1.PA LO 7.2 Lens Junction sells lenses for $45 each and is estimating sales of 15,000 units in January and 18,000 in February. Each lens consists of 2 pounds of silicon costing $2.50 per pound, 3 oz of solution costing $3 per ounce, and 30 minutes of direct labor at a labor rate of $18 per hour. Desired inventory levels are: Beginning inventory Finished goods Direct materials: silicon Direct materials: solution Jan. 31 4,500 8,500 11,200 Feb. 28 4,900 9,100 12,000 Mar. 31 5,000 9,200 13,000 Prepare a sales budget, production budget, direct materials budget for silicon and solution, and a direct labor budget.

1.PA LO 7.2 Lens Junction sells lenses for $45 each and is estimating sales of 15,000 units in January and 18,000 in February. Each lens consists of 2 pounds of silicon costing $2.50 per pound, 3 oz of solution costing $3 per ounce, and 30 minutes of direct labor at a labor rate of $18 per hour. Desired inventory levels are: Beginning inventory Finished goods Direct materials: silicon Direct materials: solution Jan. 31 4,500 8,500 11,200 Feb. 28 4,900 9,100 12,000 Mar. 31 5,000 9,200 13,000 Prepare a sales budget, production budget, direct materials budget for silicon and solution, and a direct labor budget.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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