Question Help Austin Company makes and sells artistic frames for pictures of weddings, graduations, and other special events. Ron Kyler, the controller, is responsible for preparing Austin's master budget and has accumulated the following information for 2018: Click the icon to view some of the financial Information.) Click the icon to view additional information) Read the requirements Requirement 1. Prepare a production budget and a direct manufacturing labor cost budget for Austin Company by month and for the first quarter of 2018. You may combine both budgets in one schedule. The direct manufacturing labor cost budget should include labor hours and show the details for each labor con category Start the schedule by preparing the production budget and calculating the total hours of direct manufacturing labor time needed for the three months in the quarter, then calculate the values for the quarter. Finish by preparing the bottom portion of the schedule for the direct manufacturing labor by month, then quarter. (Enter the direct manufacturing labor hours per unit to one decimal place, XX. Do not round Interim calculations, and then enter all amounts in the budget other than the direct manufacturing labor hours per un to the nearest whole number.) Austin Company Budget for Production and Direct Manufacturing Labor For the Quarter Ended March 31, 2018 January February March Quarter Budgeted sales unit) Add targetending frihed goods invertory (ute) Total requirements units) Deduct beginning finished goods inventory (units) Units to be produced Direct manufacturing labor hours per unit Total hours of direct manufacturing labor time rended Choose from any list or enter any number in the input fields and then continue to the next question Save for Later Question Help Austin Company makes and sells artista frames for pictures of weddings, graduations, and other special events. Ron kyer, the controller, is responsible for preparing Austin's master budget and has accumulated the following information for 2018: (Click the loon to view some of the financial information) Click the icon to view additional information.) Read the requirements Total hours of direct Requirements bor time needed Direct manufacturing labor costs: Wages Pension contributions Workers' compensation insurance Employee medical insurance Social Security tax (employer's share) Total direct manufacturing labor costs Requirement 2. What action has the budget process prompted Austin's management to take? (Select all that apply) Austin's management would look for ways to Requirement 3. How might Austin's managers use the budget developed in requirement to better manage the company? Austin's management should work with employees to Choose from any list or enter any number in the input fields and then continue to the next question Save for Later More Info the Austin Company makes and sols artistic frames for pictures of weddings, graduations, and other special events, Ron following information for 2018: (Click the icon to view some of the financial information.) (Click the loon to view additional information) Read the requirements Total hours of direct manufacturing labor time needed Direct manufacturing labor costs: Wages In addition to wages, direct manufacturing labor related costs include pension contributions of $0.50 per hour, worker's compensation insurance of $0.20 per hour, employee medical insurance of $0.30 per hour and Social Security taxes Assume that as of January 1, 2018, the Social Security tax rates are 7.5% for employers and 7.5% for employees. The cost of employee benefits paid by Austin on its direct manufacturing employees is treated as a direct manufacturing labor cost. Austin has a labor contract that calls for a wage increase to $13 per hour on April 1, 2018. New labor saving machinery has been installed and will be fully operational by March 1, 2018 Austin expects to have 23,000 frames on hand at December 31, 2017, and has a policy of carrying an end of month inventory of 100% of the following month's sales plus 50% of the second following month's Data Table Print Done 2018 January February March 16,000 19,000 8,000 $ 57.00 $ 50.50 $ 50 50 $ 3.5 3.5 1.0 $ 8.00 $ 8.00 $ 8.00 $ April 12.000 50.50 Estimated sales in units Selling price Direct manufacturing labor hours per unit Winge per direct manufacturing labor hour May 12,000 50.50 10 1.0 13.00 13.00 $ Print Done Choose from any list or enter any number in the input fields and then continue to the next question Save for Later Question Help Austin Company makes and sells artistic frames for pictures of weddings, graduations, and other special events. Ron Kyler, the controller, is responsible for preparing Austin's master budget and has accumulated the following information for 2018: Click the icon to view some of the financial Information.) Click the icon to view additional information) Read the requirements Requirement 1. Prepare a production budget and a direct manufacturing labor cost budget for Austin Company by month and for the first quarter of 2018. You may combine both budgets in one schedule. The direct manufacturing labor cost budget should include labor hours and show the details for each labor con category Start the schedule by preparing the production budget and calculating the total hours of direct manufacturing labor time needed for the three months in the quarter, then calculate the values for the quarter. Finish by preparing the bottom portion of the schedule for the direct manufacturing labor by month, then quarter. (Enter the direct manufacturing labor hours per unit to one decimal place, XX. Do not round Interim calculations, and then enter all amounts in the budget other than the direct manufacturing labor hours per un to the nearest whole number.) Austin Company Budget for Production and Direct Manufacturing Labor For the Quarter Ended March 31, 2018 January February March Quarter Budgeted sales unit) Add targetending frihed goods invertory (ute) Total requirements units) Deduct beginning finished goods inventory (units) Units to be produced Direct manufacturing labor hours per unit Total hours of direct manufacturing labor time rended Choose from any list or enter any number in the input fields and then continue to the next question Save for Later Question Help Austin Company makes and sells artista frames for pictures of weddings, graduations, and other special events. Ron kyer, the controller, is responsible for preparing Austin's master budget and has accumulated the following information for 2018: (Click the loon to view some of the financial information) Click the icon to view additional information.) Read the requirements Total hours of direct Requirements bor time needed Direct manufacturing labor costs: Wages Pension contributions Workers' compensation insurance Employee medical insurance Social Security tax (employer's share) Total direct manufacturing labor costs Requirement 2. What action has the budget process prompted Austin's management to take? (Select all that apply) Austin's management would look for ways to Requirement 3. How might Austin's managers use the budget developed in requirement to better manage the company? Austin's management should work with employees to Choose from any list or enter any number in the input fields and then continue to the next question Save for Later More Info the Austin Company makes and sols artistic frames for pictures of weddings, graduations, and other special events, Ron following information for 2018: (Click the icon to view some of the financial information.) (Click the loon to view additional information) Read the requirements Total hours of direct manufacturing labor time needed Direct manufacturing labor costs: Wages In addition to wages, direct manufacturing labor related costs include pension contributions of $0.50 per hour, worker's compensation insurance of $0.20 per hour, employee medical insurance of $0.30 per hour and Social Security taxes Assume that as of January 1, 2018, the Social Security tax rates are 7.5% for employers and 7.5% for employees. The cost of employee benefits paid by Austin on its direct manufacturing employees is treated as a direct manufacturing labor cost. Austin has a labor contract that calls for a wage increase to $13 per hour on April 1, 2018. New labor saving machinery has been installed and will be fully operational by March 1, 2018 Austin expects to have 23,000 frames on hand at December 31, 2017, and has a policy of carrying an end of month inventory of 100% of the following month's sales plus 50% of the second following month's Data Table Print Done 2018 January February March 16,000 19,000 8,000 $ 57.00 $ 50.50 $ 50 50 $ 3.5 3.5 1.0 $ 8.00 $ 8.00 $ 8.00 $ April 12.000 50.50 Estimated sales in units Selling price Direct manufacturing labor hours per unit Winge per direct manufacturing labor hour May 12,000 50.50 10 1.0 13.00 13.00 $ Print Done Choose from any list or enter any number in the input fields and then continue to the next question Save for Later