FINAL_Noreen2eExam08

FINAL_Noreen2eExam08 - NOREEN MANAGERIAL ACCOUNTING FOR...

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NOREEN MANAGERIAL ACCOUNTING FOR MANAGERS 2E Practice Exam – Chapter 8 Print these pages. Answer each of the following questions, explaining your answers or showing your work, as appropriate, and then compare your solutions to those provided at the end of the practice exam. 1. Frame-It Company produces and sells picture frames. To guard against out of stock situations, the company requires that 20% of the next month's sales be on hand at the end of each month. Budgeted sales of picture frames over the next three months are: January February March Budgeted sales in units 130,000 180,000 240,000 Compute budgeted production for February. 2. Santiago Company has budgeted production for next year as follows: First Quarter Second Quarter Third Quarter Fourth Quarter Production in units 80,000 96,000 128,000 112,000 Five pounds of raw materials are required for each unit produced. Required raw materials inventory at the end of each quarter is 10% of the next quarter's production needs. Compute budgeted purchases of raw materials for the third quarter.
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3. Daley Company plans to sell 86,000 units during the month of August. If the company has
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This note was uploaded on 11/08/2011 for the course ACCT 2200 taught by Professor Rose during the Spring '08 term at Kennesaw.

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FINAL_Noreen2eExam08 - NOREEN MANAGERIAL ACCOUNTING FOR...

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