Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

how can I get plus: desired materials in ending inventory? same for less direct materials in beginning inventory Points: 0 of 1 Preston, Inc. manufactures

image text in transcribed

image text in transcribed

image text in transcribed

how can I get plus: desired materials in ending inventory?

same for less direct materials in beginning inventory

Points: 0 of 1 Preston, Inc. manufactures model airplane kits and projects production at 300, 620, 250, and 700 kits for the next four quarters (Click the icon to view the manufacturing information.) Prepare Preston's direct materials budget, direct labor budget, and manufacturing overhead budget for the year. Round the direct labor hours needed for production, budgeted overhead costs, and predetermined overhead allocation rate to two decimal places. Round other amounts to the nearest whole number. Begin by preparing Preston's direct materials budget Preston, Inc. Direct Materials Budget For the Year Ended December 31 First Second Third Fourth Quarter Quarter Quarter Quarter Total Budgeted kits to be produced Direct materials (ounces) per kit Direct materials needed for production Desired direct materials in ending Plus inventory Total direct materials needed Homework. Module 6: Homework 24 (similar to) Part 1 of 3 .31%, 1.77 of 7 points Points: 0 of 1 Save Preston, Inc. manufactures model airplane kits and projects production at 300, 620, 250, and 700 kits for the next four quarters (Click the icon to view the manufacturing information.) Prepare Preston's direct materials budget, direct labor budget, and manufacturing overhead budget for the year. Round the direct labor hours needed for production, budgeted overhead costs, and predetermined overhead allocation rate to two decimal places. Round other amounts to the nearest whole number rol Te Teal Crueu vecerne 51 First Second Third Fourth Quarter Quarter Quarter Quarter Total Budgeted kits to be produced Direct materials (ounces) per kit Direct materials needed for production Desired direct materials in ending Plus inventory Total direct materials needed Less Direct materials in beginning inventory Budgeted purchases of direct materials Direct materials cost per ounce Budgeted cost of direct materials purchases cat mare han c. manufactures model airplane kits and projects production at 300, 620, 250, and 700 kits for the the icon to view the manufacturing information) reston's direct materials budget direct labor budget, and manufacturing overhead budget for the ye r hours needed for production, budgeted overhead costs, and predetermined overhead allocation Jang Daundlathom amounts to the noroctwholo numhar More info Direct materials are five ounces of plastic per kit and the plastic costs $1 per ounce. Indirect materials are considered insignificant and are not included in the budgeting process. Beginning Raw Materials Inventory is 930 ounces, and the company desires to end each quarter with 10% of the materials needed for the next quarter's production. Preston desires a balance of 270 ounces in Raw Materials Inventory at the end of the fourth quarter. Each kit requires 0.75 hours of direct labor at an average cost of $40 per hour. Manufacturing overhead is allocated using direct labor hours as the allocation base Variable overhead is $0.30 per kit, and fixed overhead is $150 per quarter. Print Done ore help. Clear all Che Type here to search o

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Accounting Principles

Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso

12th edition

1119132223, 978-1-119-0944, 1118875052, 978-1119132226, 978-1118875056

Students also viewed these Accounting questions