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Xander Manufacturing Company manufactures blue rugs, using wool and dye as direct materials. One rug is budgeted to use 36 skeins of (Click the icon to view the additional information.) wool at a cost of $2 per skein and 0.8 gallons of dye at a cost of $6 per gallon. All other materials are indirect. At the beginning of the year Xander has an inventory of 458,000 skeins of wool at a cost of $961,800 and 4,000 gallons of dye at a cost of $23,680. Target ending There is no direct manufacturing labor cost for dyeing. Xander budgets 62 direct manufacturing labor-hours to weave a rug at a inventory of wool and dye is zero. Xander uses the FIFO inventory cost flow method. budgeted rate of $13 per hour. It budgets 0.2 machine-hours to dye each skein in the dyeing process. (Click the icon to view the budgeted overhead costs.) Read the requirements. Requirement 1. Prepare a direct material usage budget in both units and dollars. Begin with the physical units portion, then prepare the cost budget portion of the direct material usage budget. Xander Manufacturing Company manufactures blue rugs, using wool and dye as direct materials. One rug is budgeted to use 36 skeins of (i) (Click the icon to view the additional information.) wool at a cost of $2 per skein and 0.8 gallons of dye at a cost of $6 per gallon. All other materials are indirect. At the beginning of the year Xander has an inventory of 458,000 skeins of wool at a cost of $961,800 and 4,000 gallons of dye at a cost of $23,680. Target ending There is no direct manufacturing labor cost for dyeing. Xander budgets 62 direct manufacturing labor-hours to weave a rug at a Xander has an inventory of 458,000 skeins of wool at a cost of $961,800 and 4,000g inventory of wool and dye is zero. Xander uses the FIFO inventory cost flow method. budgeted rate of $13 per hour. It budgets 0.2 machine-hours to dye each skein in the dyeing process. (Click the icon to view the budgeted overhead costs.) Read the Requirement 1. Prepare a direct material usage budget in both units and dollars. Begin with the physical units portion, then prepare the cost budget portion of the direct material usage budget. Direct Material Usage Budget in Quantity and Dollars Requirement 2 . Calculate the budgeted overhead allocation rates for weaving and dyeing. Begin by determining the formula, then calculate the budgeted overhead allocation rate for weaving. (Round your answer to the nearest cent. Requirement 5 . Calculate the budgeted cost of goods sold for blue rugs under each sales assumption. (For amounts with a $0 balance, make sure to enter "0" in the appropriate cell.) Begin by (a) completing the cost of goods sold budget assuming sales of 200,000 rugs, and then (b) complete a cost of goods sold budget assuming sales of 185,000 rugs. rest af Ginnde Snle Rurmat Requirement 6 . Find the budgeted gross margin for blue rugs under each sales assumption. Requirement 6 . Find the budgeted gross margin for blue rugs under each sales assumption. Begin by (a) finding the budgeted gross margin assuming sales of 200,000 rugs, and then (b) finding the budgeted gross margin assuming sales of 185,000 rugs. Requirement 7. What actions might you take as a manager to improve profitability if sales drop to 185,000 blue rugs? If sales drop to 185,000 blue rugs, Xander should look to fixed costs and produce to reduce variable costs and inventory costs. Requirement 8 . How might top management at Xander use the budget developed in requirements 16 to better manage the company? (Select all that apply.) Xander Manufacturing Company manufactures blue rugs, using wool and dye as direct materials. One rug is budgeted to use 36 skeins of (Click the icon to view the additional information.) wool at a cost of $2 per skein and 0.8 gallons of dye at a cost of $6 per gallon. All other materials are indirect. At the beginning of the year Xander has an inventory of 458,000 skeins of wool at a cost of $961,800 and 4,000 gallons of dye at a cost of $23,680. Target ending There is no direct manufacturing labor cost for dyeing. Xander budgets 62 direct manufacturing labor-hours to weave a rug at a inventory of wool and dye is zero. Xander uses the FIFO inventory cost flow method. budgeted rate of $13 per hour. It budgets 0.2 machine-hours to dye each skein in the dyeing process. (Click the icon to view the budgeted overhead costs.) Read the requirements. Requirement 1. Prepare a direct material usage budget in both units and dollars. Begin with the physical units portion, then prepare the cost budget portion of the direct material usage budget. Xander Manufacturing Company manufactures blue rugs, using wool and dye as direct materials. One rug is budgeted to use 36 skeins of (i) (Click the icon to view the additional information.) wool at a cost of $2 per skein and 0.8 gallons of dye at a cost of $6 per gallon. All other materials are indirect. At the beginning of the year Xander has an inventory of 458,000 skeins of wool at a cost of $961,800 and 4,000 gallons of dye at a cost of $23,680. Target ending There is no direct manufacturing labor cost for dyeing. Xander budgets 62 direct manufacturing labor-hours to weave a rug at a Xander has an inventory of 458,000 skeins of wool at a cost of $961,800 and 4,000g inventory of wool and dye is zero. Xander uses the FIFO inventory cost flow method. budgeted rate of $13 per hour. It budgets 0.2 machine-hours to dye each skein in the dyeing process. (Click the icon to view the budgeted overhead costs.) Read the Requirement 1. Prepare a direct material usage budget in both units and dollars. Begin with the physical units portion, then prepare the cost budget portion of the direct material usage budget. Direct Material Usage Budget in Quantity and Dollars Requirement 2 . Calculate the budgeted overhead allocation rates for weaving and dyeing. Begin by determining the formula, then calculate the budgeted overhead allocation rate for weaving. (Round your answer to the nearest cent. Requirement 5 . Calculate the budgeted cost of goods sold for blue rugs under each sales assumption. (For amounts with a $0 balance, make sure to enter "0" in the appropriate cell.) Begin by (a) completing the cost of goods sold budget assuming sales of 200,000 rugs, and then (b) complete a cost of goods sold budget assuming sales of 185,000 rugs. rest af Ginnde Snle Rurmat Requirement 6 . Find the budgeted gross margin for blue rugs under each sales assumption. Requirement 6 . Find the budgeted gross margin for blue rugs under each sales assumption. Begin by (a) finding the budgeted gross margin assuming sales of 200,000 rugs, and then (b) finding the budgeted gross margin assuming sales of 185,000 rugs. Requirement 7. What actions might you take as a manager to improve profitability if sales drop to 185,000 blue rugs? If sales drop to 185,000 blue rugs, Xander should look to fixed costs and produce to reduce variable costs and inventory costs. Requirement 8 . How might top management at Xander use the budget developed in requirements 16 to better manage the company? (Select all that apply.)
