Question :
101. A plan that states the number of units to be : 1225633
101. A plan that states the number of units to be manufactured during each future period covered by the budget, based on the budgeted sales for the period and the levels of inventory needed to support future sales, is the:
A. Sales budget.
B. Merchandise purchases budget.
C. Production budget.
D. Cash budget.
E. Manufacturing budget.
102. Kyoto, Inc. predicts the following sales in units for the coming four months:
Although each month’s ending inventory of finished units should be 60% of the next month’s sales, the March 31 finished goods inventory is only 100 units. A finished unit requires five pounds of raw material B. The March 31 raw materials inventory has 200 pounds of B. Each month’s ending inventory of raw materials should be 30% of the following month’s production needs. The budgeted production for May is:
A. 200 units.
B. 212 units.
C. 268 units.
D. 280 units.
E. 292 units.
103. Kyoto, Inc. predicts the following sales in units for the coming four months:
Although each month’s ending inventory of finished units should be 60% of the next month’s sales, the March 31 finished goods inventory is only 100 units. A finished unit requires five pounds of raw material B. The March 31 raw materials inventory has 200 pounds of B. Each month’s ending inventory of raw materials should be 30% of the following month’s production needs. The budgeted purchases of pounds of raw material B during May should be:
A. 1,418 lb.
B. 1,460 lb.
C. 1,502 lb.
D. 264 lb.
E. 283 lb.
104. Kent Company’s May sales budget calls for sales of $900,000. The store expects to begin May with $50,000 of inventory and to end the month with $55,000 of inventory. Gross margin is typically 45% of sales. Compute the budgeted cost of merchandise purchases for May.
A. $550,000.
B. $500,000.
C. $495,000.
D. $460,000.
E. $490,000.
105. Kent Company anticipates total sales for April, May, and June of $800,000, $900,000, and $950,000 respectively. Cash sales are normally 25% of total sales. Of the credit sales, 30% are collected in the same month as the sale, 65% are collected during the first month after the sale, and the remaining 5% are not collected. Compute the amount of cash received from credit sales for May.
A. $561,500.
B. $652,500.
C. $817,500.
D. $592,500.
E. $890,000.
106. Kent Company anticipates total sales for April, May, and June of $800,000, $900,000, and $950,000 respectively. Cash sales are normally 25% of total sales. Of the credit sales, 30% are collected in the same month as the sale, 65% are collected during the first month after the sale, and the remaining 5% are not collected. Compute the amount of cash received from total sales for May.
A. $561,500.
B. $652,500.
C. $817,500.
D. $592,500.
E. $890,000.
107. Kent Company anticipates total sales for April, May, and June of $800,000, $900,000, and $950,000 respectively. Cash sales are normally 25% of total sales. Of the credit sales, 30% are collected in the same month as the sale, 65% are collected during the first month after the sale, and the remaining 5% are not collected. Compute the amount of cash received from credit sales for June.
A. $561,500.
B. $652,500.
C. $817,500.
D. $592,500.
E. $890,000.
108. Kent Company anticipates total sales for April, May, and June of $800,000, $900,000, and $950,000 respectively. Cash sales are normally 25% of total sales. Of the credit sales, 30% are collected in the same month as the sale, 65% are collected during the first month after the sale, and the remaining 5% are not collected. Compute the amount of cash received from total sales for June.
A. $561,500.
B. $652,500.
C. $817,500.
D. $592,500.
E. $890,000.
109. Kent Company anticipates total sales for April, May, and June of $800,000, $900,000, and $950,000 respectively. Cash sales are normally 25% of total sales. Of the credit sales, 30% are collected in the same month as the sale, 65% are collected during the first month after the sale, and the remaining 5% are collected in the second month. Compute the amount of accounts receivable reported on the company’s budgeted balance sheet for June 30.
A. $561,500.
B. $712,500.
C. $463,125.
D. $496,875.
E. $617,500.
110. Use the following information to determine the ending cash balance to be reported on the month ended June 30 cash budget.
a. Beginning cash balance on June 1, $94,000.
b. Cash receipts from sales, $413,000.
c. Budgeted cash disbursements for purchases, $268,000.
d. Budgeted cash disbursements for salaries, $95,000.
e. Other budgeted expenses, $57,000.
f. Cash repayment of bank loan, $32,000.
g. Budgeted depreciation expense, $34,000.
A. $55,000.
B. $21,000.
C. $87,000.
D. $112,000.
E. $78,000.
