Acg2071 final exam part 1



Crystal Company manufactures two models of microcassette recorders, VCH and MTV. Based on the following production data for April of the current year, prepare a production budget for April.











Estimated inventory (units), April 1









Desired inventory (units), April 30









Expected sales volume (units):







Eastern zone      









Midwest zone    









Western zone    








Image text transcribed for accessibility: Crystal Company manufactures two models of microcassette recorders, VCH and MTV. Based on the following production data for April of the current year, prepare a production budget for April.




The Svelte Jeans Company produces two different types of jeans. One is called the “Simple Life” and the other is called the “Fancy Life”. The company sales budget estimates that 350,000 of the Simple Life Jeans and 200,000 of the Fancy Life will be sold during 20xx. The Production Budget requires 353,500 units of Simple Life jeans and 196,000 Fancy Life jeans be manufactured. The Simple Life jeans require 3 yards of denim material, a zipper, and 25 yards of thread. The Fancy Life jeans require 4.5 yards of denim material, a zipper, and 40 yards of thread. Each yard of denim material costs $3.25, the zipper costs $.75 each, and the thread is $.01 per yard. There is enough material to make 2,000 jeans of each type at the beginning of the year. The desired amount of materials left in ending inventory is to have enough to manufacture 3,500 jeans of each type.

Prepare a Direct Materials Purchases Budget. If required, round your answers to two decimal please show work.



The treasurer of Systems Company has accumulated the following budget information for the first two months of the coming year:

March April
Sales. $450,000 $520,000
Manufacturing costs 290,000 350,000
Selling and administrative expenses 41,400 46,400
Capital additions 250,000 —

The company expects to sell about 35% of its merchandise for cash. Of sales on account, 80% are expected to be collected in full in the month of the sale and the remainder in the month following the sale. One-fourth of the manufacturing costs are expected to be paid in the month in which they are incurred and the other three-fourths in the following month. Depreciation, insurance, and property taxes represent $6,400 of the probable monthly selling and administrative expenses. Insurance is paid in February and a $40,000 installment on income taxes is expected to be paid in April. Of the remainder of the selling and administrative expenses, one-half are expected to be paid in the month in which they are incurred and the balance in the following month. Capital additions of $250,000 are expected to be paid in March.

Current assets as of March 1 are composed of cash of $45,000 and accounts receivable of $51,000. Current liabilities as of March 1 are composed of accounts payable of $121,500 ($102,000 for materials purchases and $19,500 for operating expenses). Management desires to maintain a minimum cash balance of $20,000.

Prepare a monthly cash budget for March and April.

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