* Question 1 Riveted Inc. is preparing its annual budgets for the year ending December 31, 2017. Accounting as stants furnish the data shown below. Product JB 50 Product JB 60 201,200 402,300 $22 27,700 31,800 19,300 11,100 Sales budget Anticipated volume in unis Unit selling price Production budget Desired ending finished goods units Beginning inished goods unks Direct materials budget: Direct materials per unit (pounds) Desired ending direct materials pounds Beginning direct materials pounds Cost per pound Direct labor budet: Direct labor time per unit Direct labor rate per hour Budgeted come statement: Tunt oost 1 34,700 44,900 $3 3 19,800 14,700 $3 0.3 $12 0.6 $12 $13 $22 An accounting assistant has prepared the detailed manufacturing overhead budget and the selling and administrative expense budget. The latter shows seling expenses of $652,000 for product JB 50 ard $363,000 for product JB 60, and administrathe expenses of $544,000 for product 38 50 and $343,000 for product je GO. Interest expenses $150,000 (not allocated to products). Income taxes are expected to be 30% Question 1 Your answer is corect Prepare the sales budget for the year RIVERSED IN For the Year E-ding December 31, 2013 30 50 JS 60 Total Expected unit sales 1432500 201206 unseling price SUZ Total sales SCOLI 95432400 914270 Attempts: 2 of 10 used Question 1 Your answers to Prepare the production budget for the year. RIVERBEDING Portre Year Ending December 31, 2017 JB 50 JB 60 expected Unt Sales 1632.500 201200 14dc) Desred Ending Finished Goods Unt 27,700 19,300 Total Required Urit 430200 220500 Less Beginn ng Finished Goods URES 131,800 1.1,100 Required Production Units 1398400 201400 S Attempts: 9 of 10 used Question 1 Your answer is COTEC. Prepare the direct materials budget for the year. RIVERBED INC. Di Mallas Budget the Year Ending ember 31, 2017 38 50 JB 60 Total Tunes to be Prodkord 93400 4209030 Direct Materials per un 3 Total Pounds needed for production 393400 628290 1400 pesred Endrg Direct Materials 34700 L8800 Total Materials Required 1433100 47000 Less Beginnng Dract Material 14730 Direct Materials Purchases) 3388200 9632300 Cooper Pourd 3.CO 43.00 Total Cost of Direct Materials Purchases 91164500.00 806903.50 3061500.00 Attempts: 2 of 10 used Question 1 Prepare the direct labor budget for the year. (Round Direct labor time per unit answers to I decimal place, e.g. 52.7.) RIVERED IN JB 50 3B 60 Total
