Answered step by step
Verified Expert Solution
Question
1 Approved Answer
2 6 12 if you could show work! pleaseee. greatly appreicated 2 Zira Co. reports the following production budget for the next four months. Production
2
6
12
if you could show work! pleaseee. greatly appreicated
2 Zira Co. reports the following production budget for the next four months. Production (unita) April 732 May 760 June 766 July 746 1.33 points Each finished unit requires four pounds of raw materials and the company wants to end each month with raw materials inventory equal to 30% of next month's production needs. Beginning raw materials inventory for April was 878 pounds. Assume direct materials cost $5 per pound Prepare a direct materials budget for April, May, and June. (Round your intermediate calculations and final answers to the nearest whole dollar amount.) Book Hint Print ZIRA CO. Direct Materials Budget For April, May, and June April 732 May June 760 766 units References Budgeted production (units) Materials requirements per unit Materials needed for production (lbs.) Budgeted ending Inventory (lbs) Total materials requirements (lbs.) Beginning inventory (lbs.) Materials to be purchased (lbs) Cost per ib. Total budgeted direct materials cost (878) lbs. $ srs $ Sperib 6 Required information Ramos Co. provides the following sales forecast and production budget for the next four months. Part 1 of 2 July April 680 May 760 750 Sales (units) Budgeted production (units) June 710 720 780 133 points 720 eBook The company plans for finished goods inventory of 300 units at the end of June. In addition, each finished unit requires 5 pounds of direct materials and the company wants to end each month with direct materials inventory equal to 30% of next month's production needs. Beginning direct materials inventory for April was 930 pounds. Direct materials cost $2 per pound. Each finished unit requires 0.60 hours of direct labor at the rate of $17 per hour. The company budgets variable overhead at the rate of $21 per direct labor hour and budgets fixed overhead of $9,800 per month Hint Prepare a direct materials budget for April, May, and June. Print References RAMOS CO. Direct Materials Budget For April, May, and June April Budget production (units) 620 Materials requirements per unit 5 Materials needed for production (lbs.) 3.100 Budgeted ending inventory (lbs.) Total materials requirements (lbs.) Budgeted units sales for month Materials to be purchased (bs.) 0 Materials price per pound $ 2.00 $ Budgeted cost of direct materials purchases $ 0 May 750 5 3.750 June 720 units 5 lbs 3,600 lbs 0 0 2.00 $ 0 2.00 1. Prepare a direct labor budget for April, May, and June. 2. Prepare a factory overhead budget for April, May, and June. Complete this question by entering your answers in the tabs below. ces Required 1 Required 2 Prepare a factory overhead budget for April May, and June. RAMOS CO. Factory Overhead Budget For April, May, and June April May June Total labor hours needed Budgeted variable overhead Budgeted fixed overhead Total budgeted factory overhead Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started