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omiltakeAssignment/takeAssignment Main doinvokertakeAssignmentSessionLocator Binprogress=false eBook Calculator Operating Budget, Comprehensive Analysis Allison Manufacturing produces a subassembly used in the production of jet aircraft engines. The assembly is sold to engine manufacturers and aircraft maintenance facilities. Projected sales in units for the coming 5 months follow: January 40,000 February 50,000 March 60,000 April 60,000 May 62,000 The following data pertain to production policies and manufacturing specifications followed by Allison Manufacturing Finished goods inventory on January 1 is 32,000 units, each costing $166.06. The desired ending inventory for each month is 80% of the next month's sales. b. The data on materials used are as follows: Direct Material PerUnit Usage DM Unit Cost (S) Metal 10 lbs. Components Inventory policy dictates that sufficient materials be on hand at the end of the month to produce so% of the next month's production needs. This is exactly the amount of material on hand on December 31 of the prior year c. The direct laborused per unit of output is 3 hours. The average direct labor cost per hour is $14,25 d. Overhead each month is estimated using a flexible budget formula. (Note: Activity is measured in direct labor hours.) Fixed Cost Variable Cost Component (5) Component (5) Supplies 1.00 Power 0.50 Check My Work Next X + ow.com/ilm/takeAssignment rakeAssignment Main.do?invoker=&takeAssignmentSessionLocator=&inprogress=false eBook Inventory policy dictates that sufficient materials be on hand at the end of the month to produce 50% of the next month's production needs. This is exactly the amount of material on hand on December 31 of the prior year The direct labor used per unit of output is 3 hours. The average direct labor cost per hour is $14.25. d. Overhead each month is estimated using a flexible budget formula. (Note: Activity is measured in direct labor hours.) Fixed Cost Variable Cost Component (5) Component (5) Supplies 1.00 Power 0.50 Maintenance 30,000 0.40 Supervision 16,000 Depreciation 200,000 Taxes 12,000 Other 80,000 0.50 . Monthly selling and administrative expenses are also estimated using a flexible budgeting formula. (Note: Activity is measured in units sold.) Fixed Variable Costs (5) Costs (5) Salaries 50,000 Commissions 2.00 Depreciation 40,000 Shipping 1.00 Other 20,000 0.60 The unit selling price of the subassembly is $205. 9. All sales and purchases are for cash. The cash balance on January 1 equals $400,000. The firm requires a minimum ending balance of $50,000. If the firm develops a cash shortage Check My Work Next + enow.com/ilm/takeAssignment/takeAssignment Main doinvokertakassignmentSession Locator &inprogress-false elok Calculator Salaries 50,000 Commissions 2.00 Depreciation 40,000 Shipping 1.00 Other 20,000 0.60 f. The unit selling price of the subassembly is $205 9. All sales and purchases are for cash. The cash balance on January 1 equals $400,000. The firm requires a minimum ending balance of $50,000. If the firm develops a cash shortage by the end of the month, sufficient cash is borrowed to cover the shortage. Any cash borrowed is repaid at the end of the quarter, as is the interest due (cash borrowed at the end of the quarter is repaid at the end of the following quarter). The interest rate is 12% per annum. No money is owed at the beginning of January Required: 1. Prepare a monthly operating budget for the first quarter with the following schedules. (Note: Assume that there is no change in work in process inventories.) a. Schedule 1: Sales Budget. Do not include a multiplication symbol as part of your answer. Allison Manufacturing Sales Budget For the Quarter Ended March 31 January February March Total Units 40.000 50,000 60,000 150,000 205 205 205 Selling price Assignment/takeAssignment Main.do?invoker=&takeAssignmentSessionlocator=&inprogress false eBlock Calculator j. Schedule 10: Cash Budget. If an amount is zero, enter "o". Use a minus sign to enter a negative amount. Allison Manufacturing Cash Budget For the Quarter Ended March 31 January February March Total Beginning balance S 400.000 50.000 324.900 X 400,000 Cash receipts 8,200,000 10,260 ,000 V 12,300,000 30,750,000 Cash available 8.600.000 10.300.000 12.250,000 X 31,150,000 Less Disbursements: Purchases 6.490.000 19,000,000 5.830.000 6, 8,000 2.565.000 2.479,500 7,096,500 2,052.000 Direct labor 555.600 170,000 Overhead 483.600 214,000 1,609.2007 750,000 9,8 286,000 Selling & admin 9,775.100 90 V Total 10,109,000 28.463,700 $24.900 2.141.000 X 52.685,300 20.400 Tentative ending balance Borrowed/repaid 29,600 29.000 4.592X 4.592 x Interest paid 550.98X H 0 / 2.62.748 X 2,141,000 X Ending balance Feedback Check My Work Email instructor All work saved c 2 O omiltakeAssignment/takeAssignment Main doinvokertakeAssignmentSessionLocator Binprogress=false eBook Calculator Operating Budget, Comprehensive Analysis Allison Manufacturing produces a subassembly used in the production of jet aircraft engines. The assembly is sold to engine manufacturers and aircraft maintenance facilities. Projected sales in units for the coming 5 months follow: January 40,000 February 50,000 March 60,000 April 60,000 May 62,000 The following data pertain to production policies and manufacturing specifications followed by Allison Manufacturing Finished goods inventory on January 1 is 32,000 units, each costing $166.06. The desired ending inventory for each month is 80% of the next month's sales. b. The data on materials used are as follows: Direct Material PerUnit Usage DM Unit Cost (S) Metal 10 lbs. Components Inventory policy dictates that sufficient materials be on hand at the end of the month to produce so% of the next month's production needs. This is exactly the amount of material on hand on December 31 of the prior year c. The direct laborused per unit of output is 3 hours. The average direct labor cost per hour is $14,25 d. Overhead each month is estimated using a flexible budget formula. (Note: Activity is measured in direct labor hours.) Fixed Cost Variable Cost Component (5) Component (5) Supplies 1.00 Power 0.50 Check My Work Next X + ow.com/ilm/takeAssignment rakeAssignment Main.do?invoker=&takeAssignmentSessionLocator=&inprogress=false eBook Inventory policy dictates that sufficient materials be on hand at the end of the month to produce 50% of the next month's production needs. This is exactly the amount of material on hand on December 31 of the prior year The direct labor used per unit of output is 3 hours. The average direct labor cost per hour is $14.25. d. Overhead each month is estimated using a flexible budget formula. (Note: Activity is measured in direct labor hours.) Fixed Cost Variable Cost Component (5) Component (5) Supplies 1.00 Power 0.50 Maintenance 30,000 0.40 Supervision 16,000 Depreciation 200,000 Taxes 12,000 Other 80,000 0.50 . Monthly selling and administrative expenses are also estimated using a flexible budgeting formula. (Note: Activity is measured in units sold.) Fixed Variable Costs (5) Costs (5) Salaries 50,000 Commissions 2.00 Depreciation 40,000 Shipping 1.00 Other 20,000 0.60 The unit selling price of the subassembly is $205. 9. All sales and purchases are for cash. The cash balance on January 1 equals $400,000. The firm requires a minimum ending balance of $50,000. If the firm develops a cash shortage Check My Work Next + enow.com/ilm/takeAssignment/takeAssignment Main doinvokertakassignmentSession Locator &inprogress-false elok Calculator Salaries 50,000 Commissions 2.00 Depreciation 40,000 Shipping 1.00 Other 20,000 0.60 f. The unit selling price of the subassembly is $205 9. All sales and purchases are for cash. The cash balance on January 1 equals $400,000. The firm requires a minimum ending balance of $50,000. If the firm develops a cash shortage by the end of the month, sufficient cash is borrowed to cover the shortage. Any cash borrowed is repaid at the end of the quarter, as is the interest due (cash borrowed at the end of the quarter is repaid at the end of the following quarter). The interest rate is 12% per annum. No money is owed at the beginning of January Required: 1. Prepare a monthly operating budget for the first quarter with the following schedules. (Note: Assume that there is no change in work in process inventories.) a. Schedule 1: Sales Budget. Do not include a multiplication symbol as part of your answer. Allison Manufacturing Sales Budget For the Quarter Ended March 31 January February March Total Units 40.000 50,000 60,000 150,000 205 205 205 Selling price Assignment/takeAssignment Main.do?invoker=&takeAssignmentSessionlocator=&inprogress false eBlock Calculator j. Schedule 10: Cash Budget. If an amount is zero, enter "o". Use a minus sign to enter a negative amount. Allison Manufacturing Cash Budget For the Quarter Ended March 31 January February March Total Beginning balance S 400.000 50.000 324.900 X 400,000 Cash receipts 8,200,000 10,260 ,000 V 12,300,000 30,750,000 Cash available 8.600.000 10.300.000 12.250,000 X 31,150,000 Less Disbursements: Purchases 6.490.000 19,000,000 5.830.000 6, 8,000 2.565.000 2.479,500 7,096,500 2,052.000 Direct labor 555.600 170,000 Overhead 483.600 214,000 1,609.2007 750,000 9,8 286,000 Selling & admin 9,775.100 90 V Total 10,109,000 28.463,700 $24.900 2.141.000 X 52.685,300 20.400 Tentative ending balance Borrowed/repaid 29,600 29.000 4.592X 4.592 x Interest paid 550.98X H 0 / 2.62.748 X 2,141,000 X Ending balance Feedback Check My Work Email instructor All work saved c 2 O