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Country Heather manufactures flower pots. It expects to sell 26,000 pots in 2014. The company...

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Accounting

Country Heather manufactures flower pots. It expects to sell 26,000 pots in 2014. The company had enough beginning inventory of direct materials to produce 8,000 pots and wants to maintain an ending direct materials inventory to produce 12,000 pots. Beginning inventory of finished pots totaled 2,000 pots and the company had a desired ending inventory of finished pots of 3,000 pots. The pots sell for $12 each. Direct material cost is $2.50 per pot, direct labor cost is $1.35 per pot, and factory overhead is 85 per pot.

Determine the budgeted sales for 2014 (in $)

Determine the budgeted production for 2014 (in pots)

Determine the budgeted cost of goods sold for 2014 (in $)

Determine the budgeted cost for DM, DL, & FOH for 2014.

Problem 2

Maddox Co's forecast of sales is as follows: October $40,000; November $80,000; December $120,000. Sales are 70% cash and 30% credit in any month. Credit sales are collected in full in the following month.

Determine the budgeted cash receipts for each of the 3 months?

Calculate the balance of Accounts Receivable on October 31 & November 30?

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