2)

Target Ending Inventory in Units: Knox ->1,800 & Ayer 800

Data table Revenues $ 1,011,200 98,970 71,110 390,000 37,800 Beginning inventory of finished goods (1-1-2020) Ending inventory of finished goods, 12-31-2020 Direct materials used Direct manufacturing labor Manufacturing overhead Variable marketing costs (9% of revenues) Fixed marketing costs Variable distribution costs ($0.50 per cu. ft. for 35,000 cu. ft.) 169,600 45,000 Fixed distribution costs 47,000 Fixed administration costs 78,000 Sparkle Corporation manufactures and sells two types of decorative lamps, Knox and Ayer. The following data are available for the year 2020. E Click the icon to view the information.) Calculate (1) the cost of goods sold budget (label it Schedule 7) (2) the operating (nonmanufacturing) costs budget (label it Schedule 8) and (3) the operating income budget for the year ending December 31, 2020. (1). Begin by calculating (1) the cost of goods sold budget (label it Schedule 7) for the year ending December 31, 2020. Schedule 7: Cost of Goods Sold Budget for the Year Ending December 31, 2020 Data table Direct materials Metal $ 3 per pound (same as in 2019) 4 per yard (same as in 2019) $ Fabric Direct manufacturing labor $ 21 per hour Machine setup overhead $ 140 per hour Content of Each Product Unit Knox Metal 1 pounds 1.00 yard Ayer 2 pounds 3.00 yards 0.25 hours Fabric 0.15 hours Direct manufacturing labor Machine setup overhead 0.032 hours 0.04 hours Direct Materials Metal Fabric Target ending inventory 15,000 pounds 3,000 yards Dazzling Corporation manufactures and sells two types of decorative lamps, Knox and Ayer. The following data are available for the year 2020. E (Click the icon to view the information.) Calculate (1) the budgeted unit costs of ending finished-goods inventory on December 31, 2020 (label it Schedule 6A) and (2) the ending inventories budget on December 31, 2020 (label it Schedule 6B). (1). Calculate the budgeted unit costs of ending finished-goods inventory on December 31, 2020 (label it Schedule 6A). (Round all dollar amounts to the nearest cent. Enter all input per unit of output amounts for direct manufacturing labor to two decimal places, and machine setup overhead to three decimal places.) Schedule 6A: Unit Costs of Ending Finished Goods-Inventory December 31, 2020 Product Cosp per unit of input Knox Input per unit of output Ayer Input per unit of output Total Total Metal lbs. lbs. Fabric yard yards Direct manufacturing labor hours hours Machine setup overhead hours hours Total