D E Thunder Creek Company prepares its Manufacturing Overhead Budget. For each direct labor hour, the variable overhead costs are: Indirect Materials $1.00 per DLH; Indirect Labor Cost $1.30 per DLH; Maintenance $1.20 per DLH The Fixed Overhead Costs per month are: Salaries of $40,000, Depreciation $20,000 and Maintenance $10,000. Prepare a Manufacturing Overhead Budget. (When entering answers in the manufacturing overhead budget, use the direct labor budget for your cell references.) Use ROUND function to round the predetermined overhead allocation rate to two decimal places. Manufacturing overhead is allocated using direct labor hours. Budget #5: Manufacturing Overhead Budget Budgeted units to be produced VOH cost per unit Budgeted VOH Budgeted FOH Depreciation Salaries and maintenarice Total budgeted FOH Budgeted manufacturing overhead costs 2 Direct labor hours (DLH) Predetermined overhead allocation rate per DLH 4 2018 Jan Feb Mar Q1 Total 29,700,00 39,600,00 49,500.00 118,800.00 5 Thunder Creek Company uses the first-in, first-out (FIFO) inventory costing method. The Reginnine Finished Goods Inventory is 586 400 consistine of 3.600 units Instructions ENTERANSWERS adyAccessibility Good to go Budget S: Manufacturing Overhead Budget Budgeted units to be produced VOH cost per unit Budgeted VOH Budgeted FOH Depreciation Salaries and maintenance Total budgeted FOR Budgeted manufacturing overhead costs Direct labor hours (DU) Predetermined overhead allocation rate per Du 2018 Jan Feb Mar Q1 Total 29,700.00 39.600.00 49.500.00 118,800.00 Thunder Creek Company uses the first-in, first-out (FIFO) inventory costing method. The Beginning Finished Goods Inventory is 586,400 consisting of 3,600 units. 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 Labor, and Manufacturing Overhead he Use-ROUND function to round the fixed manufacturing overhead cost per unit to two decimal places. Prepare a Cost of Goods Sold Budget. (Hint: Units per month calculated using cell references to both sales budget and production budget.) Cost per unit Clipboard Feet G31 So 64 Alignment D Number Fier-Select- Edong 65 Thunder Creek Company uses the first-, 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 2013 based on projected sales. Dint: in "Cost per unit" table, cell references come from Direct Materials, Derect Labor, and Manufacturing Overhead t 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 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 77 Budget : Cost of Goods Sold Budget Beginning Finished Goods Inventory, 3,600 units. 79 Units produced and sold in 2018- 60 Cost per unit Units per month Total cost of units produced and sold in 2018 63 Total budgeted cost of goods sold Cost per unit 2018 Jan Feb Mar Q1 Total Thunder Creek Company's variable supplies expense per month is $3.00 per unit. The fixed selling and administrative expenses per month consist of Salaries $245,000, Advertising $30,000, and Depreciation: $28,000 Prepare a Selling and Administrative Expense Budget. (When entering answers in the selling and administrative budget, use the sales budget for your cell references.) Q1 Total Budget #7: Selling and Administrative Expense Budget Salaries expense Jan 2018 Feb Mar Advertising expense Depreciation expense 2 Supplies expense B Total budgeted S&A expense copy/paste from the Instructions tab you will be marked wrong.) 4 Prepare a direct materials budget. (39 pts) 39 Thunder Creek Company uses 2 pounds of direct materials for each unit it produces, at a cost of $4.00 per pound. The company begins the year with 9,500 pounds of material in Raw Materials Inventory. Management desires an ending inventory of 25% of next month's materials requirements. (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instructions tab you will be marked wrong.) Prepare a direct labor budget. (20 pts) 20 Thunder Creek Company's workers require 30 minutes of labor to produce each unit of product. The labor cost is $20 per hour. (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instructions tab you will be marked wrong.) 6 Prepare a Manufacturing Overhead Budget (33 pts) 1 Thunder Creek Company prepares its Manufacturing Overhead Budget. For each direct labor hour, the variable overhead costs are: Indirect Materials $1.00 per DLH, Indirect Labor Cost $1.30 per DLH; Maintenance = $1.20 per DLH 2. The Fixed Overhead Costs per month are: Salaries of $40,000, Depreciation $20,000 and Maintenance = $10,000. 3. ROUND the predetermined overhead allocation rate to two decimal places Manufacturing overhead is allocated using direct labor hours. (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the instructions tab you will be marked wrong.) Calculate Cost Per Unit, then prepare a cost of goods sold budget. (20 pts) Thunder Creek Company uses the first-in, first-out (FIFO) inventory costing method The Beginning Finished Goods Inventory is $86.400 consisting of 3,600 units. 1. Begin by calculating the projected cost to produce each unit in 2018 based on projected sales 2. ROUND the foced manufacturing overhead cost per unit to two decimal places (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instructions tab you will be marked wrong) 33 20 8 Prepare a Selling and Administrative Expense Budget (20 pts)) 20 Thunder Creek Company's variable supplies expense per month is $3.00 per unit. The fixed selling and administrative expenses per month consist of Salaries: $245,000, Advertising: $30,000, and Depreciation: $28,000