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Clancy Inc. manufactures and sells hoodies. Each hoodie requires 5 metres of fabric. Budgeted production of hoodies (in units) for the next four months is
Clancy Inc. manufactures and sells hoodies. Each hoodie requires 5 metres of fabric. Budgeted production of hoodies (in units) for the next four months is as follows: June July August September Budgeted Production 43,500 37,500 34,500 31,500 Clancy would like to maintain ending fabric inventory equal to 16% of the following month's budgeted production needs. Fabric costs $5.75 per metre. Direct materials inventory as at June 1st was $NIL. Required 1: Determine the following for the quarter (3-months) ending August 31st. Please round to the nearest whole number. Budgeted Ending Direct Materials Inventory as at August 31st (in $): Supporting Work: Budgeted Direct Materials Purchases for the quarter ending August 31st (in $): Supporting Work: Required 2: Each hoodie requires approximately 15 minutes of labour. If workers are paid $25 per hour, what is the budgeted cost of direct labour for the quarter (3-months) ending August 31st? Please round to the nearest whole number Budgeted Direct Labour Cost (in $): Supporting Work: Required 3: Clancy has a variable manufacturing overhead rate of $20 per hoodie. If fixed manufacturing overhead costs are estimated to be $40,000 per month, what is the budgeted cost of total manufacturing overhead for the quarter (3-months) ending August 31st? Please round to the nearest whole number. Budgeted Total Manufacturing Overhead (in $): Supporting Work
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