Acct. Test 3 - Name Accounting 2302 Test 3 Spring 2007 1...

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Unformatted text preview: Name: __________________________ Accounting 2302 Test 3 Spring 2007 1. 25pts Bledso Supply Corporation manufactures and sells cotton gauze. Expected sales of gauze (in boxes) for upcoming months are as follows: June ....................... 36,000 July........................ 40,000 August................... 50,000 September.............. 38,000 October.................. 30,000 November.............. 24,000 December .............. 35,000 Management likes to maintain a finished goods inventory equal to 25% of the next month's estimated sales. Required: Prepare the company's production budget for the third quarter of this year (the months of July, August and September) in good form. Include a column for each month and a total column for the entire quarter. Bledso Supply Corporation Production Budget for the 3 rd Quarter July August September Total 2. 25pts The following materials standards have been established for a particular product: Standard quantity per unit of output ........... 0.2 grams Standard price ............................................. $18.90 per gram The following data pertain to operations concerning the product for the last month: Actual materials purchased........................... 4,800 grams Actual cost of materials purchased ............... $86,880 Actual materials used in production ............. 4,200 grams Actual output................................................. 21,080 units Actual output....
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This note was uploaded on 03/29/2008 for the course ACCT 2302 taught by Professor Shall during the Spring '08 term at Texas A&M University, Corpus Christi.

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Acct. Test 3 - Name Accounting 2302 Test 3 Spring 2007 1...

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