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Garden Yeti manufactures garden sculptures. Each sculpture requires 8 pounds of direct materials at a cost of $3 per pound and 0.4 direct labor hour at a rate of $16 per hour. Variable overhead is budgeted at a rate of $4 per direct labor hour. Budgeted fixed overhead is $4,700 per month. The company's policy is to maintain direct materials inventory equal to 40% of the next month's direct materials requirement. At the end of February the company had 9,920 pounds of direct materials in Inventory. The company's production budget reports the following. Production Budget Units to produce March 3,100 April 4,400 May 4,600 (1) Prepare direct materials budgets for March and April (2) Prepare direct labor budgets for March and April. (3) Prepare factory overhead budgets for March and April. Complete this question by entering your answers in the tabs below.

Garden Yeti manufactures garden sculptures. Each sculpture requires 8 pounds of direct materials at a cost of $3 per pound and 0.4 direct labor hour at a rate of $16 per hour. Variable overhead is budgeted at a rate of $4 per direct labor hour. Budgeted fixed overhead is $4,700 per month. The company's policy is to maintain direct materials inventory equal to 40% of the next month's direct materials requirement. At the end of February the company had 9,920 pounds of direct materials in Inventory. The company's production budget reports the following. Production Budget Units to produce March 3,100 April 4,400 May 4,600 (1) Prepare direct materials budgets for March and April (2) Prepare direct labor budgets for March and April. (3) Prepare factory overhead budgets for March and April. Complete this question by entering your answers in the tabs below.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Garden Yeti manufactures garden sculptures. Each sculpture requires 8 pounds of direct materials at a cost of $3 per pound and 0.4 direct labor hour at a rate of $16 per hour. Variable overhead is budgeted at a rate of $4 per direct labor hour. Budgeted fixed overhead is $4,700 per month. The company's policy is to maintain direct materials inventory equal to 40% of the next month's direct materials requirement. At the end of February the company had 9,920 pounds of direct materials in Inventory. The company's production budget reports the following. Production Budget Units to produce March 3,100 April 4,400 May 4,500 (1) Prepare direct materials budgets for March and April (2) Prepare direct labor budgets for March and April. (3) Prepare factory overhead budgets for March and April. Complete this question by entering your answers in the tabs below. Required 3 Required 1 Required 2 Prepare direct materials budgets for March and April. GARDEN YETI Direct Materials Budget March < Prev April 3 of 6 Next >
Transcribed Image Text:Garden Yeti manufactures garden sculptures. Each sculpture requires 8 pounds of direct materials at a cost of $3 per pound and 0.4 direct labor hour at a rate of $16 per hour. Variable overhead is budgeted at a rate of $4 per direct labor hour. Budgeted fixed overhead is $4,700 per month. The company's policy is to maintain direct materials inventory equal to 40% of the next month's direct materials requirement. At the end of February the company had 9,920 pounds of direct materials in Inventory. The company's production budget reports the following. Production Budget Units to produce March 3,100 April 4,400 May 4,500 (1) Prepare direct materials budgets for March and April (2) Prepare direct labor budgets for March and April. (3) Prepare factory overhead budgets for March and April. Complete this question by entering your answers in the tabs below. Required 3 Required 1 Required 2 Prepare direct materials budgets for March and April. GARDEN YETI Direct Materials Budget March < Prev April 3 of 6 Next >
Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare direct materials budgets for March and April. GARDEN YETI Direct Materials Budget Units to produce Materials needed for production (pounds) Total materials required (pounds) Materials to purchase (pounds) Cost of direct materials purchases Show Transcribed Text Units to produce Direct labor hours needed Cost of direct labor Required 3 Show Transcribed Text Required 1 Required 2 Direct labor hours needed Budgeted variable overhead March $ Budgeted total factory overhead Complete this question by entering your answers in the tabs below. 0 Required 1 Required 2 Required 3 Prepare direct labor budgets for March and April. (Round "DL hours required per unit" answers to tw GARDEN YETI Direct Labor Budget Requited 1 Ĉ 0$ April Regedred 3 March $ < Required 1 Prepare factory overhead budgets for March and April. GARDEN YETI Factory Overhead Budget 0 $ 0 $ March 0 0 Complete this question by entering your answers in the tabs below. 0 $ April < Required 2 0 $ April 0 $ 0 0 0 0 Required 2 > 0 Required 3 > Required 3>
Transcribed Image Text:Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare direct materials budgets for March and April. GARDEN YETI Direct Materials Budget Units to produce Materials needed for production (pounds) Total materials required (pounds) Materials to purchase (pounds) Cost of direct materials purchases Show Transcribed Text Units to produce Direct labor hours needed Cost of direct labor Required 3 Show Transcribed Text Required 1 Required 2 Direct labor hours needed Budgeted variable overhead March $ Budgeted total factory overhead Complete this question by entering your answers in the tabs below. 0 Required 1 Required 2 Required 3 Prepare direct labor budgets for March and April. (Round "DL hours required per unit" answers to tw GARDEN YETI Direct Labor Budget Requited 1 Ĉ 0$ April Regedred 3 March $ < Required 1 Prepare factory overhead budgets for March and April. GARDEN YETI Factory Overhead Budget 0 $ 0 $ March 0 0 Complete this question by entering your answers in the tabs below. 0 $ April < Required 2 0 $ April 0 $ 0 0 0 0 Required 2 > 0 Required 3 > Required 3>
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