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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 0.5 direct labor hour at a rate of $18 per hour. Variable overhead is budgeted at a rate of $3 per direct labor hour. Budgeted fixed overhead is $4,000 per month. The company's policy is to maintain direct materials Inventory equal to 20% of the next month's direct materials requirement. At the end of February the company had 5.280 pounds of direct materials in inventory. The company's production budget reports the following Production Budget Units to produce March April May 3,300 4,600 4,800 (1) Prepare direct materials budgets for March and April (2) Prepare direct labor budgets for March and April (3) Prepare factory overhead budgets for Morch and Apri Complete this question by entering your answers in the tabs belov.

Garden Yeti manufactures garden sculptures. Each sculpture requires 8 pounds of direct materials at a cost of $3 per pound and 0.5 direct labor hour at a rate of $18 per hour. Variable overhead is budgeted at a rate of $3 per direct labor hour. Budgeted fixed overhead is $4,000 per month. The company's policy is to maintain direct materials Inventory equal to 20% of the next month's direct materials requirement. At the end of February the company had 5.280 pounds of direct materials in inventory. The company's production budget reports the following Production Budget Units to produce March April May 3,300 4,600 4,800 (1) Prepare direct materials budgets for March and April (2) Prepare direct labor budgets for March and April (3) Prepare factory overhead budgets for Morch and Apri Complete this question by entering your answers in the tabs belov.

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 Yett manufactures garden sculptures. Each sculpture requires 8 pounds of direct materials at a cost of $3 per pound and 0.5 direct labor hour at a rate of $18 per hour. Varlable overhead is budgeted at a rate of $3 per direct labor hour. Budgeted fixed overhead is $4,000 per month. The company's policy is to maintain direct materials inventory equal to 20% of the next month's direct materials requirement. At the end of February the company had 5,280 pounds of direct materials in Inventory. The company's production budget reports the following. Production Budget Units to produce (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 Apri Complete this question by entering your answers in the tabs below. Required 1 Required Units to produce Prepare direct labor budgets for March and April. (Round TOL hours required per unit answers to two decimal places. GARDEN YETI Direct Labor Budget Direct labor hours needed Cost of direct abor April 3,300 4,600 4,800 Production budget Units to produce Garden Yeti manufactures garden sculptures. Each sculpture requires 8 pounds of direct materials at a cost of $3 per pound and 0.5 direct labor hour at a rate of $18 per hour. Variable overhead is budgeted at a rate of $3 per direct labor hour. Budgeted fixed overhead is $4,000 per month. The company's policy is to maintain direct materials Inventory equal to 20% of the next month's direct materials requirement. At the end of February the company had 5.280 pounds of direct materials in Inventory. The company's production budget reports the following Required 1 Required 3 March (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 Apri Direct labor hours needed March April 3,300 4,600 Complete this question by entering your answers in the tabs below. Required 2 Required 3 Budgeted variable overhead GARDEN YETI Factory Overhead Budget Budgeted total factory overhead April Prepare factory overhead budgets for March and April, 4,800 March April
Transcribed Image Text:Garden Yett manufactures garden sculptures. Each sculpture requires 8 pounds of direct materials at a cost of $3 per pound and 0.5 direct labor hour at a rate of $18 per hour. Varlable overhead is budgeted at a rate of $3 per direct labor hour. Budgeted fixed overhead is $4,000 per month. The company's policy is to maintain direct materials inventory equal to 20% of the next month's direct materials requirement. At the end of February the company had 5,280 pounds of direct materials in Inventory. The company's production budget reports the following. Production Budget Units to produce (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 Apri Complete this question by entering your answers in the tabs below. Required 1 Required Units to produce Prepare direct labor budgets for March and April. (Round TOL hours required per unit answers to two decimal places. GARDEN YETI Direct Labor Budget Direct labor hours needed Cost of direct abor April 3,300 4,600 4,800 Production budget Units to produce Garden Yeti manufactures garden sculptures. Each sculpture requires 8 pounds of direct materials at a cost of $3 per pound and 0.5 direct labor hour at a rate of $18 per hour. Variable overhead is budgeted at a rate of $3 per direct labor hour. Budgeted fixed overhead is $4,000 per month. The company's policy is to maintain direct materials Inventory equal to 20% of the next month's direct materials requirement. At the end of February the company had 5.280 pounds of direct materials in Inventory. The company's production budget reports the following Required 1 Required 3 March (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 Apri Direct labor hours needed March April 3,300 4,600 Complete this question by entering your answers in the tabs below. Required 2 Required 3 Budgeted variable overhead GARDEN YETI Factory Overhead Budget Budgeted total factory overhead April Prepare factory overhead budgets for March and April, 4,800 March April
Garden Yeti manufactures garden sculptures. Each sculpture requires 8 pounds of direct materials at a cost of $3 per pound and 0.5 direct labor hour at a rate of $18 per hour Variable overhead is budgeted at a rate of $3 per direct labor hour. Budgeted fixed overhead is $4,000 per month. The company's policy is to maintain direct materials inventory equal to 20% of the next month's directi materials requirement. At the end of February the company had 5,280 pounds of direct materials in inventory. The company's production budget reports the following. Production Budget Units to produce (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 March April Hay 3,300 4,600 4,800 Unds to produce Required 2 Required 3 Prepare direct materials budgets for March and April. GARDEN YETI Direct Materials Budget Materials needed for production (pounds) Total materials required (pounds) Matelas to purchase (pounds) March April < Prey 6 of 10 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 0.5 direct labor hour at a rate of $18 per hour Variable overhead is budgeted at a rate of $3 per direct labor hour. Budgeted fixed overhead is $4,000 per month. The company's policy is to maintain direct materials inventory equal to 20% of the next month's directi materials requirement. At the end of February the company had 5,280 pounds of direct materials in inventory. The company's production budget reports the following. Production Budget Units to produce (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 March April Hay 3,300 4,600 4,800 Unds to produce Required 2 Required 3 Prepare direct materials budgets for March and April. GARDEN YETI Direct Materials Budget Materials needed for production (pounds) Total materials required (pounds) Matelas to purchase (pounds) March April < Prey 6 of 10 Next >
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