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EX 22-9 Direct materials purchases budget Lorenzo's Frozen Pizza Inc. has determined from its production budget the following estimated production volumes for 12" and 16" frozen pizzas for September: OBJ. 4 Units 12" Pizza 16" Pizza Budgeted production volume 12,500 21,800 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 Direct materials: Dough 0.80 lb. per unit 1.50 lb. per unit Tomato 0.50 0.70 Cheese 0.70 1.30 In addition, Lorenzo's has determined the following information about each material: Dough Tomato Cheese 490 lb. 230 lb. 275 lb. Estimated inventory, September 1 Desired inventory, September 30 Price per pound 580 lb. 185 lb. 340 lb. $0.50 $2.20 $2.60 Prepare September's direct materials purchases budget for Lorenzo's Frozen Pizza Inc. EX 22-12 Direct labor cost budget OBJ. 4 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 2,200 units 7,000 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 0.10 hour per unit 0.20 hour per unit Pro Striker 0.15 hour per unit 0.25 hour per unit The direct labor rate for each department is as follows: Forming Department $15.00 per hour Assembly Department $14.00 per hour Prepare the direct labor cost budget for March. mtoib cdm

EX 22-9 Direct materials purchases budget Lorenzo's Frozen Pizza Inc. has determined from its production budget the following estimated production volumes for 12" and 16" frozen pizzas for September: OBJ. 4 Units 12" Pizza 16" Pizza Budgeted production volume 12,500 21,800 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 Direct materials: Dough 0.80 lb. per unit 1.50 lb. per unit Tomato 0.50 0.70 Cheese 0.70 1.30 In addition, Lorenzo's has determined the following information about each material: Dough Tomato Cheese 490 lb. 230 lb. 275 lb. Estimated inventory, September 1 Desired inventory, September 30 Price per pound 580 lb. 185 lb. 340 lb. $0.50 $2.20 $2.60 Prepare September's direct materials purchases budget for Lorenzo's Frozen Pizza Inc. EX 22-12 Direct labor cost budget OBJ. 4 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 2,200 units 7,000 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 0.10 hour per unit 0.20 hour per unit Pro Striker 0.15 hour per unit 0.25 hour per unit The direct labor rate for each department is as follows: Forming Department $15.00 per hour Assembly Department $14.00 per hour Prepare the direct labor cost budget for March. mtoib cdm

FINANCIAL ACCOUNTING
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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EX 22-9 Direct materials purchases budget Lorenzo's Frozen Pizza Inc. has determined from its production budget the following estimated production volumes for 12" and 16" frozen pizzas for September: OBJ. 4 Units 12" Pizza 16" Pizza Budgeted production volume 12,500 21,800 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 Direct materials: Dough 0.80 lb. per unit 1.50 lb. per unit Tomato 0.50 0.70 Cheese 0.70 1.30 In addition, Lorenzo's has determined the following information about each material: Dough Tomato Cheese 490 lb. 230 lb. 275 lb. Estimated inventory, September 1 Desired inventory, September 30 Price per pound 580 lb. 185 lb. 340 lb. $0.50 $2.20 $2.60 Prepare September's direct materials purchases budget for Lorenzo's Frozen Pizza Inc.
Transcribed Image Text:EX 22-9 Direct materials purchases budget Lorenzo's Frozen Pizza Inc. has determined from its production budget the following estimated production volumes for 12" and 16" frozen pizzas for September: OBJ. 4 Units 12" Pizza 16" Pizza Budgeted production volume 12,500 21,800 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 Direct materials: Dough 0.80 lb. per unit 1.50 lb. per unit Tomato 0.50 0.70 Cheese 0.70 1.30 In addition, Lorenzo's has determined the following information about each material: Dough Tomato Cheese 490 lb. 230 lb. 275 lb. Estimated inventory, September 1 Desired inventory, September 30 Price per pound 580 lb. 185 lb. 340 lb. $0.50 $2.20 $2.60 Prepare September's direct materials purchases budget for Lorenzo's Frozen Pizza Inc.
EX 22-12 Direct labor cost budget OBJ. 4 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 2,200 units 7,000 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 0.10 hour per unit 0.20 hour per unit Pro Striker 0.15 hour per unit 0.25 hour per unit The direct labor rate for each department is as follows: Forming Department $15.00 per hour Assembly Department $14.00 per hour Prepare the direct labor cost budget for March. mtoib cdm
Transcribed Image Text:EX 22-12 Direct labor cost budget OBJ. 4 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 2,200 units 7,000 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 0.10 hour per unit 0.20 hour per unit Pro Striker 0.15 hour per unit 0.25 hour per unit The direct labor rate for each department is as follows: Forming Department $15.00 per hour Assembly Department $14.00 per hour Prepare the direct labor cost budget for March. mtoib cdm
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