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Question: Albert Inc. (the company) needs your help with preparing their operating budgets for the coming year. They have asked you to focus on their

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Question: Albert Inc. ("the company") needs your help with preparing their operating budgets for the coming year. They have asked you to focus on their jacket product line for January, 2021. The following information is available: January estimated sales, 36,000 units. Sales price, $52 per unit. Closing inventory on December 31, 2020, is 3,800 units. Desired ending inventory is 15% of the current month's sales. Each unit requires 0.90 hour of direct labour at a cost of $18 per hour. Each unit is made of 2.0 meters of high quality fabric which costs $14 per metre. The company's inventory policy is to have 1,100 meters of direct materials in inventory at the end of each month. Closing direct material inventory on December 31, 2020, was as expected. The company's variable overhead rate is $16 per direct labour hour. The company's fixed overhead is budgeted at $4,600 per month Required: Based on the Direct Materials Purchases Budget that you created, the total direct materials purchase cost for January is $ Based on the Direct Labour Budget that you created, total hours needed for January hours. are A/ Based on the Direct Labour Budget that you created, total direct labour cost for January is $ A/ Based on the Overhead Budget that you created, total budgeted variable overhead for January is $ Based on the Overhead Budget that you created, total budgeted fixed overhead for January is $ A/ loot that you created, total overhead for January is $ Based on the Overhead Budget that you created, total budgeted fixed overhead for January is $ Based on the Overhead Budget that you created, total overhead for January is $ A The total budgeted PRIME COSTS for the month of January is $

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