Prepare direct materials budget for solution.Lens JunctionDirect Materials Budget for SolutionFor the Two Months Ending February 28, 20XXJanuary FebruaryUnits to be ProducedDirect Material per UnitTotal Ounces Needed for ProductionAdd: Desired Ending InventoryTotal Material RequiredLess: Beginning InventoryOunces of Direct Material Purchase RequirementsCost per OunceTotal Cost of Direct Material PurchaseTotal Direct Materials Solution for Two Months Ending February 28, 20XXFeedback%24 Lens Junction sells lenses for $43 each and is estimating sales of 15,000 units in January and 19,000 in February. Each lens consists of 2 pounds of silicon costing $2.50per pound, 3 oz of solution costing $3 per ounce, and 30 minutes of direct labor at a labor rate of $14 per hour. Desired inventory levels are:Jan. 31 Feb. 28 Mar. 31Beginning inventoryFinished goods4,3004,9004,900Direct materials: silicon8,4009,1009,300Direct materials: solution 11,000 11,800 12,900

Budgeting means where standard is set for various activities and department , then actual is…

Prepare direct materials budget for solution. Lens Junction Direct Materials Budget for Solution For the Two Months Ending February 28, 20XX January February Units to be Produced Direct Material per Unit Total Ounces Needed for Production Add: Desired Ending Inventory Total Material Required Less: Beginning Inventory Ounces of Direct Material Purchase Requirements Cost per Ounce Total Cost of Direct Material Purchase Total Direct Materials Solution for Two Months Ending February 28, 20XX

Prepare direct materials budget for solution. Lens Junction Direct Materials Budget for Solution For the Two Months Ending February 28, 20XX January February Units to be Produced Direct Material per Unit Total Ounces Needed for Production Add: Desired Ending Inventory Total Material Required Less: Beginning Inventory Ounces of Direct Material Purchase Requirements Cost per Ounce Total Cost of Direct Material Purchase Total Direct Materials Solution for Two Months Ending February 28, 20XX

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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