A B C D E F G H K L M N O P Q R S T U V W 53 Complete the direct materials purchases budget for April - June and the quarter in total. 54 Hint: You will need to calculate units to be 55 Direct Materials Purchases Budget April May June Total produced for July in order to calculate the 56 Units to be produced 826 868 987 ,711 material needs for June. 57 Pounds of DM per unit produced 4 4 4 58 Total needed for production 3,304 3,592 3,948 10,844 Desired ending inventory 660.80 718.40 789.60 2,168.80 Total material requirement 3,965 4,310 4,738 13,013 61 Beginning inventory 200 661 718 1,579 Total pounds to purchase 3,765 3,650 4,019 11,434 63 Cost per pound 5 $ 5 $ 5 $ 64 Total cost of DM $ 18,824 $ 18,248 $ 20,096 $ 57,168 65 66 67 68 69 Requirement 4: 70 71 Direct laborers will spend 1 hour on each pot. Direct labors are paid an average of $22 per hour. 72 Complete the Direct Labor Budget below: 73 74 Direct Labor Budget April May June Total 75 Units to be produced 826 898 987 2,711 76 DL hours per unit 1.0 1.0 1.0 1.0 77 Total DL hours 826 398 987 2,711 78 DL rate per hour $ 22 $ 22 $ 22 $ 22 79 Total cost of DL $ 18,172 $ 19,756 $ 21,714 $ 59,642 80 81 Requirement 5: 82 83 Multiply your lowest digit (other than 0) from your student ID number above by 1000 and insert for other fixed costs below. 84 Each flower pot requires $3 of indirect materials (variable MOH). Fixed manufacturing overhead consists of depreciation 85 of $1,000 per month, utilities of $1,200 per month, the suprevisor's salary of $4,000 per month, and other fixed costs of 86 $ 1,000.00 per month. 87 Sheet1 + - Type here to search O 9 3:1 A Z( 11/217 18 Multiply the highest digit from your student ID number above by 100 and enter in the box below 19 Sales in units for April are expected to be: 800 20 21 Sales are expected to increase by 10% each month through August. Each pot sells for $150. 22 Complete the Sales Budget for April - June and the quarter in total. 23 24 Sales Budget Apri May June Tota 25 Sales in units 800 380 968 2,648 26 Price per unit $ 150 $ 150 $ 150 $ 150 27 Total sales dollars S 120,000 $ 132,000 $ 145,200 $ 397,200 28 29 Requirment 2: 30 31 Multiply your lowest digit (other than 0) from your student ID number above by 10 and insert for the % below: 32 33 The company wants to have 10% (per above) of the flower pots that are expected to be sold 34 the following month on hand at the end of each month. There were 80 flower pots on hand at the end of March. Page 4 35 36 Complete the Production Budget for April - June and the quarter in total. Hint: You will need to calculate July's sales 37 in units in order to calculate the desired ending 38 Production Budget April May June Total inventory for June. 39 Sales in units 800 880 968 2,648 40 Desired ending inventory 176 194 213 213 41 Total required 976 1,074 1,181 2,861 42 Beginning inventory 150 176 194 150 43 Total units to produce 826 868 987 2,711 44 45 Requirement 3: 46 17 Each flower pot requires 4 lbs. of polyresin. The company wants to always have 20% of the materials required for the following month 48 on hand at the end of each month. At the end of March, there was 200 pounds of polyresin on hand. Polyresin sells for 49 $5 per pound. 50 51 Hint. The next three budgets are all manufacturing cost budgets and use units to be produced not sold Sheet1 + T Type here to search O133 134 Prepare the budgeted income statement for the quarter ending June 30 below using variable costing and the contribution 135 margin format. 136 Perfect Pots, Inc. 137 Contribution Income Statement 138 Quarter Ending June 30 139 Total Per Unit 140 Sales $ 397,200 $ 150 14 142 Variable Costs: 143 Direct Materials 20 144 Direct labor 22 145 Variable Overhead 3 146 Variable Selling Expense 2 147 Total Variable Costs 47 148 149 Contribution Margin 150 151 Fixed Costs: 152 Manufacturing Overhead 153 Administrative Expenses 154 Total Fixed Costs 155 156 Operating Income 157 158 159 Requirement 8. (Formulas encouraged, but not required for this requiem Page 6 160 161 Suppose actual sales for the quarter totaled 1.900 units and $279.300. Total variable costs Sheet1 Type here to search O FiE144 X V 22 A B C D E F G H K M N O P Q R S T U 89 90 Manufacturing Overhead Budget April May June Total 91 Variable Overhead 92 Units to be produced 326 898 987 2,711 93 Variable overhead per unit $ 3 $ 3 $ 3 $ 3 94 Total variable overhead 2,478 $ 2,694 $ 2,961 $ 8,133 95 Fixed Overhead 96 Depreciation $ 1,000 $ 1,000 $ 1,000 $ 3,000 97 Supervisor's salary 4,000 4,000 4,000 $ 12,000 98 Factory utilities 1,200 1,200 1,200 $ 3,600 99 Other 1,000 1,000 1,000 $ 3,000 100 Total fixed overhead 7,200 ,200 $ 7,200 $ 21,600 101 Total Manufacturing Overhead S 9,678 $ 9,894 $ 10,161 $ 29,733 2 Page 5 102 103 Requirement 6: 104 Selling expenses are $2.00 per flower pot. Administrative costs are all fixed and consist of monthly depreciation of $500, biling and 105 accounting costs of $ 2,000 and other administrative costs of $800. 106 07 Complete the Operating Expense Budget below: 108 109 Operating Expense Budget April May June Total Hint: Use units to be sold, not produced. 110 Variable Selling Expenses 111 Units to be sold 826 898 987 2,711 112 Selling expenses per unit sold $ 2 $ 2 $ 2 $ 113 Total variable selling expenses S 1,652 $ 1,796 $ 1,974 $ 5,422 114 Fixed Administrative Expenses 115 Depreciation S 500 $ 500 500 S 1,500 16 Billing and accounting 2,000 2,000 2,000 S 6,000 117 Other administrative costs 800 800 800 2,400 118 Total fixed administrative $ 3,300 $ 3,300 $ 3,300 $ 9,900 119 Total Operating Expenses S 4,952 S 5,096 $ 5,274 $ 15,322 120 121 122 Sheet1 + Type here to search O
