Production Direct Mtis Sales Budget Direct Lbr Factory OH Selling Exp Admin Exp Cost of Income Budget Budget Budget Budget Budget Budget Goods Sold Statement Requirement: Prepare the Sales Budget for Plum Inc.. Sales for the final quarter of the prior year total 2,400 units. Expected sales (in units) for the current year are: 2,160 (Quarter 1), 1,440 (Quarter 2), 1,920 (Quarter 3), and 1,920 (Quarter 4). Sales for the first quarter of the following year total 2,880 units. The selling price is $570 per unit in the first three quarters of the year, and $600 per unit in the final quarter. Show less Plum Inc. Sales Budget 2018 First Otr. Second Qtr. Third Qtr. Fourth Qtr. Total 2,1601 1,440 1,930 1,920 570 $ 570 $ 570 $ 570 1,231,200 $ 820,800 $ 1,100,100 $ 1,094,400 $ 4.246,500 Budgeted sales (units) Selling price per unit Total budgeted sales (dollars) $ Production Budget > Production Direct Muls Direct Lbr Factory OH Selling Exp Admin Exp Cost of Income Sales Budget Budget Budget Budget Budget Budget Budget Goods Sold Statement Requirement: Prepare the production budget for Plum Inc.. Company policy calls for a given quarter's ending finished goods Inventory to equal 90% of the next quarter's expected unit sales. The finished goods Inventory at the end of the prior year is 1,944 units, which complies with the policy. Expected sales (in units) for the current year are: 2,160 (Quarter 1), 1,440 (Quarter 2), 1,920 (Quarter 3), and 1,920 (Quarter 4). Sales for the first quarter of the following year total 2,880 units. Show less Plum Inc. Production Budget For the year ended December 31, 2018 First Qtr. Second Qtr. Third Otr Fourth Qtr. Total Budgeted sales (units) Ratio of inventory to future sales Budgeted ending inventory (units) Required units of available production Units to be produced Production Budget Sales Budget Direct Mols Budget Direct Lbr Budget Factory OH Selling Exp Admin Exp Budget Budget Budget Cost of Income Goods Sold Statement Requirement Prepare the Direct Materials Budget for Plum Inc. Company. Company policy calls for a given quarter's ending raw materials inventory to equal 50% of next quarter's expected materials needed for production. The prior year-end Inventory is 3,024 lbs of materials, which complies with the policy. The company expects to have 5,760 lbs. of materials in Inventory at year-end. The product's manufacturing cost is $127 per unit, including per unit costs of $56 for materials (4 lbs. at $14 per lb.), $40 for direct labor (2 hours x $20 direct labor rate per hour), $23 for variable overhead, and $8 for fixed overhead. Show less Plum Inc Direct Materials Budget For the year ended December 31, 2010 Finstar Second Otr Third Qur. Total Fourth atr Budgeted fixed overhead Budgeted beginning inventory (units) Materials needed for production (pounds) Budgeted ending inventory (units) Total materials requirements (pounds) Budgeted beginning RM inventory (pounds) Materials to be purchased (pounds) Material price per pound Total cost of direct materials purchases Sales Budget Production Budget Direct Mtis Budget Direct Lbr Factory OH Selling Exp Admin Exp Budget Budget Budget Budget Cost of Income Goods Sold Statement Requirement Prepare the Direct Labor Budget for Plum Inc.. The product's manufacturing cost is $127 per unit, including per unit costs of $56 for materials (4 lbs. at $14 per lb.), $40 for direct labor (2 hours x $20 direct labor rate per hour), $23 for variable overhead, and $8 for fixed overhead. Plum Inc Direct Labor Budget For the year ended December 31, 2018 First Qtr. Second Qur Third Qtr. Fourth otr Total Direct labor requirements per unit (hours) Total direct labor hours nooded Total budgeted direct labor cost (dollars) Sales Budget Production Budget Direct Mtis Budget Direct Lbr Budget Factory OH Selling Exp Admin Exp Budget Budget Budget Cost of Income Goods Sold Statement Requirement Prepare the Factory Overhead Budget for Plum Inc.. The product's manufacturing cost is $127 per unit, including per unit costs of $56 for materials (4 lbs. at $14 per Ib.), $40 for direct labor (2 hours x $20 direct labor rate per hour), $23 for variable overhead, and $8 for fixed overhead. Annual fixed overhead consists, incurred evenly throughout the year, consist of depreciation on production equipment, $25,900; factory utilities, $32,400, and other factory overhead of $6,404. Show less Plumine Factory Overhead Budget For the year ended December 31, 2018 First Qtr. Second Qur. Third Qtr. Fourth Qtr. Total $ Budgeted production (units) Variable factory overhead rate Budgeted variable overhead Budgeted fixed overhead Budgeted total overhead $ 23.00 $ 34,776 $ 8 46,8727 s 23.00 $ 43,056 $ 8 23.00 $ 44,160 $ 8 59,520 $ 23.00 $ 64,032 $ 8 23.00 186,024 32 $ 58,0327 $ 86304 $ 250.728