Part B g. The company's variable manufacturing overhead rate is $2.25 per direct labor-hour and the company's fixed manufacturing overhead is $45,000 per quarter. The only non cash item included in fixed manufacturing overhead is depreciation, which is $17,000. "Halum Toys Co" wants to prepare a master budget contains-Sales budget, Schedule of cash collection, Production Budget, Direct Material Budget. Schedule of cash disbursement, Direct Labor Budget, Manufacturing Overhead Budget, Selling and Administrative Budget and Cash Budget for 2018. The following information has been provided by different departments of the company. h. The company's variable selling and administrative expense per unit is $3. Fixed selling and administrative expense in per quarter is $5,800. Depreciation expense in per quarter is $ 2.700. . Beginning cash balance of 2018 is $500,000. The company has borrowed $150,000 in 3rd Quarter. from a local bank. Interest on the loan will be total $35,500. At the end of the year all loans and interest need to be paid to the bank. Here, A= 1st member's ID's last number (Example: If ID is 2019010000077, A=4) B= 2nd member's ID's last number (Example: If ID is 2019010000078, B=8) 5 C= 3rd member's ID's last number (Example: If ID is 2019010000079, C=2) D=4th member's ID's last number (Example: If ID is 2019010000080, D=0) E= 5th member's ID's last number (Example: If ID is 2019010000081. E=3) a. Marketing department has provided the following budgeted unit sales for the coming year. Selling price per unit of product is $450. Year 2018 2019 Q1 Q2 Q3 Q4 Q1 Budgeted Unit Sales 2ABCD 3DCBA 4BCDE 5DCBA 60000 6. Sales are collected in the following pattern: 65% in the quarter the sales are made and the remaining, 35% in the following quarter. On January 1, 2018 the company's balance sheet showed $300,000 in accounts receivable. All of which will be collected in the first quarter of the year. c. The company desires an ending finished goods inventory at the end of each quarter equal to 30% ofw the budgeted unit sales for the next quarter. On December 31, Year 2017, the company had 12.000 units of finished goods on hand. d. 12 pounds of raw material required to complete each unit of product. The company required ending raw materials inventory at the end of each quarter equal to 20% of the following quarter's production needs. On December 31, 2017, the company had 19.000 raw materials on hand. Next wear's first quarter's required production unit is 25,000. e. The raw material costs $1.50 per pound. Raw material purchases are paid for in the following pattern: 65% paid in the quarter the purchase are made, and the remaining 35% paid in the following quarter. On January 1, 2018 the company's balance sheet showed $65,000 in accounts payable for raw material purchases, all of which will be paid in the 2nd quarter of the year. Activ f. The human resource department of the company has given the following information, direct labor hour per product is 1.2. Direct labor cost for per hour is $21. Go to Part B g. The company's variable manufacturing overhead rate is $2.25 per direct labor-hour and the company's fixed manufacturing overhead is $45,000 per quarter. The only non cash item included in fixed manufacturing overhead is depreciation, which is $17,000. "Halum Toys Co" wants to prepare a master budget contains-Sales budget, Schedule of cash collection, Production Budget, Direct Material Budget. Schedule of cash disbursement, Direct Labor Budget, Manufacturing Overhead Budget, Selling and Administrative Budget and Cash Budget for 2018. The following information has been provided by different departments of the company. h. The company's variable selling and administrative expense per unit is $3. Fixed selling and administrative expense in per quarter is $5,800. Depreciation expense in per quarter is $ 2.700. . Beginning cash balance of 2018 is $500,000. The company has borrowed $150,000 in 3rd Quarter. from a local bank. Interest on the loan will be total $35,500. At the end of the year all loans and interest need to be paid to the bank. Here, A= 1st member's ID's last number (Example: If ID is 2019010000077, A=4) B= 2nd member's ID's last number (Example: If ID is 2019010000078, B=8) 5 C= 3rd member's ID's last number (Example: If ID is 2019010000079, C=2) D=4th member's ID's last number (Example: If ID is 2019010000080, D=0) E= 5th member's ID's last number (Example: If ID is 2019010000081. E=3) a. Marketing department has provided the following budgeted unit sales for the coming year. Selling price per unit of product is $450. Year 2018 2019 Q1 Q2 Q3 Q4 Q1 Budgeted Unit Sales 2ABCD 3DCBA 4BCDE 5DCBA 60000 6. Sales are collected in the following pattern: 65% in the quarter the sales are made and the remaining, 35% in the following quarter. On January 1, 2018 the company's balance sheet showed $300,000 in accounts receivable. All of which will be collected in the first quarter of the year. c. The company desires an ending finished goods inventory at the end of each quarter equal to 30% ofw the budgeted unit sales for the next quarter. On December 31, Year 2017, the company had 12.000 units of finished goods on hand. d. 12 pounds of raw material required to complete each unit of product. The company required ending raw materials inventory at the end of each quarter equal to 20% of the following quarter's production needs. On December 31, 2017, the company had 19.000 raw materials on hand. Next wear's first quarter's required production unit is 25,000. e. The raw material costs $1.50 per pound. Raw material purchases are paid for in the following pattern: 65% paid in the quarter the purchase are made, and the remaining 35% paid in the following quarter. On January 1, 2018 the company's balance sheet showed $65,000 in accounts payable for raw material purchases, all of which will be paid in the 2nd quarter of the year. Activ f. The human resource department of the company has given the following information, direct labor hour per product is 1.2. Direct labor cost for per hour is $21. Go to
