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Grates The budget director of Gourmet Grill Company requests estimates of sales, production, and other operating data from the various administrative units every month. Selected information concerning sales and production for March is summarized as follows: a. Estimated sales for March by sales territory: Maine: Shelves Backyard Chef Master Chef Vermont: Backyard Chef Master Chef New Hampshire: Stainless steel Grates. Backyard Chef Master Chef c. Desired inventories at March 31: Direct materials: Direct materials: Stainless steel Shelves b. Estimated inventories at March 1: Grates Stainless steel Burner subassemblies Shelves Finished products: Backyard Chef Master Chef Burner subassemblies Shelves Finished products: Backyard Chef Master Chef d. Direct materials used in production: In manufacture of Backyard Chef: Grates Stainless steel Burner subassemblies In manufacture of Master Chef: Burner subassemblies. 350 units at $800 per unit 200 units at $1,400 per unit 400 units at $825 per unit 240 units at $1,500 per unit 320 units at $850 per unit 200 units at $1,600 per unit 300 units 1,500 lb. 210 units 400 units 3 units per unit of product 24 lb. per unit of product 2 units per unit of product 4 units per unit of product 6 units per unit of product 42 lb. per unit of product 4 units per unit of product 5 units per unit of product 40 units 26 units 320 units 1,700 lb. 190 units 350 units 30 units 36 units e. Anticipated purchase price for direct materials: Grates Stainless steel Burner subassemblies Shelves f. Direct labor requirements: Backyard Chef: Stamping Department Forming Department Assembly Department Master Chef: Stamping Department Forming Department Assembly Department $16 per unit $8 per lb. $120 per unit $12 per unit 0.50 hr. at $18 per hr. 0.60 hr. at $16 per hr. 1.0 hr. at $15 per hr. 0.60 hr. at $18 per hr. 0.80 hr. at $16 per hr. 1.50 hrs. at $15 per hr.

Grates The budget director of Gourmet Grill Company requests estimates of sales, production, and other operating data from the various administrative units every month. Selected information concerning sales and production for March is summarized as follows: a. Estimated sales for March by sales territory: Maine: Shelves Backyard Chef Master Chef Vermont: Backyard Chef Master Chef New Hampshire: Stainless steel Grates. Backyard Chef Master Chef c. Desired inventories at March 31: Direct materials: Direct materials: Stainless steel Shelves b. Estimated inventories at March 1: Grates Stainless steel Burner subassemblies Shelves Finished products: Backyard Chef Master Chef Burner subassemblies Shelves Finished products: Backyard Chef Master Chef d. Direct materials used in production: In manufacture of Backyard Chef: Grates Stainless steel Burner subassemblies In manufacture of Master Chef: Burner subassemblies. 350 units at $800 per unit 200 units at $1,400 per unit 400 units at $825 per unit 240 units at $1,500 per unit 320 units at $850 per unit 200 units at $1,600 per unit 300 units 1,500 lb. 210 units 400 units 3 units per unit of product 24 lb. per unit of product 2 units per unit of product 4 units per unit of product 6 units per unit of product 42 lb. per unit of product 4 units per unit of product 5 units per unit of product 40 units 26 units 320 units 1,700 lb. 190 units 350 units 30 units 36 units e. Anticipated purchase price for direct materials: Grates Stainless steel Burner subassemblies Shelves f. Direct labor requirements: Backyard Chef: Stamping Department Forming Department Assembly Department Master Chef: Stamping Department Forming Department Assembly Department $16 per unit $8 per lb. $120 per unit $12 per unit 0.50 hr. at $18 per hr. 0.60 hr. at $16 per hr. 1.0 hr. at $15 per hr. 0.60 hr. at $18 per hr. 0.80 hr. at $16 per hr. 1.50 hrs. at $15 per hr.

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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Grates The budget director of Gourmet Grill Company requests estimates of sales, production, and other operating data from the various administrative units every month. Selected information concerning sales and production for March is summarized as follows: a. Estimated sales for March by sales territory: Grates Maine: c. Desired inventories at March 31: Direct materials: Shelves Backyard Chef Master Chef Vermont: Backyard Chef Master Chef New Hampshire: Stainless steel Grates Backyard Chef Master Chef b. Estimated inventories at March 1: Direct materials: Grates Stainless steel Burner subassemblies Shelves Burner subassemblies Shelves Finished products: Backyard Chef Master Chef Finished products: Backyard Chef Master Chef d. Direct materials used in production: In manufacture of Backyard Chef: Stainless steel Shelves Stainless steel Burner subassemblies In manufacture of Master Chef: Burner subassemblies. 350 units at $800 per unit 200 units at $1,400 per unit 400 units at $825 per unit 240 units at $1,500 per unit 320 units at $850 per unit 200 units at $1,600 per unit 300 units 1,500 lb. 210 units 400 units 40 units 3 units per unit of product 24 lb. per unit of product 2 units per unit of product 4 units per unit of product 6 units per unit of product 42 lb. per unit of product 4 units per unit of product 5 units per unit of product 26 units 320 units 1,700 lb. 190 units 350 units 30 units 36 units e. Anticipated purchase price for direct materials: Grates Stainless steel Burner subassemblies Shelves f. Direct labor requirements: Backyard Chef: Stamping Department Forming Department Assembly Department Master Chef: Stamping Department Forming Department Assembly Department $16 per unit $8 per lb. $120 per unit $12 per unit 0.50 hr. at $18 per hr. 0.60 hr. at $16 per hr. 1.0 hr. at $15 per hr. 0.60 hr. at $18 per hr. 0.80 hr. at $16 per hr. 1.50 hrs. at $15 per hr.
Transcribed Image Text:Grates The budget director of Gourmet Grill Company requests estimates of sales, production, and other operating data from the various administrative units every month. Selected information concerning sales and production for March is summarized as follows: a. Estimated sales for March by sales territory: Grates Maine: c. Desired inventories at March 31: Direct materials: Shelves Backyard Chef Master Chef Vermont: Backyard Chef Master Chef New Hampshire: Stainless steel Grates Backyard Chef Master Chef b. Estimated inventories at March 1: Direct materials: Grates Stainless steel Burner subassemblies Shelves Burner subassemblies Shelves Finished products: Backyard Chef Master Chef Finished products: Backyard Chef Master Chef d. Direct materials used in production: In manufacture of Backyard Chef: Stainless steel Shelves Stainless steel Burner subassemblies In manufacture of Master Chef: Burner subassemblies. 350 units at $800 per unit 200 units at $1,400 per unit 400 units at $825 per unit 240 units at $1,500 per unit 320 units at $850 per unit 200 units at $1,600 per unit 300 units 1,500 lb. 210 units 400 units 40 units 3 units per unit of product 24 lb. per unit of product 2 units per unit of product 4 units per unit of product 6 units per unit of product 42 lb. per unit of product 4 units per unit of product 5 units per unit of product 26 units 320 units 1,700 lb. 190 units 350 units 30 units 36 units e. Anticipated purchase price for direct materials: Grates Stainless steel Burner subassemblies Shelves f. Direct labor requirements: Backyard Chef: Stamping Department Forming Department Assembly Department Master Chef: Stamping Department Forming Department Assembly Department $16 per unit $8 per lb. $120 per unit $12 per unit 0.50 hr. at $18 per hr. 0.60 hr. at $16 per hr. 1.0 hr. at $15 per hr. 0.60 hr. at $18 per hr. 0.80 hr. at $16 per hr. 1.50 hrs. at $15 per hr.
2. Prepare a production budget for March. Gourmet Grill Company Production Budget For the Month Ending March 31 Expected units to be sold Plus desired inventory, March 31 Total Less estimated inventory, March 1 Total units to be produced Units Backyard Chef Master Chef
Transcribed Image Text:2. Prepare a production budget for March. Gourmet Grill Company Production Budget For the Month Ending March 31 Expected units to be sold Plus desired inventory, March 31 Total Less estimated inventory, March 1 Total units to be produced Units Backyard Chef Master Chef
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