Question 3 of 3 -/5 E Charles Taylor, Sunland & Taylor Fabricators' production manager, has just received the company's sales budget for the first quarter: January February March Quarter 22,000 25,000 32,000 79,000 5,000 6,400 6,800 6,800 Budgeted unit sales Budgeted ending inventory Total units required Beginning inventory Budgeted production 27,000 31,400 38,800 85,800 3,200 5,000 6,400 3,200 23,800 26,400 32,400 82,600 Its manufacturing overhead budget for the first quarter is as follows: January February March Quarter DLH worked 4,760 5,280 6,480 16,520 VOH per DLH $1.75 $1.75 $1.75 $1.75 8,330 9,240 11,340 28,910 Budgeted VOH Budgeted FOH 98,800 98,800 98,800 296,400 Total Budgeted MOH 107,130 108,040 110,140 325,310 Noncash MOH items Depreciation 31,000 31.000 31,000 93,000 Total Cash MOH cost $76,130 $77,040 $79,140 $232,310 He also has received the direct materials purchases budget and direct labor budget which were as follows: January February March Quarter April Budgeted production 23,800 26,400 32,400 82,600 32,400 Standard pounds per unit x 6 x 6 X 6 X 6 X 6 Production needs 142,800 158,400 194,400 495,600 194,400 Budgeted ending inventory 15,840 19,440 19,440 19,440 Question 3 of 3 -/5 E January February March Quarter April Budgeted production 23,800 26,400 32,400 82,600 32,400 x 6 x 6 X 6 x 6 x 6 Standard pounds per unit Production needs Budgeted ending inventory 142,800 158,400 194,400 495,600 194,400 15,840 19,440 19,440 19,440 Total DM required (lbs.) 158,640 177,840 213,840 515,040 12,000 15,840 19,440 12,000 Beginning inventory Budgeted purchases (lbs.) Standard cost per pound 146,640 162,000 194,400 503,040 $1.00 $1.00 $1.00 $1.00 Budgeted purchases cost $146,640 $162,000 $194,400 $503,040 January February March Quarter Budgeted production 23,800 26,400 32,400 82,600 x 0.20 x 0.20 x 0.20 x0.20 Standard DLH per unit Total DLH required Standard wage rate 4,760 5.280 6,480 16,520 * $20 x $20 * $20 * $20 X Budgeted DL cost $95,200 $105,600 $129,600 $330,400 Joshua plans to have 3,200 finished bricks at a cost of $47,000 in inventory at the beginning of the year. The company applies manufacturing overhead based on direct labor hours, and the current predetermined rates are $12.25 per direct labor hour for fixed manufacturing overhead and $1.75 per direct labor hour for variable manufacturing overhead. Prepare Sunland & Hill's ending inventory and cost of goods sold budget for the first quarter. Assuming that the company has no beginning and ending WIP inventory. (Round unit cost to 2 decimal places, e.g. 5.33 & all other answers to decimal places, e.g. 5,275.) Direct Materials $ Question 3 of 3 -/5 III Direct Materials $ $ Finished Goods Inventory > $ S Cost of Goods Sold > > V $
