A B C D E F G H K L M N O P Q R S T U V W 53 Complete the direct materials purchases budget for April - June and the quarter in total. 54 Hint: You...
View the step-by-step solution to:
Question

Screenshot (11).png

alt="Screenshot (10).png" />Screenshot (9).pngScreenshot (8).png


I am unsure how to find the blank zones to requirement 7.

Screenshot (10).png

A
B
C
D
E
F
G
H
K
L
M
N
O
P
Q
R
S
T
U
V
W
53 Complete the direct materials purchases budget for April - June and the quarter in total.
54
Hint: You will need to calculate units to be
55 Direct Materials Purchases Budget
April
May
June
Total
produced for July in order to calculate the
56 Units to be produced
826
868
987
,711 material needs for June.
57 Pounds of DM per unit produced
4
4
4
58 Total needed for production
3,304
3,592
3,948
10,844
Desired ending inventory
660.80
718.40
789.60
2,168.80
Total material requirement
3,965
4,310
4,738
13,013
61 Beginning inventory
200
661
718
1,579
Total pounds to purchase
3,765
3,650
4,019
11,434
63 Cost per pound
5 $
5 $
5 $
64 Total cost of DM
$ 18,824 $ 18,248 $
20,096 $ 57,168
65
66
67
68
69 Requirement 4:
70
71 Direct laborers will spend 1 hour on each pot. Direct labors are paid an average of $22 per hour.
72 Complete the Direct Labor Budget below:
73
74 Direct Labor Budget
April
May
June
Total
75 Units to be produced
826
898
987
2,711
76 DL hours per unit
1.0
1.0
1.0
1.0
77 Total DL hours
826
398
987
2,711
78 DL rate per hour
$
22 $
22 $
22 $
22
79 Total cost of DL
$ 18,172 $ 19,756 $
21,714 $ 59,642
80
81 Requirement 5:
82
83 Multiply your lowest digit (other than 0) from your student ID number above by 1000 and insert for other fixed costs below.
84 Each flower pot requires $3 of indirect materials (variable MOH). Fixed manufacturing overhead consists of depreciation
85 of $1,000 per month, utilities of $1,200 per month, the suprevisor's salary of $4,000 per month, and other fixed costs of
86 $ 1,000.00 per month.
87
Sheet1
+
-
Type here to search
O
9
3:1
A Z( 11/2

Screenshot (11).png

17
18 Multiply the highest digit from your student ID number above by 100 and enter in the box below
19 Sales in units for April are expected to be:
800
20
21 Sales are expected to increase by 10% each month through August. Each pot sells for $150.
22 Complete the Sales Budget for April - June and the quarter in total.
23
24
Sales Budget
Apri
May
June
Tota
25 Sales in units
800
380
968
2,648
26 Price per unit
$
150 $
150
$
150 $
150
27 Total sales dollars
S
120,000
$ 132,000
$ 145,200
$
397,200
28
29 Requirment 2:
30
31 Multiply your lowest digit (other than 0) from your student ID number above by 10 and insert for the % below:
32
33 The company wants to have
10%
(per above) of the flower pots that are expected to be sold
34 the following month on hand at the end of each month. There were 80 flower pots on hand at the end of March.
Page 4
35
36 Complete the Production Budget for April - June and the quarter in total.
Hint: You will need to calculate July's sales
37
in units in order to calculate the desired ending
38 Production Budget
April
May
June
Total
inventory for June.
39 Sales in units
800
880
968
2,648
40 Desired ending inventory
176
194
213
213
41 Total required
976
1,074
1,181
2,861
42 Beginning inventory
150
176
194
150
43 Total units to produce
826
868
987
2,711
44
45 Requirement 3:
46
17 Each flower pot requires 4 lbs. of polyresin. The company wants to always have 20% of the materials required for the following month
48 on hand at the end of each month. At the end of March, there was 200 pounds of polyresin on hand. Polyresin sells for
49 $5 per pound.
50
51
Hint. The next three budgets are all manufacturing cost budgets and use units to be produced not sold
Sheet1
+
T
Type here to search
O

Screenshot (8).png

133
134 Prepare the budgeted income statement for the quarter ending June 30 below using variable costing and the contribution
135 margin format.
136
Perfect Pots, Inc.
137
Contribution Income Statement
138
Quarter Ending June 30
139
Total
Per Unit
140 Sales
$ 397,200 $
150
14
142 Variable Costs:
143
Direct Materials
20
144
Direct labor
22
145
Variable Overhead
3
146
Variable Selling Expense
2
147 Total Variable Costs
47
148
149 Contribution Margin
150
151 Fixed Costs:
152
Manufacturing Overhead
153
Administrative Expenses
154 Total Fixed Costs
155
156 Operating Income
157
158
159 Requirement 8. (Formulas encouraged, but not required for this requiem
Page 6
160
161 Suppose actual sales for the quarter totaled 1.900 units and $279.300. Total variable costs
Sheet1
Type here to search
O
Fi

Screenshot (9).png

E144
X
V
22
A
B
C
D
E
F
G
H
K
M
N
O
P
Q
R
S
T
U
89
90 Manufacturing Overhead Budget
April
May
June
Total
91 Variable Overhead
92 Units to be produced
326
898
987
2,711
93 Variable overhead per unit
$
3 $
3 $
3 $
3
94 Total variable overhead
2,478 $
2,694 $
2,961 $
8,133
95 Fixed Overhead
96
Depreciation
$
1,000 $
1,000 $
1,000 $
3,000
97
Supervisor's salary
4,000
4,000
4,000 $ 12,000
98
Factory utilities
1,200
1,200
1,200 $
3,600
99
Other
1,000
1,000
1,000 $
3,000
100 Total fixed overhead
7,200
,200 $
7,200 $ 21,600
101 Total Manufacturing Overhead
S
9,678 $ 9,894 $
10,161 $ 29,733
2
Page 5
102
103 Requirement 6:
104 Selling expenses are $2.00 per flower pot. Administrative costs are all fixed and consist of monthly depreciation of $500, biling and
105 accounting costs of $ 2,000 and other administrative costs of $800.
106
07 Complete the Operating Expense Budget below:
108
109 Operating Expense Budget
April
May
June
Total
Hint: Use units to be sold, not produced.
110 Variable Selling Expenses
111 Units to be sold
826
898
987
2,711
112 Selling expenses per unit sold
$
2
$
2 $
2 $
113 Total variable selling expenses
S
1,652 $
1,796 $
1,974 $
5,422
114 Fixed Administrative Expenses
115
Depreciation
S
500
$
500
500
S
1,500
16 Billing and accounting
2,000
2,000
2,000
S
6,000
117
Other administrative costs
800
800
800
2,400
118 Total fixed administrative
$
3,300 $
3,300 $
3,300 $
9,900
119 Total Operating Expenses
S
4,952
S
5,096 $
5,274 $ 15,322
120
121
122
Sheet1
+
Type here to search
O

Top Answer

As you have asked about... View the full answer

feefwffeefwe.JPG

Sign up to view the full answer

Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors.

  • -

    Study Documents

    Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

    Browse Documents
  • -

    Question & Answers

    Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!

    Ask a Question