Finished Goods Inventory Cost per Unit Per Unit Direct Material Direct Labor Variable Overhead TOTAL FG INVENTORY COST PER UNIT Budgeting Info All of this information is already placed into the INPUTS Beg Balance Sheet tabs for you to work from following balance sheet as of the end of the 2 nd quarter on June 30, 2020 Each mask is referred to as a finished good unit Although the company makes both adult and childrens sizes, each mask will be treated the same Budgeted sales in units are as follows July 222,000 masks August 290,000 masks September 216,000 masks October 165,000 masks November 197,000 masks Each unit sells for $7 75 The company sells their masks to merchandisers All sales are on account The companys collection pattern is 70 of sales are collected in the month of sale 30 are collected in the month following the sale The company desires to have finished goods inventory (masks) on hand at the end of each month equal to 20 of the following months budgeted sales in units On June 30, 2020, the company had 44,400 masks on hand 2 yards of fabric are required for each mask produced The company desires to have materials on hand at the end of each month equal to 30 of the following months production needs On June 30, 2020, the company had 14,136 yards of fabric on hand The fabric used in production costs $14 00 per yard The companys payment pattern is 60 of the months purchases are paid for in the month of purchase 30 are paid for in the month following the purchase Each mask requires 3 minutes (0 2 hours) of labor time to make and the hourly employees are paid $18 hour Wages are paid in the month incurred Variable manufacturing overhead is $0 75 per mask Fixed manufacturing overhead is $114,000 per month including $22,000 in depreciation that is not a current cash outflow All cash disbursements for manufacturing overhead are paid in the month incurred Variable selling and administrative expenses are $1 35 per mask sold Fixed selling and administrative expense is $65,000 per month including $9,000 in depreciation that is not a current cash outflow All cash disbursements for selling and administrative costs are paid in the month incurred

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Finished Goods Inventory Cost per Unit
	Per Unit
Direct Material
Direct Labor
Variable Overhead
TOTAL FG INVENTORY COST PER UNIT

Budgeting Info:

All of this information is already placed into the INPUTS & Beg. Balance Sheet tabs for you to work from.

following balance sheet as of the end of the 2^nd quarter on June 30, 2020: Each mask is referred to as a finished good unit. Although the company makes both adult and childrens sizes, each mask will be treated the same.
Budgeted sales in units are as follows:
- July 222,000 masks
- August 290,000 masks
- September 216,000 masks
- October 165,000 masks
- November 197,000 masks
Each unit sells for $7.75.
The company sells their masks to merchandisers. All sales are on account. The companys collection pattern is:
- 70 % of sales are collected in the month of sale
- 30 % are collected in the month following the sale

The company desires to have finished goods inventory (masks) on hand at the end of each month equal to 20% of the following months budgeted sales in units. On June 30, 2020, the company had 44,400 masks on hand.
.2 yards of fabric are required for each mask produced. The company desires to have materials on hand at the end of each month equal to 30% of the following months production needs. On June 30, 2020, the company had 14,136 yards of fabric on hand.
The fabric used in production costs $14.00 per yard. The companys payment pattern is:
- 60% of the months purchases are paid for in the month of purchase
- 30% are paid for in the month following the purchase
Each mask requires 3 minutes (0.2 hours) of labor time to make and the hourly employees are paid $18/hour. Wages are paid in the month incurred.
Variable manufacturing overhead is $0.75 per mask.
Fixed manufacturing overhead is $114,000 per month including $22,000 in depreciation that is not a current cash outflow.
All cash disbursements for manufacturing overhead are paid in the month incurred.
Variable selling and administrative expenses are $1.35 per mask sold.
Fixed selling and administrative expense is $65,000 per month including $9,000 in depreciation that is not a current cash outflow.
All cash disbursements for selling and administrative costs are paid in the month incurred.