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Crane Company estimates that unit sales will be 8,000 in quarter 1, 11,200 in quarter 2, 12,000 in quarter 3, and 14,400 in
quarter 4. Using a unit selling price of $68 per unit.
Prepare the sales budget by quarters for the year ending December 31, 2022.
CRANE COMPANY
Sales Budget
Quarter
1 2 3 4
$ $ $ $ $
$ $ $ $ $
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Crane Company management wants to maintain a minimum monthly cash balance of $20,000. At the beginning of April, the cash
balance is $20,000, expected cash receipts for April are $196,000, and cash disbursements are expected to be $204,000.
How much cash, if any, must be borrowed to maintain the desired minimum monthly balance?
Amount to be borrowed to maintain the desired minimum monthly balance $
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Vaughn Company estimates that unit sales will be 12,400 in quarter 1, 17,360 in quarter 2, 18,600 in quarter 3, and 22,320 in
quarter 4. The unit selling price is $70. Management desires to have an ending �nished goods inventory equal to 25% of the next
quarter’s expected unit sales.
Prepare a production budget by quarters for the �rst 6 months of 2022.
VAUGHN COMPANY
Production Budget
Quarter
1 2 Six Months
:
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Bramble Company expects to have a cash balance of $43,200 on January 1, 2022. Relevant monthly budget data for the �rst 2
months of 2022 are as follows.
Collections from customers: January $81,600, February $144,000.
Payments for direct materials: January $48,000, February $72,000.
Direct labor: January $28,800, February $43,200. Wages are paid in the month they are incurred.
Manufacturing overhead: January $20,160, February $24,000. These costs include depreciation of $1,440 per month. All other
overhead costs are paid as incurred.
Selling and administrative expenses: January $14,400, February $19,200. These costs are exclusive of depreciation. They are
paid as incurred.
Sales of marketable securities in January are expected to realize $11,520 in cash. Bramble Company has a line of credit at a local
bank that enables it to borrow up to $24,000. The company wants to maintain a minimum monthly cash balance of $19,200.
Prepare a cash budget for January and February.
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BRAMBLE COMPANY
Cash Budget
January February
$ $
:
:
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For Crane Company, units to be produced are 4,000 in quarter 1 and 5,600 in quarter 2. It takes 1.6 hours to make a �nished unit,
and the expected hourly wage rate is $14 per hour.
Prepare a direct labor budget by quarters for the 6 months ending June 30, 2022.
CRANE COMPANY
Direct Labor Budget
Quarter
1 2 Six Months
$ $
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For the quarter ended March 31, 2022, Pronghorn Company accumulates the following sales data for its newest guitar, The Edge:
$327,600 budget; $317,200 actual.
Prepare a static budget report for the quarter.
PRONGHORN COMPANY
Sales Budget Report
Product Line Budget Actual Difference
Guitar: The Edge $ $ $
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(a)
In Cheyenne Company, direct labor is $20 per hour. The company expects to operate at 8,800 direct labor hours each month. In
January 2022, direct labor totaling $181,280 is incurred in working 9,152 hours.
Prepare a static budget report.
CHEYENNE COMPANY
Static Direct Labor Budget Report
Product Line Budget Actual Difference
Direct Labor $ $ $
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For Lily Inc., variable manufacturing overhead costs are expected to be $16,800 in the �rst quarter of 2022, with
$4,200 increments in each of the remaining three quarters. Fixed overhead costs are estimated to be $33,600 in each quarter.
Prepare the manufacturing overhead budget by quarters and in total for the year.
LILY INC.
Manufacturing Overhead Budget
Quarter
1 2 3 4
$ $ $ $
$ $ $ $
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In Blue Spruce Company’s �exible budget graph, the �xed-cost line and the total budgeted cost line intersect the vertical axis at
$91,400. The total budgeted cost line is $337,940 at an activity level of 58,700 direct labor hours.
Compute total budgeted costs at 65,400 direct labor hours.
Total budgeted costs $
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Pronghorn Company expects to produce 1,248,000 units of Product XX in 2022. Monthly production is expected to range
from 83,200 to 124,800 units. Budgeted variable manufacturing costs per unit are direct materials $4, direct labor $5, and
overhead $6. Budgeted �xed manufacturing costs per unit for depreciation are $2 and for supervision are $1.
Prepare a �exible manufacturing budget for the relevant range value using 20,800 unit increments. (List variable costs before �xed
costs.)
PRONGHORN COMPANY
Monthly Flexible Manufacturing Budget
For the Year 2022
$ $ $
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