Homework: Ch 6 Quiz Question 1, E6-29 (simil... Part 1 of 6 HW Score: 0%, 0 of 25 points O Points: 0 of 5 : 5 Save Wickham Company makes and sells artistic frames for pictures of weddings, graduations, and other special events. Ron Hart, the controller, is responsible for preparing Wickham's master budget and has accumulated the following information for 2021: ( (Click the icon to view some of the financial Information.) (Click the icon to view additional information.) ) Read the requirements Requirement 1. Prepare a production budget and a direct manufacturing labor cost budget for Wickham Company by month and for the first quarter of 2021. You may combine both budgets in one schedule. The direct manufacturing labor cost budget should include labor-hours and show the details for each labor cost category. Start the schedule by preparing the production budget and calculating the total hours of direct manufacturing labor time needed for the three months in the quarter, then calculate the values for the quarter. Finish by preparing the bottom portion of the schedule the direct manufacturing labor by month, then quarter. (Enter the direct manufacturing labor-hours per unit to one decimal place, X.X. Do not round interim calculations, and then enter all amounts in the budget [other than the direct manufacturing labor-hours per unit to the nearest whole number.) Wickham Company - X Data table Budget for Production and Direct Manufacturing Labor For the Quarter Ended March 31, 2021 January February March 2021 Budgeted sales (units) January February March April May Add target ending finished goods inventory (units) Estimated sales in units 12,000 16,000 5,000 7.000 7.000 Total requirements (units) Selling price $ 56.00 S 50.50 $ 50.50 $ 50.50 $ 50.50 Deduct beginning finished goods inventory (units) Direct manufacturing labor-hours per unit - 3.0 3.0 2.5 2.5 2.5 Units to be produced Wage per direct manufacturing labor-hour $ 12.00 S 12.00 $ 12.00 $ 14.00 $ 14.00 Direct manufacturing labor-hours per unit Total hours of direct manufacturing labor time needed Print Done Help me solve this Etext pages Get more help. Clear all Check answer E Homework: Ch 6 Quiz Question 1, E6-29 (simil... Part 1 of 6 HW Score: 0%, 0 of 25 points O Points: 0 of 5 Save Wickham Company makes and sells artistic frames for pictures of weddings, graduations, and other special events. Ron Hart, the controller, is responsible for preparing Wickham's master budget and has accumulated the following information for 2021: ( (Click the icon to view some of the financial information.) A (Click the icon to view additional information.) Read the requirements, Requirement 1. Prepare a production budget and a direct manufacturing labor cost budget for Wickham Company by month and for the first quarter of 2021. You may combine both budgets in one schedule. The direct manufacturing labor cost budget should include labor-hours and show the details for each labor cost category. Start the schedule by preparing the production budget and calculating the total hours of direct manufacturing labor time needed for the three months in the quarter, then calculate the values for the quarter. Finish by preparing the bottom portion of the schedule for the direct manufacturing labor by month, then quarter. (Enter the direct manufacturing labor-hours per unit to one decimal place, X.X. Do not round interim calculations, and then enter all amounts in the budget (other than the direct manufacturing labor-hours per unit) to the nearest whole number.) Wickham Company More info Budget for Production and Direct Manufacturing Labor For the Quarter Ended March 31, 2021 In addition to wages, direct manufacturing labor-related costs include pension January February March contributions of $0.50 per hour, worker's compensation insurance of $0.10 per Budgeted sales (units) hour, employee medical insurance of $0.40 per hour, and Social Security taxes. Assume that as of January 1, 2021, the Social Security tax rates are 7.5% for Add target ending finished goods inventory (units) employers and 7.5% for employees. The cost of employee benefils paid by Total requirements (units) Wickham on its direct manufacturing employees is treated as a direct manufacturing labor cost. Deduct beginning finished goods inventory (units) Wickham has a labor contract that calls for a wage increase to $14 per hour on Units to be produced April 1, 2021. New labor-saving machinery has been installed and will be fully operational by March 1, 2021. Wickham expects to have 18,500 frames on hand at Direct manufacturing labor-hours per unit December 31, 2020, and it has a policy of carrying an end-of-month inventory of 100% of the following month's sales plus 50% of the second following month's Total hours of direct manufacturing labor time needed sales. Print Done Help me solve this Etext pages Get more help. Clear all Check answer = Homework: Ch 6 Quiz 6 Question 1, E6-29 (simil... Part 1 of 6 > HW Score: 0%, 0 of 25 points , O Points: 0 of 5 Save Wickham Company makes and sells artistic frames for pictures of weddings, graduations, and other special events. Ron Hart, the controller, is responsible for preparing Wickham's master budget and has accumulated the following information for 2021: (Click the icon to view some of the financial information.) ) A (Click the icon to view additional information.) Read the requirements Requirement 1. Prepare a production budget and a direct manulacturing labor cost budget for Wickham Company by month and for the first quarter of 2021. You may combine both budgets in one schedule. The direct manulacturing labor cost budget should include labor-hours and show the details for each labor cost category. Start the schedule by preparing the production budget and calculating the total hours of direct manufacturing labor lime needed for the three months in the quarter, then calculate the values for the quarter. Finish by preparing the bottom portion of the schedule for the direct manufacturing labor by month, then quarter. (Enter the direct manufacturing labor-hours per unit to one decimal place, X.X. Do not round interim calculations, and then enter all amounts in the budget (other than the , -, direct manufacturing labor-hours per unit) to the nearest whole number.) Wickham Company X Requirements Budget for Production and Direct Manufacturing Labor For the Quarter Ended March 31, 2021 January February March Budgeted sales (units) Add target ending finished goods inventory (units) Total requirements (units) Deduct beginning finished goods inventory (units) Units to be produced 1. Prepare a production budget and a direct manufacturing labor cost budget for Wickham Company by month and for the first quarter of 2021. You may combine both budgets in one schedule. The direct manufacturing labor cost budget should include labor-hours and show the details for each labor cost category 2. What actions has the budget process prompted Wickham's management to take? 3. How might Wickham's managers use the budget developed in requirement 1 to better manage the company Direct manufacturing labor-hours per unit Total hours of direct manufacturing labor time needed Print Done Help me solve this Etext pages Get more help Clear all Check answer Homework: Ch 6 Quiz Question 1, E6-29 (simil... Part 1 of 6 HW Score: 0%, 0 of 25 points O Points: 0 of 5 : 5 Save Wickham Company makes and sells artistic frames for pictures of weddings, graduations, and other special events. Ron Hart, the controller, is responsible for preparing Wickham's master budget and has accumulated the following information for 2021: ( (Click the icon to view some of the financial Information.) (Click the icon to view additional information.) ) Read the requirements Requirement 1. Prepare a production budget and a direct manufacturing labor cost budget for Wickham Company by month and for the first quarter of 2021. You may combine both budgets in one schedule. The direct manufacturing labor cost budget should include labor-hours and show the details for each labor cost category. Start the schedule by preparing the production budget and calculating the total hours of direct manufacturing labor time needed for the three months in the quarter, then calculate the values for the quarter. Finish by preparing the bottom portion of the schedule the direct manufacturing labor by month, then quarter. (Enter the direct manufacturing labor-hours per unit to one decimal place, X.X. Do not round interim calculations, and then enter all amounts in the budget [other than the direct manufacturing labor-hours per unit to the nearest whole number.) Wickham Company - X Data table Budget for Production and Direct Manufacturing Labor For the Quarter Ended March 31, 2021 January February March 2021 Budgeted sales (units) January February March April May Add target ending finished goods inventory (units) Estimated sales in units 12,000 16,000 5,000 7.000 7.000 Total requirements (units) Selling price $ 56.00 S 50.50 $ 50.50 $ 50.50 $ 50.50 Deduct beginning finished goods inventory (units) Direct manufacturing labor-hours per unit - 3.0 3.0 2.5 2.5 2.5 Units to be produced Wage per direct manufacturing labor-hour $ 12.00 S 12.00 $ 12.00 $ 14.00 $ 14.00 Direct manufacturing labor-hours per unit Total hours of direct manufacturing labor time needed Print Done Help me solve this Etext pages Get more help. Clear all Check answer E Homework: Ch 6 Quiz Question 1, E6-29 (simil... Part 1 of 6 HW Score: 0%, 0 of 25 points O Points: 0 of 5 Save Wickham Company makes and sells artistic frames for pictures of weddings, graduations, and other special events. Ron Hart, the controller, is responsible for preparing Wickham's master budget and has accumulated the following information for 2021: ( (Click the icon to view some of the financial information.) A (Click the icon to view additional information.) Read the requirements, Requirement 1. Prepare a production budget and a direct manufacturing labor cost budget for Wickham Company by month and for the first quarter of 2021. You may combine both budgets in one schedule. The direct manufacturing labor cost budget should include labor-hours and show the details for each labor cost category. Start the schedule by preparing the production budget and calculating the total hours of direct manufacturing labor time needed for the three months in the quarter, then calculate the values for the quarter. Finish by preparing the bottom portion of the schedule for the direct manufacturing labor by month, then quarter. (Enter the direct manufacturing labor-hours per unit to one decimal place, X.X. Do not round interim calculations, and then enter all amounts in the budget (other than the direct manufacturing labor-hours per unit) to the nearest whole number.) Wickham Company More info Budget for Production and Direct Manufacturing Labor For the Quarter Ended March 31, 2021 In addition to wages, direct manufacturing labor-related costs include pension January February March contributions of $0.50 per hour, worker's compensation insurance of $0.10 per Budgeted sales (units) hour, employee medical insurance of $0.40 per hour, and Social Security taxes. Assume that as of January 1, 2021, the Social Security tax rates are 7.5% for Add target ending finished goods inventory (units) employers and 7.5% for employees. The cost of employee benefils paid by Total requirements (units) Wickham on its direct manufacturing employees is treated as a direct manufacturing labor cost. Deduct beginning finished goods inventory (units) Wickham has a labor contract that calls for a wage increase to $14 per hour on Units to be produced April 1, 2021. New labor-saving machinery has been installed and will be fully operational by March 1, 2021. Wickham expects to have 18,500 frames on hand at Direct manufacturing labor-hours per unit December 31, 2020, and it has a policy of carrying an end-of-month inventory of 100% of the following month's sales plus 50% of the second following month's Total hours of direct manufacturing labor time needed sales. Print Done Help me solve this Etext pages Get more help. Clear all Check answer = Homework: Ch 6 Quiz 6 Question 1, E6-29 (simil... Part 1 of 6 > HW Score: 0%, 0 of 25 points , O Points: 0 of 5 Save Wickham Company makes and sells artistic frames for pictures of weddings, graduations, and other special events. Ron Hart, the controller, is responsible for preparing Wickham's master budget and has accumulated the following information for 2021: (Click the icon to view some of the financial information.) ) A (Click the icon to view additional information.) Read the requirements Requirement 1. Prepare a production budget and a direct manulacturing labor cost budget for Wickham Company by month and for the first quarter of 2021. You may combine both budgets in one schedule. The direct manulacturing labor cost budget should include labor-hours and show the details for each labor cost category. Start the schedule by preparing the production budget and calculating the total hours of direct manufacturing labor lime needed for the three months in the quarter, then calculate the values for the quarter. Finish by preparing the bottom portion of the schedule for the direct manufacturing labor by month, then quarter. (Enter the direct manufacturing labor-hours per unit to one decimal place, X.X. Do not round interim calculations, and then enter all amounts in the budget (other than the , -, direct manufacturing labor-hours per unit) to the nearest whole number.) Wickham Company X Requirements Budget for Production and Direct Manufacturing Labor For the Quarter Ended March 31, 2021 January February March Budgeted sales (units) Add target ending finished goods inventory (units) Total requirements (units) Deduct beginning finished goods inventory (units) Units to be produced 1. Prepare a production budget and a direct manufacturing labor cost budget for Wickham Company by month and for the first quarter of 2021. You may combine both budgets in one schedule. The direct manufacturing labor cost budget should include labor-hours and show the details for each labor cost category 2. What actions has the budget process prompted Wickham's management to take? 3. How might Wickham's managers use the budget developed in requirement 1 to better manage the company Direct manufacturing labor-hours per unit Total hours of direct manufacturing labor time needed Print Done Help me solve this Etext pages Get more help Clear all Check