty-five (25%) percent of the sales for that month. Sales for December 31, 2019 were Natural life 3,000 units; and Physical life 2,600 units. To make one unit of Natural life, five (5) units of raw material X12 are used, while four (4) units of raw material Z100 are used to make one unit of Physical life During 2020 the company sold one unit of Natural life for $650 and one unit of Physical life for $775. Budgeted sales for…The following sales information was extracted from the books of APEX Ltd during 2020. The company produces two products, Natural life and physical life. Sales forecast January- April 2020 Details January February March April Total Natural life 1,800 2,200 3,200 2,500 9,700 Physical life 2,200 1,700 1,500 2,700 8,100 Notes: The ending stock of finished goods each month is to be held equal to 20% of the forecasted sales for the next month. Raw material stocks at the end of each month are to be held at a level equal to twenty-five (25%) percent of the sales for that month. Sales for December 31, 2019 were Natural life 3,000 units; and Physical life 2,600 units. To make one unit of Natural life, five (5) units of raw material X12 are used, while four (4) units of raw material Z100 are used to make one unit of Physical life During 2020 the company sold one unit of Natural life for $650 and one unit of Physical life for $775. Budgeted sales for…
- The following sales information was extracted from the books of APEX Ltd during 2020. The company produces two products, Natural life and physical life. Sales forecast January- April 2020 Details January February March April Total Natural life 1,800 2,200 3,200 2,500 9,700 Physical life 2,200 1,700 1,500 2,700 8,100 Notes: The ending stock of finished goods each month is to be held equal to 20% of the forecasted sales for the next month. Raw material stocks at the end of each month are to be held at a level equal to twenty-five (25%) percent of the sales for that month. Sales for December 31, 2019 were Natural life 3,000 units; and Physical life 2,600 units. To make one unit of Natural life, five (5) units of raw material X12 are used, while four (4) units of raw material Z100 are used to make one unit of Physical life During 2020 the company sold one unit of Natural life for $650 and one unit of Physical life for $775. Budgeted sales for…hollow company manufactures and sells one product only. following financial information have been obtained for next four quarters of the year 2016: quarter-1 quarter-2 quarter-3 quarter-4 sales in units 300 400 400 600 further information price will remain for the first and second quarter rs. 200 and third and fourth quarter rs. 190 for each product respectively. sales at 70% realized in the quarter of sales. balance 30% realized in the next quarter. required: a sales budget, including a schedule of expected cash receipts for the year 2016Use the information provided below to calculate the Cost of sales for 2023. INFORMATION Oyster Manufacturers had an inventory of 30 000 units of Product B (at a production cost of R11 per unit) on 01 January 2023. An additional 600 000 units are expected to be produced during 2023. The unit production cost of Product B is expected to be R12 per unit during 2023. An inventory of 45 000 units is expected on 31 December 2023. The first-in-first-out method of valuing inventories is used.