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chapter 6 Problem 3 5 CAN YOU PLEASE WORK THIS PROBLEM WITH WEIGHTED AVERAGE method and NOT,NOT,NOT,FIFO ? BUDGET SCHEDULES FOR A MANUFACTURER Hale spocialties
chapter Problem
CAN YOU PLEASE WORK THIS PROBLEM WITH WEIGHTED AVERAGE method and NOT,NOT,NOT,FIFO
BUDGET SCHEDULES FOR A MANUFACTURER
Hale spocialties manufactures, among other things, woolen blankets for the athkleic teams of the two local high schools. the company sews the blankets from fabric and sews on a logo patch purchased from the licensed logo store site. The teams are as follows:
Broncos, with red blanket and the Broncos logo
Rams, with black blankets and the ram's logo
Also, the black blankets are slightly larger than the red blarkecs. The budgeted directcost inputs for
each product in are as follows:
red wool fabric yards black wool fabrid yards broncos logo patches rams logo patches direct manufacturing labor broncos blanket hours, rams blanket hours.
Data pertaining to the direct materials for March are as follows:
Actual Beqinning Direct Material Inventary, March
Red wool fabric yards, black wool fabric yards, broncos logo patches rams logo patches
Targett Ending Direct Materials invontary, mareh
red wool fabric yards, black wool fabric yards, broncos logo patches rams logo patches
Unit cost data for directcost inputs pertaining to February and March are as follows:
Red wool fabric per yard february $ March $ Black wool Fabric per yard february $ March $ Broncos log patches per patch february $ March $ Rams logo patches per patch February $ March $ Manufacturing labor cost per hour february $ March $
Manufacturing overhead both variable and fixed is alloceted to each blanket on the basis of budgeted
direct mamufacturing laborhours per blanket. The budgeted variable manuflacturing overtead rate for March is $ per direct manufacturing laborhour. The budgeted fixed manufacturing overhead for March is $ Both variable and fixed manufacturing overhead costs are allocated to each unit of finished goods.
of finished goods.
Oata relating to finishedgoods imventery for March are as follous:
Budgeted sales for March are units of the Broncos blankets and units of the Rams
blankets. The budgeted selling prices per unit in March are $ for the Broncos blankets and $
for the Rams blankets. Assume the following in your answer:
Workinprocess inventories are negligible and ignored.
Direct materials inventory and finishedgoods imentory are costed using the WEITGHTED AVERAGE METHOD.
Unit costs of direct materials purchased and finished goods are constant in March
Required
Prepare the following budgets for March :
a revenues budget
b production budet in units
c Direct meterial usage budget and direct materials pauchaces budget
d Direct marufacturing labor costs bulpet
e Marufacturng overhead costs buddet
f Ending imventeries budget direct materials and finished goods
g Cost of goods sold budget
Suppose Hale specialties decides to incerporate continusus improvement into its budgeting
process. Describe tano ansas where it could incorporate continudus improvement into the
budgat schedules in requirement
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