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p9-1a - Name Date Instructor Course Managerial Accounting...

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FileName: 774792d28a1d49be39061971517b04c1b25ddabf.xls, Tab: Problem P9-1A, Page 1 of 2, 12/28/2011, 19:02:11 Name: Date: Instructor: Course: 1. Sales: Quarter 1 40,000 Bags Quarter 2 55,000 Bags Selling price per bag $60 2. Direct materials: Each bag of Basic II requires 6 pounds of Crup at a cost of $3.00 per pound and 10 pounds of Dert at $1.50 per pound. 3. Desired inventory levels: Type of Inventory January 1 April 1 July 1 Basic II (bags) 10,000 15,000 20,000 Crup (pounds) 9,000 12,000 15,000 Dert (pounds) 15,000 20,000 25,000 4. Direct labor: Direct labor time is 15 minutes per bag at an hourly rate of $12.00 per hour. 5. Selling and administrative expenses are expected to be 10% of sales plus $150,000 per quarter. 6. Income taxes are expected to be 30% of income from operations. Your assistant has prepared two budgets: (1) The manufacturing overhead budget shows expected costs to be 100% of direct labor costs. (2) The direct materials budget for Dert which shows the cost of Dert to be $682,500 in quarter 1 and $907,500 in quarter 2. Instructions: TILGER FARM SUPPLY COMPANY Title For the Six Months Ending June 30, 2005 Quarter Six Months 1 2 Expected unit sales Amount Amount Formula Title Amount Amount Amount Title Formula Formula Formula TILGER FARM SUPPLY COMPANY Title For the Six Months Ending June 30, 2005 Quarter Six Months 1 2 Expected unit sales Amount Amount Formula Title Amount Amount Formula Title Formula Formula Formula Title Amount Amount Formula Title Formula
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