All questions on this assignment pertain to SB Manufacturing (SBM). SBM is a manufacturing company that makes two products, P1 and P2. The objective of this assignment is to work through various aspects of SBM's master budget for 2020 PART 1 DATA 2020 projected sales: Product Price Sales 48,700 88,700 12 P2 $65.00 $70.00 2020 projected Finished Goods inventory balance (units) Product 1/1/20 1 2/31/20 10,000 12,000 P2 24,000 20,000 * Calculate the following forecasts based upon the above data Forecast Revenues from Product 1 (P1) Q1 $3,165,500 Forecast Revenues from Product 2 (P2) 02 $6,209,000 Forecast Total Revenues Q3 $9 374,500 Calculate the following forecasts based upon the above data 22 Forecast Revenues from Product 1 (P1) $3,165,500 Forecast Revenues from Product 2 (P2) $6,209,000 26 Forecast Total Revenues Q3 $9,374,500 04 50.700 28 How many units of P1 should SBM manufacture in 2020? 30 31 How many units of P2 should SBM 32 manufacture in 2020? 84,700 35 PART 2 Beginning Balance Ending Balance 37 DATA 38 2020 Projected Production standards: Units per P1 46 Direct labor hrs T1 0.2 41 Direct labor hrs T2 0 42 Machine hrs 0.01 13 Lbs of Z1 Units per P2 Unit cost of input $40.00 $36.00 0.025 S150 0.3 PART 2 Beginning Balance Ending Balance DATA 2020 Projected Production standards: Units per P1 Direct labor hrs T1 Direct labor hrs T2 Machine hrs 0.01 Lbs of Z1 Units of Z2 Feet of Z3 Units per P2 Unit cost of input $40.00 0.3 $36.00 0.025 $1.50 $2.50 $0.75 42,000 60,000 85,000 42,000 70,000 60,000 The production of P1 and P2 requires direct labor (2 types), machine hours, 48 and direct materials (3 types: Z1, Z2, and Z3). Input-output relations 49 are given in the table above per unit of output. Input prices are per unit 50 of input such as a pound, hour, foot, or unit. 151 52 Based on your answers provided in Part 1 determine the following amounts need to satisfy production goals for 2020 58 The total number of Ti labor hours required 57 The total number of T2 labor hours required 60 The total number of machine hours required BE The total number of T1 labor hours required 06 57 The total number of T2 labor hours required 59 The total number of machine hours required 61 The total number of lbs. of input Z1 required 63 The total number of units of input Z2 required Q10 66 The total number of feet of input Z3 required Q11 What is the budget for T1 direct labor (dollars)? Q12 What is the budget for T2 direct labor (dollars)? Q13 71 What is the total labor budget (dollars)? Q14 What is the purchases budget for Z1 (dollars)? Q15 What is the purchases budget for Z2 (dollars)? 016 What is the purchases budget for 23 (dollars)? Q17 what is the budget for Tz direct Tabor dollarsy Q13 What is the total labor budget (dollars)? Q14 What is the purchases budget for Z1 (dollars)? 015 What is the purchases budget for Z2 (dollars)? Q16 What is the purchases budget for 23 (dollars)? Q17 Variable manufacturing overhead is budgeted at $15 per direct labor hour. While fixed factory overhead is estimated to be $2.5 million. It is allocated based on machine hours What is the budgeted variable OH for P1 (dollars)? 018 What is the budgeted fixed OH for P1 (dollars)? 019 Q20 What is the budgeted cost of goods manufactured for P1 (dollars)
