Answer ALL FOUR QuestionsQuestion 12Total Pop's data show the following information of January, February, March, April,May 2022 (respectively):♦+Additional informationFinished goods inventory is required to be 20% of the next month's.Jan.Feb. Mar. Apr. MayEstimated sales (units) 15,000 14,500 16,000 15,500 15,800Sales price per unit $ 45 $ 45 $ 45 S45 $45Direct labor per unit $ 3 $ 3 $2.25 S 2 $Labor rate per hour $ 18 $ 18 S 21 $ 21 S221requirements.The ending inventory required for direct materials is 15% of the next month'sneeds.Direct material requires 2 pounds per unit at a cost of $3 per pound.In January, the beginning inventory is 3,000 units of finished goods and 4,470pounds of material.Required:Prepare the below budgets for the company:(a) a production budget for the first quarter of the year.(b) direct materials budget for the first quarter of the year.X

The budget is prepared to estimate the requirements for the current period. The production budget…

Total Pop's data show the following information of January, February, March, April May 2022 (respectively): Jan. 15,000 $ 45 $ Estimated sales (units) Sales price per unit Direct labor per unit $ Labor rate per hour $ 18 S 3 S Feb. Mar. Apr. May 14,500 16,000 45 15,500 15,800 45 $ 45 25 2 3 $ 2.25 18 S 21 $ 21 $ 21 $ 45 $ $ Additional information Finished goods inventory is required to be 20% of the next month's requirements. The ending inventory required for direct materials is 15% of the next month's needs. Direct material requires 2 pounds per unit at a cost of $3 per pound. In January, the beginning inventory is 3,000 units of finished goods and 4,470 pounds of material. Required: repare the below budgets for the company: (a) a production budget for the first quarter of the year. b) direct materials budget for the first quarter of the year.

Total Pop's data show the following information of January, February, March, April May 2022 (respectively): Jan. 15,000 $ 45 $ Estimated sales (units) Sales price per unit Direct labor per unit $ Labor rate per hour $ 18 S 3 S Feb. Mar. Apr. May 14,500 16,000 45 15,500 15,800 45 $ 45 25 2 3 $ 2.25 18 S 21 $ 21 $ 21 $ 45 $ $ Additional information Finished goods inventory is required to be 20% of the next month's requirements. The ending inventory required for direct materials is 15% of the next month's needs. Direct material requires 2 pounds per unit at a cost of $3 per pound. In January, the beginning inventory is 3,000 units of finished goods and 4,470 pounds of material. Required: repare the below budgets for the company: (a) a production budget for the first quarter of the year. b) direct materials budget for the first quarter of the year.

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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