Lens Junction sells lenses for $46 each and is estimating sales of 14,000 units in January and 19,000 in February. Each lens consists of 2 pounds of silicon costing $2.50 per pound, 3 oz of solution costing $3 per ounce, and 45 minutes of direct labor at a labor rate of $20 per hour. Desired inventory levels are: Jan. 31 Feb. 28 Mar. 31 Beginning inventory Finished goods 4,600 4,700 5,000 Direct materials: silicon 8,400 9,200 9,400 Direct materials: solution 11,000 12,000 12,800 Question Content Area Prepare a sales budget. Lens JunctionSales BudgetFor the Two Months Ending February 28, 20XX January February Expected Sales (Units) fill in the blank e8e527f4afc2f81_1 fill in the blank e8e527f4afc2f81_2 Sales Price per Unit $fill in the blank e8e527f4afc2f81_3 $fill in the blank e8e527f4afc2f81_4 Total Sales Revenue $fill in the blank e8e527f4afc2f81_5 $fill in the blank e8e527f4afc2f81_6 Total $fill in the blank e8e527f4afc2f81_7 Question Content Area Prepare a production budget. Lens JunctionProduction BudgetFor the Two Months Ending February 28, 20XX January February Expected Sales fill in the blank ce0b0d03afaafe8_1 fill in the blank ce0b0d03afaafe8_2 - Select - - Select - Total Required Units fill in the blank ce0b0d03afaafe8_6 fill in the blank ce0b0d03afaafe8_7 - Select - - Select - Required Production fill in the blank ce0b0d03afaafe8_11 fill in the blank ce0b0d03afaafe8_12 Total fill in the blank ce0b0d03afaafe8_13 Question Content Area Prepare direct materials budget for silicon. Lens JunctionDirect Materials Budget for SiliconFor the Two Months Ending February 28, 20XX January February Units to be Produced fill in the blank 1bdd8101afbcf87_1 fill in the blank 1bdd8101afbcf87_2 Direct Material per Unit fill in the blank 1bdd8101afbcf87_3 fill in the blank 1bdd8101afbcf87_4 Total Ounces Needed for Production fill in the blank 1bdd8101afbcf87_5 fill in the blank 1bdd8101afbcf87_6 - Select - - Select - Total Material Required fill in the blank 1bdd8101afbcf87_10 fill in the blank 1bdd8101afbcf87_11 - Select - - Select - Ounces of Direct Material Purchase Requirements fill in the blank 1bdd8101afbcf87_15 fill in the blank 1bdd8101afbcf87_16 Cost per Ounce $fill in the blank 1bdd8101afbcf87_17 $fill in the blank 1bdd8101afbcf87_18 Total Cost of Direct Material Purchase $fill in the blank 1bdd8101afbcf87_19 $fill in the blank 1bdd8101afbcf87_20 Total Direct Materials Silicon for Two Months Ending February 28, 20XX $fill in the blank 1bdd8101afbcf87_21 Question Content Area Prepare direct materials budget for solution. Lens JunctionDirect Materials Budget for SolutionFor the Two Months Ending February 28, 20XX January February Units to be Produced fill in the blank 4110e00ccfc9fac_1 fill in the blank 4110e00ccfc9fac_2 Direct Material per Unit fill in the blank 4110e00ccfc9fac_3 fill in the blank 4110e00ccfc9fac_4 Total Ounces Needed for Production fill in the blank 4110e00ccfc9fac_5 fill in the blank 4110e00ccfc9fac_6 - Select - - Select - Total Material Required fill in the blank 4110e00ccfc9fac_10 fill in the blank 4110e00ccfc9fac_11 - Select - - Select - Ounces of Direct Material Purchase Requirements fill in the blank 4110e00ccfc9fac_15 fill in the blank 4110e00ccfc9fac_16 Cost per Ounce $fill in the blank 4110e00ccfc9fac_17 $fill in the blank 4110e00ccfc9fac_18 Total Cost of Direct Material Purchase $fill in the blank 4110e00ccfc9fac_19 $fill in the blank 4110e00ccfc9fac_20 Total Direct Materials Solution for Two Months Ending February 28, 20XX $fill in the blank 4110e00ccfc9fac_21 Question Content Area Prepare a direct labor budget. Lens JunctionDirect Labor BudgetFor the Two Months Ending February 28, 20XX January February Units to be Produced fill in the blank 099e88043018fae_1 fill in the blank 099e88043018fae_2 Direct Labor Hours per Unit fill in the blank 099e88043018fae_3 fill in the blank 099e88043018fae_4 Total Required Direct Labor Hours fill in the blank 099e88043018fae_5 fill in the blank 099e88043018fae_6 Labor Cost per Hour $fill in the blank 099e88043018fae_7 $fill in the blank 099e88043018fae_8 Total Direct Labor Cost $fill in the blank 099e88043018fae_9 $fill in the blank 099e88043018fae_10 Total Direct Labor Budget For Two Months Ending February 28, 20XX $fill in the blank 099e88043018fae_11
Lens Junction sells lenses for $46 each and is estimating sales of 14,000 units in January and 19,000 in February. Each lens consists of 2 pounds of silicon costing $2.50 per pound, 3 oz of solution costing $3 per ounce, and 45 minutes of direct labor at a labor rate of $20 per hour. Desired inventory levels are: Jan. 31 Feb. 28 Mar. 31 Beginning inventory Finished goods 4,600 4,700 5,000 Direct materials: silicon 8,400 9,200 9,400 Direct materials: solution 11,000 12,000 12,800 Question Content Area Prepare a sales budget. Lens JunctionSales BudgetFor the Two Months Ending February 28, 20XX January February Expected Sales (Units) fill in the blank e8e527f4afc2f81_1 fill in the blank e8e527f4afc2f81_2 Sales Price per Unit $fill in the blank e8e527f4afc2f81_3 $fill in the blank e8e527f4afc2f81_4 Total Sales Revenue $fill in the blank e8e527f4afc2f81_5 $fill in the blank e8e527f4afc2f81_6 Total $fill in the blank e8e527f4afc2f81_7 Question Content Area Prepare a production budget. Lens JunctionProduction BudgetFor the Two Months Ending February 28, 20XX January February Expected Sales fill in the blank ce0b0d03afaafe8_1 fill in the blank ce0b0d03afaafe8_2 - Select - - Select - Total Required Units fill in the blank ce0b0d03afaafe8_6 fill in the blank ce0b0d03afaafe8_7 - Select - - Select - Required Production fill in the blank ce0b0d03afaafe8_11 fill in the blank ce0b0d03afaafe8_12 Total fill in the blank ce0b0d03afaafe8_13 Question Content Area Prepare direct materials budget for silicon. Lens JunctionDirect Materials Budget for SiliconFor the Two Months Ending February 28, 20XX January February Units to be Produced fill in the blank 1bdd8101afbcf87_1 fill in the blank 1bdd8101afbcf87_2 Direct Material per Unit fill in the blank 1bdd8101afbcf87_3 fill in the blank 1bdd8101afbcf87_4 Total Ounces Needed for Production fill in the blank 1bdd8101afbcf87_5 fill in the blank 1bdd8101afbcf87_6 - Select - - Select - Total Material Required fill in the blank 1bdd8101afbcf87_10 fill in the blank 1bdd8101afbcf87_11 - Select - - Select - Ounces of Direct Material Purchase Requirements fill in the blank 1bdd8101afbcf87_15 fill in the blank 1bdd8101afbcf87_16 Cost per Ounce $fill in the blank 1bdd8101afbcf87_17 $fill in the blank 1bdd8101afbcf87_18 Total Cost of Direct Material Purchase $fill in the blank 1bdd8101afbcf87_19 $fill in the blank 1bdd8101afbcf87_20 Total Direct Materials Silicon for Two Months Ending February 28, 20XX $fill in the blank 1bdd8101afbcf87_21 Question Content Area Prepare direct materials budget for solution. Lens JunctionDirect Materials Budget for SolutionFor the Two Months Ending February 28, 20XX January February Units to be Produced fill in the blank 4110e00ccfc9fac_1 fill in the blank 4110e00ccfc9fac_2 Direct Material per Unit fill in the blank 4110e00ccfc9fac_3 fill in the blank 4110e00ccfc9fac_4 Total Ounces Needed for Production fill in the blank 4110e00ccfc9fac_5 fill in the blank 4110e00ccfc9fac_6 - Select - - Select - Total Material Required fill in the blank 4110e00ccfc9fac_10 fill in the blank 4110e00ccfc9fac_11 - Select - - Select - Ounces of Direct Material Purchase Requirements fill in the blank 4110e00ccfc9fac_15 fill in the blank 4110e00ccfc9fac_16 Cost per Ounce $fill in the blank 4110e00ccfc9fac_17 $fill in the blank 4110e00ccfc9fac_18 Total Cost of Direct Material Purchase $fill in the blank 4110e00ccfc9fac_19 $fill in the blank 4110e00ccfc9fac_20 Total Direct Materials Solution for Two Months Ending February 28, 20XX $fill in the blank 4110e00ccfc9fac_21 Question Content Area Prepare a direct labor budget. Lens JunctionDirect Labor BudgetFor the Two Months Ending February 28, 20XX January February Units to be Produced fill in the blank 099e88043018fae_1 fill in the blank 099e88043018fae_2 Direct Labor Hours per Unit fill in the blank 099e88043018fae_3 fill in the blank 099e88043018fae_4 Total Required Direct Labor Hours fill in the blank 099e88043018fae_5 fill in the blank 099e88043018fae_6 Labor Cost per Hour $fill in the blank 099e88043018fae_7 $fill in the blank 099e88043018fae_8 Total Direct Labor Cost $fill in the blank 099e88043018fae_9 $fill in the blank 099e88043018fae_10 Total Direct Labor Budget For Two Months Ending February 28, 20XX $fill in the blank 099e88043018fae_11
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Lens Junction sells lenses for $46 each and is estimating sales of 14,000 units in January and 19,000 in February. Each lens consists of 2 pounds of silicon costing $2.50 per pound, 3 oz of solution costing $3 per ounce, and 45 minutes of direct labor at a labor rate of $20 per hour. Desired inventory levels are:
Jan. 31 Feb. 28 Mar. 31 Beginning inventory Finished goods 4,600 4,700 5,000 Direct materials: silicon 8,400 9,200 9,400 Direct materials: solution 11,000 12,000 12,800 Question Content Area
Lens JunctionSales BudgetFor the Two Months Ending February 28, 20XXPrepare a sales budget.
January February Expected Sales (Units) fill in the blank e8e527f4afc2f81_1 fill in the blank e8e527f4afc2f81_2 Sales Price per Unit $fill in the blank e8e527f4afc2f81_3 $fill in the blank e8e527f4afc2f81_4 Total Sales Revenue $fill in the blank e8e527f4afc2f81_5 $fill in the blank e8e527f4afc2f81_6 Total $fill in the blank e8e527f4afc2f81_7 Question Content Area
Lens JunctionProduction BudgetFor the Two Months Ending February 28, 20XXPrepare a production budget.
January February Expected Sales fill in the blank ce0b0d03afaafe8_1 fill in the blank ce0b0d03afaafe8_2 - Select - - Select - Total Required Units fill in the blank ce0b0d03afaafe8_6 fill in the blank ce0b0d03afaafe8_7 - Select - - Select - Required Production fill in the blank ce0b0d03afaafe8_11 fill in the blank ce0b0d03afaafe8_12 Total fill in the blank ce0b0d03afaafe8_13 Question Content Area
Lens JunctionDirect Materials Budget for SiliconFor the Two Months Ending February 28, 20XXPrepare direct materials budget for silicon.
January February Units to be Produced fill in the blank 1bdd8101afbcf87_1 fill in the blank 1bdd8101afbcf87_2 Direct Material per Unit fill in the blank 1bdd8101afbcf87_3 fill in the blank 1bdd8101afbcf87_4 Total Ounces Needed for Production fill in the blank 1bdd8101afbcf87_5 fill in the blank 1bdd8101afbcf87_6 - Select - - Select - Total Material Required fill in the blank 1bdd8101afbcf87_10 fill in the blank 1bdd8101afbcf87_11 - Select - - Select - Ounces of Direct Material Purchase Requirements fill in the blank 1bdd8101afbcf87_15 fill in the blank 1bdd8101afbcf87_16 Cost per Ounce $fill in the blank 1bdd8101afbcf87_17 $fill in the blank 1bdd8101afbcf87_18 Total Cost of Direct Material Purchase $fill in the blank 1bdd8101afbcf87_19 $fill in the blank 1bdd8101afbcf87_20 Total Direct Materials Silicon for Two Months Ending February 28, 20XX $fill in the blank 1bdd8101afbcf87_21 Question Content Area
Lens JunctionDirect Materials Budget for SolutionFor the Two Months Ending February 28, 20XXPrepare direct materials budget for solution.
January February Units to be Produced fill in the blank 4110e00ccfc9fac_1 fill in the blank 4110e00ccfc9fac_2 Direct Material per Unit fill in the blank 4110e00ccfc9fac_3 fill in the blank 4110e00ccfc9fac_4 Total Ounces Needed for Production fill in the blank 4110e00ccfc9fac_5 fill in the blank 4110e00ccfc9fac_6 - Select - - Select - Total Material Required fill in the blank 4110e00ccfc9fac_10 fill in the blank 4110e00ccfc9fac_11 - Select - - Select - Ounces of Direct Material Purchase Requirements fill in the blank 4110e00ccfc9fac_15 fill in the blank 4110e00ccfc9fac_16 Cost per Ounce $fill in the blank 4110e00ccfc9fac_17 $fill in the blank 4110e00ccfc9fac_18 Total Cost of Direct Material Purchase $fill in the blank 4110e00ccfc9fac_19 $fill in the blank 4110e00ccfc9fac_20 Total Direct Materials Solution for Two Months Ending February 28, 20XX $fill in the blank 4110e00ccfc9fac_21 Question Content Area
Lens JunctionDirect Labor BudgetFor the Two Months Ending February 28, 20XXPrepare a direct labor budget.
January February Units to be Produced fill in the blank 099e88043018fae_1 fill in the blank 099e88043018fae_2 Direct Labor Hours per Unit fill in the blank 099e88043018fae_3 fill in the blank 099e88043018fae_4 Total Required Direct Labor Hours fill in the blank 099e88043018fae_5 fill in the blank 099e88043018fae_6 Labor Cost per Hour $fill in the blank 099e88043018fae_7 $fill in the blank 099e88043018fae_8 Total Direct Labor Cost $fill in the blank 099e88043018fae_9 $fill in the blank 099e88043018fae_10 Total Direct Labor Budget For Two Months Ending February 28, 20XX $fill in the blank 099e88043018fae_11
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