1 QS 22-12 Manufacturing: Production budget LO P1 Champ, Inc., predicts the following sales in units for the coming two months: 1 points May June 250 270 Sales in units eBook Each month's ending inventory of finished units should be 60% of the next month's sales. The April 30 finished goods inventory is 150 units. Compute Champ's budgeted production (in units) for May. CO Hint CHAMP, INC. Production Budget For Month Ended May 31 Print Required units of available production Units to be produced 2 ! Part 1 of 3 Required information Use the following information for the Quick Study below. Miami Solar manufactures solar panels for industrial use. The company budgets production of 5,100 units (solar panels) in July and 5,400 units in August. 1 points QS 22-13 Manufacturing: Direct materials budget LO P1 eBook Each unit requires 3 pounds of direct materials, which cost $6 per pound. The company's policy is to maintain direct materials inventory equal to 30% of the next month's direct materials requirement. As of June 30, the company has 4,590 pounds of direct materials in inventory, which complies with the policy. Prepare a direct materials budget for July. Hint MIAMI SOLAR Print Direct Materials Budget For Month Ended July 31 Budget production (units) 5,100 Materials needed for production (lbs.) Total materials requirements (lbs.) Materials to be purchased (lbs.) Budgeted cost of direct materials purchases 3 ! Part 2 of 3 Required information Use the following information for the Quick Study below. Miami Solar manufactures solar panels for industrial use. The company budgets production of 5,100 units (solar panels) in July and 5,400 units in August. 1 points QS 22-14 Manufacturing: Direct labor budget LO P1 eBook Each unit requires 4 hours of direct labor at a rate of $13 per hour. Prepare a direct labor budget for July. Hint MIAMI SOLAR Direct Labor Budget For Month Ended July 31 production Print Bud 5,100 Total labor hours needed Budgeted cost of direct labor 4 Part 3 of 3 Required information Use the following information for the Quick Study below. Miami Solar manufactures solar panels for industrial use. The company budgets production of 5,100 units (solar panels) in July and 5,400 units in August. 1 points QS 22-15 Manufacturing: Factory overhead budget LO P1 eBook Each unit requires 4 hours of direct labor at a rate of $13 per hour. Variable factory overhead is budgeted to be 70% of direct labor cost, and fixed factory overhead is $172,000 per month. Prepare a factory overhead budget for August. Hint MIAMI SOLAR Factory Overhead Budget For Month Ended August 31 Print Budgeted total overhead 5 QS 22-19 Cash receipts LO P2 1 points Music World reports the following sales forecast: August $130,000; and September, $190,000. Cash sales are normally 60% of total sales and all credit sales are expected to be collected in the month following the date of sale. Prepare a schedule of cash receipts for September. MUSIC WORLD eBook Cash Receipts Budget For Month Ended September 30 September cash sales Collection of accounts receivable Hint Total budgeted cash receipts Print