Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please help PB 8-1 and PB8-2 :) g Beach Wind Company manufactures kites that sell for $20 each. Each kite requires 2 yards of lightweight

image text in transcribed
image text in transcribedplease help PB 8-1 and PB8-2 :)
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
g Beach Wind Company manufactures kites that sell for $20 each. Each kite requires 2 yards of lightweight canvas, which costs $0.60 per yard. Each kite takes approximately 30 minutes to build, and the labor rate averages $8 per hour. Beach Wind has the following inventory policies: Ending finished goods inventory should be 30 percent of next month's sales. Ending direct materials inventory should be 20 percent of next month's production. Expected kite sales for the upcoming months are: Variable manufacturing overhead is incurred at a rate of $0.40 per unit produced. Annual fixed manufacturing overhead is estimated to be $9,000 ( $750 per month) for expected production of 9,000 units for the year. Selling and administrative expenses are estimated at $820 per month plus $0.75 per unit sold. Required: Required: Prepare the following for Beach Wind for the second quarter (April, May, and June). Include each month as well as the quarter 2 total in each budget. 1. Sales budget. 2. Production budget. 3. Direct materials purchases budget. 4. Direct labor budget. 5. Manufacturing overhead budget. 6. Budgeted cost of goods sold. 7. Selling and administrative expenses budget. PB8-2 Preparing Budgeted Income Statement LO 8-3h Refer to the information in SB81. Required: Prepare Beach Wind's budgeted income statement for quarter 2 . C86 fx 23 Budgeted Production (in units) 24 Material Reguired per unit 25 Total material required for production 26 Add: Ending inventory regulred 27 Less: Beginning inventory 28 Budgeted Purchases Required 29 Cost per unit (per closure) 30 Total Budgeted Raw Material Purchases 36 Budgeted Production (in units) 37 Average direct labor hours per unit 38. Total direct labor hours required 39 Average hourly pay rate 40 Budgeted direct labor cost 41= 42 Direct Labor Budget. 2nd atr April May June 1)(1) 11/1) - to

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

Advanced Financial Reporting And Analysis

Authors: John Dunn, Margaret Stewart

1st Edition

0470973609, 9780470973608

More Books

Students also viewed these Accounting questions