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Lecture 10

MGAB03H3 Lecture Notes - Lecture 10: Icq


Department
Financial Accounting
Course Code
MGAB03H3
Professor
G.Quan Fun
Lecture
10

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MANAGEMENT
ACCOUNTING
Chapter 10
IN-CLASS
QUESTIONS (ICQs)
SOLUTION

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ICQ #1
10.26 Production Budget – Upward Inc.
Jan Feb Mar Quarter Apr May
Planned Sales 10,000 12,000 8,000 30,000 10,000 12,000
Desired Ending Inventory (% of next
month's sales) 5% 600 400 500 500 600
Total Required 10,600 12,400 8,500 30,500 10,600
Planned Beginning Inventory 900 600 400 900 500
Total Production 9,700 11,800 8,100 29,600 10,100
Production Budget

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ICQ #2
10.27 Direct Materials Budget – Upward Inc.
Jan Feb Mar Quarter Apr
Litre of Raw Materials Required 4.00 38,800 47,200 32,400 118,400 40,000
Desired Ending Inventory (% of next
month's production) 15% 7,080 4,860 6,000 6,000
Total Required 45,880 52,060 38,400 136,400
Planned Beginning Inventory 6,000 7,080 4,860 6,000
Total Purchases 39,880 44,980 33,540 118,460
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Cost of Raw Materials per Litre 1.50$ 59,820$ 67,470$ 50,310$ 177,600$
Raw Materials Budget
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