Homework Help is Here – Start Your Trial Now!
Business
Accounting
Total Pop's data show the following information: Estimated sales in units Sales price per unit Direct labor per unit Labor rate per hour $45 $3 $18 New machinery will be added in April. This machine will reduce the labor required per unit and increase the labor rate for those employees qualified to operate the machinery. Finished goods inventory is required to be 20% of the next month's requirements. Direct material require pounds per unit at a cost of $3 per pound. The ending inventory required for direct materials is 15% of the next month's needs. In January, the beginning inventory is 2.900 units of finished goods and 4.380 pounds of material. Expected Sales Total Required Units Prepare a production budget for the first quarter of the year. Total Pop Production Budget Quarter Ending March 31, 20xx Required Production Jan. Feb. Mar. Apr. May 14,500 15.000 16.000 16,000 16.300 ▾ $45 $45 $45 $3 $2.25 $18 $20 $2 January February March Units to be Produced Direct Material per Unit Total Pounds needed for Production Prepare a direct materials budget for the first quarter of the year. Total Pop Direct Materials Budget Quarter Ending March 31, 20xx Total Material Required $20 Pounds of Direct Material Purchase Requirements Cost per Pound Total Cost of Direct Material Purchase $45 $2 $20 January February March

Total Pop's data show the following information: Estimated sales in units Sales price per unit Direct labor per unit Labor rate per hour $45 $3 $18 New machinery will be added in April. This machine will reduce the labor required per unit and increase the labor rate for those employees qualified to operate the machinery. Finished goods inventory is required to be 20% of the next month's requirements. Direct material require pounds per unit at a cost of $3 per pound. The ending inventory required for direct materials is 15% of the next month's needs. In January, the beginning inventory is 2.900 units of finished goods and 4.380 pounds of material. Expected Sales Total Required Units Prepare a production budget for the first quarter of the year. Total Pop Production Budget Quarter Ending March 31, 20xx Required Production Jan. Feb. Mar. Apr. May 14,500 15.000 16.000 16,000 16.300 ▾ $45 $45 $45 $3 $2.25 $18 $20 $2 January February March Units to be Produced Direct Material per Unit Total Pounds needed for Production Prepare a direct materials budget for the first quarter of the year. Total Pop Direct Materials Budget Quarter Ending March 31, 20xx Total Material Required $20 Pounds of Direct Material Purchase Requirements Cost per Pound Total Cost of Direct Material Purchase $45 $2 $20 January February March

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

Please do not give solution in image format thanku 

Total Pop's data show the following information: Jan. Feb. Mar. Apr. May 14,500 15,000 16,000 16,000 16,300 $45 $45 $45 $45 $45 $3 $2.25 $3 $2 $2 $18 $18 $20 $20 $20 New machinery will be added in April. This machine will reduce the labor required per unit and increase the labor rate for those employees qualified to operate the machinery. Finished goods inventory is required to be 20% of the next month's requirements. Direct material requires 2 pounds per unit at a cost of $3 per pound. The ending inventory required for direct materials is 15% of the next month's needs. In January, the beginning inventory is 2,900 units of finished goods and 4,380 pounds of material. Estimated sales in units Sales price per unit Direct labor per unit. Labor rate per hour Prepare a production budget for the first quarter of the year. Total Pop Production Budget Quarter Ending March 31, 20xx Expected Sales Total Required Units Required Production January February March Prepare a direct materials budget for the first quarter of the year. Total Pop Direct Materials Budget Quarter Ending March 31, 20XX Units to be Produced Direct Material per Unit Total Pounds needed for Production Total Material Required Pounds of Direct Material Purchase Requirements Cost per Pound Total Cost of Direct Material Purchase January February March $ $ $
Transcribed Image Text:Total Pop's data show the following information: Jan. Feb. Mar. Apr. May 14,500 15,000 16,000 16,000 16,300 $45 $45 $45 $45 $45 $3 $2.25 $3 $2 $2 $18 $18 $20 $20 $20 New machinery will be added in April. This machine will reduce the labor required per unit and increase the labor rate for those employees qualified to operate the machinery. Finished goods inventory is required to be 20% of the next month's requirements. Direct material requires 2 pounds per unit at a cost of $3 per pound. The ending inventory required for direct materials is 15% of the next month's needs. In January, the beginning inventory is 2,900 units of finished goods and 4,380 pounds of material. Estimated sales in units Sales price per unit Direct labor per unit. Labor rate per hour Prepare a production budget for the first quarter of the year. Total Pop Production Budget Quarter Ending March 31, 20xx Expected Sales Total Required Units Required Production January February March Prepare a direct materials budget for the first quarter of the year. Total Pop Direct Materials Budget Quarter Ending March 31, 20XX Units to be Produced Direct Material per Unit Total Pounds needed for Production Total Material Required Pounds of Direct Material Purchase Requirements Cost per Pound Total Cost of Direct Material Purchase January February March $ $ $
Prepare a direct labor budget for the first quarter of the year. Round your per unit answers to 2 decimal places. Total Pop Direct Labor Budget Quarter Ending March 31, 20xx January Units to be Produced Direct Labor Hours per Unit Total Required Direct Labor Hours Labor Cost per Hour Total Direct Labor Cost $ $ February March $1
Transcribed Image Text:Prepare a direct labor budget for the first quarter of the year. Round your per unit answers to 2 decimal places. Total Pop Direct Labor Budget Quarter Ending March 31, 20xx January Units to be Produced Direct Labor Hours per Unit Total Required Direct Labor Hours Labor Cost per Hour Total Direct Labor Cost $ $ February March $1
Expert Solution
steps

Step by step

Solved in 3 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Accounting for Merchandise Inventory
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS