2 0 - Document3 - Word Search Jesse Bladecki B ert Design Layout References Mailings Review View Help A 1 Calibri (Body) 11 A A Aa A BIU XX A. PAB AaBbCcDc AaBbCcDc AaBb C AaBbcc AaB - 1 Normal 1 No Spac... Heading 1 Heading 2 Title = Font Paragraph Styles Production Budget. Mills, Inc., expects to sell 100 units in the first quarter and 90 units in the second quarter. Assuming the company prefers to maintain finished goods inventory equal to 10 percent of the next quarter's sales, prepare a production budget for the first quarter usingFigure 9.4as a you are preparing a production budget for the first quarter only.) 22. Direct Materials Purchases Budget. The production budget for Atkinson Company shows the company expects to produce 500 units in the first quarter and 600 units in the second quarter. Each unit requires 10 pounds of direct materials at a cost of $2 per pound. The company prefers to maintain raw materials inventory equal to 20 percent of next quarter's materials needed in production. Prepare a direct materials purchases budget usingFigure 9.5as a guide. (Hint: you are preparing a direct materials purchases budget for the first quarter only.) 23. Direct Labor Budget. The production budget for Atkinson Company shows the company expects to produce 500 units in the first quarter. Assuming each unit of product requires 3 direct labor hours at a cost of $13 per hour, prepare a direct labor budget for the first quarter usingFigure 9.6as a guide. (Hint: you are preparing a direct labor budget for the first quarter only.) 24. Manufacturing Overhead Budget. The production budget for Atkinson Company shows the company expects to produce 500 units in the first quarter. Assume variable overhead cost per unit is $5 for indirect materials, $8 for indirect labor, and $3 for other items. Fixed overhead cost per quarter is $30,000 for salaries, $20,000 for rent, and $8,000 for depreciation. Prepare a manufacturing overhead budget for the first quarter usingFigure 9.7as a guide (Hint: you are preparing a manufacturing overhead budget for the first quarter only.) D Focus R B e e FIGURE 9.1 Master Budget Schedules Sales Production Selling and administrative Direct materials Direct labor Manufacturing overhead Capital expenditures Income statement Cash Balance sheet See Figure 9.3 for the sales budget. See Figure 9.8 for the selling and administrative budget See Figure 9.4 for the production budget. d See Figure 9.5 for the direct materials purchases budget. See Figure 9.6 for the direct labor budget. See Figure 97 for the manufacturing overhead budget. See Figure 9.10 for the capital expenditures budget. See Figure 9.9 for the budgeted income statement. See Figure 9.11 for the cash budget. See Figure 9.12 for the budgeted balance sheet. KEY TAKE AWAY e e