Prepare the direct-labor budget (in dollars) for 20x0. Finished-goods inventories (in units):Expected January 1, Desired December 31,20x020x023,0009,500ProductLight coilHeavy coilProduction overhead:Overhead Cost ItemPurchasing and material handlingDepreciation, utilities, and inspectionShippingGeneral production overhead28,00010,500Activity-Based Budget Rate$ 0.80$ 7.00$ 2.00$ 5.00per pound of sheet metal and copperwire purchasedper coil produced (either type)per coil shipped (either type)per direct-labor hour Vista Electronics, Incorporated, manufactures two different types of coils used in electric motors. In the fall of the currentyear, Erica Becker, the controller, compiled the following data.• Sales forecast for 20x0 (all units to be shipped in 20x0):Units58,00038,000●●ProductLight coilHeavy coilRaw-material prices and inventory levels:Expected Inventories,January 1, 20x036,000 Pound33,000 Pound5,800 unitsRa MaterialSheet metalCopper wirePlatformUse of raw material:PriceProductLight coilHeavy coilFinished-goodsProductLight coilHeavy coil$ 280380Raw MaterialSheet metalCopper wirePlatformDirect-labor requirements and rates:Amount Used per UnitLight Coil4 Pound2 PoundHours per Unit35inventories (in units):Desired Inventories,December 31, 20x040,000 Pound36,000 Pound6,800 units20x023,0009,500Heavy Coil5 Pound3 Pound2 unitRate per Hour$ 1520Expected January 1, Desired December 31,20x028,00010,500AnticipatedPurchase Price$1584

The budget is prepared by the management on the basis of past experience. On the basis of the…

Answered: Prepare the direct-labor budget (in…

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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Rodriguez, Inc., is preparing its direct labor budget for 2020 from the following production budget based on a calendar year. Quarter Units Quarter 3 1 2 20,000 25,000 4 Units 35,000 30,000 Each unit requires 1.50 hours of direct labor. Prepare a direct labor budget for 2020. Wage rates are expected to be $16 for the first 2 quarters and $18 for quarters 3 and 4. (Round Direct labor time per unit answers to 2 decimal places, eg. 52.50.) $ $ RODRIQUEZ, INC. Direct Labor Budget 2 Quarter $ $ 3 $ $ 4 Year
The Current Designs staff has prepared the annual manufacturing budget for the rotomolded line based on an estimated annual production of 3,960 kayaks during 2020. Each kayak will require 56 pounds of polyethylene powder and a finishing kit (rope, seat, hardware, etc.). The polyethylene powder used in these kayaks costs $1.00 per pound, and the finishing kits cost $150 each. Each kayak will use two kinds of labor-2 hours of type I labor from people who run the oven and trim the plastic, and 3 hours of work from type II workers who attach the hatches and seat and other hardware. The type I employees are paid $19 per hour, and the type II are paid $16 per hour. Manufacturing overhead is budgeted at $381,520 for 2020, broken down as follows. Variable costs Indirect materials Manufacturing supplies Maintenance and utilities Fixed costs Supervision Insurance Depreciation Total Polyethylene powder Finishing kits Type I labor Type II labor Indirect materials Manufacturing supplies Maintenance…
Prepare a direct labor budget for each of the upcoming five years. Cost labor per unit = $8 Total direct labor hours needed for a period = Number of units to be produced in that period * Direct labors hours needed per unit Total direct labor costs needed to meet production =Total direct labor hours needed for that period * Direct labor cost per hour
4. Prepare a cash budget by quarter and in total for next year.
Hi, please help :) Use the appropriate mixed cell references and relative references to reflect the percentages in range A22:B27 to determine the projected expenses for each of the Budgeted Selling and Budgeted Administrative Expenses for the year of 2022.
If the expected sales volume for the current period is 6,000 units, the desired ending inventory is 264 units, and the beginning inventory is 309 units, the number of units set forth in the production budget, representing total production for the current period, is a.6,264 b.6,000 c.5,691 d.5,955
Evaluate the following statements related to creating budget: I. In a production budget if the number of units in the finished goods inventory at the end of the period is less than the number of units in the finished goods inventory at the beginning of the period then the expected number of units sold is less than the number of units to be produced during the period Ii. in the merchandise purchases budget, the required purchases in units for a period can be determined by subtracting the beginning merchandise Inventory in units from the total of budgeted sales in unit and desired ending merchandise inventory (unit) III. When preparing a direct materials budget the beginning inventory for raw materials should be added to production needs, and the desired ending inventory should be subtracted to determine the amount of raw materials to be purchased Answer: ???
1. The following is true of the operational budget, except for: Select one: a. It has a short-term focus, usually one-year b. It sets a plan for the purchase of assets c It is concerned with the cash effect of sales and expenses d. It contains a production budget
Am. 308.
ll. Subject Accounting
LB Enterprises (LB) is preparing its budget for the first quarter of 2019. LB's balance sheet as of December 31, 2018 is as follows: Assets Liabilities Cash $5,000 Accounts Payable $9500 Accounts Recievable 28,000 Inventories Direct Materials 8,100 Finished Goods (500 Units) 16,870 Stockholders Equity Equipment - gross 45,000 Accumulated depreciation 15.000 Common Stock $15,000 Net Equipment 30,000 Retained Earnings 63,470 Total Assets $87,970 Total Liabilities and $87,960 Equity LB sells one product for $45/unit. The Company forecasts that it will sell 2,000; 1,500; 1,600; and 1,700 units in January, February, March and April, respectively. • Sales to customers are all on credit. 40% of the cash for these sales is collected in the month of the sale and the remaining 60% is collected in the following month. LB wants finished goods inventory equal to 25% of the next month's sales on hand at the end of each month. LB wants direct materials equal to 75% of the current month's production…

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