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- Chapter 5 II Davis, Managerial Accounting, 3e System Announcements CALCULATOR Your answer is partially correct. Try again. work Joshua Hill, Concord & Hill Fabricators'

- Chapter 5 II Davis, Managerial Accounting, 3e System Announcements CALCULATOR Your answer is partially correct. Try again. work Joshua Hill, Concord & Hill Fabricators' production manager, has just received the company's sales budget for the first quarter: Budgeted unit sales Budgeted ending inventory Total units required Beginning inventory Budgeted production January 12,800 4,992 17,792 3,584 February 24,960 4.480 29.440 4,992 March 22,400 3,712 26,112 4,480 21.632 Quarter 60,160 3.712 63,872 3,584 60,298 Its manufacturing overhead budget for the first quarter is as follows: January February 6.112 $0.70 March .408 $0.70 $0.70 3.785 Quarter 15.072 $0.70 10.550 216.000 226.550 DLH worked VOH per DLH Budgeted VOH Budgeted FOH Total Budgeted MOH Noncash MOH items Depreciation Total Cash MOH Cost 72.000 72.000 76.273 72.000 75.785 19.200 19,200 19,200 $56,586 57,600 $168.950 $55.285 557,079 He also has received the direct materials purchases budget and direct laber budget which were as follows: January February March Quarter April dated reduction B e x N] 0P WI - Chapter 5 HIS U Davis, Managerial Accounting, 3e Help System Announcements He also las receive CALCULATOR PRINTER VERSION ais purus vuyuanu u ULL OF DUTE WINGI Were TOHOWS: WC m BACK N ork February 24,448 March 21,632 X5 X5 122,240 10.816 108,160 896 Budgeted production Standard pounds per unit Production needs Budgeted ending inventory Total DM required (lbs.) Beginning inventory Budgeted purchases (lbs.) Standard cost per pound Budgeted purchases cost January 14,208 x 5 71,040 12,224 83,264 12.096 71,168 $0.40 $28,467 Quarter April 60,288 17,792 X5 X5 301,440 88,960 8.896 310,336 12,096 298,240 $0.40 $119,296 117,056 10.816 133.056 12,224 120,832 $0.40 106,240 $0.40 $48,333 $42,496 s by February 24.448 x 0.25 March 21,632 January 14,208 x 0.25 3,552 Budgeted production Standard DLH per unit Total DLH required Standard wage rate Budgeted DL cost Quarter 00.288 x 0.25 15.022 * $20 $301.440 5,406 x $20 $108,160 $20 $71.040 $122.240 Joshua plans to have 3.584 finished bricks at a cost of $31.360 in inventory at the beginning of the year. The company applies manufacturing overhead based on direct labor hours, and the current predetermined rates are $12 per direct labor hour for foced manufacturing overhead and $0.70 per direct labor hour for variable manufacturing overhead. Prepare Concord & Hill's ending inventory and cost of goods sold budget for the first quarter. Assuming that the company has no beginning and ending WIP inventory. (Round unit cost to 3 decimal places, eg. 053&all other aswers to decimal places, e.g. 5,275.) Direct Materials x N] 0 EX Chapter 5 I U s s Davis, Managerial Accounting, 3e Help System Announcements CALCULATOR PRINTER VERSION decimal places, e.g. 5,275.) BACK NEX Direct Materials Beginning DM Inventory 1433. TOM Purchases DM used in Production - Ending DM Inventory - Finished Goods Inventory Unit Costs Direct Material - TDirect Labor overhead Total Std. Cost per unit Ending F Inventory (units) o e x EX Chapter 5 HIS Davis, Managerial Accounting, 3e Help System Announcements CALCULATOR PRINTER VERSION BACK NEXT Direct Material TDirect Labor TOverhead Total Std. Cost per unit Ending FG Inventory (units) Ending FG Inventory (5) Cost of Goods Sold TBeginning WIP Direct Materials used Direct Labor overhead Total Pilo. Cost Chapter 5 Is J Davis, Managerial Accounting, 3e e p System Announcements CALCULATOR PRINTER VERSION BACK NEXT Cost of Goods Sold Beginning WIP TDirect Materials used Direct Labor ciddi Toverhead Total Mfg. Cost Tending w IcoGM Beginning FG Inventory TE O ventory Budgeted COGS Click if you would like to show Work for this question Open Show Work SHOW SOLUTION SHOW ANSWER Boe x N] - Chapter 5 II Davis, Managerial Accounting, 3e System Announcements CALCULATOR Your answer is partially correct. Try again. work Joshua Hill, Concord & Hill Fabricators' production manager, has just received the company's sales budget for the first quarter: Budgeted unit sales Budgeted ending inventory Total units required Beginning inventory Budgeted production January 12,800 4,992 17,792 3,584 February 24,960 4.480 29.440 4,992 March 22,400 3,712 26,112 4,480 21.632 Quarter 60,160 3.712 63,872 3,584 60,298 Its manufacturing overhead budget for the first quarter is as follows: January February 6.112 $0.70 March .408 $0.70 $0.70 3.785 Quarter 15.072 $0.70 10.550 216.000 226.550 DLH worked VOH per DLH Budgeted VOH Budgeted FOH Total Budgeted MOH Noncash MOH items Depreciation Total Cash MOH Cost 72.000 72.000 76.273 72.000 75.785 19.200 19,200 19,200 $56,586 57,600 $168.950 $55.285 557,079 He also has received the direct materials purchases budget and direct laber budget which were as follows: January February March Quarter April dated reduction B e x N] 0P WI - Chapter 5 HIS U Davis, Managerial Accounting, 3e Help System Announcements He also las receive CALCULATOR PRINTER VERSION ais purus vuyuanu u ULL OF DUTE WINGI Were TOHOWS: WC m BACK N ork February 24,448 March 21,632 X5 X5 122,240 10.816 108,160 896 Budgeted production Standard pounds per unit Production needs Budgeted ending inventory Total DM required (lbs.) Beginning inventory Budgeted purchases (lbs.) Standard cost per pound Budgeted purchases cost January 14,208 x 5 71,040 12,224 83,264 12.096 71,168 $0.40 $28,467 Quarter April 60,288 17,792 X5 X5 301,440 88,960 8.896 310,336 12,096 298,240 $0.40 $119,296 117,056 10.816 133.056 12,224 120,832 $0.40 106,240 $0.40 $48,333 $42,496 s by February 24.448 x 0.25 March 21,632 January 14,208 x 0.25 3,552 Budgeted production Standard DLH per unit Total DLH required Standard wage rate Budgeted DL cost Quarter 00.288 x 0.25 15.022 * $20 $301.440 5,406 x $20 $108,160 $20 $71.040 $122.240 Joshua plans to have 3.584 finished bricks at a cost of $31.360 in inventory at the beginning of the year. The company applies manufacturing overhead based on direct labor hours, and the current predetermined rates are $12 per direct labor hour for foced manufacturing overhead and $0.70 per direct labor hour for variable manufacturing overhead. Prepare Concord & Hill's ending inventory and cost of goods sold budget for the first quarter. Assuming that the company has no beginning and ending WIP inventory. (Round unit cost to 3 decimal places, eg. 053&all other aswers to decimal places, e.g. 5,275.) Direct Materials x N] 0 EX Chapter 5 I U s s Davis, Managerial Accounting, 3e Help System Announcements CALCULATOR PRINTER VERSION decimal places, e.g. 5,275.) BACK NEX Direct Materials Beginning DM Inventory 1433. TOM Purchases DM used in Production - Ending DM Inventory - Finished Goods Inventory Unit Costs Direct Material - TDirect Labor overhead Total Std. Cost per unit Ending F Inventory (units) o e x EX Chapter 5 HIS Davis, Managerial Accounting, 3e Help System Announcements CALCULATOR PRINTER VERSION BACK NEXT Direct Material TDirect Labor TOverhead Total Std. Cost per unit Ending FG Inventory (units) Ending FG Inventory (5) Cost of Goods Sold TBeginning WIP Direct Materials used Direct Labor overhead Total Pilo. Cost Chapter 5 Is J Davis, Managerial Accounting, 3e e p System Announcements CALCULATOR PRINTER VERSION BACK NEXT Cost of Goods Sold Beginning WIP TDirect Materials used Direct Labor ciddi Toverhead Total Mfg. Cost Tending w IcoGM Beginning FG Inventory TE O ventory Budgeted COGS Click if you would like to show Work for this question Open Show Work SHOW SOLUTION SHOW ANSWER Boe x N]