More Info Xenos blue rugs are very popular and demand is high, but because of capacity constraints the firm will produce only 205,000 blue rugs per year. The budgeted selling price is $2,000 each. There are no rugs in beginning inventory. Target ending inventory of rugs is also zero. Xenos makes rugs by hand, but uses a machine to dye the wool. Thus, overhead costs are accumulated in two cost pools--one for weaving and the other for dyeing, Weaving overhead is allocated to products based on direct manufacturing labor-hours (DMLH). Dyeing overhead is allocated to products based on machine-hours (MH). wentory Print Done mning of dye at st flow Data Table - X enos budgets 60 de ts 0.2 machine-hou The following table presents the budgeted overhead costs for the dyeing and weaving cost pools: I usage prepare Dyeing (based on 1,476,000 MH) Weaving (based on 12,300,000 DMLH) rial Usag Variable costs Indirect materials 0 $ 15,390,000 Maintenance 5,520,000 Utilities Fixed costs 6,555,000 7,555,000 2,035,000 352,000 1.720,000 Indirect labor Depreciation Other Is inventor 2.163.000 718,000 265,000 5,820.000 $ Total budgeted costs 17,343,000 $ 30,750,000 Print Done Read the requirements. Requirement 1. Prepare a direct material usage budget in both units and dollars. Begin with the physical units portion, then prepare the cost budget portion of the direct material usage budget. Direct Material Usage Budget in Quantity and Dollars Material Wool Dye Physical Units Budget Direct materials required for Total skeins gal Blue rugs Cost Budget Available from beginning direct materials inventory (under a FIFO cost-flow assumption) Wool Dye To be purchased this period Wool Dye Nirort materiale in hered this norint Choose from any list or enter any number in the input fields and then continue to the next question. Read the requirements. Requirement 2. Calculate the budgeted overhead allocation rates for weaving and dyeing. Begin by determining the formula, then calculate the budgeted overhead allocation rate for weaving. (Round your answer to the nearest cent.) = Budgeted manufacturing overhead rate Begin by determining the formula, then calculate the budgeted overhead allocation rate for dyeing. (Round your answer to the nearest cent.) Budgeted manufacturing overhead rate Cost per X X Requirement 3. Calculate the budgeted unit cost of a blue rug for the year. (Round your answers to two decimal places.) Input per Budgeted unit of input unit of output unit cost Wool Dye Direct manufacturing labor Dyeing overhead Weaving overhead Total X X Choose from any list or enter any number in the input fields and then continue to the next question Requirement 3. Calculate the budgeted unit cost of a blue rug for the year. (Round your answers to two decimal places.) Cost per Input per Budgeted unit of input unit of output unit cost Wool 11 Dye Direct manufacturing labor Dyeing overhead Weaving overhead Total Total Requirement 4. Calculate the budgeted cost of goods sold for blue rugs assuming sales of 205,000 rugs(For amounts with a 50 balance, make sure to enter "o" in the appropriate cell) Cost of Goods Sold Budget (a) 205,000 units Beginning finished goods inventory Direct materials used Direct manufacturing labor Manufacturing overhead Cost of goods manufactured Cost of goods available for sale Deductending finished goods inventory Cost of goods sold Choose from any list or enter any number in the input fields and then continue to the next question More Info Xenos blue rugs are very popular and demand is high, but because of capacity constraints the firm will produce only 205,000 blue rugs per year. The budgeted selling price is $2,000 each. There are no rugs in beginning inventory. Target ending inventory of rugs is also zero. Xenos makes rugs by hand, but uses a machine to dye the wool. Thus, overhead costs are accumulated in two cost pools--one for weaving and the other for dyeing, Weaving overhead is allocated to products based on direct manufacturing labor-hours (DMLH). Dyeing overhead is allocated to products based on machine-hours (MH). wentory Print Done mning of dye at st flow Data Table - X enos budgets 60 de ts 0.2 machine-hou The following table presents the budgeted overhead costs for the dyeing and weaving cost pools: I usage prepare Dyeing (based on 1,476,000 MH) Weaving (based on 12,300,000 DMLH) rial Usag Variable costs Indirect materials 0 $ 15,390,000 Maintenance 5,520,000 Utilities Fixed costs 6,555,000 7,555,000 2,035,000 352,000 1.720,000 Indirect labor Depreciation Other Is inventor 2.163.000 718,000 265,000 5,820.000 $ Total budgeted costs 17,343,000 $ 30,750,000 Print Done Read the requirements. Requirement 1. Prepare a direct material usage budget in both units and dollars. Begin with the physical units portion, then prepare the cost budget portion of the direct material usage budget. Direct Material Usage Budget in Quantity and Dollars Material Wool Dye Physical Units Budget Direct materials required for Total skeins gal Blue rugs Cost Budget Available from beginning direct materials inventory (under a FIFO cost-flow assumption) Wool Dye To be purchased this period Wool Dye Nirort materiale in hered this norint Choose from any list or enter any number in the input fields and then continue to the next question. Read the requirements. Requirement 2. Calculate the budgeted overhead allocation rates for weaving and dyeing. Begin by determining the formula, then calculate the budgeted overhead allocation rate for weaving. (Round your answer to the nearest cent.) = Budgeted manufacturing overhead rate Begin by determining the formula, then calculate the budgeted overhead allocation rate for dyeing. (Round your answer to the nearest cent.) Budgeted manufacturing overhead rate Cost per X X Requirement 3. Calculate the budgeted unit cost of a blue rug for the year. (Round your answers to two decimal places.) Input per Budgeted unit of input unit of output unit cost Wool Dye Direct manufacturing labor Dyeing overhead Weaving overhead Total X X Choose from any list or enter any number in the input fields and then continue to the next question Requirement 3. Calculate the budgeted unit cost of a blue rug for the year. (Round your answers to two decimal places.) Cost per Input per Budgeted unit of input unit of output unit cost Wool 11 Dye Direct manufacturing labor Dyeing overhead Weaving overhead Total Total Requirement 4. Calculate the budgeted cost of goods sold for blue rugs assuming sales of 205,000 rugs(For amounts with a 50 balance, make sure to enter "o" in the appropriate cell) Cost of Goods Sold Budget (a) 205,000 units Beginning finished goods inventory Direct materials used Direct manufacturing labor Manufacturing overhead Cost of goods manufactured Cost of goods available for sale Deductending finished goods inventory Cost of goods sold Choose from any list or enter any number in the input fields and then continue to the next