Quiz Bowl Questions

In April, Royal Company budgeted sales of 20,000 units at ₱10 each. What was the total budgeted sales for April?

The company collects 70% of sales in the same month, 25% the following month, and 5% is uncollectible. How much cash was collected from May sales during May?

Royal Company requires ending inventory equal to 20% of next month's sales. If July sales are 25,000 units, how many units should June's ending inventory be?

Each unit requires 5 pounds of material at ₱0.40 per pound. How much raw material is needed for May's production of 46,000 units?

Each unit requires 0.05 labor hours at ₱10 per hour. What is the total direct labor cost for June if 29,000 units are produced?

The predetermined overhead rate is based on direct labor-hours. If total overhead is ₱252,500 and direct labor hours are 5,050, what is the rate per hour?

What is the unit product cost under absorption costing?

How much was the budgeted net income for the second quarter?

Royal Company planned to pay dividends of ₱51,000 in April. How did this affect the cash budget?

By June 30, the budgeted ending cash balance was ₱43,000. What was the minimum cash balance required by management?