Jan 19,200 3.50 67,200 2018 Feb 25,200 3.50 88,200 $ Mar 30,800 3.50 107,800 Q1 Total 75,200 3.50 263,200 $ $ $ Budget #5: Manufacturing Overhead Budget Budgeted units to be produced VOH cost per unit Budgeted VOH Budgeted FOH Depreciation Salaries and maintenance Total budgeted FOH Budgeted manufacturing overhead costs 20,000 50,000 70,000 137,200 20,000 50,000 70,000 158,200 20,000 50,000 70,000 177,800 20,000 50,000 70,000 333,200 $ $ $ $ 9,600 12,600 15,400 Direct labor hours (DLHr) Predetermined overhead allocation rate per DLHr 37,600 8.86 $ Thunder Creek Company uses the first-in, first-out (FIFO) inventory costing method. The Beginning Finished Goods Inventory is $86,400 consisting of 3,600 units. 1. Begin by calculating the projected cost to produce each unit in 2018 based on projected sales. 2. ROUND the fixed manufacturing overhead cost per unit to two decimal places. Cost per unit Direct material cost per unit Direct labor cost per unit Manufacturing overhead cost per unit Total projected manufacturing cost per unit 2018 Jan Feb Mar Q1 Total Budget #6: Cost of Goods Sold Budget Beginning Finished Goods Inventory, 3,600 units. Units produced and sold in 2018 Cost per unit Units per month Total cost of units produced and sold in 2018 Total budgeted cost of goods sold Thunder Creek Company's variable supplies expense per month is $3.00 per unit. The fixed selling and administrative expenses per month consist of Salaries: $245,000; Advertising: $30,000; and Depreciation: $28,000 2018 Jan Feb Mar Q1 Total Budget #7: Selling and Administrative Expense Budget Salaries expense Advertising expense Depreciation expense Supplies expense Total budgeted S&A expense Jan 19,200 3.50 67,200 2018 Feb 25,200 3.50 88,200 $ Mar 30,800 3.50 107,800 Q1 Total 75,200 3.50 263,200 $ $ $ Budget #5: Manufacturing Overhead Budget Budgeted units to be produced VOH cost per unit Budgeted VOH Budgeted FOH Depreciation Salaries and maintenance Total budgeted FOH Budgeted manufacturing overhead costs 20,000 50,000 70,000 137,200 20,000 50,000 70,000 158,200 20,000 50,000 70,000 177,800 20,000 50,000 70,000 333,200 $ $ $ $ 9,600 12,600 15,400 Direct labor hours (DLHr) Predetermined overhead allocation rate per DLHr 37,600 8.86 $ Thunder Creek Company uses the first-in, first-out (FIFO) inventory costing method. The Beginning Finished Goods Inventory is $86,400 consisting of 3,600 units. 1. Begin by calculating the projected cost to produce each unit in 2018 based on projected sales. 2. ROUND the fixed manufacturing overhead cost per unit to two decimal places. Cost per unit Direct material cost per unit Direct labor cost per unit Manufacturing overhead cost per unit Total projected manufacturing cost per unit 2018 Jan Feb Mar Q1 Total Budget #6: Cost of Goods Sold Budget Beginning Finished Goods Inventory, 3,600 units. Units produced and sold in 2018 Cost per unit Units per month Total cost of units produced and sold in 2018 Total budgeted cost of goods sold Thunder Creek Company's variable supplies expense per month is $3.00 per unit. The fixed selling and administrative expenses per month consist of Salaries: $245,000; Advertising: $30,000; and Depreciation: $28,000 2018 Jan Feb Mar Q1 Total Budget #7: Selling and Administrative Expense Budget Salaries expense Advertising expense Depreciation expense Supplies expense Total budgeted S&A expense
