Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please help!! begin{tabular}{|c|c|c|c|c|c|} hline For 1 & Carlton,Inc.ctMaterialsBulearEndedDec & ember 31 & & & hline & FirstQuarter & SecondQuarter & ThirdQuarter & FourthQuarter &

image text in transcribedimage text in transcribedimage text in transcribed

image text in transcribed

please help!!

\begin{tabular}{|c|c|c|c|c|c|} \hline For 1 & Carlton,Inc.ctMaterialsBulearEndedDec & ember 31 & & & \\ \hline & FirstQuarter & SecondQuarter & ThirdQuarter & FourthQuarter & Total \\ \hline Budgeted kits to be produced & 400 & 120 & 650 & 300 & 1,470 \\ \hline Direct materials (ounces) per kit & 4 & 4 & 4 & 4 & 4 \\ \hline Direct materials needed for production & 1,600 & 480 & 2,600 & 1,200 & 5,880 \\ \hline Plus: Desired direct materials in ending inventory & 48 & 260 & 120 & 270 & 270 \\ \hline Total direct materials needed & 1,648 & 740 & 2,720 & 1,470 & 6,150 \\ \hline Less: Direct materials in beginning inventory & 940 & 48 & 260 & 120 & 940 \\ \hline Budgeted purchases of direct materials & 708 & 692 & 2,460 & 1,350 & 5,210 \\ \hline Direct materials cost per ounce & $ & $ & $ & $ & $ \\ \hline Budaeted cost of direct materials nurchases & 2,124 & 2,076 & 7,380 & 4,050 & 15,630 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline For 1 & Carlton,Inc.ctMaterialsBulearEndedDec & ember 31 & & & \\ \hline & FirstQuarter & SecondQuarter & ThirdQuarter & FourthQuarter & Total \\ \hline Budgeted kits to be produced & 400 & 120 & 650 & 300 & 1,470 \\ \hline Direct materials (ounces) per kit & 4 & 4 & 4 & 4 & 4 \\ \hline Direct materials needed for production & 1,600 & 480 & 2,600 & 1,200 & 5,880 \\ \hline Plus: Desired direct materials in ending inventory & 48 & 260 & 120 & 270 & 270 \\ \hline Total direct materials needed & 1,648 & 740 & 2,720 & 1,470 & 6,150 \\ \hline Less: Direct materials in beginning inventory & 940 & 48 & 260 & 120 & 940 \\ \hline Budgeted purchases of direct materials & 708 & 692 & 2,460 & 1,350 & 5,210 \\ \hline Direct materials cost per ounce & $ & $ & $ & $ & $ \\ \hline Budaeted cost of direct materials nurchases & 2,124 & 2,076 & 7,380 & 4,050 & 15,630 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|c|c|c|} \hline & the & Carlton,DirectLaborYearEndec & Inc.BudgetdDecember3 & & & & & \\ \hline & & FirstQuarter & SecondQuarter & ThirdQuarter & & FourthQuarter & & Total \\ \hline Budgeted kits to be produced & & 400 & 120 & 650 & & 300 & & 1,470 \\ \hline Direct labor hours per unit & & 0.75 & 0.75 & 0.75 & & 0.75 & & 0.75 \\ \hline Direct labor hours needed for production & & 300.00 & 90.00 & 487.50 & & 225.00 & & 1,102.50 \\ \hline Direct labor cost per hour & \$ & 45 & 45 & 45 & $ & 45 & $ & 45 \\ \hline & \$ & 13,500 & 4,050 & 21,938 & $ & 10,125 & $ & 49,613 \\ \hline \end{tabular} Carlton, Inc. manufactures model airplane kits. Direct materials are 4 ounces of plastic per kit and the plastic costs $3 per ounce. Indirect materials are considered insignificant and are not included in the budgeting process. Each kit requires 0.75 hours of direct labor at an average cost of $45 per hour. Manufacturing overhead is allocated using direct labor hours as the allocation base. The company has prepared the following budgets: (Click the icon to view the budgets.) Carlton projects sales of 200,100,300, and 600 kits for the next four quarters. Carlton has no kits in beginning inventory. Determine the cost per kit to manufacture the model airplane kits. Prepare a cost of goods sold budget for the year. Round amounts to two decimal places. \begin{tabular}{|c|c|c|c|c|c|} \hline For 1 & Carlton,Inc.ctMaterialsBulearEndedDec & ember 31 & & & \\ \hline & FirstQuarter & SecondQuarter & ThirdQuarter & FourthQuarter & Total \\ \hline Budgeted kits to be produced & 400 & 120 & 650 & 300 & 1,470 \\ \hline Direct materials (ounces) per kit & 4 & 4 & 4 & 4 & 4 \\ \hline Direct materials needed for production & 1,600 & 480 & 2,600 & 1,200 & 5,880 \\ \hline Plus: Desired direct materials in ending inventory & 48 & 260 & 120 & 270 & 270 \\ \hline Total direct materials needed & 1,648 & 740 & 2,720 & 1,470 & 6,150 \\ \hline Less: Direct materials in beginning inventory & 940 & 48 & 260 & 120 & 940 \\ \hline Budgeted purchases of direct materials & 708 & 692 & 2,460 & 1,350 & 5,210 \\ \hline Direct materials cost per ounce & $ & $ & $ & $ & $ \\ \hline Budaeted cost of direct materials nurchases & 2,124 & 2,076 & 7,380 & 4,050 & 15,630 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|c|c|c|} \hline & the & Carlton,DirectLaborYearEndec & Inc.BudgetdDecember3 & & & & & \\ \hline & & FirstQuarter & SecondQuarter & ThirdQuarter & & FourthQuarter & & Total \\ \hline Budgeted kits to be produced & & 400 & 120 & 650 & & 300 & & 1,470 \\ \hline Direct labor hours per unit & & 0.75 & 0.75 & 0.75 & & 0.75 & & 0.75 \\ \hline Direct labor hours needed for production & & 300.00 & 90.00 & 487.50 & & 225.00 & & 1,102.50 \\ \hline Direct labor cost per hour & \$ & 45 & 45 & 45 & $ & 45 & $ & 45 \\ \hline & \$ & 13,500 & 4,050 & 21,938 & $ & 10,125 & $ & 49,613 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|c|c|c|} \hline & the & Carlton,DirectLaborYearEndec & Inc.BudgetdDecember3 & & & & & \\ \hline & & FirstQuarter & SecondQuarter & ThirdQuarter & & FourthQuarter & & Total \\ \hline Budgeted kits to be produced & & 400 & 120 & 650 & & 300 & & 1,470 \\ \hline Direct labor hours per unit & & 0.75 & 0.75 & 0.75 & & 0.75 & & 0.75 \\ \hline Direct labor hours needed for production & & 300.00 & 90.00 & 487.50 & & 225.00 & & 1,102.50 \\ \hline Direct labor cost per hour & \$ & 45 & 45 & 45 & $ & 45 & $ & 45 \\ \hline & \$ & 13,500 & 4,050 & 21,938 & $ & 10,125 & $ & 49,613 \\ \hline \end{tabular}

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

Principles Of Cost Accounting

Authors: Edward J. Vanderbeck

14th Edition

0324374178, 978-0324374179

More Books

Students also viewed these Accounting questions

Question

=+b) Is this model appropriate for this series? Explain.

Answered: 1 week ago