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Need solutions from Cost budget till last pagebudget income statement Course Capstune PTu Opal Jo Company makes two patient transport stretchers, the Granny and the

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Course Capstune PTu Opal Jo Company makes two patient transport stretchers, the Granny and the Giant They are both made of plastic and metal, but the Granny is smaller. Information for the two products for the month of May is given in the following tables. Input Prices Direct materials Plastic Metal $5 per pound $7 per pound $10 per direct manufacturing labor hour Direct manufacturing labor Granny Giant Inputs quantities per unit of output Direct materials 3 pounds 7 pounds 4 hours 4 pounds 9 pounds 6 hours 12 MH Plastic Metal Direct manufacturing labor-hours (DMLH) Machine-hours (MH) 10 MH Inventory information, direct materials Plastic Metal Beginning inventory Target ending inventory Cost of beginning inventory 300 pounds 310 pounds 420 pounds 200 pounds $720 $1,400 Opal Jo accounts for direct material using a FIFO cost flow assumption. Sales and inventory information, finished goods Granny Giant Expected sales in units Selling price Target ending inventory in units Beginning inventory in units Beginning inventory in dollars 900 $420 50 40 700 $520 30 30 $9,000 $7,800 Opal Jo uses a FIFO cost for assumption for finished goods inventory I Jo uses an activity-based costing system and classifies overhead into three activity pools Setup, Processing and Inspection. Activity rates for these activities are as follows: $20 per inspection hour $75 per set up hour $12 per machine hour Other information follows: Capstone Project 3

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