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Ornamental Sculptures Mfg. manufactures garden sculptures. Each sculpture requires 8 pounds of direct materials at a cost of $3 per pound and 0.4 direct labor hours at a rate of $18 per hour. Variable manufacturing overhead is charged at a rate of $2 per direct labor hour. Fixed manufacturing overhead is $4,700 per month. The company's policy is to maintain direct materials inventory equal to 20% of the next month's materials requirement. At the end of February the company had 4,680 pounds of direct materials in inventory. The company's production budget reports the following. Production Budget Units to be produced May March 4,200 April 5,400 5,700 (1) Prepare direct materials budgets for March and April. (2) Prepare direct labor budgets for March and April. (3) Prepare factory overhead budgets for March and April. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare direct materials budgets for March and April. ORNAMENTAL SCULPTURES MFG. Direct Materials Budget For the Months of March and April March April Budgeted production (units) 4,200 5,400 Materials requirements per unit (lbs.) 8 8 Materials needed for production (lbs.) 33,600 43,200 Budgeted ending inventory (lbs.) 7,656 Total materials requirements (lbs.) 41.256 43,200 Budgeted beginning inventory (lbs.) 4,680 4,680 Materials to be purchased (lbs.) 36,576 38,520 Direct material cost per Ib. $ 3 $ Total budgeted direct materials $ 109,728 $ 115,560 Ornamental Sculptures Mfg. manufactures garden sculptures. Each sculpture requires 8 pounds of direct materials at a cost of $3 per pound and 0.4 direct labor hours at a rate of $18 per hour. Variable manufacturing overhead is charged at a rate of $2 per direct labor hour. Fixed manufacturing overhead is $4,700 per month. The company's policy is to maintain direct materials inventory equal to 20% of the next month's materials requirement. At the end of February the company had 4,680 pounds of direct materials in Inventory. The company's production budget reports the following. Production Budget Units to be produced March 4,200 April 5,400 May 5,700 (1) Prepare direct materials budgets for March and April. (2) Prepare direct labor budgets for March and April. (3) Prepare factory overhead budgets for March and April. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare direct labor budgets for March and April. (Round "DL hours required per unit" answers to two decimal places.) ORNAMENTAL SCULPTURES MFG. Direct Labor Budget For the Months of March and April March April Budgeted production (units) 4,200 5,400 DL hours required per unit 0.40 0.40 Total direct labor hours needed 1,680 2,160 Direct labor rate per hour $ 18 18 $ $ Total budgeted direct labor 30,240 38,880 $ Ornamental Sculptures Mfg. manufactures garden sculptures. Each sculpture requires 8 pounds of direct materials at a cost of $3 per pound and 0.4 direct labor hours at a rate of $18 per hour. Variable manufacturing overhead is charged at a rate of $2 per direct labor hour. Fixed manufacturing overhead is $4,700 per month. The company's policy is to maintain direct materials Inventory equal to 20% of the next month's materials requirement. At the end of February the company had 4,680 pounds of direct materials in inventory. The company's production budget reports the following. Production Budget Units to be produced March 4,200 April 5,400 May 5,700 (1) Prepare direct materials budgets for March and April. (2) Prepare direct labor budgets for March and April. (3) Prepare factory overhead budgets for March and April. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare factory overhead budgets for March and April. ORNAMENTAL SCULPTURES MFG. Factory Overhead Budget For the Months of March and April March Total direct labor hours needed 1,680 VOH rate per DL hour $ 2 Budgeted variable overhead $ 3,360 Budgeted fixed overhead 4,700 Total budgeted factory overhead $ 8,060 April 2,160 $ 2 $ 4,320 4,700 $ 9,020
