ASSESSMENT NUMBER 3- Wod Date Annette Company DPERATING BUDGETS For the Quarter

Question

ASSESSMENT NUMBER 3- Wod Date Annette Company DPERATING BUDGETS For the Quarter Ended March 31 Annette Company produces a caliber used in the production of automobile transmissions. The caliber is sold to automoble manufactures and automobile engine manufacturers. The Sales Price is $240 per unlt. The Budgeted (Expected) MONTH IANUARY FEBRUARY MARCH 30.000 40.000 50.000 Annette Company Sched* 2 Annette company's policy is to have twenty percent (20%) of next month's Badgeted (Expected) Sales in Ending Finished Goods laventory. In addition, each caliber requires four (4) pounds of metal ma Sales Schedule 1 Direct M which cost $12.50 per pound. Annette Company's policy is to have forty percent (40%) of next month's production needs in Ending Raw Materials (Direct Materials) Less Beginning Finshed Goods To be Produced Required Prepare a monthly Operating Budget for the first quarter of next year for the owing individual Budgets 1. Sales Budget 2. Production Budget 3. Direct Materials Purchases Budget

Explanation / Answer

1.Annette Company

Sales Budget

For the quarter ended March 31

2. Annette Company

Production Budget

For the quarter ending March 31

3. Annette Company

Direct Materials Purchases Budget

For the quarter ended March 31

January February March Total Budgeted Sales in Units 30,000 40,000 50,000 120,000 Sale Price $ 240 $ 240 $ 240 $ 240 Total Sales $ 7,200,000 $ 9,600,000 $ 12,000,000 $ 28,800,000

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