Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Dazzling Corporation manufactures and sells two types of decorative lamps, Knox and Ayer. The following data are available for the year 2021. (Click the

image text in transcribed

Dazzling Corporation manufactures and sells two types of decorative lamps, Knox and Ayer. The following data are available for the year 2021. (Click the icon to view the information.) Calculate (1) the budgeted unit costs of ending finished-goods inventory on December312021 (label it Schedule 6A) and (2) the ending inventories budget on December312021 (label it Schedule 6B). Dazzling Corporation manufactures and sells two types of decorative lamps, Knox and Ayer. The following data are available for the year 2021. (Click the icon to view the information.) Calculate (1) the budgeted unit costs of ending finished-goods inventory on December312021 (label it Schedule 6A) and (2) the ending inventories budget on December3120. (1). Calculate the budgeted unit costs of ending finished-goods inventory on December 31, 2021 (label it Schedule 6A). (Round labour to two decimal places, and machine setup overhead to three decimal places.) Schedule 6A: Unit Costs of Ending Finished-Goods Inventory Metal Fabric Direct manufacturing labour Machine setup overhead Total Information Product December 31, 2021 Metal Knox Product Knox Cost per unit of input Input per unit of output Total Ayer Input per unit of output Target ending inventory in units 1,800 Ayer 800 Fabric Direct manufacturing labour Machine setup overhead Total Direct materials Total Metal $ 2 per kilogram (same as in 2020) kg kg Fabric $ m m hrs. hrs. Direct manufacturing labour $ Machine setup overhead 3 per metre (same as in 2020) 14 per hour $ 150 per hour hrs. hrs. Content of Each Product Unit Direct materials Metal (2). Calculate the ending inventories budget on December 31, 2021 (label it Schedule 6B). (Enter cost per unit amounts to the r Schedule 6B: Ending Inventories Budget December 31, 2021 Direct materials Metal Quantity Cost per unit Total unit of input output Total output Total kg kg m m hrs. hrs. hrs. hrs. (2). Calculate the ending inventories budget on December 31, 2021 (label it Schedule 6B). (Enter cost per unit amounts to the nearest cent.) Schedule 6B: Ending Inventories Budget December 31, 2021 Product Fabric Knox Ayer Finished goods Metal Fabric 1 kilograms 2 kilograms Knox 1 metre 3 metres Ayer Direct manufacturing labour Machine setup overhead 0.2 hours 0.3 hours Total ending inventory 0.02 hours 0.06 hours Direct Materials Quantity Cost per unit Total

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting

Authors: James D. Stice, Earl K. Stice, Fred Skousen

17th Edition

032459237X, 978-0324592375

More Books

Students also viewed these Accounting questions

Question

Be honest, starting with your application and rsum.

Answered: 1 week ago