1. Lens Junction sells lenses for $46 each and is estimating sales of 16,000 units in January and 18,000 in February. Each lens consists of 2 pounds of silicon costing $2.50 per pound, 3 oz of solution costing $3 per ounce, and 30 minutes of direct labor at a labor rate of $22 per hour. Desired inventory levels are:
2. Jan. 31Feb. 28Mar. 31Beginning inventoryFinished goods4,7005,1005,000Direct materials: silicon8,6009,1009,400Direct materials: solution11,10011,80013,000
3. Prepare a sales budget.
4. Lens JunctionSales BudgetFor the Two Months Ending February 28, 20XXJanuaryFebruaryExpected Sales (Units)fill in the blank 405d0306dfce03a_1
5. fill in the blank 405d0306dfce03a_2
6. Sales Price per Unit$
7. fill in the blank 405d0306dfce03a_3
8. $
9. fill in the blank 405d0306dfce03a_4
10. Total Sales Revenue$
11. fill in the blank 405d0306dfce03a_5
12. $
13. fill in the blank 405d0306dfce03a_6
14. Total$
15. fill in the blank 405d0306dfce03a_7
16. Prepare a production budget.
17. Lens JunctionProduction BudgetFor the Two Months Ending February 28, 20XXJanuaryFebruaryExpected Salesfill in the blank 8fae7208d051ff4_1
18. fill in the blank 8fae7208d051ff4_2
21. fill in the blank 8fae7208d051ff4_4
22. fill in the blank 8fae7208d051ff4_5
23. Total Required Unitsfill in the blank 8fae7208d051ff4_6
24. fill in the blank 8fae7208d051ff4_7
27. fill in the blank 8fae7208d051ff4_9
28. fill in the blank 8fae7208d051ff4_10
29. Required Productionfill in the blank 8fae7208d051ff4_11
30. fill in the blank 8fae7208d051ff4_12
31. Totalfill in the blank 8fae7208d051ff4_13
32. Prepare direct materials budget for silicon.
33. Lens JunctionDirect Materials Budget for SiliconFor the Two Months Ending February 28, 20XXJanuaryFebruaryUnits to be Producedfill in the blank 88aa570a400a02b_1
34. fill in the blank 88aa570a400a02b_2
35. Direct Material per Unitfill in the blank 88aa570a400a02b_3
36. fill in the blank 88aa570a400a02b_4
37. Total Ounces Needed for Productionfill in the blank 88aa570a400a02b_5
38. fill in the blank 88aa570a400a02b_6
41. fill in the blank 88aa570a400a02b_8
42. fill in the blank 88aa570a400a02b_9
43. Total Material Requiredfill in the blank 88aa570a400a02b_10
44. fill in the blank 88aa570a400a02b_11
47. fill in the blank 88aa570a400a02b_13
48. fill in the blank 88aa570a400a02b_14
49. Ounces of Direct Material Purchase Requirementsfill in the blank 88aa570a400a02b_15
50. fill in the blank 88aa570a400a02b_16
51. Cost per Ounce$
52. fill in the blank 88aa570a400a02b_17
53. $
54. fill in the blank 88aa570a400a02b_18
55. Total Cost of Direct Material Purchase$
56. fill in the blank 88aa570a400a02b_19
57. $
58. fill in the blank 88aa570a400a02b_20
59. Total Direct Materials Silicon for Two Months Ending February 28, 20XX$
60. fill in the blank 88aa570a400a02b_21
61. Prepare direct materials budget for solution.
62. Lens JunctionDirect Materials Budget for SolutionFor the Two Months Ending February 28, 20XXJanuaryFebruaryUnits to be Producedfill in the blank db3148f8cfeafa0_1
63. fill in the blank db3148f8cfeafa0_2
64. Direct Material per Unitfill in the blank db3148f8cfeafa0_3
65. fill in the blank db3148f8cfeafa0_4
66. Total Ounces Needed for Productionfill in the blank db3148f8cfeafa0_5
67. fill in the blank db3148f8cfeafa0_6
70. fill in the blank db3148f8cfeafa0_8
71. fill in the blank db3148f8cfeafa0_9
72. Total Material Requiredfill in the blank db3148f8cfeafa0_10
73. fill in the blank db3148f8cfeafa0_11
76. fill in the blank db3148f8cfeafa0_13
77. fill in the blank db3148f8cfeafa0_14
78. Ounces of Direct Material Purchase Requirementsfill in the blank db3148f8cfeafa0_15
79. fill in the blank db3148f8cfeafa0_16
80. Cost per Ounce$
81. fill in the blank db3148f8cfeafa0_17
82. $
83. fill in the blank db3148f8cfeafa0_18
84. Total Cost of Direct Material Purchase$
85. fill in the blank db3148f8cfeafa0_19
86. $
87. fill in the blank db3148f8cfeafa0_20
88. Total Direct Materials Solution for Two Months Ending February 28, 20XX$
89. fill in the blank db3148f8cfeafa0_21
90. Prepare a direct labor budget.
91. Lens JunctionDirect Labor BudgetFor the Two Months Ending February 28, 20XXJanuaryFebruaryUnits to be Producedfill in the blank 66c707f41fbb04a_1
92. fill in the blank 66c707f41fbb04a_2
93. Direct Labor Hours per Unitfill in the blank 66c707f41fbb04a_3
94. fill in the blank 66c707f41fbb04a_4
95. Total Required Direct Labor Hoursfill in the blank 66c707f41fbb04a_5
96. fill in the blank 66c707f41fbb04a_6
97. Labor Cost per Hour$
98. fill in the blank 66c707f41fbb04a_7
99. $
100. fill in the blank 66c707f41fbb04a_8
101. Total Direct Labor Cost$
102. fill in the blank 66c707f41fbb04a_9
103. $
104. fill in the blank 66c707f41fbb04a_10
105. Total Direct Labor Budget For Two Months Ending February 28, 20XX$
106. fill in the blank 66c707f41fbb04a_11

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