Copy of Final Exam Dean Sear h

Copy of Final Exam - Points Rec'd Q1 25 Q2 25 Q3 20 Q4 20 Q5 20 Q6 20 Q7 20 Total 150 A sales budget is given below for one of the products

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Unformatted text preview: Points Rec'd Q1 25 Q2 25 Q3 20 Q4 20 Q5 20 Q6 20 Q7 20 Total 150 A sales budget is given below for one of the products manufactured by the Key Co.: The company's production budget is as follows: The materials purchases budget (based on the above production budget) would be as follows: Required: Prepare a budget showing the quantity of switches to be purchased each month for January, February, and March and in total for the quarter. The inventory of finished goods at the end of each month must equal 20% of the next month's sales. On December 31, the finished goods inventory totaled 4,000 units. Each unit of product requires three specialized electrical switches. Since the production of these specialized switches by Key's suppliers is sometimes irregular, the company has a policy of maintaining an ending inventory at the end of each month equal to 30% of the next month's production needs. This requirement had been met on January 1 of the current year. Planning budget Activity Variances Flexible Budget Revenue and Spending VarianceActual Results Patient Visits 2600 2700 2700 Revenue 137540 5290F 142830 2360F 145190 Expenses: Personnel Expenses 80340 1740U 82080 2470F 79610 Medical Supplies 17740 640U 18380 280U 18660 Occupancy Expense 15680 230U 15910 770U 16680 Administrative Expenses 5980 30U 6010 130F 5880 Total Expense 119740 2640U 122380 1550F 120830 Net Operating Income 17800 F 20450 3910F 24360 Alto Clinic uses patient-visits as its measure of activity. The clinic has provided the following report:Alto Clinic uses patient-visits as its measure of activity....
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This note was uploaded on 12/17/2011 for the course ECON 101 taught by Professor Chapman during the Spring '11 term at Arcadia University.

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Copy of Final Exam - Points Rec'd Q1 25 Q2 25 Q3 20 Q4 20 Q5 20 Q6 20 Q7 20 Total 150 A sales budget is given below for one of the products

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