Need help im stuck on these!
Lens Junction sells lenses for $45 each and is estimating sales of 16,000 units in January and 19,000 in February. Each lens consists of 2 pounds of silicon costing $2.50 per pound, 3 oz of solution costing $3 per ounce, and 15 minutes of direct labor at a labor rate of $18 per hour. Desired inventory levels are: Jan. 31 Feb. 28 Mar. 31 Beginning inventory Finished goods 4,700 5,000 5,100 Direct materials: silicon 8,400 9,100 9,200 Direct materials: solution 11,400 12,000 13,000 Prepare a sales budget. Lens Junction Sales Budget For the Two Months Ending February 28, 20XX January February Expected Sales (Units) 16,000 19,000 Sales Price per Unit 45 45 Total Sales Revenue 720,000 855,000 Total 1,575,000 Feedback Check My Work The sales budget is completed first followed by the production budget. Information from the production budget is then used for the direct materials and direct labor budgets. Prepare a production budget. Lens Junction Production Budget For the Two Months Ending February 28, 20XX January February Expected Sales 16,000 19,000 Add: Desired Ending Inventory v 5,000 5,100 Total Required Units 21,000 24,100Production Budget For the Two Months Ending February 28, 20XX January February Expected Sales 16,000 19,000 Add: Desired Ending Inventory v 5,000 5,100 Total Required Units 21,000 24,100 Less: Beginning Inventory v 4,700 5,000 V Required Production 16,300 19,100 Total 35,400 Feedback Check My Work Correct Prepare direct materials budget for silicon. Lens Junction Direct Materials Budget for Silicon For the Two Months Ending February 28, 20Xx January February Units to be Produced 16,300 V 19,100 Direct Material per Unit 35 X Total Ounces Needed for Production 521,600 X Add: Desired Ending Inventory v 5,000 X Total Material Required Less: Beginning Inventory v Ounces of Direct Material Purchase Requirements Cost per Ounce Total Cost of Direct Material Purchase Total Direct Materials Silicon for Two Months Ending February 28, 20XX Check My Work Previous NextPrepare direct materials budget for solution. Lens Junction Direct Materials Budget for Solution For the Two Months Ending February 28, 20XX January February Units to be Produced Direct Material per Unit Total Ounces Needed for Production Total Material Required Ounces of Direct Material Purchase Requirements Cost per Ounce Total Cost of Direct Material Purchase Total Direct Materials Solution for Two Months Ending February 28, 20XX Feedback Check My Work Incorrect Prepare a direct labor budget. Lens Junction Direct Labor Budget For the Two Months Ending February 28, 20Xx January February Units to be Produced Direct Labor Hours per Unit Total Required Direct Labor Hours Labor Cost per Hour Check My Work Previous NextOunces of Direct Material Purchase Requirements ? Cost per Ounce Total Cost of Direct Material Purchase Total Direct Materials Solution for Two Months Ending February 28, 20XX Feedback Check My Work Incorrect Prepare a direct labor budget. Lens Junction Direct Labor Budget For the Two Months Ending February 28, 20XX January February Units to be Produced Direct Labor Hours per Unit Total Required Direct Labor Hours Labor Cost per Hour Total Direct Labor Cost Total Direct Labor Budget For Two Months Ending February 28, 20XX Feedback Check My Work Incorrect Feedback Check My Work Partially correct
