Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question Help Austin, Inc. manufactures model airplane kits and projects production at 500, 270, 300, and 450 kits for the next four quarters (Click the

image text in transcribed
image text in transcribed
Question Help Austin, Inc. manufactures model airplane kits and projects production at 500, 270, 300, and 450 kits for the next four quarters (Click the icon to view the manufacturing Information.) Prepare Austin's direct materials budget direct labor budget, and manufacturing overhead budget for the year. Round the direct labor hours needed for production, budgeted overhead costs, and predetermined overhead allocation rate to two decimal places. Round other amounts to the nearest whole number. e nearest whole numbe Austin, Inc. Direct Materials Budget For the Year Ended December 31 First Second Quarter Quarter Third Quarter Fourth Quarter Direct materials (ounces) per kit Direct materials needed for production Choose from any list or enter any number in the input fields and then click Check Answer Check Answer 2 remaining parts 12 of 16 (11 complete) kits and projects production at 500, 270, 300, and 450 kits for the next four quarters. uring information.) 6 More Info Direct materials are 5 ounces of plastic per kit and the plastic costs $5 per ounce. Indirect materials are considered insignificant and are not included in the budgeting process. Beginning Raw Materials Inventory is 930 ounces, and the company desires to end each quarter with 20% of the materials needed for the next quarter's production. Austin desires a balance of 270 ounces in Raw Materials Inventory at the end of the fourth quarter. Each kit requires 0.50 hours of direct labor at an average cost of $25 per hour. Manufacturing overhead is allocated using direct Tabor hours as the allocation base. Variable overhead is $0.50 per kit, and fixed overhead is $140 per quarter. Print Done y number in the input fields and then click Check Answer Clear All MacBook Air 900

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Health Auditing As A Tool For Quality Care Case Studies

Authors: Camila Freire

1st Edition

6206344169, 978-6206344162

More Books

Students also viewed these Accounting questions

Question

Evaluate the impact of unions on nurses and physicians.

Answered: 1 week ago

Question

Describe the impact of strikes on patient care.

Answered: 1 week ago

Question

Evaluate long-term care insurance.

Answered: 1 week ago