CH22 Waterways Continuing Problem 1 of 1_C section Need the following Budgets: Direct Materials Budget, Direct Labor Budget, Manufacturing Overhead Budget, Selling and Administrative Expense Budget, & Cash Budget

the month after sale. Accounts receivable on December 31, 2021, totaled $183,600. Direct Materials Direct materials cost 80 cents per pound. Two pounds of direct materials are required to produce each unit. month of purchase, and 50\% is paid in the month after purchase. Accounts Payable on December 31,2021 , totaled $120,595. Direct Labor Labor requires 12 minutes per unit for completion and is paid at a rate of $9 per hour. the first day of the month and repays on the last day of the month. A $510,000 equipment purchase is planned for February. (a) Your answer is correct. For the first quarter of 2022, prepare a sales budget. Your answer is correct. For the first quarter of 2022 , prepare a production budget. (c) For the first quarter of 2022, prepare a direct materials budget. (Round cost per pound to 2 decimal places, e.g. 0.25 and all other answers to 0 decimal places, e.g. 2,520.) WATERWAYS CORPORATION Direct Materials Budget First Quarter the month after sale. Accounts receivable on December 31, 2021, totaled $183,600. Direct Materials Direct materials cost 80 cents per pound. Two pounds of direct materials are required to produce each unit. month of purchase, and 50\% is paid in the month after purchase. Accounts Payable on December 31,2021 , totaled $120,595. Direct Labor Labor requires 12 minutes per unit for completion and is paid at a rate of $9 per hour. the first day of the month and repays on the last day of the month. A $510,000 equipment purchase is planned for February. (a) Your answer is correct. For the first quarter of 2022, prepare a sales budget. Your answer is correct. For the first quarter of 2022 , prepare a production budget. (c) For the first quarter of 2022, prepare a direct materials budget. (Round cost per pound to 2 decimal places, e.g. 0.25 and all other answers to 0 decimal places, e.g. 2,520.) WATERWAYS CORPORATION Direct Materials Budget First Quarter