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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 $11 per hour. Variable overhead is budgeted at a rate of $2 per direct labor hour. Budgeted fixed overhead is $3,100 per month. The company's policy is to maintain direct materials inventory equal to 30% of the next month's direct materials requirement. At the end of February the company had 7,680 pounds of direct materials in inventory. The company's production budget reports the following Production Budget Units to produce March 3,200 April 4,500 May 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 $3 per pound and 0.4 direct labor hour at a rate of $11 per hour. Variable overhead is budgeted at a rate of $2 per direct labor hour. Budgeted fixed overhead is $3,100 per month. The company's policy is to maintain direct materials inventory equal to 30% of the next month's direct materials requirement. At the end of February the company had 7,680 pounds of direct materials in inventory. The company's production budget reports the following Production Budget Units to produce March 3,200 April 4,500 May 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
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6 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 $11 per hour. Variable overhead is budgeted at a rate of $2 per direct labor hour. Budgeted fixed overhead is $3,100 per month. The company's policy is to maintain direct materials inventory equal to 30% of the next month's direct materials requirement. At the end of February the company had 7,680 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 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare direct materials budgets for March and April. GARDEN YETI Direct Materials Budget Units to produce Materials required per unit (pounds) Materials needed for production (pounds) Add Desired ending materials inventory Total materials required (pounds) March 3.200 B 25,000 25,000 April 4,500 36.000 36,000
Transcribed Image Text:6 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 $11 per hour. Variable overhead is budgeted at a rate of $2 per direct labor hour. Budgeted fixed overhead is $3,100 per month. The company's policy is to maintain direct materials inventory equal to 30% of the next month's direct materials requirement. At the end of February the company had 7,680 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 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare direct materials budgets for March and April. GARDEN YETI Direct Materials Budget Units to produce Materials required per unit (pounds) Materials needed for production (pounds) Add Desired ending materials inventory Total materials required (pounds) March 3.200 B 25,000 25,000 April 4,500 36.000 36,000
ar Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare direct materials budgets for March and April. GARDEN YETI Direct Materials Budget Units to produce Materials required per unit (pounds) Materials needed for production (pounds) Add Desired ending materials inventory Total materials required (pounds) Materials to purchase (pounds) Cost of direct materials purchases Required 1 Required 2 Units to produce Direct labor hours needed Cost of direct labor (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 3 Required 2 Required 3. Direct labor hours needed. March Budgeted variable overhead Complete this question by entering your answers in the tabs below. $ Budgeted total factory overhead 0 Prepare direct labor budgets for March and April. (Round "DL hours required per unit" answers to two decimal places.) GARDEN YETI Direct Labor Budget 0$ Required 1 March $ Prepare factory overhead budgets for March and April. GARDEN YETI Factory Overhead Budget 3,200 8 25,600 April (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. 25,600 March $ 25,600 $ < Required 1 0 < Required 2 0 Complete this question by entering your answers in the tabs below. 0 $ April 0$ April 0$ 4,500 8 36,000 36,000 0 36,000 0 0 Required 2 > Required 3 > Required 3 >
Transcribed Image Text:ar Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare direct materials budgets for March and April. GARDEN YETI Direct Materials Budget Units to produce Materials required per unit (pounds) Materials needed for production (pounds) Add Desired ending materials inventory Total materials required (pounds) Materials to purchase (pounds) Cost of direct materials purchases Required 1 Required 2 Units to produce Direct labor hours needed Cost of direct labor (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 3 Required 2 Required 3. Direct labor hours needed. March Budgeted variable overhead Complete this question by entering your answers in the tabs below. $ Budgeted total factory overhead 0 Prepare direct labor budgets for March and April. (Round "DL hours required per unit" answers to two decimal places.) GARDEN YETI Direct Labor Budget 0$ Required 1 March $ Prepare factory overhead budgets for March and April. GARDEN YETI Factory Overhead Budget 3,200 8 25,600 April (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. 25,600 March $ 25,600 $ < Required 1 0 < Required 2 0 Complete this question by entering your answers in the tabs below. 0 $ April 0$ April 0$ 4,500 8 36,000 36,000 0 36,000 0 0 Required 2 > Required 3 > Required 3 >
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