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Please show me how it's done. Thank you. - X Data table Direct materials Metal Fabric $ 2 per pound (same as in 2019) $
Please show me how it's done.
Thank you.
- X Data table Direct materials Metal Fabric $ 2 per pound (same as in 2019) $ 3 per yard (same as in 2019) $ 17 per hour Direct manufacturing labor Content of Each Product Unit Product Knox Ayer Metal 3 pounds 4 pounds 2.00 yards Fabric 1.00 yard Direct manufacturing labor 0.10 hours 0.25 hours Direct Materials Metal Fabric Beginning inventory Target ending inventory 15,000 pounds 13,000 pounds 3,000 yards 1,000 yards Print Done Data table Schedule 2: Production Budget (in Units) for the Year Ending December 31, 2020 Knox Ayer Budgeted units sales 17,800 2,100 15,000 1,100 Add target ending finished goods inventory Total required units 19,900 2,900 16,100 1,100 Deduct beginning finished goods inventory 17,000 15,000 Units of finished goods to be produced Print Done (a). Begin by calculating the direct materials usage budget in quantity and then in dollars (label it Schedule 3A) for the year ending December 31, 2020. Schedule 3A: Direct Material Usage Budget in Quantity and Dollars for the Year Ending December 31, 2020 Material Metal Fabric Total Physical Units Budget Direct materials required for Knox lamps 51,000 lbs. 60,000 lbs. Direct materials required for Ayer lamps 17,000 yards 30,000 yards 47,000 yards 111,000 lbs. Total quantity of direct materials to be used Cost Budget Available from beginning direct materials inventory (under a FIFO cost-flow assumption) Metal 30,000 Fabric 9,000 To be purchased and used this period Metal Fabric MO Direct materials to be used this period Firelight Corporation manufactures and sells two types of decorative lamps, Knox and Ayer. It expects to manufacture 17,000 Knox lamps and 15,000 Ayer lamps in 2020. The following data are available for the year 2020. (Click the icon to view the information.) (Click the icon to view the December 31, 2020 production budget in units.) Calculate (a) the direct materials usage budget in quantity and dollars (label it Schedule 3A); (b) the direct materials purchase budget in quantity and dollars (label it Schedule 3B); and (c) the direct manufacturing labor costs budget (label it Schedule 4) for the year ending December 31, 2020Step by Step Solution
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