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141) The budgeted required production for February is closest to:
A) 11,020 units
B) 14,200 units
C) 10,600 units
D) 17,380 units
142) If the company estimates that it will need 59,550 pounds of raw material to satisfy
production needs in March, then the raw materials inventory balance at the end of February
should be closest to:
A) $23,820
B) $222,180
C) $22,040
D) $244,220
143) If the budgeted cost of raw materials purchases in February is $222,180, then the budgeted
accounts payable balance at the end of February is closest to:
A) $222,180
B) $88,872
C) $117,912
D) $133,308
144) The estimated direct labor cost for February is closest to:
A) $253,460
B) $456,000
C) $658,996
D) $28,652
145) The estimated unit product cost is closest to:
A) $20.80
B) $87.80
C) $79.80
D) $100.60
146) The estimated finished goods inventory balance at the end of February is closest to:
A) $74,880
B) $362,160
C) $316,080
D) $287,280
147) The estimated cost of goods sold for February is closest to:
A) $1,066,360
B) $220,480
C) $930,680
D) $845,880
148) The estimated selling and administrative expense for February is closest to:
A) $70,000
B) $58,680
C) $88,020
D) $18,020
149) The estimated net operating income (loss) for February is closest to:
A) $11,620
B) $81,620
C) $41,000
D) $29,640
150
Bonkowski Corporation makes one product and has provided the following information to help
prepare the master budget for the next four months of operations:
Budgeted selling price per unit
$
97
Budgeted unit sales (all on credit):
January
10,000
February
12,000
March
13,300
April
15,200
-
Raw materials requirement per unit of output
4
pounds
Raw materials cost
$
1.00
per pound
Direct labor requirement per unit of output
2.5
direct labor-hours
Direct labor wage rate
$
23.00
per direct labor-hour
Predetermined overhead rate (all variable)
$
9.00
per direct labor-hour
Variable selling and administrative expense
$
3.10
per unit sold
Fixed selling and administrative expense
$
70,000
per month
-
Credit sales are collected:
30% in the month of the sale
70% in the following month
Raw materials purchases are paid:
30% in the month of purchase
70% in the following month
The ending finished goods inventory should equal 30% of the following month's sales. The
ending raw materials inventory should equal 10% of the following month's raw materials
production needs.
150) The budgeted sales for February is closest to:
A) $1,474,400
B) $1,290,100
C) $1,164,000
D) $970,000
151) The expected cash collections for February is closest to:
A) $970,000
B) $1,028,200
C) $349,200
D) $679,000
152) The budgeted accounts receivable balance at the end of February is closest to:
A) $349,200
B) $814,800
C) $776,000
D) $1,164,000
153) The budgeted required production for February is closest to:
A) 12,390 units
B) 19,590 units
C) 15,990 units
D) 12,000 units
154) If the company estimates that it will need 55,480 pounds of raw material to satisfy
production needs in March, then the raw materials inventory balance at the end of February
should be closest to:
A) $55,108
B) $50,152
C) $4,956
D) $5,548
155) If the budgeted cost of raw materials purchases in February is $50,152, then the budgeted
accounts payable balance at the end of February is closest to:
A) $19,971
B) $50,152
C) $15,046
D) $35,106
156) The estimated direct labor cost for February is closest to:
A) $284,970
B) $712,425
C) $499,000
D) $30,975
157) The estimated unit product cost is closest to:
A) $70.50
B) $22.50
C) $84.00
D) $61.50
158) The estimated finished goods inventory balance at the end of February is closest to:
A) $335,160
B) $245,385
C) $281,295
D) $89,775
159) The estimated cost of goods sold for February is closest to:
A) $846,000
B) $270,000
C) $738,000
D) $1,008,000
160) The estimated selling and administrative expense for February is closest to:
A) $71,470
B) $37,200
C) $107,200
D) $70,000
161) The estimated net operating income (loss) for February is closest to:
A) $85,000
B) $48,800
C) $118,800
D) $86,000
