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Rubber Steel Belts Total
Pounds required for production:
Passenger tires 1,470,000 210,000
Truck tires 1,482,000 152,000
Score:
Instructions
Answers are entered in the cells with gray backgrounds.
ON
SAFETY GRIP COMPANY
Direct Materials Purchases Budget
For the Year Ending December 31, 2016
Exercise 22-11
Name:
Solution
Section:
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a.
Dockers® 501 Jeans®
Expected units to be sold
Plus May 31 desired inventory
Total units
Less May 1 estimated inventory
Total units to be produced
b.
Inseam Outerseam Pockets Zipper Total
Minutes:
Dockers®
501 Jeans®
Total minutes
Total direct labor hours ( 60 minutes)
x Direct labor rate
Total direct labor cost
LEVI STRAUSS & CO.
Direct Labor Cost Budget
May 2016
Exercise 22-14
Name:
Section:
(assumed data)
LEVI STRAUSS & CO.
Production Budget
May 2016
(assumed data)
0%
Score:
Key Code:
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[Key code here]
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Instructions
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a.
Dockers® 501 Jeans®
Expected units to be sold 23,600 53,100
b.
Inseam Outerseam Pockets Zipper Total
Minutes:
Dockers® 42,030 46,700 14,010 28,020
501 Jeans® 47,970 74,620 47,970 31,980
(assumed data)
May 2016
LEVI STRAUSS & CO.
Production Budget
May 2016
(assumed data)
LEVI STRAUSS & CO.
Exercise 22-14
Name:
Solution
Section:
Direct Labor Cost Budget
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Score:
Instructions
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ON
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Variable factory overhead costs:
Total variable factory overhead costs
Fixed factory overhead costs:
Total fixed factory overhead costs
Total factory overhead costs
Key Code:
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Instructions
Factory Overhead Cost Budget
0%
Exercise 22-15
Name:
Section:
SWEET TOOTH CANDY COMPANY
Score:
For the Month Ending August 31, 2016
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Variable factory overhead costs:
14,000$
48,000
Total variable factory overhead costs 268,000$
Fixed factory overhead costs:
30,000$
Instructions
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ON
SWEET TOOTH CANDY COMPANY
Factory Overhead Cost Budget
For the Month Ending August 31, 2016
Exercise 22-15
Name:
Solution
Section:
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Score:
Factory insurance
Manufacturing supplies
Power and light
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Finished goods inventory, P1 and P2, June 1
Work in process inventory, June 1
Direct materials:
Direct materials (oil) inventory, June 1
Direct materials (oil) purchases
Cost of direct materials available for use
Direct materials (oil) inventory, June 30
Cost of direct materials placed in production
Direct labor
Factory overhead
Total manufacturing costs
Total work in process during the period
Work in process inventory, June 30
Cost of goods manufactured
Cost of finished goods available for sale
Finished goods inventory, P1 and P2, June 30
Cost of goods sold
DELAWARE CHEMICAL COMPANY
Cost of Goods Sold Budget
For the Month Ending June 30, 2017
Score:
Key Code:
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Instructions
0%
Exercise 22-16
Name:
Section:
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Finished goods inventory, P1 and P2, June 1 16,900$
Work in process inventory, June 1 12,900$
Direct materials:
Direct materials (oil) inventory, June 1 15,200$
Direct materials (oil) purchases 3,150,000
Cost of direct materials available for use 3,165,200$
Total manufacturing costs 3,789,100
Total work in process during the period 3,802,000$
Work in process inventory, June 30 13,500
Instructions
Answers are entered in the cells with gray backgrounds.
ON
DELAWARE CHEMICAL COMPANY
Cost of Goods Sold Budget
For the Month Ending June 30, 2017
Exercise 22-16
Name:
Solution
Section:
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Score:
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May June July
Projected total monthly sales
134,000$ 155,000$ 169,000$
May sales on account:
Collected in May
Collected in June
Collected in July
June sales on account:
Collected in June
Collected in July
July sales on account:
Collected in July
Total cash collected
Exercise 22-18
Name:
Section:
Score:
Key Code:
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Instructions
0%
Credit
Sales
Percent of
Credit Sales
PET PLACE SUPPLIES INC.
Schedule of Collections from Sales
For the Three Months Ending July 31, 2016
An asterisk (*) will appear to the right of an incorrect entry.
May June July
Projected total monthly sales
134,000$ 155,000$ 169,000$
May sales on account:
Collected in May 134,000$ 65% 87,100
July sales on account:
Collected in July 169,000$ 65% 109,850
For the Three Months Ending July 31, 2016
Exercise 22-18
Name:
Solution
Section:
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Credit
Sales
Percent of
Credit Sales
Score:
Instructions
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ON
PET PLACE SUPPLIES INC.
Schedule of Collections from Sales
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January February March
Budgeted expenses
117,000$ 136,400$ 150,200$
Payment of prior month's expense:
Pay in January
Pay in February
Pay in March
Payment of current month's expense:
Pay in January
Pay in February
Pay in March
Total cash paid
Schedule of Cash Payments for Operations
0%
Exercise 22-21
Name:
Section:
EASTGATE PHYSICAL THERAPY INC.
Percent
to Pay
For the Three Months Ending March 31, 2017
Score:
Key Code:
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Instructions
Unpaid
Expenses
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January February March
Budgeted expenses
117,000$ 136,400$ 150,200$
Payment of prior month's expense:
Pay in January 15,000$
Pay in February 88,100$ 30% 26,430$
Pay in March 108,700$ 30% 32,610$
Payment of current month's expense:
For the Three Months Ending March 31, 2017
Exercise 22-21
Name:
Solution
Section:
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Percent
to Pay
Unpaid
Expenses
Score:
Instructions
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ON
EASTGATE PHYSICAL THERAPY INC.
Schedule of Cash Payments for Operations
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Enter a zero in cells you would otherwise leave blank.
2016 2017 2018 2019
Building
Equipment
Information systems
Total
OMICRON INC.
Capital Expenditures Budget
For the Four Years Ending December 31, 2016-2019
Score:
Key Code:
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Instructions
0%
Exercise 22-22
Name:
Section:
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Enter a zero in cells you would otherwise leave blank.
2016 2017 2018 2019
Building
6,000,000$ 4,000,000$ -$ 3,500,000$
Score:
Instructions
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ON
OMICRON INC.
Capital Expenditures Budget
For the Four Years Ending December 31, 2016-2019
Exercise 22-22
Name:
Solution
Section:
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