D E G 51 45 Thunder Creek Company prepares its Manufacturing Overhead Budget. For each direct labor hour, the variable overhead costs are: 46 Indirect Materials $1.00 per DLH; Indirect Labor Cost $1.30 per DLH: Maintenance = $1.20 per DLH 47 The Fixed Overhead Costs per month are: Salaries of $40,000, Depreciation $20,000 and Maintenance $10,000, 48 Prepare a Manufacturing Overhead Budget. (When entering answers in the manufacturing overhead budget, use the direct labor budget for your cell references.) 49 Use "-ROUND" function to round the predetermined overhead allocation rate to two decimal places. Manufacturing overhead is allocated using direct labor hours. 50 2018 52 Budget 15: Manufacturing Overhead Budget Jan Feb Mar Q1 Total 53 Budgeted units to be produced 54 VOH cost per unit 55 Budgeted VOH 56 Budgeted FOH 57 Depreciation 58 Salaries and maintenance 59 Total budgeted FOH 60 Dudented manufacturing overhead costs 61 62 Direct labor hours (DLHO) 63 Predetermined overhead allocation rate per DLH 64 65 Thunder Creek Company uses the first-in, first-out (FIFO) Inventory costing method. 66 The Beginning Finished Goods inventory is 586,400 consisting of 3,600 units. 67 begin by calculating the projected cost to produce each unit in 2018 based on projected sales. (Hint: In "Cost per unit" table, cell references come from Direct Materials, Direct 61 UROUND'function to round the feed manufacturing overhead cost per unit to two decimal places. 69 Prepares Cost of Goods Sold Budget. (Hint: Units per month calculated using cell references to both sales budget and production budget.) 70 Cost per unit 71 Direct material cost per unit 72 Direct labor cost per unit 73 Manufacturing overhead cost per unit 74 Total projected manufacturing cost per unit 75 76 2018 77 Budget Cost of Goods Sold Budget Jan Feb Mar Q1 Total 78 Beginning Finished Goods Inventory. 1.600 units. 79 Units produced and sold in 2018 BO Cost per unit B1 Units per month 12 Total cost of units produced and sold in 2013 13 Total budgeted cost of goods sold Office Update To keep up-to-date with security updates, fixes, and improvements, choose Check for Updates. E40 fx D E G A 68 Use ROUND'function to round the fixed manufacturing overhead cost per unit to two decimal places. 69 Prepare a cost of Goods Sold Budget. (Hint: Units per month calculated using cell references to both sales budget and production budget.) 70 Cost per unit 71 Direct material cost per unit 72 Direct labor cost per unit 73 Manufacturing overhead cost per unit 74 Total projected manufacturing cost per unit 75 75 2018 77 Budget: Cost of Goods Sold Budget Jan Feb Mar Q1 Total 73 Beginning Finished Goods Inventory. 3.600 units. 79 Units produced and sold in 2018 BO Cast per unit 81 Units per month B2 Total cost of units produced and sold in 2018 Total budgeted cost of goods sold 84 Thunder Creek Company variable supples expense per month is $3.00 per unit. The fixed selling and administrative expenses per month consist of Salones: $245,000 85 Advertising: 530,000 and Depreciation: $28,000 85 Prepare a Seling and Administrative Expense Budget. (When entering answers in the seling and administrative budget, use the sales budget for your cell references.) 87 2018 18 Budget 1: Selling and Administrative Expense Budget Jan Feb Mar Q1 Total 89 Salaries pense 50 Advertising expense 91 Depreciation expense 92 Supplies expense 93 Total budgeted S&A expense 96 96 97 38 99 100 101 102 Office Update To keep up-to-date with security updates, fixes, and improvements, E40 x fx D F H 1 Thunder Creek Company expects sales of 18,000 units in Manuary 2018, 24,000 units in February 30,000 units in March, 34,000 in April, and 36,000 in May. The sales price is $34 per unit. 2 Prepare a budget 2018 4 Budget: Sales Budget Jan Feb Mar Q1 Total April May 5 Budgeted units to be sold 18,000 24,000 30,000 72,000 34,000 36,000 & Sales price per unit 34 34 34 34 34 34 7 Total Sales $ 612,000 816,000 $ 1,020,000 2,448,000 $ 1,156,000 1,224,000 3 Thunder Crack want to finish each month with 20% of next month's sales in unit: + 19 Prepare a production budget. (When entering answers in the production budget, use the sales budget for your cell references. Enter all values as positive without a minus sign-in row 18.) 11 Hint: Begining inventary for the period is equal to the ending Inventory of the previous period. 12 2017 2018 14 Bin Production et Dec Jan Feb Mar Q1 Total April May 15 hunted to be sold 18,000 24,000 30,000 22.000 34,000 36,000 16 Plus Delted unitsin ending inventory 4,800 6,000 6,800 6,800 7,200 13 Total united 22,800 30,000 78,000 78,800 41,200 Unin bennington 35,000 4,800 3,600 3,600 6.800 10 Dodged units to be produce 19,200 25,200 75,200 75,200 34.400 Thunder Cret Company pounds of direct materials for each unit it produces at a cost of 54.00 per pound. The company begins the year with 9,500 pounds of material in Raw Materials 21. Management story of 25% of month's materials requirements 12 Preparat Materials Budget. When enteringswers in the direct materials budget, use the production budget for your cell references. Enter all values as positive without a minus sign-in row 31.) 13 2018 25 Direct Mars Budget Jan Feb Mar Q1 Total April 26ted units to be produced 19,200 25.200 30.800 75,200 34,400 2 w material pound 2.00 2.00 2.00 2.00 2.00 28 Directed for production 38.400 50.400 61.600 150.400 68.800 25 Flux Desired direct materialin ending investory pounds! 12.600 15,400 17200 17,200 10 Total direct mais needed 51.000 65,800 11. Direct masin beginning intory found 28 800 167,500 9,500 12,600 32 Bule purchase of direct maids 15.400 9.500 41,500 53,200 11 Draco per pound 63.400 158,100 4.00 4.00 4,00 4.00 166,000 212,800 253,500 15 632.400 36 Thunder Company wore 30 soboto produce och unit of product. The labor cost is $20 per hour 12 Presa Director Buttering in the direct labout the direct materials budget for your careerences 10 29 de Dirnd Labout 2018 40 taunts to be proud lan Feb M 01 Total 19,200 25.200 Instructions ENTERANSWERS + 17.00 167,600 9,500 158,100 4.00 632,400 + 25 Direct materials needed for production 29 Plus Desired direct materials in ending Inventory (pounds) 12,600 15,400 17,200 30 Total direct materials needed 51,000 65,800 78,800 31 Lew: Direct materials in beginning inventory (pounds) 9,500 12,600 15,400 32 Budpeted purchase of direct materials 41,500 53,200 63,400 4,00 33 Direct material cost per pound 4.00 4.00 34 Budgeted cost of direct materials purchases $ 166,000 212,800 $ 253,600S 35 36 Thunder Creek Company's workers require 30 minutes of labor to produce each unit of product. The labor cost is $20 per hour 17 Prepare a Direct Labor Budget. (When entering answers in the direct labor budget, use the direct materials budget for your cell references 38 2018 39 Budget: Direct Labor Budget Jan Feb Mar 40 Budgeted units to be produced 19,200 25,200 41 Direct labor hours per unit 0.10 0.10 42 Direct labor hours ended for production 1,920 2,520 43 Direct labor cost per hour 20 20 44 Builted direct labor cost 5 38,400 $ 50,400 45 91 Total Thunder Creek Company prepares its Manufacturing Overhead Budget. For each direct labor hour, the variable overhead costs are: Indirect Mata $1.00 per DLE Indirect Labor Cost $1.30 per DLH: Maintenance $1.20 per OLH 47 The Federal Cos per month re: Salaries of $40,000, Depreciation $20,000 and Maintenance $10,000 4 Para Manufacturing Overhead Budget (When entering anwers in the manufacturing overhead budget, use the direct labor budget for your cell references.) UWOUD'function to round the predetermined overhead allocation rate to two decimal places Manufacturing overhead is allocated using direct labor hours. 10 51 2018 But Mantturing Overhead Budget Jan Feb Mar Q1 Total 51 Budad unistatud 14 Voit 55 Red OH 55 Sated On 53 ber 58 55 Tubuh 60 Budonanta.com 51 Dohon 63 Premier The Company was the first-outpulventory costing method Instructions ENTERANSWERS