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Iridescent Corporation manufactures and sells two types of decorative lamps, Knox and Ayer. The following data are available for the year 2017. (Click the
Iridescent Corporation manufactures and sells two types of decorative lamps, Knox and Ayer. The following data are available for the year 2017. (Click the icon to view the information.) Calculate (1) the budgeted unit costs of ending finished-goods inventory on December 31, 2017 (label it Schedule 6A) and (2) the ending inventories budget on December 31, 2017 (label it Schedule 6B). (1). Calculate the budgeted unit costs of ending finished-goods inventory on December 31, 2017 (label it Schedule 6A). (Round all dollar amounts to the nearest cent. Enter all input per unit of output amounts for direct manufacturing labor to two decimal places, and machine setup overhead to three decimal places.) Metal Schedule 6A: Unit Costs of Ending Finished Goods-Inventory December 31, 2017 Fabric Direct manufacturing labor Machine setup overhead Total Product Knox Ayer Cost per Input per Input per unit of unit of unit of input output Total output Total lbs. lbs. yard yards hrs. hrs. hrs. hrs. Product Knox Ayer Target ending inventory in units 1,500 500 Direct materials Metal $ 2 per pound (same as in 2016) Fabric $ 3 per yard (same as in 2016) Direct manufacturing labor $ 13 per hour Machine setup overhead Content of Each Product Unit $ 200 per hour Product Knox Ayer Metal 4 pounds 5 pounds Fabric 1 yard 2 yards Direct manufacturing labor 0.05 hours 0.15 hours Machine setup overhead 0.02 hours 0.06 hours Direct Materials Metal Fabric Target ending inventory 11,000 pounds 4,000 yards
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