Exerclse 20-16 Monufacturing: Direct moterials, direct labor, and overhead budgets LO P1 Ornamental Sculptures Mifo. manufactures garden sculptures. Each sculpture requires 7 pounds of direct materials at a cost of $4 pe pound and 0.4 direct labor hours at a rate of $14 per hour. Variable manufacturing overhead is charged at a rate of $3 per direct labo hout. Fixed manufacturing overhead is $4,300 per month. The company's policy is to maintain direct materials inventory equal to 20 of the next month's materials requirement. At the end of February the company had 6,080 pounds of direct materiais in inventory. company's production budget reports the following (1) Prepare direct materiais budgets for March and April. (2) Prepare direct labor budgets for March and Aprit. (3) Prepare factory overhead budgets for March and April. Complete this question by entering your answers in the tabs below. Prepare direct materials budgets for March and April. Exerclse 20-16 Manufacturing: Direct materlals, direct labor, and overhead budgets LO P1 Ornamental Sculptures Mfg. manufactures garden sculptures. Each sculpture requires 7 pounds of direct materials at a cost of $4 pe pound and 0.4 direct labor hours at a rate of $14 per hour. Variable manufacturing overhead is charged at a rate of $3 per direct labo hour. Fixed manufacturing overhead is $4,300 per month. The company's policy is to maintain direct materials inventory equal to 209 of the next month's materials requirement. At the end of February the company had 6,080 pounds of direct materials in inventory. Th company's production budget reports the following. (1) Prepare direct materials budgets for March and Aprit. (2) Prepare direct labor budgets for March and April. (3) Prepare factory overhead budgets for March and Aprit. Complete this question by entering your answers in the tabs below. Prepare factory overhead budgets for March and April. Exerclse 20-16 Manufacturing: Direct materials, direct labor, and overhead budgets LO P1 Ornamental Sculptures Mfg. manufactures garden scuiptures. Each sculpture requires 7 pounds of direct materiais at a cost of $4 per pound and 0.4 direct labor hours at a rate of $14 per hour. Variable manufacturing overhead is charged at a rate of $3 per direct labo: hour. Fixed menufacturing overhead is $4,300 per month. The company's policy is to maintain direct materials inventory equal to 208 of the next month's materials requirement. At the end of February the company had 6,080 pounds of direct materials in inventory. The company's production budget reports the following. (1) Prepare direct materials budgets for March and April: (2) Prepare direct labor budgets for March and Aprit. (3) Prepare factory overhead budgets for March and Aprit. Complete this question by entering your answers in the tabs below. Prepare direct labor budgets for March and April. (Round PL hours required per unit' answers to two decimal places.)
