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please answer the whole thing.:) ive posted part a-d on other questions ! thanks ! Fillmore Company has developed the following standards related to the
please answer the whole thing.:) ive posted part a-d on other questions ! thanks ! Fillmore Company has developed the following standards related to the production of their finished units: Direct Materials (6 pounds per unit @ $5 per pound) Direct Labor (9 hours per unit @ $22 per direct labor hour) Variable Overhead (4 machine hours @ $7 per machine hour) Fixed overhead costs are estimated at $542,000 per quarter. Selling and administrative costs are expected to be $3 per unit variable and $450,000 fixed per quarter. The expected selling price is $360 per unit. The following sales forecast is available for the year 2020: 1st Quarter 14,000 units; 2nd Quarter 16,000 units; 3rd Quarter 19,000 units; and the 4th Quarter 18,000 units. The expected sales in the 1st Quarter of the year 2021 are 17,000 units. Management policy is to maintain a finished goods inventory equal to 25% of the next quarter's sales and a raw materials inventory equal to 10% of the next quarter's material production requirements. The beginning inventories of the 1st quarter of the year 2020 are expected to meet these same requirements, 1. What is total budgeted direct labor cost? 2. What is total budgeted variable overhead cost? 3. What is total budgeted fixed overhead cost? 4. What amount of fixed overhead cost will be applied to production? 5. What are total budgeted dollar sales? 6. What is total budgeted cost of goods sold? 7. What are the total budgeted selling and administrative costs? 8. What is the budgeted net income? 9. What is the budgeted ending balance in dollars) of the raw materials inventory? 10. What is the budgeted ending balance in dollars) of the finished goods inventory
please answer the whole thing.:) ive posted part a-d on other questions ! thanks !
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