Oriole Company makes and sells artistic frames for pictures. The controller is responsible for preparing the master budget and hasaccumulated the following information for 2022:Estimated unit salesSales price per unitDirect labour hours per unitDirect labour cost per hourJanuary11,000$49.002.00$8.00February March April11,000$46.302.00$8.008,000$46.301.50$8.008,000$46.301.50$9.00May9,000$46.301.50$9.00Oriole has a labour contract that calls for a wage increase to $9.00 per hour on April 1. It has installed new labour-saving machinery,which will be fully operational by March 1.Oriole expects to begin the year with 16,500 frames on hand and has a policy of carrying an end-of-month inventory of 100% of thefollowing month's sales, plus 50% of the next month's sales.(a) Prepare a production budget and a direct labour budget for Oriole by month and for the first quarter of the year. The direct labourbudget should include direct labour hours and show the detail for each direct labour cost category. (Round DLH per unit and laborrate per hour to 2 decimal places, e.g. 12.25 and all other answers to 0 decimal places, e.g. 125.)ORIOLE COMPANYProduction BudgetFor the quarter ending March 31, 2022

The production budget specifies how many units are to be produced, accounting for variables like…

Oriole Company makes and sells artistic frames for pictures. The controller is responsible for preparing accumulated the following information for 2022: Estimated unit sales Sales price per unit January 11,000 $49.00 February March 11,000 8,000 April 8,000 $46.30 $46.30 $46.30 May 9,000 $46.30

Oriole Company makes and sells artistic frames for pictures. The controller is responsible for preparing accumulated the following information for 2022: Estimated unit sales Sales price per unit January 11,000 $49.00 February March 11,000 8,000 April 8,000 $46.30 $46.30 $46.30 May 9,000 $46.30

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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