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Sales Budget Unit Sales 0.1 Multiply Sales price 0.9 Total Sales Rev Type of Sale Cash Sales 0.10 Credit Sales 0.90 roduction Budget Unit Sales (cases) 0.12 Plus: Desired Ending inventory Total needed Less: Beginning inventory # of units to produce DirectMateral budge Silk s to be produced (from production budg ultiply by:Quanity of DM needed per unit Quantity needed for production Plus: Desired ending inventory of DM Total quantity needed Less: Beginning inventory of DM Quantity to purchase Multiply by: Costper pound Total costof DMourchases 1.75 $11 2.2 Direct Material budget-Vicose fabric s to be produced (from production budge ultiply by:Quanity of DM needed per unit Quantity needed for production Plus: Desired ending inventory of DM Total quantity needed Less: Beginning inventory of DM Quantity to purchase Multiply by: Costper pound Total costof DM ourchases DirectLabor Budget Units (cases) to be produced Multiply by: Directlabor hours per unit Total hours required Multiply by: Directlabor cost per unit Total directlabor cost MOH Budget Cases to be produced Variable MOH cost Indirect materials Indirect labor- Variable portion JULY Utilities- Variable portion Total Variable MOH Fixed MOH cost 667.00 $735 490,245.00 $ 49,024.50 441,220.50 490,245.00 JULY JULY JULY JULY 55 667 $ 83 750 695 695 1.75 1,216 183 1,399 220 1,179 $25.00 29,473 695 2 1,529 169 1,511 $11 16,616.16 1,698 187 AUGUST 690.00 $735 507,150.00 50,715.00 54,941.25 71,846.25 456,435.00 494,471.25 646,616.25 507,150.00 549412.50 718,462.50 AUGUST AUGUST SEPTEMBER OCTOBER NOVEMBER 690 $ 90 780 83 697 1,220 697 1.75 1,423 AUGUST 203 AUGUST 1,240 $25.00 30,989 183 1,533 188 697 2 1,721 169 SEPTEMBER OCTOBER NOVEMBER 1,552 $11 17,073.98 747.50 977.50 $735 $735 549,412.50 718,462.50 748 $ 117 865 90 775 775 1.75 1,356 SEPTEMBER OCTOBER 262 1,618 203 1415 $25.00 35,386 775 2 1,705 242 1,947 188 978 $ 138 1,116 1,759 $11 19,351.42 117 998 998 1.75 1,747 266 2,013 262 1,751 $25.00 43,771 998 2 2,196 245 2,441 242 1,150.00 $735 845,250.00 2,199 $11 24,189.44 84,525.00 760,725.00 845,250.00 1,150 1,150 138 1,012 NOVEMBER 1,012 1.75 1,771 1,771 0 266 1,505 $25.00 37,625 1,012 2 2,226 2,226 245 1,981 $11 21,795.40 SEPTEMBER OCTOBER NOVEMBER SEPTEMBER OCTOBER NOVEMBER

Sales Budget Unit Sales 0.1 Multiply Sales price 0.9 Total Sales Rev Type of Sale Cash Sales 0.10 Credit Sales 0.90 roduction Budget Unit Sales (cases) 0.12 Plus: Desired Ending inventory Total needed Less: Beginning inventory # of units to produce DirectMateral budge Silk s to be produced (from production budg ultiply by:Quanity of DM needed per unit Quantity needed for production Plus: Desired ending inventory of DM Total quantity needed Less: Beginning inventory of DM Quantity to purchase Multiply by: Costper pound Total costof DMourchases 1.75 $11 2.2 Direct Material budget-Vicose fabric s to be produced (from production budge ultiply by:Quanity of DM needed per unit Quantity needed for production Plus: Desired ending inventory of DM Total quantity needed Less: Beginning inventory of DM Quantity to purchase Multiply by: Costper pound Total costof DM ourchases DirectLabor Budget Units (cases) to be produced Multiply by: Directlabor hours per unit Total hours required Multiply by: Directlabor cost per unit Total directlabor cost MOH Budget Cases to be produced Variable MOH cost Indirect materials Indirect labor- Variable portion JULY Utilities- Variable portion Total Variable MOH Fixed MOH cost 667.00 $735 490,245.00 $ 49,024.50 441,220.50 490,245.00 JULY JULY JULY JULY 55 667 $ 83 750 695 695 1.75 1,216 183 1,399 220 1,179 $25.00 29,473 695 2 1,529 169 1,511 $11 16,616.16 1,698 187 AUGUST 690.00 $735 507,150.00 50,715.00 54,941.25 71,846.25 456,435.00 494,471.25 646,616.25 507,150.00 549412.50 718,462.50 AUGUST AUGUST SEPTEMBER OCTOBER NOVEMBER 690 $ 90 780 83 697 1,220 697 1.75 1,423 AUGUST 203 AUGUST 1,240 $25.00 30,989 183 1,533 188 697 2 1,721 169 SEPTEMBER OCTOBER NOVEMBER 1,552 $11 17,073.98 747.50 977.50 $735 $735 549,412.50 718,462.50 748 $ 117 865 90 775 775 1.75 1,356 SEPTEMBER OCTOBER 262 1,618 203 1415 $25.00 35,386 775 2 1,705 242 1,947 188 978 $ 138 1,116 1,759 $11 19,351.42 117 998 998 1.75 1,747 266 2,013 262 1,751 $25.00 43,771 998 2 2,196 245 2,441 242 1,150.00 $735 845,250.00 2,199 $11 24,189.44 84,525.00 760,725.00 845,250.00 1,150 1,150 138 1,012 NOVEMBER 1,012 1.75 1,771 1,771 0 266 1,505 $25.00 37,625 1,012 2 2,226 2,226 245 1,981 $11 21,795.40 SEPTEMBER OCTOBER NOVEMBER SEPTEMBER OCTOBER NOVEMBER

FINANCIAL ACCOUNTING
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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Need help finding the Direct labor budget & MOH budget. I attached what i have so far. 

4. Each jacket requires 12 hours of direct labor. H&BClothing, uses a series of drawing, cutting, and sawing machines set up for specialized operations to achieve production efficiencies. Direct labor costs the company $25 per hour. Prepare a Direct Labor budget. 5. H&BClothing budgets indirect materials (e.g., shoulder pads, stitching threads, buttons, labels, and packaging) at $35.50 per jacket. H&BClothing treats indirect labor and utilities as mixed costs. The variable components are $20.00 per jacket for indirect labor and $5.50 per jacket for utilities. The following fixed costs per month are budgeted for indirect labor, $25,000, utilities, $2,200, and other, $22,000. Prepare a Manufacturing Overhead budget.
Transcribed Image Text:4. Each jacket requires 12 hours of direct labor. H&BClothing, uses a series of drawing, cutting, and sawing machines set up for specialized operations to achieve production efficiencies. Direct labor costs the company $25 per hour. Prepare a Direct Labor budget. 5. H&BClothing budgets indirect materials (e.g., shoulder pads, stitching threads, buttons, labels, and packaging) at $35.50 per jacket. H&BClothing treats indirect labor and utilities as mixed costs. The variable components are $20.00 per jacket for indirect labor and $5.50 per jacket for utilities. The following fixed costs per month are budgeted for indirect labor, $25,000, utilities, $2,200, and other, $22,000. Prepare a Manufacturing Overhead budget.
Sales Budget Unit Sales 0.1 Multiply Sales price 0.9 Total Sales Rev Type of Sale Cash Sales 0.10 Credit Sales 0.90 Production Budget Unit Sales (cases) 0.12 Plus: Desired Ending inventory Total needed Less: Beginning inventory #ofunits to produce Direct Materal budge Silk s to be produced (from production budg Multiply by:Quanity of DM needed per unit Quantity needed for production Plus: Desired ending inventory of DM caring and and Total quantity needed Less: Beginning inventory of DM odgaming Quantity to purchase Multiply by: Costper pound Total costofDMourchases $11 1.75 2.2 Direct Material budget- Vicose fabric s to be produced (from production budg multiply by:Quanity of DM needed per unit Quantity needed for production Plus: Desired ending inventory of DM Total quantity needed Less: Beginning inventory of DM Quantity to purchase Multiply by: Costper pound Total costof DM ourchases DirectLabor Budget Units (cases) to be produced Multiply by: Directlabor hours per unit Total hours required Multiply by: Directlabor cost per unit Total directlabor cost MOH Budget Cases to be produced Variable MOH cost Indirect materials Indirect labor- Variable portion Utilities- Variable portion Total Variable MOH Fixed MOH cost Depreciation on factory equipment surance & property taxes on factory Indirect labor- fixed portion Utilities- Fixed Portion Total Fixed MOH JULY Total Manufacturing overhead 667.00 $735 490,245.00 $ JULY 49,024.50 50,715.00 441,220.50 456,435.00 490,245.00 507,150.00 JULY JULY JULY 55 667 $ 83 750 695 695 1.75 1,216 183 1,399 220 1,179 $25.00 29,473 695 2 1,529 169 1,511 $11 16,616.16 AUGUST 1,698 187 690.00 $735 507,150.00 AUGUST AUGUST 690 90 780 83 697 1,220 697 1.75 1,423 AUGUST 203 AUGUST 1,240 $25.00 30,989 183 2 1,533 188 697 1,721 169 109 1,552 $11 17,073.98 SEPTEMBER OCTOBER NOVEMBER 747.50 977.50 $735 $735 549412.50 718,462.50 $ 54,941.25 71,846.25 494,471.25 646,616.25 549,412.50 718,462.50 SEPTEMBER OCTOBER NOVEMBER 748 $ 117 865 90 775 775 1.75 1,356 SEPTEMBER OCTOBER 262 1,618 203 1,415 $25.00 35,386 775 2 1,705 242 1,947 188 978 $ 138 1,116 1,759 $11 19,351.42 117 998 998 1.75 1,747 266 2,013 262 1,751 $25.00 43,771 998 2 2,196 245 2,441 242 1,150.00 $735 845,250.00 2,199 $11 24,189.44 84,525.00 760,725.00 845,250.00 1,150 1,150 138 1,012 NOVEMBER 1,012 1.75 1,771 1,771 0 266 1,505 $25.00 37,625 1,012 2 2,226 2,226 245 1,981 $11 21,795.40 SEPTEMBER OCTOBER NOVEMBER SEPTEMBER OCTOBER NOVEMBER
Transcribed Image Text:Sales Budget Unit Sales 0.1 Multiply Sales price 0.9 Total Sales Rev Type of Sale Cash Sales 0.10 Credit Sales 0.90 Production Budget Unit Sales (cases) 0.12 Plus: Desired Ending inventory Total needed Less: Beginning inventory #ofunits to produce Direct Materal budge Silk s to be produced (from production budg Multiply by:Quanity of DM needed per unit Quantity needed for production Plus: Desired ending inventory of DM caring and and Total quantity needed Less: Beginning inventory of DM odgaming Quantity to purchase Multiply by: Costper pound Total costofDMourchases $11 1.75 2.2 Direct Material budget- Vicose fabric s to be produced (from production budg multiply by:Quanity of DM needed per unit Quantity needed for production Plus: Desired ending inventory of DM Total quantity needed Less: Beginning inventory of DM Quantity to purchase Multiply by: Costper pound Total costof DM ourchases DirectLabor Budget Units (cases) to be produced Multiply by: Directlabor hours per unit Total hours required Multiply by: Directlabor cost per unit Total directlabor cost MOH Budget Cases to be produced Variable MOH cost Indirect materials Indirect labor- Variable portion Utilities- Variable portion Total Variable MOH Fixed MOH cost Depreciation on factory equipment surance & property taxes on factory Indirect labor- fixed portion Utilities- Fixed Portion Total Fixed MOH JULY Total Manufacturing overhead 667.00 $735 490,245.00 $ JULY 49,024.50 50,715.00 441,220.50 456,435.00 490,245.00 507,150.00 JULY JULY JULY 55 667 $ 83 750 695 695 1.75 1,216 183 1,399 220 1,179 $25.00 29,473 695 2 1,529 169 1,511 $11 16,616.16 AUGUST 1,698 187 690.00 $735 507,150.00 AUGUST AUGUST 690 90 780 83 697 1,220 697 1.75 1,423 AUGUST 203 AUGUST 1,240 $25.00 30,989 183 2 1,533 188 697 1,721 169 109 1,552 $11 17,073.98 SEPTEMBER OCTOBER NOVEMBER 747.50 977.50 $735 $735 549412.50 718,462.50 $ 54,941.25 71,846.25 494,471.25 646,616.25 549,412.50 718,462.50 SEPTEMBER OCTOBER NOVEMBER 748 $ 117 865 90 775 775 1.75 1,356 SEPTEMBER OCTOBER 262 1,618 203 1,415 $25.00 35,386 775 2 1,705 242 1,947 188 978 $ 138 1,116 1,759 $11 19,351.42 117 998 998 1.75 1,747 266 2,013 262 1,751 $25.00 43,771 998 2 2,196 245 2,441 242 1,150.00 $735 845,250.00 2,199 $11 24,189.44 84,525.00 760,725.00 845,250.00 1,150 1,150 138 1,012 NOVEMBER 1,012 1.75 1,771 1,771 0 266 1,505 $25.00 37,625 1,012 2 2,226 2,226 245 1,981 $11 21,795.40 SEPTEMBER OCTOBER NOVEMBER SEPTEMBER OCTOBER NOVEMBER
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