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Garden Yeti manufactures garden sculptures. Each sculpture requires 8 pounds of direct materials at a cost of $4 per pound and 0.4 direct labor hour at a rate of $15 per hour. Variable overhead is budgeted at a rate of $3 per direct labor hour. Budgeted fixed overhead is $3,400 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 10,240 pounds of direct materials in inventory. The company's production budget reports the following. Production Budget Units to produce March April May 3,200 4,500 4,700 (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.

Garden Yeti manufactures garden sculptures. Each sculpture requires 8 pounds of direct materials at a cost of $4 per pound and 0.4 direct labor hour at a rate of $15 per hour. Variable overhead is budgeted at a rate of $3 per direct labor hour. Budgeted fixed overhead is $3,400 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 10,240 pounds of direct materials in inventory. The company's production budget reports the following. Production Budget Units to produce March April May 3,200 4,500 4,700 (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.

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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Garden Yeti manutactures garden sculptures. Each sculpture requires 8 pounds of direct materials at a cost of $4 per pound and 0.4 direct labor hour at a rate of $15 per hour. Variable overhead is budgeted at a rate of $3 per direct labor hour. Budgeted fixed overhead is $3,400 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 10,240 pounds of direct materials in inventory. The company's production budget reports the following. Production Budget Units to produce March April 3,200 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. Required 1 Required 2 Complete this question by entering your answers in the tabs below. Units to produce Prepare direct materials budgets for March and April. Required 3 GARDEN YETI Direct Materials Budget Materials needed for production (pounds) Total materials required (pounds) May 4,700 Materials to purchase (pounds) Cost of direct materials purchases March $ 0 0 April 0 $ 0 0 0 Ch
Transcribed Image Text:Garden Yeti manutactures garden sculptures. Each sculpture requires 8 pounds of direct materials at a cost of $4 per pound and 0.4 direct labor hour at a rate of $15 per hour. Variable overhead is budgeted at a rate of $3 per direct labor hour. Budgeted fixed overhead is $3,400 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 10,240 pounds of direct materials in inventory. The company's production budget reports the following. Production Budget Units to produce March April 3,200 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. Required 1 Required 2 Complete this question by entering your answers in the tabs below. Units to produce Prepare direct materials budgets for March and April. Required 3 GARDEN YETI Direct Materials Budget Materials needed for production (pounds) Total materials required (pounds) May 4,700 Materials to purchase (pounds) Cost of direct materials purchases March $ 0 0 April 0 $ 0 0 0 Ch
omework Production Budget Units to produce Garden Yeti manufactures garden sculptures. Each sculpture requires & pounds of direct materials at a cost of $4 per pound and U.4 direct labor hour at a rate of $15 per hour. Variable overhead is budgeted at a rate of $3 per direct labor hour. Budgeted fixed overhead is $3,400 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 10,240 pounds of direct materials in inventory. The company's production budget reports the following. (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. Required 1 Complete this question by entering your answers in the tabs below. Units to produce March April May 3,200 4,500 4,700 Required 2 Required 3. Prepare direct labor budgets for March and April. (Round "DL hours required per unit" answers to two decimal places.) Direct labor hours needed Cost of direct labor Homework i GARDEN YETI Direct Labor Budget Production Budget Units to produce March $ 0 0 Direct labor hours needed. Budgeted variable overhead April $ Required 1 Required 2 Required 3 Budgeted total factory overhead < Required 1 (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. Garden Yeti manufactures garden sculptures. Each sculpture requires & pounds of direct materials at a cost of $4 per pound and U.4 direct labor hour at a rate of $15 per hour. Variable overhead is budgeted at a rate of $3 per direct labor hour. Budgeted fixed overhead is $3,400 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 10,240 pounds of direct materials in inventory. The company's production budget reports the following. March April May 3,200 4,500 4,700 0 GARDEN YETI Factory Overhead Budget 0 Prepare factory overhead budgets for March and April. Complete this question by entering your answers in the tabs below. $ March $ Saved April 0 $ Required 3> 0 $ 0 Saved 0 Help Help Save
Transcribed Image Text:omework Production Budget Units to produce Garden Yeti manufactures garden sculptures. Each sculpture requires & pounds of direct materials at a cost of $4 per pound and U.4 direct labor hour at a rate of $15 per hour. Variable overhead is budgeted at a rate of $3 per direct labor hour. Budgeted fixed overhead is $3,400 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 10,240 pounds of direct materials in inventory. The company's production budget reports the following. (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. Required 1 Complete this question by entering your answers in the tabs below. Units to produce March April May 3,200 4,500 4,700 Required 2 Required 3. Prepare direct labor budgets for March and April. (Round "DL hours required per unit" answers to two decimal places.) Direct labor hours needed Cost of direct labor Homework i GARDEN YETI Direct Labor Budget Production Budget Units to produce March $ 0 0 Direct labor hours needed. Budgeted variable overhead April $ Required 1 Required 2 Required 3 Budgeted total factory overhead < Required 1 (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. Garden Yeti manufactures garden sculptures. Each sculpture requires & pounds of direct materials at a cost of $4 per pound and U.4 direct labor hour at a rate of $15 per hour. Variable overhead is budgeted at a rate of $3 per direct labor hour. Budgeted fixed overhead is $3,400 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 10,240 pounds of direct materials in inventory. The company's production budget reports the following. March April May 3,200 4,500 4,700 0 GARDEN YETI Factory Overhead Budget 0 Prepare factory overhead budgets for March and April. Complete this question by entering your answers in the tabs below. $ March $ Saved April 0 $ Required 3> 0 $ 0 Saved 0 Help Help Save
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