SALE, PRODUCTION AND RAW MATERIAL PURCHASES BUDGETS ABC Corporation menulactures and sells two products. Thingone and Thingtwo. In July, 2019, Scarboruugh's Budgel Deparument gathered the lollowing dala in order to project sales and budget requirements for 2020: 2020 projected sales: Product Units Price Thingone Thingtwo 60,000 40,000 Rs. 70 Rs. 100 20120 invontorios (in units): Еxpected January 1, 2020 December 31, 2020 Product Desired Thingone Thingtwo 20,000 H,000 25,00N) 9,(000 To produce one unit of Thingone and Thingrwo, the following raw materials are used: Amount Used per Unit Raw Material Thingone Thingtwo 4lbs. A 5 Ibs. в 2lbs 3 Ibs. 1 unit Projecled data lur 2020 with respect to raw materials are as lollows: Anticipated Purchase Price (Rs) Desired Inventories January 01, 2020 December 31, 2020 Expected Inventories Raw Material 32,000 Ibs. 29,000lbs 36,000 Ibs. 32,(000 lhs. 7,(N0 units 6,000 units Required: Based on the above projections and hudget requirements for 2020 for 'thingne and Thingrwo, prepare the following 2020 budgets: a. Sales Budget. b. Production Budget C. Raw materials purchases budget.

SALE, PRODUCTION AND RAW MATERIAL PURCHASES BUDGETS ABC Corporation menulactures and sells two products. Thingone and Thingtwo. In July, 2019, Scarboruugh's Budgel Deparument gathered the lollowing dala in order to project sales and budget requirements for 2020: 2020 projected sales: Product Units Price Thingone Thingtwo 60,000 40,000 Rs. 70 Rs. 100 20120 invontorios (in units): Еxpected January 1, 2020 December 31, 2020 Product Desired Thingone Thingtwo 20,000 H,000 25,00N) 9,(000 To produce one unit of Thingone and Thingrwo, the following raw materials are used: Amount Used per Unit Raw Material Thingone Thingtwo 4lbs. A 5 Ibs. в 2lbs 3 Ibs. 1 unit Projecled data lur 2020 with respect to raw materials are as lollows: Anticipated Purchase Price (Rs) Desired Inventories January 01, 2020 December 31, 2020 Expected Inventories Raw Material 32,000 Ibs. 29,000lbs 36,000 Ibs. 32,(000 lhs. 7,(N0 units 6,000 units Required: Based on the above projections and hudget requirements for 2020 for 'thingne and Thingrwo, prepare the following 2020 budgets: a. Sales Budget. b. Production Budget C. Raw materials purchases budget.

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter8: Budgets And Bank Reconciliations

Section: Chapter Questions

Problem 3.6C

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