Homework Help is Here – Start Your Trial Now!
Business
Accounting
Creasy's Product Cost is $25 per unit, incluing per unit cost of $12.60 for materials (3lbs at $4.20 per lb) $10 for direct labor, (0.5 hours at $20 direct labor rate per hour) $1.80 for variable overhead $0.60 for foxed overhead Company policy calls for a given month's ending raw materials ending inventory to equal 60% of the next month's expected materials needed for production June 30 raw materials inventory is 44,100 pounds of materials, which complies with the policy. The company expects to have 46.350 pounds of materials inventory on September 30. Prepare Creasy's Direct Materials Budget. Do not use the dollar sign in your answers. Use whole numbers only. Direct Materials Budget Budgeted Production Units x materials required for each unit in pounds) Total budgeted material required +Budgeted materials ending inventory -Materials beginning inventory Total materials to be purchases (in pounds) Cost per pound Total materials to be purchased (in dollard July 3 44,100 4.20 Direct Materials Budget August 26,500 3 79,500 4.20 315,000 September 46.350 75,150 4.20

Creasy's Product Cost is $25 per unit, incluing per unit cost of $12.60 for materials (3lbs at $4.20 per lb) $10 for direct labor, (0.5 hours at $20 direct labor rate per hour) $1.80 for variable overhead $0.60 for foxed overhead Company policy calls for a given month's ending raw materials ending inventory to equal 60% of the next month's expected materials needed for production June 30 raw materials inventory is 44,100 pounds of materials, which complies with the policy. The company expects to have 46.350 pounds of materials inventory on September 30. Prepare Creasy's Direct Materials Budget. Do not use the dollar sign in your answers. Use whole numbers only. Direct Materials Budget Budgeted Production Units x materials required for each unit in pounds) Total budgeted material required +Budgeted materials ending inventory -Materials beginning inventory Total materials to be purchases (in pounds) Cost per pound Total materials to be purchased (in dollard July 3 44,100 4.20 Direct Materials Budget August 26,500 3 79,500 4.20 315,000 September 46.350 75,150 4.20

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

please avoid handwritten solution thanku

Creasy's Product Cost is $25 per unit, incluing per unit cost of $12.60 for materials (3lbs at $4.20 per lb) $10 for direct labor, (0.5 hours at $20 direct labor rate per hour) $1.80 for variable overhead $0.60 for foxed overhead Company policy calls for a given month's ending raw materials ending inventory to equal 60% of the next month's expected materials needed for production June 30 raw materials inventory is 44,100 pounds of materials, which complies with the policy. The company expects to have 46.350 pounds of materials inventory on September 30. Prepare Creasy's Direct Materials Budget. Do not use the dollar sign in your answers. Use whole numbers only. Direct Materials Budget Budgeted Production Units x materials required for each unit in pounds) Total budgeted material required +Budgeted materials ending inventory Materials beginning inventory Total materials to be purchases in pounds) Cost per pound Total materials to be purchased (in dollars) July 3 44,100 4.20 Direct Materials Budget August 26,500 3 79,500 4.20 315,000 September 46.350 75,150 4.20
Transcribed Image Text:Creasy's Product Cost is $25 per unit, incluing per unit cost of $12.60 for materials (3lbs at $4.20 per lb) $10 for direct labor, (0.5 hours at $20 direct labor rate per hour) $1.80 for variable overhead $0.60 for foxed overhead Company policy calls for a given month's ending raw materials ending inventory to equal 60% of the next month's expected materials needed for production June 30 raw materials inventory is 44,100 pounds of materials, which complies with the policy. The company expects to have 46.350 pounds of materials inventory on September 30. Prepare Creasy's Direct Materials Budget. Do not use the dollar sign in your answers. Use whole numbers only. Direct Materials Budget Budgeted Production Units x materials required for each unit in pounds) Total budgeted material required +Budgeted materials ending inventory Materials beginning inventory Total materials to be purchases in pounds) Cost per pound Total materials to be purchased (in dollars) July 3 44,100 4.20 Direct Materials Budget August 26,500 3 79,500 4.20 315,000 September 46.350 75,150 4.20
Expert Solution
steps

Step by step

Solved in 4 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Inventory Management
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS