Tobins Frozen Pizza Inc. has determined from its production budget the following estimated production volumes...
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Accounting
Tobins Frozen Pizza Inc. has determined from its production budget the following estimated production volumes for 12'' and 16'' frozen pizzas for November:
Units
12" Pizza
16" Pizza
Budgeted production volume
81,000
61,000
There are three direct materials used in producing the two types of pizza. The quantities of direct materials expected to be used for each pizza are as follows:
12" Pizza
16" Pizza
Direct materials:
Dough
0.55
lb. per unit
0.80
lbs. per unit
Tomato
0.25
0.40
Cheese
0.70
1.20
In addition, Tobins has determined the following information about each material:
Dough
Tomato
Cheese
Estimated inventory, November 1
2,800
lbs.
800
lbs.
3,100
lbs.
Desired inventory, November 30
2,100
lbs.
1,400
lbs.
2,900
lbs.
Price per pound
$0.70
$0.80
$1.05
This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below.
Open spreadsheet
Prepare November's direct materials purchases budget for Tobins Frozen Pizza Inc. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Round your final answers to the nearest dollar.
Tobins Frozen Pizza Inc.
Direct Materials Purchases Budget
For the Month Ending November 30
Dough
Tomato
Cheese
Total
Units required for production:
12" pizza
fill in the blank 2
fill in the blank 3
fill in the blank 4
16" pizza
fill in the blank 5
fill in the blank 6
fill in the blank 7
Desired inventory, November 1Desired inventory, November 30Estimated inventory, November 1Estimated inventory, November 30Supervisor salaries
fill in the blank 9
fill in the blank 10
fill in the blank 11
Total units available
fill in the blank 12
fill in the blank 13
fill in the blank 14
Desired inventory, November 1Desired inventory, November 30Estimated inventory, November 1Estimated inventory, November 30Supervisor salaries
fill in the blank 16
fill in the blank 17
fill in the blank 18
Total units to be purchased
fill in the blank 19
fill in the blank 20
fill in the blank 21
Unit price
x
$fill in the blank 22
x
$fill in the blank 23
x
$fill in the blank 24
Total direct materials to be purchased
$fill in the blank 25
$fill in the blank 26
$fill in the blank 27
$fill in the blank 28
Answer & Explanation
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