Your Perfect Assignment is Just a Click Away

We Write Custom Academic Papers

100% Original, Plagiarism Free, Customized to your instructions!

glass
pen
clip
papers
heaphones

Strayer University Cook Farm Supply Company Worksheet

Strayer University Cook Farm Supply Company Worksheet

Question Description

I’m working on a accounting multi-part question and need a sample draft to help me understand better.

Cook Farm Supply Company manufactures and sells a pesticide called Snare. The following data are available for preparing budgets for Snare for the first 2 quarters of 2020.

1. Sales: quarter 1, 29,200 bags; quarter 2, 42,200 bags. Selling price is $63 per bag.
2. Direct materials: each bag of Snare requires 5 pounds of Gumm at a cost of $3.80 per pound and 6 pounds of Tarr at $1.50 per pound.
3. Desired inventory levels:
Type of Inventory

January 1

April 1

July 1

Snare (bags) 8,200 12,200 18,400
Gumm (pounds) 9,300 10,300 13,200
Tarr (pounds) 14,500 20,300 25,300
4. Direct labor: direct labor time is 15 minutes per bag at an hourly rate of $16 per hour.
5. Selling and administrative expenses are expected to be 15% of sales plus $179,000 per quarter.
6. Interest expense is $100,000.
7. Income taxes are expected to be 30% of income before income taxes.

Your assistant has prepared two budgets: (1) the manufacturing overhead budget shows expected costs to be 125% of direct labor cost, and (2) the direct materials budget for Tarr shows the cost of Tarr purchases to be $303,000 in quarter 1 and $426,500 in quarter 2.

(Note: Do not prepare the manufacturing overhead budget or the direct materials budget for Tarr.)

Prepare the sales budget.

COOK FARM SUPPLY COMPANY
Sales Budget
choose the accounting period

Quarter

Six
Months

1

2

Expected unit sales

enter a number of units

enter a number of units

enter a number of units

Unit selling price

$enter a dollar amount

$enter a dollar amount

$enter a dollar amount

Total sales

$enter a total dollar amount

$enter a total dollar amount

$enter a total dollar amount

Prepare the production budget.

COOK FARM SUPPLY COMPANY
Production Budget
choose the accounting period

Quarter

Six
Months

1

2

select an opening production budget item

enter a number of units

enter a number of units

select between addition and deduction: select a production budget item enter a number of units enter a number of units
select a summarizing line for the first part

enter a total number of units for the first part

enter a total number of units for the first part

select between addition and deduction: select a production budget item enter a number of units enter a number of units
select a closing production budget item enter a total number of units enter a total number of units enter a total number of units

eTextbook and Media

Prepare the direct materials budget. (Round Cost per pound answers to 2 decimal places, e.g. 52.70.)

COOK FARM SUPPLY COMPANY
Direct Materials Budget—Gumm
choose the accounting period

Quarter

Six
Months

1

2

select an opening direct materials budget item

enter a number of units

enter a number of units

select an item enter the amount of pounds enter the amount of pounds
select a summarizing line for the first part enter a total amount of pounds for the first part enter a total amount of pounds for the first part

select between addition and deduction: select an item

enter the amount of pounds enter the amount of pounds
select a summarizing line for the second part enter a total amount of pounds for the second part enter a total amount of pounds for the second part

select between addition and deduction: select an item

enter the amount of pounds enter the amount of pounds
select a summarizing line for the third part enter a total amount of pounds for the third part enter a total amount of pounds for the third part
select an item $enter a dollar amount $enter a dollar amount
select a closing direct materials budget item $enter a total dollar amount $enter a total dollar amount $enter a total dollar amount

Prepare the direct labor budget. (Enter Direct labor time per unit in proportion to hours, e.g. for 45 minutes the proportion will be 0.75.)

COOK F

Order Solution Now

Our Service Charter

1. Professional & Expert Writers: Gold Grades only hire the best. Our writers are specially selected and recruited, after which they undergo further training to perfect their skills for specialization purposes. Moreover, our writers are holders of masters and Ph.D. degrees. They have impressive academic records, besides being native English speakers.

2. Top Quality Papers: Our customers are always guaranteed papers that exceed their expectations. All our writers have +5 years of experience. This implies that all papers are written by individuals who are experts in their fields. In addition, the quality team reviews all the papers before sending them to the customers.

3. Plagiarism-Free Papers: All papers provided by Gold Grades are written from scratch. Appropriate referencing and citation of key information are followed. Plagiarism checkers are used by the Quality assurance team and our editors just to double-check that there are no instances of plagiarism.

4. Timely Delivery: Time wasted is equivalent to a failed dedication and commitment. Gold Grades is known for timely delivery of any pending customer orders. Customers are well informed of the progress of their papers to ensure they keep track of what the writer is providing before the final draft is sent for grading.

5. Affordable Prices: Our prices are fairly structured to fit all groups. Any customer willing to place their assignments with us can do so at very affordable prices. In addition, our customers enjoy regular discounts and bonuses.

6. 24/7 Customer Support: At Gold Grades, we have put in place a team of experts who answer all customer inquiries promptly. The best part is the ever-availability of the team. Customers can make inquiries anytime.