Garden Yeti manufactures garden sculptures. Each sculpture requires 8 pounds of direct materials at a cost of $3 per pound and 0.5direct labor hour at a rate of $18 per hour. Variable overhead is budgeted at a rate of $3 per direct labor hour. Budgeted fixedoverhead is $4,000 per month. The company's policy is to maintain direct materials inventory equal to 20% of the next month's directmaterials requirement. At the end of February the company had 5,280 pounds of direct materials in inventory. The company'sproduction budget reports the following.Production BudgetUnits to produceMarch3,300April4,600(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.Required 1 Required 2 Required 3Direct labor hours neededVariable overhead rate per direct labor hourBudgeted variable overheadBudgeted fixed overheadBudgeted total factory overheadPrepare factory overhead budgets for March and April.GARDEN YETIFactory Overhead BudgetMay4,80069March$$0 $690April6900

The budget is prepared to estimate the requirements for the period. The materials budget is prepared…

Garden Yeti manufactures garden sculptures. Each sculpture requires 8 pounds of direct materials at a cost of $3 per pound and 0.5 lirect labor hour at a rate of $18 per hour. Variable overhead is budgeted at a rate of $3 per direct labor hour. Budgeted fixed verhead is $4,000 per month. The company's policy is to maintain direct materials inventory equal to 20% of the next month's direc naterials 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 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 0.5 lirect labor hour at a rate of $18 per hour. Variable overhead is budgeted at a rate of $3 per direct labor hour. Budgeted fixed verhead is $4,000 per month. The company's policy is to maintain direct materials inventory equal to 20% of the next month's direc naterials 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 March and April. Complete this question by entering your answers in the tabs below.

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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am. 118.
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