matendis purchases budget Anticipated sales for Safety Grip Company were 71,000 passenger car tires and 21,000 truck tires. Rubber and steel belts are used in producing passenger car and truck tires as follows: Passenger Car 29 lbs. per unit 7 lbs. per unit Truck 68 lbs. per unit Rubber Steel belts 18 lbs. per unit The purchase prices of rubber and steel are $3.40 and $4.50 per pound, respectively. The desired ending inventories of rubber and steel belts are 67,000 and 14,000 pounds, respectively. The estimated beginning inventories for rubber and steel belts are 78,000 and 11,000 pounds, respectively. Prepare a direct materials purchases budget for Safety Grip Company for the year ended December 31, 20Y9. Safety Grip Company Direct Materials Purchases Budget For the Year Ending December 31, 20Y9 Rubber Line Item Description Pounds required for production: Passenger tires Truck tires Total pounds available Total units purchased Unit price Total direct materials to be purchased X S lbs. lbs. 2 lbs. Steel Belts x S lbs. lbs. | lbs. Total

matendis purchases budget Anticipated sales for Safety Grip Company were 71,000 passenger car tires and 21,000 truck tires. Rubber and steel belts are used in producing passenger car and truck tires as follows: Passenger Car 29 lbs. per unit 7 lbs. per unit Truck 68 lbs. per unit Rubber Steel belts 18 lbs. per unit The purchase prices of rubber and steel are $3.40 and $4.50 per pound, respectively. The desired ending inventories of rubber and steel belts are 67,000 and 14,000 pounds, respectively. The estimated beginning inventories for rubber and steel belts are 78,000 and 11,000 pounds, respectively. Prepare a direct materials purchases budget for Safety Grip Company for the year ended December 31, 20Y9. Safety Grip Company Direct Materials Purchases Budget For the Year Ending December 31, 20Y9 Rubber Line Item Description Pounds required for production: Passenger tires Truck tires Total pounds available Total units purchased Unit price Total direct materials to be purchased X S lbs. lbs. 2 lbs. Steel Belts x S lbs. lbs. | lbs. Total

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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possible Heavy Products, Inc. developed standard costs for direct material and direct labor. In 2017, All estimated the following standard costs for one of their major products, the 10- gallon plastic container. Budgeted quantity. 0.1 pounds Budgeted price $100 per pound $20 per hour Direct materials Direct labor 0.1 hours During June, Heavy Products produced and sold 20,000 containers using 2,500 pounds of direct materials at an average cost per pound of $106 and 2,000 direct manufacturing labor - hours at an average wage of $101.00 per hour. The direct manufacturing labor efficiency variance during June is A. $162,000 favorable O B. $1,620,000 unfavorable OC. $0 M OD. $20,200 unfavorable http He In20 gallo Missim https:// Heav In 2017, 10minus 1 answer Missing: 0
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