Perpetual Clocks is a manufacturer of clocks. It makes two products: Homeware Clocks- medium wall clocks made from Plastics. Custom Clocks- large free-standing clocks made from Tasmanian oak The budgeted direct cost inputs for each product in 2018 are: Homeware line Plastic framing Tasmanian oak framing Plastic links Tasmanian oak links Direct manufacturing labour 4 square metres 0 8 0 6 hours Custom line 0 10 square metres 0 8 10 hours Unit data pertaining to the direct materials for March 2018 are: Actual beginning direct materials inventory (1 March 2018) Plastic framing (square metres) Tasmanian oak framing (square metres) Plastic links Tasmanian oak links Homeware line 80 Plastic framing (square metres) Tasmanian oak framing (square metres) Plastic links Tasmanian oak links 0 200 0 Target ending direct materials inventory (31 March 2018) Homeware line 48 0 160 0 Custom line 0 February (actual) 80 60 Custom line 0 80 0 88 Unit cost data for direct cost inputs pertaining to February 2018 and March 2018 are: March (budgeted) for March 2018 is $85 000. Both variable and fixed manufacturing overhead costs are allocated to each unit of finished goods. Data relating to finished goods inventory for March 2018 are: Homeware line . Beginning inventory in units Beginning inventory in dollars (cost) Target ending inventory in units . 40 $20 960 60 Budgeted sales for March 2018 are 1,480 units of the Homeware line and 780 units of the Custom line. The budgeted selling prices per unit in March 2018 are $2,040 for the Homeware-line clock and $3,200 for the Custom-line desk. Assume the following in your answer: Custom line 10 $9 700 30 Work-in-process inventories are negligible and ignored. Direct materials inventory and finished goods inventory are costed using the FIFO method. Unit costs of direct materials purchased and finished goods are constant in March 2018. Unit cost data for direct cost inputs pertaining to February 2018 and March 2018 are: Plastic framing (per square metre) Tasmanian oak framing (per square metre) Plastic links (per link) Tasmanian oak links (per link) Manufacturing labour cost per hour February (actual) $ 288 230 22 34 60 March (budgeted) $ 320 250 24 36 60 Manufacturing overhead (both variable and fixed) is allocated to each clock on the basis of budgeted direct manufacturing labour-hours per clock. The budgeted variable manufacturing overhead rate for March 2018 is $70 per direct manufacturing labour-hour. The budgeted fixed manufacturing overhead . Beginning inventory in units Beginning inventory in dollars (cost) Target ending inventory in units line Required 1. Prepare the following budgets for March 2018: a. revenues budget b. production budget in units 40 C. direct materials usage budget d. direct materials purchases budget $20 960 60 Budgeted sales for March 2018 are 1,480 units of the Homeware line and 780 units of the Custom line The budgeted selling prices per unit in March 2018 are $2,040 for the Homeware-line clock and $3,200 for the Custom-line desk. Assume the following in your answer: line 10 Work-in-process inventories are negligible and ignored. Direct materials inventory and finished goods inventory are costed using the FIFO method. Unit costs of direct materials purchased and finished goods are constant in March 2018. e. direct manufacturing labour budget f. manufacturing overhead budget g. ending inventories budget (direct materials and finished goods) h. cost of goods sold budget. $9 700 30