The following data are available for the 2012 budget: Direct materials Red Oak $ 7 per board foot (b.f.) (same as in 2011) Granite $10 per square foot (sq. ft.) (Same as in 201- Direct manufacturing labor $20 per hour Content of Each Product Unit Product Casual Granite Table Deluxe Granite Table Red Oak 12 board feet 12 board feet 8 square feet 6 hours Granite 6 square feet Direct manufacturing 4 hours labor Product Casual Granite Table Deluxe Granite Table Expected sales in 50,000 10,000 units Selling price Target ending $ 600 $ 800 11,000 500 inventory in units Beginning inventory in 1,000 500 units Beginning inventory in $384,000 $262,000 dollars Direct Materials Red Oak Granite Beginning inventory Target ending inventory 70,000 b.f. 60,000 sq. ft. 20,000 sq. f 80,000 b.f. Required: Based on the above data prepare:- A. Revenue Budget B. Production Budget C. Prepare the Direct Material Usage Budget and Direct Material Purchases Budget.

The following data are available for the 2012 budget: Direct materials Red Oak $ 7 per board foot (b.f.) (same as in 2011) Granite $10 per square foot (sq. ft.) (Same as in 201- Direct manufacturing labor $20 per hour Content of Each Product Unit Product Casual Granite Table Deluxe Granite Table Red Oak 12 board feet 12 board feet 8 square feet 6 hours Granite 6 square feet Direct manufacturing 4 hours labor Product Casual Granite Table Deluxe Granite Table Expected sales in 50,000 10,000 units Selling price Target ending $ 600 $ 800 11,000 500 inventory in units Beginning inventory in 1,000 500 units Beginning inventory in $384,000 $262,000 dollars Direct Materials Red Oak Granite Beginning inventory Target ending inventory 70,000 b.f. 60,000 sq. ft. 20,000 sq. f 80,000 b.f. Required: Based on the above data prepare:- A. Revenue Budget B. Production Budget C. Prepare the Direct Material Usage Budget and Direct Material Purchases Budget.

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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Subject - Accounting