Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Omamental Sculptures Mfg. manufactures garden sculptures. Each sculpture requires 8 pounds of direct materials at a cost of $2 per pound and 0.4 direct labor

image text in transcribed

image text in transcribed

Omamental Sculptures Mfg. manufactures garden sculptures. Each sculpture requires 8 pounds of direct materials at a cost of $2 per pound and 0.4 direct labor hours at a rate of $20 per hour. Variable manufacturing overhead is charged at a rate of $3 per direct labor hour. Fixed manufacturing overhead is $3,300 per month. The company's policy is to maintain direct materials inventory equal to 20% of the next month's materials requirement. At the end of February the company had 4,580 pounds of direct materials in Inventory. The company's production budget reports the following Production Budget March April May Units to be produced 3,900 5,200 5,000 (1) Prepare direct materials budgets for March and April. (2) Prepare direct labor budgets for March and April (3) Prepare factory overhead budgets for March and April. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare direct materials budgets for March and April. ORNAMENTAL SCULPTURES MFG. Direct Materials Budget For the Months of March and April March April Budgeted production (units) Materials requirements per unit (lbs.) Materials needed for production (lbs.) Budgeted ending inventory (lbs) Total materials requirements (lbs.) Budgeted beginning inventory (lbs.) Materials to be purchased (lbs.) Direct material cost per lb. Total budgeted direct materials Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare direct labor budgets for March and April. (Round "DL hours required per unit" answers to two decimal places.) ORNAMENTAL SCULPTURES MFG. Direct Labor Budget For the Months of March and April April Budgeted production (units) DL hours required per unit Total direct labor hours needed Direct labor rate per hour Total budgeted direct labor March

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Rehabilitation Tax Credit IRS Audit Techniques Guide

Authors: Internal Revenue Service

1st Edition

1304114686, 978-1304114686

More Books

Students also viewed these Accounting questions