Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

PR 22-2A Sales, production, direct materials purchases, and direct labor cost budgets The budget director of Gourmet Grill Company requests estimates of sales, production, and

image text in transcribed
PR 22-2A Sales, production, direct materials purchases, and direct labor cost budgets The budget director of Gourmet Grill Company requests estimates of sales, production, and other operating data from the various administrative units every month. Selected information concerning sales and production for July is summarized as follows: a. Estimated sales for July by sales territory: Maine: Backyard Chef 350 units at $725 per unit Master Chef 200 units at $1,200 per unit Vermont: Backyard Chef 300 units at $800 per unit Master Chef 150 units at $1,325 per unit New Hampshire: Backyard Chef 400 units at $800 per unit Master Chef 200 units at $1,425 per unit b. Estimated inventories at July 1: Direct materials: Finished products: Grates . . . . . . . . . . 290 units Backyard Chef . . . . . . . . . ... 30 units Stainless steel. 1,500 lbs. Master Chef. . ..... 32 units Burner subassemblies . 170 units Shelves. 340 units c. Desired inventories at July 31: Direct materials Finished products Grates . . . . . . . . .... 340 units Backyard Chef . .. . . . . . .... 40 units Stainless steel. . 1,800 lbs Master Chef. . . . . . 22 units Burner subassemblies 155 units Shelves. . ... . . . ... 315 units d. Direct materials used in production: In manufacture of Backyard Chef: Grates . . . . . . . .. 3 units per unit of product Stainless steel. . 24 lbs. per unit of product Burner subassemblies . 2 units per unit of product Shelves. .. . . .. .. . ...; . . . . . 4 units per unit of product In manufacture of Master Chef Grates . . 6 units per unit of product Stainless steel. . 42 lbs. per unit of product Burner subassemblies 4 units per unit of product Shelves. . . . . 5 units per unit of product e. Anticipated purchase price for direct materials Grates . . . . . . . .. $15 per unit Burner subassemblies . $110 per unit Stainless steel. . . . $6 per lb. Shelves . . . . . . . . . . . .. $10 per unit Direct labor requirements: Backyard Chef: Stamping Department. ... 0.50 hr. at $17 per hr. Forming Department ..... 0.60 hr. at $15 per hr. Assembly Department. . . . . . 1.00 hr. at $14 per hr. Master Chef: Stamping Department.. 0.60 hr. at $17 per hr. Forming Department ... 0.80 hr. at $15 per hr. Assembly Department. .. . 1.50 hrs. at $14 per hr. (Continued) Instructions 1. Prepare a sales budget for July. 2. Prepare a production budget for July. 3. Prepare a direct materials purchases budget for July. 4. Prepare a direct labor cost budget for July. Page 2 of 2

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

Financial Accounting Tools For Business Decision Making

Authors: Paul D. Kimmel,  Jerry J. Weygandt,  Jill E. Mitchell

10th Edition

1119791081, 978-1119791089

More Books

Students also viewed these Accounting questions

Question

Self-confidence

Answered: 1 week ago

Question

The number of people commenting on the statement

Answered: 1 week ago