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Question
Greco Company has prepared the following forecasts of monthly sales:| July | August | September | October | |
| Sales (in Units) "u00a6"u00a6"u00a6.. | 4,500 | 5,300 | 4,000 | 3,700 |
Greco has decided that the number of units in its inventory at the end of each month should equal 25% of the next month's sales. The budgeted cost per unit is $30.
(1) How many units should be in July's beginning inventory?
(2) What amount should be budgeted for the cost of merchandise purchases in July?
Answer
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Direct labor X X
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Variable manufacturing overhead
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Match the following
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Q:
Tim's Tools, a manufacturer of cordless drills, began operations this year. During this year, the company produced 20,000 units and sold 18,000 units. At year-end the company reported the following income statement using absorption costing:
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Given the Cool Pools Company data, what is net income using absorption costing?
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