Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Jimenez Corporation manufactures and sells two types of decorative lamps, Knox and Ayer. The following data are available for the year 2017 6-1 Product Knox

image text in transcribed
image text in transcribed
Jimenez Corporation manufactures and sells two types of decorative lamps, Knox and Ayer. The following data are available for the year 2017 6-1 Product Knox Ayer Expected sales in units Selling price Target ending inventory in units Beginning inventory in units 21,00010,000 $ 25 S 40 2,000 1,000 3,000 1,000 Calculate the revenues budget (label it Schedule 1) and the production budget in units (label it Schedule 2) for year ending December 31, 2017. Jimenez Corporation manufactures and sells two types of decorative lamp Ayer. It expects to manufacture 20,000 Knox lamps and 10,000 Ayer lamps in 2017. The following data are available for the year 2017. s, Kno x and Direct materials Metal Fabric s 3 per pound (same as in 2016) $ 4 per yard (same as in 2016) $20 per hour Direct manufacturing labor Content of Each Product Unit Product Knox 2 pounds 1 yard Ayer 3 pounds Metal Fabric Direct manufacturing labor 1.5 yards 0.2 hours 0.15 hours Direct Materials Beginning inventory Target ending inventory Metal 12,000 pounds 10,000 pounds Fabric 7,000 yards 5,000 yards Calculate (a) the direct materials usage budget in quantity and dollars (label it Schedule 3A); (b) the direct materials purchase budget in quantity and dollars (label it Schedule 3B); and (c) the direct manufacturing labor costs budget (label it Schedule 4) for the year ending December 31, 2017

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Edp Auditing A Primer

Authors: Joseph L. Sardinas

1st Edition

0471123056, 978-0471123057

More Books

Students also viewed these Accounting questions

Question

Understanding Group Leadership Culture and Group Leadership

Answered: 1 week ago