1) Aramar Company has the following sales budget: Month Cash Sales Credit Sales February $24,000 $48,000 March 18,800 29,200 April 10,800 28,400 Collections of credit sales are 35% in the month of sale, 30% in the month after sale and 33% two months after sale. No uncollectible accounts are expected. Required: Prepare a schedule of cash collections for the three months. 2) The Scadoba Company has the following information available: Month Budgeted Sales March $150,000 April 153,000 May 151,000 June 254,500 July 252,500 The cost of goods sold rate is 38% and the desired ending inventory level is 25% of the next month's cost of sales. Required: Prepare a purchases budget for April, May and June. 3) Direct Material Direct Labor Std. price per unit of input $12 per foot $14 per hour Actual price per unit of input $14 per foot $13 per hour Std. inputs allowed per unit of output 5 feet 3 hours Actual units of input 2,500 feet 1,550 hours Actual units of output 600 units Required: Compute the price and quantity variances for direct materials and direct labor. 4) Progressive Company produces a product in a process-costing system involving several departments. The company uses the weighted-average method of product costing. The first department's data for the month of April follow: Units in beginning work-in-process inventory 25,000 Units started during April1 210,000 Units completed during April 180,000 Units in ending work-in-process inventory 55,000 Direct materials added in current month $188,000 Conversion costs added in current month $124,000 Direct materials?beginning work-in-process inventory $25,750 Conversion costs?beginning work-in-process inventory $3,225 Stage of Completion: Materials Conversion Costs Beginning work-in-process inventory 100% 30% Ending work-in-process inventory 100% 65% Required: A) Compute equivalent units for materials and conversion costs. B) Compute the cost per unit for materials and conversion costs. C) Compute the cost of the units transferred. D) Compute the cost of the ending work-in-process inventory. 5) Splitsville Company has two departments. Factory overhead costs are applied based on direct labor cost in Department A and machine hours in Department B. The following information is available: Budgeted Items Dept. A Dept. B Direct labor cost 280,000 $145,000 Machine hours 31,000 50,000 Factory overhead cost $185,000 $160,000 Actual data for Job #10 are as follows: Actual Items Dept. A Dept. B Direct materials requisitioned $10,000 $16,000 Direct labor cost $11,000 $14,000 Machine hours 5,000 3,000 Required: A) Compute the budgeted factory overhead rate for Department A. B) Compute the budgeted factory overhead rate for Department B. C) What is the total overhead cost for Job #10? D) If Job #10 consists of 80 units of product, what is the unit cost of this job?
Paper#4564 | Written in 18-Jul-2015Price : $25