Continuation of Jack's Doggie Sneakers The Vibram required for a Jack's Doggie package of sneakers is 25 kilograms for $0.25 per kilograi Jack determines that the beginning inventory for Vibram will be 125,500 kilograms in January, anc inventory will be 10% of the next month's production needs. Use the production budget to calculate how much Vibram will be needed (in kilograms) and the t and March 2022. (Round the Vibram to the nearest whole unit and the cost to the nearest whole dollar) Smith Industries uses a cost system that carries direct materials inventory at a standard cost. The i has established these standards for the cost of one basket (unit): Smith Industries made 3,000 baskets in July and used 15,500 pounds of material to make these ur paid $39,370 for the 15,500 pounds of material. 1. Calculate the direct materials price variance for July, and indicate if the variance is favorable o: unfavorable. 2. Calculate the direct materials quantity variance for July, and indicate if the variance is favorabl unfavorable. 3. Calculate the total spending variance for July, and indicate if the variance is favorable or unfav (Round all solutions to the nearest whole dollar) Case Company made 24,500 units during June, using 32,000 direct labor hours. They expected to the standard. Their employees were paid $15.75 per hour for June. The standard is 15.50 per hour. 1. Calculate the direct labor rate variance for June, and indicate if the variance is favorable or unt 2. Calculate the direct labor hour variance for June, and indicate if th 2 variance is favorable or un 3. Calculate the total direct labor cost variance for June, and indicate if the variance is favorable (Round all solutions to the nearest whole dollar) Libster Hipster Company has a boutique in the local mall. They sell clothing marketed to the youn, consumer. All the sales at the boutique are cash only, and their internet store is credit only. Libster Hipster receives 65% of their sales at the boutique and 35% from internet sales. For the 2022 year, their total sales are January $55,000. February $63,250, March $43,750. April May $56,900, and June $88,800. Their credit sales are collected in the following manner: 85% collected in the month of sale. 10% collected the month after the sale, and 5% collected the second month after the sale. Prepare a cash collection schedule for the second quarter of 2022 and include a total column for (Round to the nearest whole dollar) The Luna Corporation is trying to decide if they should purchase a Truck for hauling material whicl The Truck will require $30,600 of working capital and major maintenance in years 3 , year 5 , and yc The major maintenance will cost $50,000 in years 3 and 5 and $65,000 in years 7 . The truck will increase the net income by $185,750 in years 1 through 4 , and $91,250 in years 5t At the end of year 7 , the company expects to sell the truck for 5% of the cost that they paid for it. Calculate the net present value of the Truck using a 10% rate of return. Show your work and indicate if the Luna Corporation should purchase the Truck. (Round to the nearest dollar) Kilko Company has the following costs associated with its production and sales. Prepare an Absorption Income Statement as of December 31, 2022. (round the cost per product to (2) two decimal places) Kilko Company has the following costs associted with its production and sales. rrepare a variaDe mCome statemtit as v vecember S1, LULL. (round to (2) two decimal places)
