asinski Jew
Q: Lens Junction sells lenses for $45 each and is estimating sales of 15,000 units in January and…
A: Budget is prepared for controlling the costs incurred by estimating the costs and revenues in…
Q: Yorkshire Air Co. is working on its direct labor budget for the next two months. Each unit of output…
A: Direct LaborDirect labor costs are directly attributable to the production of units.
Q: the next three months as follows: July 4,5 he next month's sales needs on hand. July $8 per unit…
A: The budget is the estimation of revenue and expenditure of the company during a particular period. A…
Q: Alexa Products produces coat racks in Calgary, Canada. The accountant has presented you the…
A: Budgets are very important tool for management accounting. Budgets helps in estimating future…
Q: feaman expects to produce 1,750 units in January and 2,150 units in February. The company budgets…
A: Solution:- Preparation of Direct Material budget as follows under:- Direct Material budget shows how…
Q: Complete Shadee's budgeted income statement for the months of May and June. Required information…
A: Budgeted income statement.
Q: Magnolia, Inc. manufactures bedding sets. The budgeted production is for 11,100 comforters this…
A: Material budget: Material purchase budget determines the measure of direct materials that must be…
Q: ute is $9.50 per direct labor-hour. The production budget calls for producing 2,200 units in June…
A: Meaning of Direct labor Budget : The direct labor budget is useful the number of laborers who will…
Q: Magnolia, Inc. manufactures bedding sets. The budgeted production is for 24,200 comforters this…
A: Formula: Total materials required = Budgeted production units x Materials required per unit…
Q: Sunrise Poles manufactures hiking poles and is planning on producing 3,900 units in March and 3,500…
A: Desired ending inventory = April month Budgeted production x Material required per unit x 10% =…
Q: Striker Corporation is preparing its cash payments budget for next month. The following information…
A: Cash payments means the amount of payments that an entity has to make for the expenses incurred. It…
Q: Aldrin Co manufactures and sells only one product, roasted almonds. Budgeted production in bags for…
A: Budgeted cost of raw material purchase means for how much costs direct materials needs to be…
Q: Rida Incorporated is preparing its direct materials budget for the second quarter. It budgets…
A: The direct materials purchase budget is prepared to estimate the units and cost of direct materials…
Q: Jaybird Inc. produces leather handbags. The sales budget for the next four months is: July 5,500…
A: LABOUR COST BUDGET Labour Cost Budget is used to Estimates the total Labour Cost Required to…
Q: Whitmer Corporation is working on its direct labor budget for the next two months. Each unit of…
A: Direct labor budget is the statement prepared by the entity for the purpose of determining the…
Q: Davis Corp Is preparing its manufacturing overhead budget for the forth quarter of the year. The…
A: Total manufacturing costs includes the cost of direct material, direct labor and manufacturing…
Q: Begin by preparing a sales budget for April, May, and June.
A: Production budget is prepared at the beginning of the period that shows the units purchased,…
Q: Vargas Corporation is working on its direct labor budget for the next two months. Each unit of…
A: Lets understand the basics. Management prepared budget in order to estimate future profit and loss…
Q: and not considered for budgeting purposes. The balance in the Raw Materials Inventory account (all…
A: Direct materials budget is prepared to estimate the amount of units and its cost for the production…
Q: Zira Company reports the following production budget for the next four months. Each finished unit…
A: A budget is a forecast of revenue and expenses for a certain future period of time that is generally…
Q: Magnolia, Inc., manufactures bedding sets. The budgeted production is for 25,100 comforters this…
A: The budget is prepared to estimate the requirements for the period for finished products, raw…
Q: Magnolia, Inc., manufactures bedding sets. The budgeted production is for 30,600 comforters this…
A: Materials budget for the year = Budgeted material purchase x material costs per yard
Q: One Device makes universal remote controls and expects to sell 500 units in January, 800 in…
A: Production budget is prepared to estimate the number of units to be produced by a firm with the help…
Q: Grandma's Tassels has a desired ending finished goods inventory of 20% of next month's sales units,…
A: Budgeting is an important aspect of management accounting because the main focus of management…
Q: Sthilaire Corporation is working on its direct labor budget for the next two months. Each unit of…
A: CASH BUDGET Cash Budget is a detailed budget of cash income and cash expenditure incorporating both…
Q: Rida Incorporated is preparing its direct materials budget for the second quarter. It budgets…
A: This shows the quantity of materials to be purchased during the budget period.The purchase budget…
Q: Osborne Manufacturing produces self-watering planters for use in upscale retail establishments.…
A: Production Budget = Sales units + closing stock - openings stock
Q: Rida Incorporated is preparing its direct materials budget for the second quarter. It budgets…
A: The direct materials purchase budget is prepared to estimate the cost of direct materials to be…
Q: Meadow Company produces hand tools. A sales budget for the next four months is as follows: March…
A: Number of units to be produced in March = Ending finished goods inventory + Budgeted sales -…
Q: Balmforth Products, Inc. makes and sells a single product called a Bik. It takes three yards of…
A: Ending inventory of May = 14,500 units x 3 yards x 20% = 8,700 yards Production requirement = 12,600…
Q: determine the materials budget for the year.
A: Inventory: Inventory for a business refers to stock in hand, work in process, raw materials,…
Q: Garfield Corp. expects to sell 1,300 units of its pet beds in March and 900 units in April. Each…
A: Budgeted purchases = Budgeted cost of goods sold + Ending inventory - Beginning inventory Ending…
Q: The finished goods inventory on hand at the end of each month must equal 2,000 units of Supermix…
A: The budget is prepared to estimate the requirements for the period. The production budget is…
Q: What would be the total combined direct labor cost for the two months? Multiple Choice…
A: This expenditure represents the payment made to the labor force, which is directly involve in the…
Q: thilaire Corporation is working on its direct labor budget for the next two months. Each unit of…
A: Answer : Total Direct Labor Cost = Direct Labor cost per hour * Total direct labor hours paid
Q: Whitmer Corporation is working on its direct labor budget for the next two months. Each unit of…
A: Detailed explanation:Direct labor budget shows the total hours needed to produce the units required…
Q: Yordi expects to produce 1,900 units in January and 2,160 units in February. The company budgets…
A: The process of budgeting is used to plan the operations of the entity and its departments. To create…
Q: Pooler Corporation is working on its direct labor budget for the next two months. Each unit of…
A: DIRECT LABOUR BUDGET Direct Labor Budget is prepared to estimate the direct labor hours to be used…
Q: Becker Bikes manufactures tricycles. The company expects to sell 550 units in May and 680 units in…
A: MayJuneBudgeted cost of wheels purchased$41,250 $51,150 Explanation: Step 1: Construct the…
Q: Two Months Ended January 31 and February 28 Direct materials (pounds) per unit Direct materials…
A: Lets understand the basics. Management prepares master budget for the whole organization and other…
Q: orporation is working on its direct labor budget for the next two Ich unit of output requires 0.41…
A: Labour cost is important component of the product. Labour cost increases with increasing in…
Q: Pooler Corporation is working on its direct labor budget for the next two months. Each unit of…
A: Budgeting in cost accounting is the process of planning and allocating financial resources to…
Q: Kimball Company manufactures drinking glasses. One unit is a package of eight glasses, which sells…
A: Production budget :— This budget is prepared to estimate the number of units to be produced for…
Q: Rida, Inc., a manufacturer in a seasonal industry, is preparing its direct materials budget for the…
A: Definition:Direct material budget: The direct material budget shows how much raw material purchases…
Jasinski Jewelry produces a component for lapel pins. Budgeted production in April is 8,400 units. Each unit requires 1/3 ounce of gold, and 2 hours of direct labor time. It is estimated that Jasinski will have 100 ounces of gold on hand at April 1, and since management anticipates an increase in the price of gold in the coming months, the desired ending inventory at the end of April is 150 ounces. The
1) Prepare a direct materials budget.
2) Prepare a direct labor budget.
Step by step
Solved in 3 steps with 2 images
- Electro Company manufactures transmissions for electric cars. Management reports ending finished goods inventory for the first quarter at 90,000 units. The following unit sales are budgeted during the rest of the year: second quarter, 450,000 units; third quarter, 525,000 units; and fourth quarter, 475,000 units. Company policy calls for the ending finished goods inventory of a quarter to equal 20% of the next quarter's budgeted unit sales. Prepare a production budget for both the second and third quarters that shows the number of transmissions to manufacture. ELECTRO COMPANY Production Budget Next period budgeted sales units Desired ending inventory units Total required units Units to produce Second Quarter Third QuarterSunrise Poles manufactures hiking poles and is planning on producing 3,646 units in March and 4,395 in April. Each pole requires a half pound of material, which costs $1.17 per pound. The company’s policy is to have enough material on hand to equal 7% of the next month’s production needs and to maintain a finished goods inventory equal to 17% of the next month’s production needs. What is the budgeted cost of purchases for March? Round to the nearest penny, two decimal places.Alexa Products produces coat racks in Calgary, Canada. The accountant has presented you the following budgeted data for the second quarter of 2021. Sales are forecasted to be 80,000 units at a price per unit of $32. The budgeted beginning and ending finished goods inventories are 5,000 and 15,000 units respectively. It is estimated that each rack requires four kilograms of metal at a budgeted price of $4 per kg. The beginning raw materials inventory is estimated as 3,200 kilograms. Alexa Products wants to keep ending raw materials inventory of 5,400 due to fluctuations in demand. Each rack requires 1.5 hours of direct labour and the standard hourly pay rate is $20. Required: (please show all steps of your computation in proper format) 4. Prepare a direct labour budget for the second quarter of 2021. 5. Mr Peter started a business by acquiring a medium sized manufacturing firm. He hired you to work in the accounting department. You are in charge of providing management accounting…
- Jillian Inc. produces leather handbags. The production budget for the next four months is: July 5,100 units, August 7,300, September 7,700, October 8,500. Each handbag requires 1.3 hours of unskilled labor (paid $13 per hour) and 3.1 hours of skilled labor (paid $18 per hour). How much will be paid to skilled labor during the three months July through September? Multiple Choice $361,800 $1,311,300 $6,512,400 $1,121,580Depasquale Corporation is working on its direct labor budget for the next two months. Each unit of output requires 0.51 direct labor-hours. The direct labor rate is $8.80 per direct labor-hour. The production budget calls for producing 5,700 units in May and 6,100 units in June. If the direct labor work force is fully adjusted to the total direct labor-hours needed each month, what would be the total combined direct labor cost for the two months? Multiple Choice O $26,479.20 $25,581.60 $27,376.80 O $52,958.40Zira Company reports the following production budget for the next four months. Each finished unit requires four pounds of direct materials, and the company wants to end each month with direct materials inventory equal to 30% of next month's production needs. Beginning direct materials inventory for April was 847 pounds. Direct materials cost $5 per pound. Prepare a direct materials budget for April, May, and June. (Round your answers to the nearest whole number.) Units to produce April May June 706 760 738 Units to produce Materials required per unit Materials needed for production (pounds) Add: Desired ending materials inventory (pounds) Total materials required (pounds) Less: Beginning materials inventory (pounds) Materials to purchase (pounds) Materials cost per pound Cost of direct materials purchases July 718 ZIRA COMPANY Direct Materials Budget April $ $ 706 4 2,824 2,824 ↑ 5 $ 0 $ May 760 4 3,040 Saved 3,040 June 5 $ 0 $ 738 units 4 pounds 2,952 pounds 2,952 pounds 5 per pound 0…
- Beckett Manufacturing produces self-watering planters for use in upscale retail establishments. Sales projections for the first five months of the upcoming year show the estimated unit sales of the planters each month to be as follows: (Click the icon to view additional information.) Inventory at the start of the year was 850 planters. The desired inventory of planters at the end of each month should be equal to 25% of the following month's budgeted sales. Each planter requires four pounds of polypropylene (a type of plastic). The company wants to have 20% of the polypropylene required for next month's production on hand at the end of each month. The polypropylene costs $0.10 per pound. Read the requirements. Data table For the Months of January through March January February March Quarter Number of planters to be sold Units to be produced 3,425 3,400 3,525 10,350 January. 3,400 4 Multiply by: Quantity of direct materials needed per unit Quantity needed for production February 3,500…Becker Bikes manufactures tricycles. The company expects to sell 360 units in May and 490 units in June. Beginning and ending finished goods for May are expected to be 100 and 65 units, respectively. June's ending finished goods are expected to be 75 units. Each unit requires 3 wheels at a cost of $6 per wheel. Becker requires 20 percent of next month's material production needs on hand each month. July's production units are expected to be 460 units. Compute Becker's direct materials purchases budget with respect to wheels for May and June. Budgeted cost of wheels purchased May JuneCrane, Inc. makes and sells a single product, buckets. It takes 20 ounces of plastic to make one bucket. Budgeted production of buckets for the next three months is as follows: August 85000 units, September 70000 units, October 60000 units. The company wants to maintain monthly ending inventories of plastic equal to 10% of the following month's production needs. On August 31, 190000 ounces of plastic were on hand. The cost of plastic is $0.02 per gram. How much is the ending inventory of plastic to be reported on the company’s balance sheet at September 30? $2400 $120000 $7000 $2800
- Pouch Corporation is working on its direct labor budget for the next two months. Each unit of output requires 0.90 direct labor-hours. The direct labor rate is $9.90 per direct labor-hour. The production budget calls for producing 2,600 units in June and 2,400 units in July. If the direct labor work force is fully adjusted to the total direct labor-hours needed each month, what would be the total combined direct labor cost for the two months? $44,550.00 $22,275.00 $21,384.00 $23,166.00Magnolia, Inc., manufactures bedding sets. The budgeted production is for 25,500 comforters this year. Each comforter requires 7 yards of material. The estimated January 1 beginning inventory is 5,380 yards with the desired ending balance of 5,000 yards of material. If the material costs $7.40 per yard, determine the materials budget for the year.Pooler Corporation is working on its direct labor budget for the next two months. Each unit of output requires 0.20 direct labor-hours. The direct labor rate is $7.00 per direct labor-hour. The production budget calls for producing 7,700 units in April and 7,500 units in May. If the direct labor work force is fully adjusted to the total direct labor-hours needed each month, what would be the total combined direct labor cost for the two months? Multiple Choice $21,770 $21,945 $21,280 $21,455
