Data table Target ending inventory in units Metal $ Fabric $ Direct manufacturing labor $ Machine setup overhead Metal Fabric Direct manufacturing labor Machine setup overhead Target ending inventory Product Knox 2,200 2 per pound (same as in 2019) 3 per yard (same as in 2019) 18 per hour 140 per hour Knox Ayer 1,200 Content of Each Product Unit 6 pounds 1.00 yard 0.10 hours 0.01 hours Ayer 7 pounds 3.00 yards 0.20 hours 0.015 hours Direct Materials Metal Fabric 8,000 pounds 1,000 yards

Data table Target ending inventory in units Metal $ Fabric $ Direct manufacturing labor $ Machine setup overhead Metal Fabric Direct manufacturing labor Machine setup overhead Target ending inventory Product Knox 2,200 2 per pound (same as in 2019) 3 per yard (same as in 2019) 18 per hour 140 per hour Knox Ayer 1,200 Content of Each Product Unit 6 pounds 1.00 yard 0.10 hours 0.01 hours Ayer 7 pounds 3.00 yards 0.20 hours 0.015 hours Direct Materials Metal Fabric 8,000 pounds 1,000 yards

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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Question

Firelight Corporation manufactures and sells two types of decorative lamps, Knox and Ayer. The following data are available for the year 2020.
(Click the icon to view the information.)
Calculate (a) the budgeted unit costs of ending finished-goods inventory on December 31, 2020 (label it Schedule 6A) and (b) the ending
inventories budget on December 31, 2020 (label it Schedule 6B).

Data table
Target ending inventory in units
Metal
$
Fabric
$
Direct manufacturing labor $
Machine setup overhead $
Metal
Fabric
Direct manufacturing labor
Machine setup overhead
Target ending inventory
Knox
2,200
Product
18 per hour
140 per hour
2 per pound (same as in 2019)
3
per yard (same as in 2019)
Knox
Content of Each Product Unit
Ayer
Ayer
1,200
6 pounds
1.00 yard
0.10 hours
0.01 hours
Metal
8,000 pounds
7 pounds
3.00 yards
0.20 hours
0.015 hours
Direct Materials
Fabric
1,000 yards
|
X

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