Coronado Company's sales budget projects unit sales of part 1987 of 11,800 units in January, 13,400 units in February, and 16,100 units in March. Each unit of part 198Z requires 4 pounds of materials, which cost $2 per pound. Coronado Company desires its ending raw materials inventory to equal 40% of the next month's production requirements, and its ending finished goods inventory to equal 20% of the next month's expected unit sales. These goals were met at December 31, 2021. (a) Your answer is partially correct. Prepare a production budget for January and February 2022. Total Materials Required Add Total Materials Required Less : Desired Ending Finished Goods Inventory Beginning Direct Materials CORONADO COMPANY Production Budget For the Quarter Ending February 28, 2022 Direct Material Pounds Per Unit V January 48480 22304 2007 70784 19392 51392 February

Coronado Company's sales budget projects unit sales of part 1987 of 11,800 units in January, 13,400 units in February, and 16,100 units in March. Each unit of part 198Z requires 4 pounds of materials, which cost $2 per pound. Coronado Company desires its ending raw materials inventory to equal 40% of the next month's production requirements, and its ending finished goods inventory to equal 20% of the next month's expected unit sales. These goals were met at December 31, 2021. (a) Your answer is partially correct. Prepare a production budget for January and February 2022. Total Materials Required Add Total Materials Required Less : Desired Ending Finished Goods Inventory Beginning Direct Materials CORONADO COMPANY Production Budget For the Quarter Ending February 28, 2022 Direct Material Pounds Per Unit V January 48480 22304 2007 70784 19392 51392 February

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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Depasquale 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 $8.60 per direct labor-hour. The production budget calls for producing 6,600 units in May and 7,000 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? (Round your intermediate calculations to 2 decimal places.) Multiple Choice $30,702.00 $29,824.80 $59,649.60 $28,947.60
Pooler Corporation is working on its direct labor budget for the next two months. Each unit of output requires 0.75 direct labor-hours. The direct labor rate is $11.80 per direct labor-hour. The production budget calls for producing 6,700 units in April and 6,500 units in May. The company guarantees its direct labor workers a 40-hour paid work week. With the number of workers currently employed, that means that the company is committed to paying its direct labor work force for at least 5,480 hours in total each month even if there is not enough work to keep them busy. What would be the total combined direct labor cost for the two months? Multiple Choice $122,189.00 $116,820.00 $129,328.00 $134,225.00
Sthilaire Corporation is working on its direct labor budget for the next two months. Each unit of output requires 0.48 direct labor-hours. The direct labor rate is $9.00 per direct labor-hour. The production budget calls for producing 1,800 units in April and 1,700 units in May. The company guarantees its direct labor workers a 40-hour paid work week. With the number of workers currently employed, that means that the company is committed to paying its direct labor work force for at least 960 hours in total each month even if there is not enough work to keep them busy. Required: Prepare the direct labor budget for the next two months. (Round "labor-hours per unit" & "labor cost per hour" answers to 2 decimal places.)
Whitmer Corporation is working on its direct labor budget for the next two months. Each unit of output requires 0.04 direct labor-hours. The direct labor rate is $9.10 per direct labor-hour. The production budget calls for producing 4,500 units In February and 5,000 units In March. Required: Prepare the direct labor budget for February and March, assuming that the direct labor work force is fully adjusted to the total direct labor-hours needed each month. (Round "labor-hours per unit" & "labor cost per hour" answers to 2 decimal places.) 12 Required production in units Direct labor-hours per unit Total direct labor-hours needed Direct labor cost per hour Total direct labor cost February March
Coronado Company's sales budget projects unit sales of part 1987 of 11,800 units in January, 13,400 units in February, and 16,100 units in March. Each unit of part 198Z requires 4 pounds of materials, which cost $2 per pound. Coronado Company desires its ending raw materials inventory to equal 40% of the next month's production requirements, and its ending finished goods inventory to equal 20% of the next month's expected unit sales. These goals were met at December 31, 2021. (a) Your answer is partially correct. Prepare a production budget for January and February 2022. Total Materials Required Add V: Desired Ending Finished Goods Inventory Total Materials Required Less V: Beginning Direct Materials CORONADO COMPANY Production Budget For the Quarter Ending February 28, 2022 Direct Material Pounds Per Unit January 48480 22304 70784 19392 51392 February 000
Pooler Corporation is working on its direct labor budget for the next two months. Each unit of output requires 0.74 direct labor-hours. The direct labor rate is $11.70 per direct labor-hour. The production budget calls for producing 6,600 units in April and 6,400 units in May. The company guarantees its direct labor workers a 40-hour paid work week. With the number of workers currently employed, that means that the company is committed to paying its direct labor work force for at least 5,480 hours in total each month even if there is not enough work to keep them busy. What would be the total combined direct labor cost for the two months? Multiple Choice $119,52720 $112.554.00 $130.291.201 $128.232.00
Electro Company budgets production of 700,000 electric panels in the second quarter and 770,000 electric panels in the third quarter. Each panel requires 0.80 pound of direct material at a cost of $2.30 per pound. The company desires to end each quarter with an ending inventory of this material equal to 20% of next quarter's budgeted materials requirements. Beginning inventory of this material is 112,000 pounds. Prepare a direct materials budget for the second quarter.
Zhang Industries budgets production of 350 units in June and 360 units in July. Each finished unit requires 4 pounds of raw material K, which costs $5 per pound. Each month's ending inventory of raw materials should be 40% of the following month's budgeted production. The June 1 raw materials inventory has 560 pounds of raw material K. Compute the budgeted cost of purchases for raw material K for June. Multiple Choice $4,400. $7,000. $7,200. $7,080. $7,100.
Davol Corporation is preparing its Manufacturing Overhead Budget for the fourth quarter of the year. The budgeted variable manufacturing overhead rate is $6.80 per direct labor-hour; the budgeted fixed manufacturing overhead is $72,000 per month, of which $20,000 is factory depreciation. If the budgeted direct labor time for October is 5,000 hours, then the total budgeted manufacturing overhead for October is:
Dupont Corporation is working on its direct labor budget for the next two months. Each unit of output requires 0.41 direct labor-hours. The direct labor rate is $8.10 per direct labor-hour. The production budget calls for producing 5,000 units in May and 5,400 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? O $16,605.00 O $17,933.40 O $17,269.20 O $34,538.40
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 6,900 units in April and 6,700 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 O $19,530 $19,705 $19,040 $19,215
The production budget for Juno & Jones, Inc. shows the company expects to produce 450 units in the first quarter and 670 units in the second quarter. Each unit will require 11 pounds of direct materials at a cost of $2.00 per pound. The company prefers to maintain raw materials inventory equal to 40% of the next quarters materials needs. Prepare a production budget for the first quarter. Juno & Jones, Inc. Direct Materials Budget First Quarter Budgeted units to be produced Pounds of materials required per unit Total pounds of materials needed in production Plus desired ending inventory in pounds Total direct materials needed Less pounds of materials in beginning inventory Total Pounds of Direct Materials to be purchased Cost of materials per pound Total cost of materials to be purchased Direct Materials cost per unit