Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please Help!!! Calculate the total projected manufacturing cost to produce each knife in 2020: (They are looking for two things here as on the original

Please Help!!!

Calculate the total projected manufacturing cost to produce each knife in 2020:

(They are looking for two things here as on the original doc there is 2 open spots next to each.)

Direct materials cost per knife =

Direct labor cost per knife =

Manufacturing overhead cost per knife =

Total projected manufacturing cost per knife for 2020 =

Calculate the cost of the projected knives sold in each quarter in 2020:

(Here they are looking for two amounts as well and the begin inventory is correct. just need the amounts for units produced in 2020)

Beginning Inventory Units Produced in 2020

First Quarter ` 600 $15,600 500

Second Quarter 1300

Third Quarter 1500

Fourth Quarter 1700

Additional INFO:

Nicole's Knives

Sales Budget

For the year ended December 31, 2020

First Quarter/Second Quarter/Third Quarter/Fourth Quarter/Total

Budgeted knives to be sold 1,100 /1,300 /1,500 / 1,700 / 5,600

Sales price per unit $75.00 /$75.00 / $75.00 / $75.00 / $300.00

Total sales $82,500 / $97,500 / $112,500 / $127,500 / $420,000

Nicole's Knives

Production Budget

For the year ended December 31, 2020

First Quarter/ Second Quarter /Third Quarter/Fourth Quarter/Total

Budgeted knives to be sold 1,100q1 / 1,300 / 1,500 / 1,700 /5,600

Plus: Desired knives in ending inventory 260q1 / 300 / 340 / 380 / 380

Total knives needed 1,360 q1/ 1,600 / 1,840 / 2,080 / 5,980

Less: Knives in beginning inventory 600q1/ 260 / 300 / 340 / 1,500

Budgeted knives to be produced 760q1 / 1,340 / 1,540 / 1,740 /5,380

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Probability And Statistics For Engineering And The Sciences

Authors: Jay L. Devore

9th Edition

1305251806, 978-1305251809

Students also viewed these Accounting questions