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ACC 561 Week 5 Individual WileyPlus Assignment Exercise

This paperwork ACC 561 Week 5 Individual WileyPlus Assignment Exercise E20 2, E20 5, BE21 4, E22 5 includes answers to these exercises:

1) Exercise E20-2

Zeller Electronics Inc. produces and sells two models of pocket calculators, XQ-103 and XQ-104. The calculators sell for $12 and $25, respectively. Because of the intense competition Zeller faces, management budgets sales semiannually. Its projections for the first 2 quarters of 2010 are as follows.

Unit Sales

Product Quarter 1 Quarter 2

XQ- 103 20,000 25,000

XQ-104 12,000 15,000

No changes in selling prices are anticipated.

Complete the sales budget for the 2 quarters ending June 30, 2010. List the products and show for each quarter and for the 6 months, units, selling price, and total sales by product and in total.

2) Exercise E20-5

Moreno Industries has adopted the following production budget for the first 4 months of 2011.

Month Units Month Units

January 10,000 March 5,000

February 8,000 April 4,000

Each unit requires 3 pounds of raw materials costing $2 per pound. On December 31, 2010, the ending raw materials inventory was 9,000 pounds. Management wants to have a raw materials inventory at the end of the month equal to 30% of next month's production requirements.

Complete the direct materials purchases budget by month for the first quarter.

3) Brief Exercise BE21-4

Hannon Company expects to produce 1,200,000 units of Product XX in 2010. Monthly production is expected to range from 80,000 to 120,000 units. Budgeted variable manufacturing costs per unit are: direct materials $4, direct labor $6, and overhead $8. Budgeted fixed manufacturing costs per unit for depreciation are $2 and for supervision are $1. Complete the flexible manufacturing budget for the relevant range value using 20,000 unit increments.

4) Exercise E22-5

Compute the total materials variance and the price and quantity variances.

Total materials variance $3,400 Favorable

Materials

price variance $8,400 Favorable

Materials quantity variance $5,000 Unfavorable

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