Question : 111. The budget that summarizes future plans for the acquisition of : 1251650

111. The budget that summarizes future plans for the acquisition of fixed assets is the: 
A. direct materials purchases budget
B. production budget
C. sales budget
D. capital expenditures budget

112. Below is budgeted production and sales information for Bluebird Company for the month of December:
 

Product XXXProduct ZZZ

Estimated beginning inventory30,000 units18,000 units

Desired ending inventory32,000 units15,000 units

Anticipated sales520,000 units460,000 units

The unit selling price for product XXX is $5 and for product ZZZ is $14.

Budgeted production for product XXX during the month is: 
A. 522,000 units
B. 552,000 units
C. 518,000 units
D. 520,000 units

113. Below is budgeted production and sales information for Bluebird Company for the month of December:
 

Product XXXProduct ZZZ

Estimated beginning inventory30,000 units18,000 units

Desired ending inventory32,000 units15,000 units

Anticipated sales520,000 units460,000 units

The unit selling price for product XXX is $5 and for product ZZZ is $14.

Budgeted production for product ZZZ during the month is: 
A. 460,000 units
B. 475,000 units
C. 457,000 units
D. 463,000 units

114. Production and sales estimates for June are as follows:
 

Estimated inventory (units), June 116,000

Desired inventory (units), June 3018,000

Expected sales volume (units):

Area X4,000

Area Y6,000

Area Z5,500

Unit sales price$20

The number of units expected to be manufactured in June is: 
A. 15,500
B. 17,500
C. 16,500
D. 13,500

115. If the expected sales volume for the current period is 9,000 units, the desired ending inventory is 200 units, and the beginning inventory is 300 units, the number of units set forth in the production budget, representing total production for the current period, is: 
A. 9,000
B. 8,900
C. 8,700
D. 9,100

116. Consider the following budget information: materials to be used totals $64,750; direct labor totals $198,400; factory overhead totals $394,800; work in process inventory January 1, 2012, was expected to be $189,100; and work in progress inventory on December 31, 2012, is expected to be $197,600. What is the budgeted cost of goods manufactured? 
A. $649,450
B. $657,950
C. $197,600
D. $1,044,650

117. The budgeted finished goods inventory and cost of goods sold for a manufacturing company for the year 2012 are as follows: January 1 finished goods, $765,000; December 31 finished goods, $540,000; cost of goods sold for the year, $2,560,000. The budgeted costs of goods manufactured for the year is? 
A. $1,255,000
B. $2,335,000
C. $2,785,000
D. $3100,000

118. The budgeted finished goods inventory and cost of goods sold for a manufacturing company for the year 2012 are as follows: January 1 finished goods, $765,000; December 31 finished goods, $640,000; cost of goods sold for the year, $2,560,000. The budgeted costs of goods manufactured for the year is? 
A. $1,405,000
B. $2,560,000
C. $2,435,000
D. $3,965,000

119. The Warbler Jeans Company produces two different types of jeans. One is called the “Simple Life” and the other is called the “Fancy Life” The company’s Production Budget requires 353,500 units of Simple jeans and 196,000 Fancy jeans to be manufactured. It is estimated that 2.5 direct labor hours will be needed to manufacture one pair of Simple Life jeans and 3.75 hours of direct labor hours for each pair of Fancy Life jeans.

What is the total number of direct labor hours needed for both lines of jeans? 
A. 883,750 direct labor hours
B. 1,618,750 direct labor hours
C. 735,000 direct labor hours
D. 353,500 direct labor hours

120. Woodpecker Co. has $296,000 in accounts receivable on January 1. Budgeted sales for January are $860,000. Woodpecker Co. expects to sell 20% of its merchandise for cash. Of the remaining 80% of sales on account, 75% are expected to be collected in the month of sale and the remainder the following month. The January cash collections from sales are: 
A. $812,000
B. $688,000
C. $468,000
D. $984,000