can you help please thank your for your time :) Croy Incorporated has the following projected sales for the next five months:MonthAprilMayJuneJulyAugustSales inUnits3,5103,8304,5204,1903,940Croy's finished goods inventory policy is to have 50 percent of the next month's sales on hand at the end of each month. Directmaterials cost $3.00 per pound, and each unit requires 2 pounds. Direct materials inventory policy is to have 50 percent of the nextmonth's production needs on hand at the end of each month. Direct materials on hand at March 31 totaled 3,670 pounds.Required:1. Determine budgeted production for April, May, and June.2. Determine budgeted cost of direct materials purchased for April and May.Complete this question by entering your answers in the tabs below.Required 1 Required 2Determine budgeted production for April, May, and June.Note: Do not round your intermediate calculations and round your final answers to the nearest whole number.Budgeted Production (Units)AprilMayJune Determine budgeted cost of direct materials purchased for April and May.Note: Use rounded Budgeted Production units in intermediate calculations. Round your answers to 2 decimal places.AprilBudgeted Cost of Material PurchasedMay

Name: can you help please thank your for your time :) Croy Incorporated has
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Description: can you help please thank your for your time :) Croy Incorporated has the following projected sales for the next five months:MonthAprilMayJuneJulyAugustSales inUnits3,5103,8304,5204,1903,940Croy's finished goods inventory policy is to have 50 percent

Answer : 1) Production Budget : April may June Budgeted sale 3510 3830 4520 Add : Closing…

Answered: 3,510 3,830 4,520 4,190 3,940

Business

Accounting

3,510 3,830 4,520 4,190 3,940

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter22: Master Budget (master)

Section: Chapter Questions

Problem 1R: Ranger Industries has provided the following information at June 30: Other information: Average...

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Ranger Industries has provided the following information at June 30: Other information: Average selling price, 196 Average purchase price per unit, 110 Desired ending inventory, 40% of next months unit sales Collections from customers: In month of sale20% In month after sale50% Two months after sale30% Projected cash payments: Inventory purchases are paid for in the month following acquisition. Variable cash expenses, other than inventory, are equal to 25% of each months sales and are paid in the month of sale. Fixed cash expenses are 40,000 per month and are paid in the month incurred. Depreciation on equipment is 2,000 per month. REQUIREMENT You have been asked to prepare a master budget for the upcoming quarter (July, August, and September). The components of this budget are a monthly sales budget, a monthly purchases budget, a monthly cash budget, a forecasted income statement for the quarter, and a forecasted September 30 balance sheet. The worksheet MASTER has been provided to assist you. Ranger Industries desires to maintain a minimum cash balance of 8,000 at the end of each month. If this goal cannot be met, the company borrows the exact amount needed to reach its goal. If the company has a cash balance greater than 8,000 and also has loans payable outstanding, the amount in excess of 8,000 is paid to the bank. Annual interest of 18% is paid on a monthly basis on the outstanding balance.
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Croy Inc. has the following projected sales for the next five months: Month Salen in Unita 3,850 3,875 4, 260 4,135 3,590 April May June July August Croy's finished goods inventory policy is to have 60 percent of the next month's sales on hand at the end of each month, Direct materials cost $3.10 per pound, and each unit requires 2 pounds. Direct materials inventory policy is to have 50 percent of the next month's production needs on hand at the end of each month. Direct materials on hand at March 31 totaled 3,865 pounds. Required: 1. Determine budgeted production for April, May, and June. 2. Determine budgeted cost of materials purchased for April and May.
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Croy Inc. has the following projected sales for the next five months: Month Sales in Units April 3,450 May 3,940 June 4,640 July 4,180 August 3,980 Croy’s finished goods inventory policy is to have 50 percent of the next month’s sales on hand at the end of each month. Direct materials costs $3.00 per pound, and each unit requires 2 pounds. Direct materials inventory policy is to have 50 percent of the next month’s production needs on hand at the end of each month. Direct materials on hand at March 31 totaled 3,695 pounds. Required: 1. Determine budgeted production for April, May, and June. 2. Determine budgeted cost of materials purchased for April and May.
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