Need help processing assignment....Thanks

Need help processing assignment....Thanks

Problem 8.38 (Algorithmic) Production, Direct Labor, Direct Materials, Sales Budgets, Budgeted Contribution Margin Greiner Company makes and sells high-quality glare filters for microcomputer monitors. John Craven, controller, is responsible for preparing Greiner's master budget and has assembled the following data for 2015. The direct labor rate includes wages, all employee-related benefits, and the employer's share of FICA. Labor saving machinery will be fully operational by March. Also, as of March 1, the company's union contract calls for an increase in direct labor wages that is included in the direct labor rate. Greiner expects to have 5,700 glare filters in inventory at December 31, 2014, and has a policy of carrying 35 percent of the following month's projected sales in inventory. 2015 January February March April Estimated unit sales 35,600 34,800 38,800 38,600 Sales price per unit $82 $82 $75 $75 Direct labor hours per unit 2.90 2.90 2.60 2.60 Direct labor hourly rate $17 $17 $19 $19 Direct materials cost per unit $9 $9 $9 $9 Required: Unless otherwise indicated, round all calculated amounts to the nearest dollar or unit. 1. Prepare the following monthly budgets for Greiner Company for the first quarter of 2015. Hide a. Production budget in units: Greiner Company Production Budget (units) For the First Quarter of 2015 Ja nu ary Unit sales Desired ending inventory Total units required Less: Beginning inventory Units produced Fe bru ary M arc h Tot al Hide b. Direct labor budget in hours: Round your answers to two decimal places, if required. Greiner Company Direct Labor Budget (hours) For the First Quarter of 2015 Ja nu ary Fe bru ary M arc h Tot al Units produced Direct labor hours per unit Total labor budget (hours) Hide c. Direct materials cost budget: Greiner Company Direct Materials Cost Budget For the First Quarter of 2015 Ja nu ary Fe bru ary M arc h Tot al $ $ $ $ $ $ $ $ Units produced Cost per unit Total direct materials d. Sales budget: Round unit selling price amounts to the nearest cent and use the same for subsequent requirements. Greiner Company Sales Budget (dollars) For the First Quarter of 2015 Ja nu ary Fe bru ary M arc h Tot al $ $ $ $ $ $ $ $ Unit sales Unit selling price Total sales revenue 2. Calculate the total budgeted contribution margin for Greiner Company by month and in total for the first quarter of 2015. (CMA adapted) Greiner Company Budgeted Contribution Margin For the First Quarter of 2015 Sales revenue Ja nu ary Fe bru ary M arc h Tot al $ $ $ $ $ $ $ $ Direct labor cost Materials cost Contribution margin