Hello,

I need the following 3 assignments completed.

1.1 Questions A company has the following costs, and only these costs, in November: Monthly Rent on Plant = $900 Manufacturing Overhead = $200 (50% fixed, 50% variable) Direct Materials = $800 Direct Labor = $80 Units produced and sold in November = 100, within the company's relevant range. Units produced and sold in November = 100, within the company's relevant range (1 pt) 8. What is the total fixed cost? $1000 (1 pt) 9. What is the total variable cost? (1 pt) 10. What is the unit fixed cost? (1 pt) 11. What is the unit variable cost? The company is making forecasts for December. Sales and production are anticipated to double. All activity would remain within the relevant range. (1 pt) 12. What is the total projected fixed cost for December? (1 pt) 13. What is the total projected variable cost for December? (1 pt) 14. What is the projected unit fixed cost for December? (1 pt) 15. What is the projected unit variable cost for December? 1.2 Manufacturing Costs - (0 pts) 1. You will give examples for a manufacturer that you choose. If you'd like, you can look up the financial statements for this manufacturer online to review their accounts, but that is not required; nor are dollar amounts required. Use the cost classifications learned this week and the cost glossary to assist you. State the name of manufacturer you will be using in this exercise. If it is not well known, describe what that manufacturer produces. (1 pt) 2. List 2 period expenses that would likely be fixed. (2 pts ) 3. List 1 period expense that would likely be variable. (2 pts) 4. List 2 types of direct materials. (2 pts) 5. List 1 type of direct labor cost. (2 pt) 6. State which specific items would make up a prime cost for this company. You may reuse items from above. (1 pt) 7. List one indirect material cost. (1 pt) 8. List one indirect labor cost. (2 pts) 9. Looking only at the costs you have listed above, state which ones are manufacturing overhead. (1 pt) 10. Looking only at the costs you have listed above, what other cost besides manufacturing overhead is included in conversion costs? (2 pt) 11. List one cost not mentioned above that is manufacturing overhead AND state whether that cost is fixed, variable, or mixed. Explain as needed. (3 pts) 12. Within this company or any manufacturing company, what are the 3 general terms for costs of production? qattachments_109b2146abd8ed6fedb2a6c8d453d782778c414e.xls Select Budgets that make up the Master Budget. The budgets are linked with Excel formulas. Data Year 1 by Quarter 1 2 Budgeted unit sales 42,000 Selling price per unit $27.16 per unit Year 2, 1st 2 Quarters 3 46,500 4 40,000 38,000 Accounts receivable, beginning balance Sales collected in the quarter sales are made Sales collected in the quarter after sales are made Desired ending finished goods inventory is $65,000 75% 25% 30% of the budgeted unit sales of the next quarter Finished goods inventory, beginning 12,000 units Raw materials required to produce one unit 5.00 pounds Desired ending inventory of raw materials is 10% of the next quarter's production needs Raw materials inventory, beginning 46,000 48,000 $0.80 per pound Raw materials purchases are paid 60% in the quarter the purchases are made and 40% in the quarter following purchase Accounts payable for raw materials, beginning balance $81,500 Budgeted labor hours per unit produced 6.00 hours Labor wage rate $16.25 per hour Construct the sales budget 1 Budgeted unit sales Selling price per unit Total sales 42,000 $27.16 $1,140,720 Construct the schedule of expected cash collections Year 1 by Quarter 2 3 46,500 40,000 $27.16 $27.16 $1,262,940 $1,086,400 4 Year 166,500 $27.16 $4,522,140 38,000 $27.16 $1,032,080 Year 1 by Quarter 1 First-quarter sales 2 23,000 pounds Raw material costs Accounts receivable, beginning balance 1 $ 2 65,000 855,540 $ 285,180 Page 1 3 4 Year $ 65,000 $ 1,140,720 Year 2, 1st 2 Quarters 1 2 46,000 48,000 $27.16 $27.16 $1,249,360 $1,303,680 Second-quarter sales qattachments_109b2146abd8ed6fedb2a6c8d453d782778c414e.xls 947,205 $ 315,735 Third-quarter sales 814,800 $ Fourth-quarter sales Total cash collections $ 920,540 $ Construct the production budget 1,045,660 $ 4,329,120 43,950 5.00 219,750 22,275 242,025 23,000 219,025 $0.80 $175,220 4 47,600 5.00 238,000 36,500 274,500 23,800 250,700 0.80 $200,560 Year 175,500 5.00 877,500 36,500 914,000 23,000 891,000 0.80 $712,800 1 Year 1 by Quarter 2 3 81,500 105,132 $ 186,632 $ Construct the direct labor budget 1 Planned Production in Units x Direct Labor Hours per Unit Budgeted Direct Labor Hours x Cost per Direct Labor Hour 774,060 Year 1 by Quarter 2 3 44,550 39,400 5.00 5.00 222,750 197,000 19,700 23,800 242,450 220,800 22,275 19,700 220,175 201,100 0.80 0.80 $176,140 $160,880 Construct the schedule of expected cash payments $ 774,060 $ Year 166,500 21,000 187,500 12,000 175,500 1 Total cash disbursements 1,086,400 4 38,000 21,000 59,000 11,400 47,600 Construct the raw materials purchases budget $ $ 271,600 $ 42,000 13,950 55,950 12,000 43,950 1 Accounts payable, beginning balance First-quarter purchases Second-quarter purchases Third-quarter purchases Fourth-quarter purchases $ 1,130,535 1,262,940 Year 1 by Quarter 2 3 46,500 40,000 12,000 11,400 58,500 51,400 13,950 12,000 44,550 39,400 Budgeted unit sales Add desired finished goods inventory Total needs Less beginning inventory Required production Required production (units) Raw materials required to produce one unit Production needs (pounds) Add desired ending inventory of raw materials (pounds) Total needs (pounds) Less beginning inventory of raw materials (pounds) Raw materials to be purchased Cost of raw materials per pound Cost of raw materials to be purchased 1,232,385 $ 43,950 6.00 263,700 $16.25 70,088 105,684 $ 175,772 $ 70,456 96,528 $ 166,984 $ Year 1 by Quarter 2 3 44,550 39,400 6.00 6.00 267,300 236,400 $16.25 $16.25 Page 2 4 $ $ $ 64,352 $ 120,336 $ Year 81,500 175,220 176,140 160,880 120,336 184,688 $ 714,076 4 47,600 6.00 285,600 $16.25 Year 175,500 6.00 1,053,000 $16.25 Year 2, 1st 2 Quarters 1 2 70,000 80,000 24,000 94,000 21,000 73,000 Year 2, 1st Quarter 1 73,000 5.00 365,000 0.80 Budgeted Direct Labor Cost qattachments_109b2146abd8ed6fedb2a6c8d453d782778c414e.xls $ 4,285,125 $ 4,343,625 $ 3,841,500 $ 4,641,000 $ Page 3 17,111,250 qattachments_109b2146abd8ed6fedb2a6c8d453d782778c414e.xls Required: (12 PTS) 1. Save a copy of this original budget, so you have a basis of comparison. 2. Input the projections below. All the projections should be entered before the questions are answered in #3. 3. There is insufficient info to create a complete cash budget, but the following calculations can be made BEFORE and AFTER the projections Change in Expected Cash Collections for the year based on the projections. $___________indicate increase or decreas Change in Expected Cash Payments (raw mateirals) for the year based on the projections. $___________indicate increase or decreas Change in Budgeted Labor payments for the Year based on the projections. $___________indicate increase or decreas 4. Based on the changes in the above 3 budgets, what is the overall cummulative effect of the projections in dollar terms? Projections: Budgeted Sales increase 5% in Q 1-3, 3% increase in Q4. In the first 2 quarters next year, there is a 1% increase each quarter. A drop in sales price of $0.97 is what is expected to drive up sales units. More aggressive collection efforts are being made to increase the % to 80% in current quarter, 20% next quarter. A better supplier has been found to decrease raw material waste in production by 18%, so less material is needed. But the cost of these better raw materials is expected to increase prices by 12%. The supplier is requestion more prompt payment so that 75% of our direct materials purchases must be paid off in the month of purchase; 25% the Technology has reduced labor hours required per unit of production by 15%. More highly skilled employees are needed to run the high tech equipment. Avg wage rates will increase to $17.85/hour. Only the items stated are changing. The other components of the budgets are unchanged. Page 4 qattachments_109b2146abd8ed6fedb2a6c8d453d782778c414e.xls Page 5 qattachments_109b2146abd8ed6fedb2a6c8d453d782778c414e.xls Page 6 qattachments_109b2146abd8ed6fedb2a6c8d453d782778c414e.xls ctions or decrease or decrease or decrease $___________indicate increase or decrease ase; 25% the following month. Page 7 qattachments_109b2146abd8ed6fedb2a6c8d453d782778c414e.xls Page 8 qattachments_109b2146abd8ed6fedb2a6c8d453d782778c414e.xls Page 9