FIND THE COST OF GOODS MANUFACTURED BUDGET

Directed Materials Used

Direct Materials Inventory, Beginning

Purchase

Cost of Direct Materials

Less Direct Materials Available for Use

Cost of Direct Materials Used

Direct Labor Costs

Overhead Costs

Total Manufacturing Costs

Work in Process Inventory, Beginning*

Less Work in Process Inventory, Ending*

Cost of Goods Manufactured

Manufactured Cost per Unit = Cost of Goods

Manufactured/Units Produced

FOOTNOTE:

*It is the companys policy to have no units in the process at the end of the year.

Sales Budget YEAR Particulars Sales in Units Selling Price Total Sales 28,000175,000 $1 $40,000 $80,000 $27,000 $28,000 $175,000 27,000 $1 40,000 80,000 $1 $1 $1 Production Budget YEAR Particulars Sales in Units ADD: Desired Ending Units New Total LESS: Desired Opening Units Total Product Units 40,000 3,000 43,000 80,000 2,700 82,700 27,000 2,800 29,800 2,700 27,100 28,000175,000 6,000 34,000181,000 4,000 31,200 177,000 6,000 4,000 3,00 2,800 39,000 79,700 Direct Materials Purchase Budget Particulars Total Production Units x 20 oz per Unit New Total ADD: Desired oz of EDMI (20% of NQ) New Total LESS: Desired oz of BDMI Total oz of DM to be Purachsed x $.01 Total Cost of DMP YEAR 39,000 79,700 27,100 31,200177,000 780,0001,594,000542,000624,0003,540,000 240,000240,000 864,0003,780,000 156,000 3,624,000 0.01 36240 128,000 908,000 156,000 752,000 0.01 7520 0.01 0.01 0.01 Direct Labor Budget YEAR 31,200177,000 Particulars Total Production Units x Direct Labor Hours Per Unit Total Direct Labor Hours x Direct Labor Cost Per Hour Total Direct Labor Cost 39,000 0.001 79,700 0.001 79.7 $8 $638 27,100 0.001 27.1 S8 $217 0.001 31.2 S8 0.001 $8 $312 S8 $250 $1,416