Direct Materials Purchases Budget Tobin's Frozen Pizza Inc. has determined from its production budget the following estimated production volumes for 12" and 16" frozen pizzas for November: Units 12" Pizza 16" Pizza Budgeted production volume 15,200 27,100 There are three direct materials used in producing the two types of pizza. The quantities of direct materials expected to be used for each pizza are as follows: 12" Pizza 16" Pizza Direct materials: Dough 0.90 lb. per unit 1.50 lbs. per unit Tomato 0.60 1.00 Cheese 0.80 1.30 In addition, Tobin's has determined the following information about each material: Dough Tomato Cheese Estimated inventory, November 1 640 lbs. 240 lbs. 380 lbs. Desired inventory, November 30 670 lbs. 230 lbs. 410 lbs. Price per pound $1.20 $2.70 $3.10 Prepare November's direct materials purchases budget for Tobin's Frozen Pizza Inc. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Tobin's Frozen Pizza Inc. Tobin's Frozen Pizza Inc. Direct Materials Purchases Budget For the Month Ending November 30 Direct Materials Direct Materials Dough Tomato Direct Materials Cheese Total Units required for production: 12" pizza 16" pizza Total units available Total units to be purchased Unit Price Total direct materials to be purchased o Professional Labor Cost Budget for a Service Company Lundquist & Fretwell, CPAS, offer three types of services to clients: auditing, tax, and small business accounting. Based on experience and projected growth, the following billable hours have been estimated for the year ending May 31, 2048: Billable Hours Audit Department: Staff 25,000 Partners 6,000 Tax Department: Star 40,000 Partners 8,500 Small Business Accounting Department: Staff 5,000 Partners 500 Based on the data provided above and assuming that the average compensation per hour for staff is $40 and for partners is $175, prepare a professional labor cost budget for each department for Lundquist & Fretwell, CPAs, for the year ending May 31, 20Y8. Lundquist & Fretwell, CPAS Professional Labor Cost Budget For the Year Ending December 31, 2018 Staff Partners Audit Department hours Staff 25,000 Partners 6,000 Tax Department: Staff 40,000 8,500 Partners Small Business Accounting Department: Staff 5,000 Partners 500 Based on the data provided above and assuming that the average compensation per hour for staff is $40 and for partners is $175, prepare a professional labor cost budget for each department for Lundquist & Fretwell, CPAs, for the year ending May 31, 2018. Lundquist & Fretwell, CPAS Professional Labor Cost Budget For the Year Ending December 31, 20Y8 Staff Partners Audit Department hours Tax Department hours Small Business Accounting Department hours Total hours Average compensation per hour Total professional labor cost
