Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Dreamworks Ltd. produces dream spheres. Budgeted production for 2021 and the beginning and ending inventory data are as follows: Quarter 1 (Jan - Mar) 30,300

image text in transcribedimage text in transcribed

Dreamworks Ltd. produces dream spheres. Budgeted production for 2021 and the beginning and ending inventory data are as follows: Quarter 1 (Jan - Mar) 30,300 2021 2 3 (Apr - Jun) (Jul - Sep) 33,500 37,700 4 (Oct - Dec) 35,100 2022 1 (Jan - Mar) 36,100 Estimated production (units) Jan 01, 2021 beginning crystal inventory (Kgs) 3,000 The spheres are formed, polished and sealed. Each sphere requires 3 kilograms of crystal material that costs $5.00 per kilogram. The company wants to have crystal material on hand at the end of the first quarter 4,000 kg, at the end of the second quarter 4,200 kg, at the end of the third quarter 4,300 kg and at the end of the fourth quarter 4,100 kg. Each sphere requires 30 minutes of direct labour at a rate of $20.00 per hour. Required: a) What is the budgeted cost of direct material for the fourth quarter of 2021. (show your work in the space below). (4 marks) b) What is the budgeted cost of direct labour for the fourth quarter of 2021. (show your work in the space below). (2 marks) Paragraph BI UA ... lili ill Lato (Recom... 19px... v ER c Parta) Part b)

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

Horngrens Accounting Volume 1

Authors: Tracie Miller Nobles, Brenda Mattison, Ella Mae Matsumura, Carol Meissner, JoAnn Johnston, Peter Norwood

11th Canadian Edition

0135359708, 9780135359709

More Books

Students also viewed these Accounting questions

Question

understand the limitations of classic models of job design.

Answered: 1 week ago