Please help me with this assignment question.. BUDGETINGA BUSINESS SCENARIO - STEP 4COST OF GOODS SOLD BUDGET - Direct MaterialsCost of goods sold are dependent upon the level of sales. The more products Budg workshop makes, the more wood will beused, the more other direct materials will be consumed and the more direct labour will be needed.The principal objective of the cost of goods sold is to manage the inventory of production costs in relation to the sales of goods.Budg would have to calculate the cost of goods sold by multiplying every directmaterials and direct labour by the number of units of sales.Direct materials: WoodDining ChairsCoffee TablesKitchen CabinetsTotal Direct Materials (Wood) MonthlyBUDGETINGA BUSINESS SCENARIO - STEP 4January February2,7001,2603,2407,200Direct materials: XXXXDining ChairsCoffee TablesKitchen CabinetsTotal Direct Costs MonthlyDirect materials: XXXXDining ChairsCoffee TablesKitchen CabinetsTotal Direct Costs MonthlyMarch3,6006,3003,1503,7803,780 4,32010,530 14,400January February MarchTOTALJanuary February March12,6008,19011,34032,130TOTALDining choirsCoffee tablesKitchen cabinetsTOTALSelling priceMaterials woodMaterials: otherDirect labeurContributionJanuary February March TOTAL150200 3507001002503506501050300COST OF GOODS SOLD BUDGET - Direct MaterialsBased on your learning in the Direct materials (wood) example, you are required to complete the table below for Budg's otherdirect costs.Diningchairs (5)85.00(18.00)(2.00)(25.00)40.00Coffeetables ($)50.00(1260)(5.40)(18.00)14.00300400Kitchencabinets (5)80.00[10.80(9.201130.0030.00Budgeting StepsFrom these budgeted units of sales,can you produce the total cost ofgoods sold budget?Budgeting Steps

Cost of Goods sold is directly dependent on the level of sales. As the sales level increases, cost…

COST OF GOODS SOLD BUDGET - Direct Materials Cost of goods sold are dependent upon the level of sales. The more products Budg workshop makes, the more wood will be used, the more other direct materials will be consumed and the more direct labour will be needed. The principal objective of the cost of goods sold is to manage the inventory of production costs in relation to the sales of goods. Budg would have to calculate the cost of goods sold by multiplying every direct materials and direct labour by the number of units of sales. Direct materials: Wood Dining Chairs Coffee Tables Kitchen Cabinets Total Direct Materials (Wood) Monthly January February 2,700 1,260 3,240 7,200 March 3,600 6,300 3,150 3,780 3,780 4,320 10,530 14,400 TOTAL 12,600 8,190 11,340 32,130 Dining choirs Coffee tables Kitchen cabinet Selling price Materials wood Materiale ather Direct labeur Contribution January February March TOTAL 150 200 350 700 300 100 300 250 350 650 1050 400 Dining chairs (5) 85.00 (18.00) (2.001 (25.00) 40.00 Coffee tables (5) 50.00 (1240) (5.40) (18.00) 14.00 Kitchen cabinets (1) 80.00 [10.80 (9.201 30.00 30.00

COST OF GOODS SOLD BUDGET - Direct Materials Cost of goods sold are dependent upon the level of sales. The more products Budg workshop makes, the more wood will be used, the more other direct materials will be consumed and the more direct labour will be needed. The principal objective of the cost of goods sold is to manage the inventory of production costs in relation to the sales of goods. Budg would have to calculate the cost of goods sold by multiplying every direct materials and direct labour by the number of units of sales. Direct materials: Wood Dining Chairs Coffee Tables Kitchen Cabinets Total Direct Materials (Wood) Monthly January February 2,700 1,260 3,240 7,200 March 3,600 6,300 3,150 3,780 3,780 4,320 10,530 14,400 TOTAL 12,600 8,190 11,340 32,130 Dining choirs Coffee tables Kitchen cabinet Selling price Materials wood Materiale ather Direct labeur Contribution January February March TOTAL 150 200 350 700 300 100 300 250 350 650 1050 400 Dining chairs (5) 85.00 (18.00) (2.001 (25.00) 40.00 Coffee tables (5) 50.00 (1240) (5.40) (18.00) 14.00 Kitchen cabinets (1) 80.00 [10.80 (9.201 30.00 30.00

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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