Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Garden Yeti manufactures garden sculptures. Each sculpture requires 8 pounds of direct materials at a cost of $3 per pound and 0.4 direct labor hour

Garden Yeti manufactures garden sculptures. Each sculpture requires 8 pounds of direct materials at a cost of $3 per pound and 0.4 direct labor hour at a rate of $12 per hour. Variable overhead is budgeted at a rate of $2 per direct labor hour. Budgeted fixed overhead is $4,100 per month. The company's policy is to maintain direct materials inventory equal to 40% of the next month's direct materials requirement. At the end of February the company had 10,560 pounds of direct materials in inventory. The company's production budget reports the following. Production Budget Units to produce March April May 3,300 4,600 4,800 (1) Prepare direct materials budgets for March and April. (2) Prepare direct labor budgets for March and April. (3) Prepare factory overhead budgets for March and April. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare direct materials budgets for March and April, Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare direct materials budgets for March and April.. GARDEN YETI Direct Materials Budget March April Units to produce Materials required per unit (pounds) Materials needed for production (pounds) Add: Desired ending materials inventory Total materials required (pounds) Less: Beginning materials inventory Materials to purchase (pounds) Materials cost per pound 3,300 8 4,600 8 26,400 36,800 7,360 7,680 33,760 44,480 5,280 7,360 28,4801 37,120 $ 3 $ 3 $ Cost of direct materials purchases $ 85,440 111,360 Required 1 Required 2 > Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare direct labor budgets for March and April. (Round "DL hours required per unit" answers to two decimal places.) Units to produce GARDEN YETI Direct Labor Budget March 3,300 10 April 4,600 0.50x Direct labor cost per hour Direct labor hours needed Direct labor cost per hour 0.50 1,650 $ 18 $ 180 2,300 $ Cost of direct labor $41,400 29,700 < Required 1 Required 3> Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare factory overhead budgets for March and April. GARDEN YETI Factory Overhead Budget Direct labor hours needed Budgeted variable overhead March April $ 0 $ 0 Budgeted total factory overhead $ 0 $ 0 < Required 2 Required 3>

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

More Books

Students also viewed these Accounting questions

Question

List out some inventory management techniques.

Answered: 1 week ago