c. Company policy also calls for a given quarter's ending raw materials inventory to equal 30% of next quarter's expected materials needed for production. The prior year-end inventory is 4,680 lbs of materials, which complies with the policy. The company expects to have 7,488 lbs. of materials in inventory at year-end. The company has no work in process inventory at the end of any quarter. d. Sales representatives' commissions are 12% of sales and are paid in the quarter of the sales. The sales manager's quarterly salary will be $113,000 in the first three quarters of the year, and $120,000 in the final quarter. Sales Budget Pruuuction Budget Direct MUIS Budget Statement Budget Budget Budget Budget Goods Sold Requirement Prepare the Direct Materials Budget for Shaw Inc. Company. Company policy calls for a given quarter's ending raw materials inventory to equal 30% of next quarter's expecte needed for production. The prior year-end Inventory is 4,680 lbs of materials, which complies with the policy. The expects to have 7,488 lbs. of materials in inventory at year-end. The product's manufacturing cost is $175 per un per unit costs of $96 for materials (8 lbs. at $12 per lb.), $60 for direct labor (3 hours x $20 direct labor rate pe variable overhead, and $4 for fixed overhead. Shaw Inc. Direct Materials Budget For the year ended December 31, 2018 First Qtr. Second Qtr. Third Qtr. Fourth Qtr. Total Materials needed for production (pounds) Total materials requirements (pounds) Materials to be purchased (pounds) Total cost of direct materials purchases Producuon Direct MUS wirect Lor income ractory un Selling EXP AO EXP LOST OF Sales Budget Budget Budget Hudget Budget Budget Budget Goods Sold Statement Requirement Prepare the Direct Labor Budget for Shaw Inc.. The product's manufacturing cost is $175 per unit unit costs of $96 for materials (8 lbs. at $12 per lb.), $60 for direct labor (3 hours x $20 direct labor rate per ho variable overhead, and $4 for fixed overhead. Shaw Inc. Direct Labor Budget For the year ended December 31, 2018 First Qtr. Second Qtr. Third Qtr. Fourth Qtr. Total Total direct labor hours needed Total budgeted direct labor cost (dollars) c. Company policy also calls for a given quarter's ending raw materials inventory to equal 30% of next quarter's expected materials needed for production. The prior year-end inventory is 4,680 lbs of materials, which complies with the policy. The company expects to have 7,488 lbs. of materials in inventory at year-end. The company has no work in process inventory at the end of any quarter. d. Sales representatives' commissions are 12% of sales and are paid in the quarter of the sales. The sales manager's quarterly salary will be $113,000 in the first three quarters of the year, and $120,000 in the final quarter. Sales Budget Pruuuction Budget Direct MUIS Budget Statement Budget Budget Budget Budget Goods Sold Requirement Prepare the Direct Materials Budget for Shaw Inc. Company. Company policy calls for a given quarter's ending raw materials inventory to equal 30% of next quarter's expecte needed for production. The prior year-end Inventory is 4,680 lbs of materials, which complies with the policy. The expects to have 7,488 lbs. of materials in inventory at year-end. The product's manufacturing cost is $175 per un per unit costs of $96 for materials (8 lbs. at $12 per lb.), $60 for direct labor (3 hours x $20 direct labor rate pe variable overhead, and $4 for fixed overhead. Shaw Inc. Direct Materials Budget For the year ended December 31, 2018 First Qtr. Second Qtr. Third Qtr. Fourth Qtr. Total Materials needed for production (pounds) Total materials requirements (pounds) Materials to be purchased (pounds) Total cost of direct materials purchases Producuon Direct MUS wirect Lor income ractory un Selling EXP AO EXP LOST OF Sales Budget Budget Budget Hudget Budget Budget Budget Goods Sold Statement Requirement Prepare the Direct Labor Budget for Shaw Inc.. The product's manufacturing cost is $175 per unit unit costs of $96 for materials (8 lbs. at $12 per lb.), $60 for direct labor (3 hours x $20 direct labor rate per ho variable overhead, and $4 for fixed overhead. Shaw Inc. Direct Labor Budget For the year ended December 31, 2018 First Qtr. Second Qtr. Third Qtr. Fourth Qtr. Total Total direct labor hours needed Total budgeted direct labor cost (dollars)
