17 Exercise 22-16 Manufacturing: Direct materials, direct labor, and overhead budgets LO P1 5.88 points Sipped Omamental Sculptures Mfg. manufactures garden sculptures. Each sculpture requires 7 pounds of direct materials at a cost of $4 per pound and 0.4 direct labor hours at a rate of $13 per hour. Variable manufacturing overhead is charged at a rate of $3 per direct labor hour. Fixed manufacturing overhead is $3,400 per month. The company's policy is to maintain direct materials inventory equal to 30% of the next month's materials requirement. At the end of February the company had 4,580 pounds of direct materials in inventory. The company's production budget reports the following Production Budget March Aprel May Units to be produced 3,500 5,000 eBook 5,400 Hint Print References (1) Prepare direct materials budgets for March and April (2) Prepare direct labor budgets for March and April (3) Prepare factory overhead budgets for March and April Complete this question by entering your answers in the tabs below. 17 Required 1 Required 2 Required 3 Prepare direct materials budgets for March and April 5.88 points 5tipped BOW Hint ORNAMENTAL SCULPTURES MEG: Direct Materials Budget For the Months of March and April March April Budgeted production (units) Materials requirements per unit (lbs) Materials needed for production (lbs) 0 Budgeted ending inventory (lbs) Total materials requirements (lbs) 0 Budgeted beginning inventory (lbs) Materials to be purchased (lbs) 0 Direct material cost per lb Total budgeted direct materials $ 0 $ 0 Print References 0 0 0 17 Required 1 Required 2 Required 3 5.88 points Skoped Prepare direct labor budgets for March and April. (Round "DL hours required per unit" answers to two decimal places.) ORNAMENTAL SCULPTURES MEG! Direct Labor Budget For the Months of March and April March April Budgeted production (units) DL hours required per unit Total direct labor hours needed 0 0 Direct labor rato per hour Total budgeted direct labor $ 0$ 0 Book Hint Print References 17 Required 1 Required 2 Required 3 5.88 points Slapped Prepare factory overhead budgets for March and April ORNAMENTAL SCULPTURES MFG Factory Overhead Budget For the Months of March and April March April Total direct labor hours needed VOH rate per DL hour Budgeted variable overhead $ os 0 Budgeted food overhead Total budgeted factory overhead $ 0 s 0 eBook rt Print References