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- Concord Company produces and sells automobile batteries, the heavy-duty HD-240. The 2022 sales forecast is as follows. Quarter 1 2 3 4 HD-240 4,300 6,020 6,880 8,600 The January 1, 2022, inventory of HD-240 is 1,720 units. Management desires an ending inventory each quarter equal to 40% of the next quarter's sales. Sales in the first quarter of 2023 are expected to be 25% higher than sales in the same quarter in 2022. Prepare quarterly production budgets for each quarter and in total for 2022.Ivanhoe Company produces and sells automobile batteries, the heavy-duty HD-240. The 2022 sales forecast is as follows. Quarter HD-240 1 4,300 2 6,020 3 4 6,880 8,600 The January 1, 2022, inventory of HD-240 is 1,720 units. Management desires an ending inventory each quarter equal to 40% of the next quarter's sales. Sales in the first quarter of 2023 are expected to be 25% higher than sales in the same quarter in 2022. Prepare quarterly production budgets for each quarter and in total for 2022.Turney Company produces and sells automobile batteries, the heavy-duty HD-240. The 2020 sales forecast is as follows. Quarter 1 2 3 4 HD-240 5,400 7,430 8,450 10,230 The January 1, 2020, inventory of HD-240 is 2,160 units. Management desires an ending inventory each quarter equal to 40% of the next quarter's sales. Sales in the first quarter of 2021 are expected to be 25% higher than sales in the same quarter in 2020. Prepare quarterly production budgets for each quarter and in total for 2020.
- Turney Company produces and sells automobile batteries, the heavy-duty HD-240. The 2020 sales forecast is as follows. Quarter HD-240 1 5,200 2 7,110 8,190 10,240 The January 1, 2020, inventory of HD-240 is 2,080 units. Management desires an ending inventory each quarter equal to 40% of the next quarter's sales. Sales in the first quarter of 2021 are expected to be 25% higher than sales in the same quarter in 2020. Prepare quarterly production budgets for each quarter and in total for 2020. TURNEY COMPANY Production Budget Product HD-240 Quarter 1Turney Company produces and sells automobile batteries, the heavy-duty HD-240. The 2020 sales forecast is as follows. Quarter HD-240 1 5,100 2 7,410 3 8,180 4 10,470 The January 1, 2020, inventory of HD-240 is 2,040 units. Management desires an ending inventory each quarter equal to 40% of the next quarter’s sales. Sales in the first quarter of 2021 are expected to be 25% higher than sales in the same quarter in 2020.Prepare quarterly production budgets for each quarter and in total for 2020. TURNEY COMPANYProduction Budgetchoose the accounting period For the Year Ending December 31, 2020For the Month Ended December 31, 2020For the Quarter Ended December 31, 2020 Product HD-240 Quarter 1 2 3 4 Year select an opening production budget item Beginning Finished Goods UnitBeginning Direct MaterialsDesired…E21-4 Turney Company produces and sells automobile batteries, the heavy-duty HD-240. The 2017 sales forecast is as follows. HD-240 TE Quarter 1 5,000 7,000 8,000 10,000 4 The January 1, 2017, inventory of HD-240 is 2,000 units. Management desires an ending inventory each quarter equal to 40% of the next quarter's sales. Sales in the first quarter of 2018 are expected to be 25% higher than sales in the same quarter in 2017. Instructions Prepare quarterly production budgets for each quarter and in total for 2017.
- Turney Company produces and sells automobile batteries, the heavy-duty HD-240. The 2017 sales forecast is as follows. Quarter HD-240 1 5,100 2 7,320 3 8,280 4 10,430 The January 1, 2017, inventory of HD-240 is 2,040 units. Management desires an ending inventory each quarter equal to 40% of the next quarter’s sales. Sales in the first quarter of 2018 are expected to be 25% higher than sales in the same quarter in 2017.Prepare quarterly production budgets for each quarter and in total for 2017. TURNEY COMPANYProduction Budgetchoose the accounting period Product HD-240 Quarter 1 2 3 4 Year select an opening Production Budget item Enter a number of units Enter a number of units Enter a number of units Enter a number of units select between addition and deduction…10. Right Answer Company has the following sales forecast for the selected three-month period in 2018. April, P120,000; May, P70,000; June, P80,000. 70% of sales are collected in the month of sale, and the balance are collected in the following month. Accounts receivable balance in April 1, P100,000. Cash balance in April 1, P60,000. Minimum cash balance required is P50,000. Cash can be borrowed in the multiples of P10,000 from local bank (disregard the interest charges). What is the cash balance at the end of April assuming that cash is received only from customers and that P200,000 is the cash out during April? 11.Selected information from the accounting records of Check Answer Co. is as follows: Net accounts receivable at Dec. 31, 2018, P900,000; Net accounts receivable at Dec. 31, 2019, P1,000,000; Inventories at Dec. 31, 2018, P1,100,000; Inventories at Dec. 31, 2019, P1,200,000; Accounts receivable turnover, 5 times; inventory turnover, 4 times. What is Check Answer Company's…Journey's Umbrella Factory • Sales Forecast for Q4 in 2022: Selling price = $20 per umbrella o October 20,000 units o November 22,000 units o December 25,000 units o January '23 21,000 units • Journey's will begin Q4 with 28,000 units in finished goods (FG) • Journey's wants to end each month with 120% of the next month's projected sales in finished goodsinventory • Each umbrella requires 5 lbs. of direct material • Direct material costs $2.00 per lb. • Journey's will begin the 4th quarter with 10,000 lbs. of direct materials but would like o 20,000 lbs. of direct materials at the end of October, o 35,000 lbs. of direct materials at the end of November, and • 40,000 lbs. of direct materials at the end of December. • It takes 12 minutes of direct labor hours to make one umbrella • Workers earn $12 per hour Use the above information to answer the question below. QUESTION: What is the cost of direct materials to be bought for the month of December for Journey's? O $184,000 O $92,000 O…
- JoAnn Manufacturing has projected the following sales for the coming year 01 02 03 04 Sales $53,475 $59,725 $ 68,775 $ 74,050 The company places orders each quarter that are 30 percent of the following quarter's sales and has a 30-day payables period. What is the payment of accounts for the third quarter? Mutiple Choice O $21.360.00 121687.50 $22.22969 $19,72750Question Description The Rizza Pizza Inc’s forecasted sales forecast for Pizza's in Units for the next 12 months see below: Date Units Date Units APR, 2021 500,000 OCT, 2021 500,000 MAY, 2021 520,000 NOV, 2021 515,000 JUNE, 2021 515,000 DEC, 2022 530,000 JULY, 2021 520,000 JAN, 2022 520,000 AUG, 2021 500,000 FEB, 2022 530,000 SEP, 2021 520,000 MAR, 2022 540,000 *APR, 2022 sales forecast is expected to be 530,000 units. Each Pizza is sold to the retailer at $3. To meet its monthly sales, the company has mandated that monthly ending finished goods inventories are supposed to be equal to 25% of the next month’s sales in units. Rizza Pizza Inc currently does its own assembly production in house. Each pizza consists of 2 pounds of flour and the cost of each pound is $0.10. Each unit needs 0.10 labor hour from raw material preparation to finished package. The hourly pay rate to the assembling workers is $12 per hour.…Production Budg My Company forecasts sales in units for Quarter 1-4 2019 as follows: Selling price will remain at 300 Php for the wholeyear. Quarter 1-6,000 Quarter 2-7.200 Quarter 3-8,500 Quarter 4-10,800 eva nits. How many units should My Company produce in order to fulfill the expected sales of thecompany? 750 end of each quarter, Beginning inventory at the start of Quarter 1 amounts to Required: Prepare a Sales Budgetand ProductionBudget