_ Requirement 1: Multiply the highest digit from your student ID number above by 100 and enter in the box below Sales in units for April are expected...
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I've gotten everything but requirement 8, I'm not sure what to do with this section. If I could get some help I would greatly appreciate it!

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Requirement 1: Multiply the highest digit from your student ID number above by 100 and enter in the box below
Sales in units for April are expected to be: 800 Sales are expected to increase by 10% each month through August. Each pot sells for S150.
Complete the Sales Budget for April - June and the quarter in total. Sales Budget April May June Total
Sales in units 800 880 968 2,648
Price per unit S 150 S 150 S 150 S 150
Total sales dollars 5 120,000 5 132,000 5 145,200 5 397,200 Multiply your lowest digit (other than 0] from your student ID number above by 10 and insert for the % below: a The company wants to have 1 % J I” amt tWer potsflare expected to be sold
. ereHOIowelJIHnd at the 1d of March. I ‘A “V the following month on hand at the end of each mo Complete the Production Budget for April- l-une and the quarter in tutu Hint: You will need to calculate July's sales
in units in order to calculate the desired ending
Production Budget April May June Total inventory for June. Sales in units 800 880 968 2,648
Desired ending inventory 176 194 213 213
Total required 976 1,074 1,181 2,861
Beginning inventory 150 176 194 150
Total units to produce 826 898 987 2,711 I
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45 Requirement 3: 47' 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. Hint: The next three budgets are all manufacturing cost budgets, and use units to be produced , not sold. Complete the direct materials purchases budget for April -June and the quarter in total.
Hint: You will need to calculate units to be
Direct Materials Purchases Budget April May June Total produced for July in order to calculate the
Units to he produced 826 898 987r 2,711 material needs for June. Pounds of DM per unit produced 4 4 4 4
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
Beginning inventory 200 661 718 1,579
Total pounds to purchase 3,765 3,650 4,019 11,434
Cost per pound S 5 S 5 5 5 5 5
Total cost of DM 5 18,824 $ 18,248 $ 20,095 $ 57,168

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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
898
987
2,711
78
DL rate per hour
22
S
22
S
22
S
22
79
Total cost of DL
S
18,172
$ 19,756
S
21,714
$ 59,642

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81 Requirement 5: 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 per month. 88 Complete the Manufacturing Overhead Budget below: 90 Manufacturing Overhead Budget April May June Total
91 Variable Overhead 92 Units to be produced 826 898 987 2,711
93 Variable overhead per unit 5 3 S 3 S 3 S 3
94 Total variable overhead 5 2,478 5 2,694 5 2,961 5 8,133 95 Fixed Overhead
96 Depreciation 5 1,000 5 1,000 5 1,000 3,000
97 Supervisor's salary 4,000 4,000 12,000 Factory utilities
Other 100 Total fixed overhead
101 Total Manufacturing Overhead lPQ'

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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
107 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
326
898
987
2,711
112 Selling expenses per unit sold
S
2
2 $
2
2
113 Total variable selling expenses
1,652
$ 1,796 $
1,974
$ 5,422
114 Fixed Administrative Expenses
115
Depreciation
S
500
S
500
$
500
S
1,500
116
Billing and accounting
2,000
2,000
2,000
S
6,000
17
Other administrative costs
800
300
S
2,400
118 Total fixed administrative
S
3,300
3,300
$
3,300
$ 9,900
119 Total Operating Expenses
4,952
S
5 ,096
S
5,274
$ 15,322
120
121
122
123
124

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132 Requirement 7. 134 Prepare the budgeted income statement for the quarter ending June 30 below using variable costing and the contribution
135 margin format. Perfect Pots, Inc.
Contribution Income Statement
Quarter Ending June 30 I
I I | I 4 l I I I I I I I Total Per Unit : 140 Sales 5 39?,200 5 150 I
I 142 Variable Costs: I
Direct Materials 5 52,960 20 I 144 Direct labor 5 58,256 22 I
145 Variable Overhead S 7,944 3 I
146 Variable Selling Expense 5 5,296 2 I
147 Total Variable Costs 124,456 42' I
I 149 Contribution Margin S 272,744 5 103 l
I 151 Fixed Costs: I
152 Manufacturing Overhead 5 2,200 i
153 Administrative Expenses 3,300 I
154 Total Fixed Costs 10 500 i
I 156 Operatinglncome S 262,244 i
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159 Requirement 8. (Formulas encouraged, but not required for this requirement)
160
161 Suppose actual sales for the quarter totaled 1,900 units and $279,300. Total variable costs
3
162 were $79,800. Calculate the following:
163
164
$
147
165
166 Actual variable cost per unit sold
S
42
167
Favorable/
168
Amount
Unfavorable
169 1) Volume Variance for Sales Revenue
170
171 2) Flexible Budget Variance for Sales Revenue
172
173 3) Volume Variance for Total Variable Costs
174
175 4) Flexible Budget Variance for Total Variable Costs
176
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Top Answer

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Variances.jpg

Variances
Formula
Result
Amount
Favorable or
Unfavorable
Reason
Budgeted sales is 2648 but actually 1900
1) Volume variance for sales revenue
( AQ - BQ )*BP (1900 - 2,648)*150
-1,12,200
1,12,200...

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