Your company manufactures tabies and chairs In your role as a manager you are responsible for the budget preparalion for the quarter ending 30 March 2018 Tho quartor consists of 13 weeks The other managers are inexpenenced, and you decided to do the budget on your own You have accumuiated the following data for the quarter Finished product Tables Chairs Forecasted sales (unts) 5,525 11,050 Seling Price per unit R242 50 R152 00 Inventory opening balance (unta) 450 700 Closing Inventory Tables closing inventory must equal 1 week's sales units Chairs closing inventory must equal 2 week's sales units Raw Materials: Wood Metal Tables (meters per unit) 8m 1m Chairs (meters per unit) 3m O 50m Cost per meter R135 00 R150 00 Opening nventory (meters) 2,000m 750m Closing nventory Wood closing stock must equal 1 week's producton requirement Metal closing stock must equal 1 week's production requirement Required Prepare the following budgets 1 Production budget (Units) 2 Direct material usage budget (Meters) 3 Direct material purchase budget (Rands)
Your company manufactures tabies and chairs In your role as a manager you are responsible for the budget preparalion for the quarter ending 30 March 2018 Tho quartor consists of 13 weeks The other managers are inexpenenced, and you decided to do the budget on your own You have accumuiated the following data for the quarter Finished product Tables Chairs Forecasted sales (unts) 5,525 11,050 Seling Price per unit R242 50 R152 00 Inventory opening balance (unta) 450 700 Closing Inventory Tables closing inventory must equal 1 week's sales units Chairs closing inventory must equal 2 week's sales units Raw Materials: Wood Metal Tables (meters per unit) 8m 1m Chairs (meters per unit) 3m O 50m Cost per meter R135 00 R150 00 Opening nventory (meters) 2,000m 750m Closing nventory Wood closing stock must equal 1 week's producton requirement Metal closing stock must equal 1 week's production requirement Required Prepare the following budgets 1 Production budget (Units) 2 Direct material usage budget (Meters) 3 Direct material purchase budget (Rands)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Your company manufactures tabies and chairs In your role as a manager you are responsible for the
budget preparalion for the quarter ending 30 March 2018 Tho quartor consists of 13 weeks The other
managers are inexpenenced, and you decided to do the budget on your own You have accumuiated
the following data for the quarter
Finished product
Tables
Chairs
Forecasted sales (unts)
5,525
11,050
Seling Price per unit
R242 50
R152 00
Inventory opening balance (unta)
450
700
Closing Inventory
Tables closing inventory must equal 1 week's sales units
Chairs closing inventory must equal 2 week's sales units
Raw Materials:
Wood
Metal
Tables (meters per unit)
8m
1m
Chairs (meters per unit)
3m
O 50m
Cost per meter
R135 00
R150 00
Opening nventory (meters)
2,000m
750m
Closing nventory
Wood closing stock must equal 1 week's producton requirement
Metal closing stock must equal 1 week's production requirement
Required
Prepare the following budgets
1
Production budget (Units)
2
Direct material usage budget (Meters)
3
Direct material purchase budget (Rands)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F26b32415-b0fc-4c73-921c-83bf71cab6a1%2F73f27446-4558-4ae4-8afb-31ac7da3252c%2Fhudd9yp_processed.png&w=3840&q=75)
Transcribed Image Text:Your company manufactures tabies and chairs In your role as a manager you are responsible for the
budget preparalion for the quarter ending 30 March 2018 Tho quartor consists of 13 weeks The other
managers are inexpenenced, and you decided to do the budget on your own You have accumuiated
the following data for the quarter
Finished product
Tables
Chairs
Forecasted sales (unts)
5,525
11,050
Seling Price per unit
R242 50
R152 00
Inventory opening balance (unta)
450
700
Closing Inventory
Tables closing inventory must equal 1 week's sales units
Chairs closing inventory must equal 2 week's sales units
Raw Materials:
Wood
Metal
Tables (meters per unit)
8m
1m
Chairs (meters per unit)
3m
O 50m
Cost per meter
R135 00
R150 00
Opening nventory (meters)
2,000m
750m
Closing nventory
Wood closing stock must equal 1 week's producton requirement
Metal closing stock must equal 1 week's production requirement
Required
Prepare the following budgets
1
Production budget (Units)
2
Direct material usage budget (Meters)
3
Direct material purchase budget (Rands)
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps with 2 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Recommended textbooks for you
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education