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Need help with master budget in managerial accounting . Sales forecast for 20x0 (all units to be shipped in 20x0): Product Light coil 63,000 330
Need help with master budget in managerial accounting
. Sales forecast for 20x0 (all units to be shipped in 20x0): Product Light coil 63,000 330 Heavy coil 43,000 430 Units Price Raw-material prices and inventory levels: Expected Inventories, January 1, 20xe 41,000 1b 38,000 1b. Desired Inventories, December 31, 20x0 Anticipated Purchase Price Raw Material Sheet metal Copper wire Platform 45,000 lb. 41, 000 lb $ 16 10 6 6,300 units 7,300 units .Use of raw material: Amount Used per Unit Raw Material Sheet metal Copper wire Platform Light Coil Heavy Coil 4 lb. 2 1b. 5 1b. 3 lb. 1 unit Direct-labor requirements and rates: Product Light coil Heavy coil Hours per Unit 4 6 Rate per Hour $ 10 15 Finished-goods inventories (in units): Expected January Desired December 31 Product Light coil Heavy coil 1, 20x0 28,000 8,000 20x 33,000 9,000 . Production overhead: Overhead Cost Item Purchasing and material handling Depreciation, utilities, and inspection Shipping General production overhead Activity-Based Budget Rate $0.70 per pound of sheet metal and copper wire purchased $6.00 per coil produced (either type) $2.00 per coil shipped (either type) $4.00 per direct-labor hour 4. Prepare the raw material purchases budget (in dollars) for 20xO Raw Material Purchases Budget for 20x0 RawRaw Material Anticipated (units) RequiredPurchase Total Material Sheet metal Copper wire Price Platforms TotalStep by Step Solution
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