Feb 7 Hale Specialties manufactures, among other things, woolen company sews the blankets fabric 8-35 Budget schedales fora blankets for the athletic teams of the two local high schools. The and sews on a logo pach purchased thom he icensed log store site. The teamesflt hrom fabric s follows * Broncos with red blankets and the Broncos logo " Rams, with black blankets and the Rams logo lss, the black blanket are slightly larger than the red blankets The budgeted drect-cost ingputs for each product in 2017 are as follows Broncos Blanket 5 yards Rams Blanket yards Red wool fabric Black wool fabric Broncss logo patches Rams logo patches Direct manufacturing labor 4 hours 5 hours nit data pertaining to the direct materials for March 2017 are as follows Actual Beginning Direct Materials Ieventory (31/2017 Rams Blanket Brances Blanket 0 yards 0yards 20 Red wool tabric Black wool fabric Bronces lego patches Rams logo patches 65 1st Ending Direct Materials investory anam Bronces Blanket 30 yards Rams Blanket Red wool fabric Black wool fabric Brancos loge patches ams lego panches 30 Unit cost data for direct-cost inputs pertaining to February 2017 and March 2017 are as follows Black wool tabric (per y Broncos logo patches Rams logo pnches per paich $11 overhead lboth variable and fixed)is allocated to each blanket on the basis of budgeted ng labor -hours per blanket. The budgeted variable manufacturing overhead rate for cturing frect manufacturin March 2017 is $17 per direct manufacturing labor-hour. The budgeted fixed manufacturing overhead for March 2017 is $14,825. Both variable and fixed manufacturing overhead costs are allocated to each unit of finished goods Data relating to finished-goods inventory for March 2017 are as follows Breacos Blankets Rams Blankets Beginning inventory in units Beginning inventory in dollers (cost) Target ending inventory in units 14 $1,960 24 19 $2.945 29 Budgeted sales for March 2017 are 140 units of the Broncos blankets and 195 units of the Rams blankets The budgeted selling prices per unit in March 2017 are $305 for the Brancos blankets and $378 for the Rams Hankets. Assume the folowing in your answer Work-in-process inventories are negligible and ignored Direct materials inventory and finished-goods inventory are costed using the FiFO method. " Unit costs of direct materials purchased and finished goods are constant in March 2017 1 Prepare the follwing budgets for March 2017 Revenues budget Production budget in units e. Direct material usage budget and direct materials purchases budget t Direct manufacturing labor costs budget Manufacturing overhead costs budget Ending inventories budget (direct materials and finished goods Cost of goods sold budget t
