Direct Materials Purchases Budget 1. Lorenzo's Frozen Pizza Inc. has determined from its production budget the following estimated production volumes for 12" and 16" frozen pizzas for 2. September: 3. Units 12" Pizza 16" Pizza Budgeted production volume 13,600 26,700 5. Three direct materials are used in producing the two types of pizza. The quantities of direct materials expected to be used for each pizza are as follows: 12" Pizza 16" Pizza 6. Direct materials: Dough 0.80 lb. per unit 1.50 lb. per unit Tomato 0.50 0.70 8. Cheese 0.70 1.30 In addition, Lorenzo's has determined the following information about each material: Dough Tomato Cheese Estimated inventory, September 1 540 lb. 200 lb. 270 lb. Desired inventory, September 30 570 lb. 190 lb. 300 lb. Price per pound $1.40 $2.80 $3.30 Prepare September's direct materials purchases budget for Lorenzo's Frozen Pizza Inc. When required, enter unit prices to the nearest cent. Lorenzo's Frozen Piza Inc. Progress: 7/8 items Check My Work 3 more Check My Work uses remaining. Previous Next

Direct Materials Purchases Budget 1. Lorenzo's Frozen Pizza Inc. has determined from its production budget the following estimated production volumes for 12" and 16" frozen pizzas for 2. September: 3. Units 12" Pizza 16" Pizza Budgeted production volume 13,600 26,700 5. Three direct materials are used in producing the two types of pizza. The quantities of direct materials expected to be used for each pizza are as follows: 12" Pizza 16" Pizza 6. Direct materials: Dough 0.80 lb. per unit 1.50 lb. per unit Tomato 0.50 0.70 8. Cheese 0.70 1.30 In addition, Lorenzo's has determined the following information about each material: Dough Tomato Cheese Estimated inventory, September 1 540 lb. 200 lb. 270 lb. Desired inventory, September 30 570 lb. 190 lb. 300 lb. Price per pound $1.40 $2.80 $3.30 Prepare September's direct materials purchases budget for Lorenzo's Frozen Pizza Inc. When required, enter unit prices to the nearest cent. Lorenzo's Frozen Piza Inc. Progress: 7/8 items Check My Work 3 more Check My Work uses remaining. Previous Next

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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Direct Labor Cost Budget MatchPoint Racket Company manufactures two types of tennis rackets, the Junior and Pro Striker models. The production budget for March for the two rackets is as follows: Junior Pro Striker Production budget 7,200 units 19,900 units Both rackets are produced in two departments, Forming and Assembly. The direct labor hours required for each racket are estimated as follows: Forming Department Assembly Department Junior 0.2 hour per unit 0.4 hour per unit Pro Striker 0.3 hour per unit 0.6 hour per unit The direct labor rate for each department is as follows: Forming Department $17 per hour Assembly Department $12 per hour Prepare the direct labor cost budget for March.
Direct Labor Cost Budget MatchPoint Racket Company manufactures two types of tennis rackets, the Junior and Pro Striker models. The production budget for March for the two rackets is as follows: Junior Pro Striker Production budget 8,300 units 19,800 units Both rackets are produced in two departments, Forming and Assembly. The direct labor hours required for each racket are estimated as follows: Forming Department Assembly Department 0.25 hour per unit 0.4 hour per unit Junior Pro Striker 0.3 hour per unit 0.75 hour per unit The direct labor rate for each department is as follows: Forming Department $18 per hour Assembly Department $11 per hour Prepare the direct labor cost budget for March MatchPoint Racket Company Direct Labor Cost Budget For the Month Ending March 31
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Blue Pants & Co. manufactures slacks and jeans under a variety of brand names, such as Blue Easy and Tracy Jeans. Slacks and jeans are assembled by a variety of different sewing operations. Assume that the sales budget for Blue Easy and Tracy Jeans shows estimated sales of 33,960 and 65,540 pairs, respectively, for May. The finished goods inventory is assumed as follows: Blue Easy Tracy Jeans May 1 estimated inventory 1,520 1,850 May 31 desired inventory 560 2,310 Assume the following direct labor data per 10 pairs of Blue Easy and Tracy Jeans for four different sewing operations: Direct Labor per 10 Pairs Blue Easy Tracy Jeans Inseam 20 minutes 14 minutes Outerseam 24 17 Pockets 8 10 Zipper 11 Total 63 minutes 48 minutes a. Prepare a production budget for May. BLUE PANTS & CO. Production Budget May (Assumed Data) Blue Easy (Units) Tracy Jeans (Units) Expected units to be sold Plus May 31 desired inventory Total units Less May 1 estimated inventory Total units to be produced
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Direct Labor Cost Budget Ace Racket Company manufactures two types of tennis rackets, the Junior and Pro Striker models. The production budget for July for the two rackets is as follows: Junior Pro Striker Production budget 8,900 units 21,000 units Both rackets are produced in two departments, Forming and Assembly. The direct labor hours required for each racket are estimated as follows: Forming Department Assembly Department Junior 0.25 hour per unit 0.40 hour per unit Pro Striker 0.35 hour per unit 0.70 hour per unit The direct labor rate for each department is as follows: Forming Department $18.00 per hour Assembly Department $11.00 per hour Prepare the direct labor cost budget for July. Ace Racket Company Direct Labor Cost Budget For the Month Ending July 31 Forming Department Assembly Department Hours required for production: Junior fill in the blank 1 fill in the blank 2 Pro Striker fill in the blank 3 fill in the blank 4…
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Subject: acounting
1. Schuh Corporation manufactures product AB1 which requires a raw material called X2. In order to make one unit of AB1, 2.5 kgs of raw materials are used. Budgeted production of AB1 for the first 5 months are as follows : January. . 28,000 units February . .27,500 units March. 28,000 units April.. .29,500 units May.. ..27,000 units The company wants to maintain an ending inventory equal to 30% of the following months raw material needs for production. Raw material costs $10 per unit. Schuh Corporation now wants to make a Direct Material Budget. What should be the dollar value of the ending inventory for the month of February, on the direct material budget?