Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

ForLilyCompany, units to be produced are4,200in quarter 1 and5,880in quarter 2. It takes1.6hours to make a finished unit, and the expected hourly wage rate is

ForLilyCompany, units to be produced are4,200in quarter 1 and5,880in quarter 2. It takes1.6hours to make a finished unit, and the expected hourly wage rate is $16per hour.

Prepare a direct labor budget by quarters for the 6 months ending June 30, 2022.

LILYCOMPANY

Direct Labor Budget

choose the accounting period

June 30, 2022

For the Six Months Ending June 30, 2022

For the Quarter Ending June 30, 2022

Quarter

1

2

Six Months

select an opening labor budget item

Total Materials Required

Desired Ending Inventory

Direct Labor Cost Per Hour

Total Pounds Required for Production

Units to be Produced

Direct Materials Per Unit

Cost Per Pound

Total Required Direct Labor Hours

Direct Materials Purchases

Total Direct Labor Cost

Direct Labor Time (Hours) Per Unit

Total Cost of Direct Materials Purchases

Beginning Materials Inventory

enter a number of units

enter a number of units

select a labor budget item

Units to be Produced

Direct Materials Per Unit

Total Materials Required

Total Cost of Direct Materials Purchases

Total Direct Labor Cost

Direct Labor Time (Hours) Per Unit

Direct Labor Cost Per Hour

Desired Ending Inventory

Total Required Direct Labor Hours

Total Pounds Required for Production

Cost Per Pound

Direct Materials Purchases

Beginning Materials Inventory

enter a number of hours

enter a number of hours

select a summarizing line for the first part

Total Materials Required

Direct Materials Per Unit

Desired Ending Inventory

Cost Per Pound

Direct Materials Purchases

Total Required Direct Labor Hours

Direct Labor Cost Per Hour

Beginning Materials Inventory

Total Pounds Required for Production

Direct Labor Time (Hours) Per Unit

Total Cost of Direct Materials Purchases

Units to be Produced

Total Direct Labor Cost

enter a total number of hours for the first part

enter a total number of hours for the first part

select a labor budget item

Direct Materials Purchases

Total Pounds Required for Production

Desired Ending Inventory

Cost Per Pound

Beginning Materials Inventory

Total Cost of Direct Materials Purchases

Total Direct Labor Cost

Direct Materials Per Unit

Direct Labor Cost Per Hour

Units to be Produced

Total Required Direct Labor Hours

Direct Labor Time (Hours) Per Unit

Total Materials Required

$

enter a dollar amount

$

enter a dollar amount

select a closing labor budget item

Total Direct Labor Cost

Total Pounds Required for Production

Direct Labor Time (Hours) Per Unit

Cost Per Pound

Beginning Materials Inventory

Desired Ending Inventory

Total Cost of Direct Materials Purchases

Total Required Direct Labor Hours

Direct Labor Cost Per Hour

Units to be Produced

Total Materials Required

Direct Materials Per Unit

Direct Materials Purchases

$

enter a total dollar amount

$

enter a total dollar amount

$

enter a total dollar amount

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

Detecting Accounting Fraud Analysis And Ethics

Authors: Cecil Jackson

1st Edition

0133078604, 9780133078602

More Books

Students also viewed these Accounting questions

Question

What is the cerebrum?

Answered: 1 week ago