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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 Budgeted unit sales (all on credit): $ 97 January February March April Raw materials requirement per unit of output Raw materials cost Direct labor requirement per unit of output Direct labor wage rate Predetermined overhead rate (all variable) Variable selling and administrative expense Fixed selling and administrative expense 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 10,000 12,000 13,300 15,200 4 pounds $ 1.00 per pound 2.5 direct labor-hours $ 23.00 per direct labor-hour $9.00 per direct labor-hour $ 3.10 per unit sold $ 70,000 per month B 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. The estimated cost of goods sold for February is closest to: Multiple Choice $270,000 $1,008,000 $846,000

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 Budgeted unit sales (all on credit): $ 97 January February March April Raw materials requirement per unit of output Raw materials cost Direct labor requirement per unit of output Direct labor wage rate Predetermined overhead rate (all variable) Variable selling and administrative expense Fixed selling and administrative expense 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 10,000 12,000 13,300 15,200 4 pounds $ 1.00 per pound 2.5 direct labor-hours $ 23.00 per direct labor-hour $9.00 per direct labor-hour $ 3.10 per unit sold $ 70,000 per month B 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. The estimated cost of goods sold for February is closest to: Multiple Choice $270,000 $1,008,000 $846,000

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter9: Profit Planning And Flexible Budgets
Section: Chapter Questions
Problem 34BEA: Performance Report Based on Budgeted and Actual Levels of Production Bowling Company budgeted the...
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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 Budgeted unit sales (all on credit): $ 97 January February March April Raw materials requirement per unit of output Raw materials cost Direct labor requirement per unit of output Direct labor wage rate Predetermined overhead rate (all variable) Variable selling and administrative expense Fixed selling and administrative expense 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 10,000 12,000 13,300 15,200 4 pounds $ 1.00 per pound 2.5 direct labor-hours $ 23.00 per direct labor-hour $9.00 per direct labor-hour $ 3.10 per unit sold $ 70,000 per month B 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. The estimated cost of goods sold for February is closest to: Multiple Choice $270,000 $1,008,000 $846,000
Transcribed Image Text: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 Budgeted unit sales (all on credit): $ 97 January February March April Raw materials requirement per unit of output Raw materials cost Direct labor requirement per unit of output Direct labor wage rate Predetermined overhead rate (all variable) Variable selling and administrative expense Fixed selling and administrative expense 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 10,000 12,000 13,300 15,200 4 pounds $ 1.00 per pound 2.5 direct labor-hours $ 23.00 per direct labor-hour $9.00 per direct labor-hour $ 3.10 per unit sold $ 70,000 per month B 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. The estimated cost of goods sold for February is closest to: Multiple Choice $270,000 $1,008,000 $846,000
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