Reference no: EM132755966
Rokosz Corporation makes one product and it provided the following information to help prepare the master budget for the next four months of operations:
a. The budgeted selling price per unit is $104. Budgeted unit sales for October, November, December, and January are 6,900, 7,100, 11,300, and 15,300 units, respectively. All sales are on credit.
b. Regarding credit sales, 20% are collected in the month of the sale and 80% in the following month.
c. The ending finished goods inventory equals 20% of the following month's sales.
d. The ending raw materials inventory equals 30% of the following month's raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $3.00 per pound.
e. The direct labor wage rate is $23.00 per hour. Each unit of finished goods requires 2.5 direct labor-hours
What is:
Problem 1) The expected cash collections for November?
Problem 2) The budgeted required production for November?
Problem 3) If 60,500 pounds of raw materials are required for production in December, then what is the budgeted cost of raw material purchases for November?
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