Required information Ramos Co provides the following sales forecast and production budget for the next four months April 618 Sales (units) Budgeted production (units) May 0 June 710 July 770 710 The company plans for finished goods inventory of 290 units at the end of June. In addition, each finished unit requires 5 pounds of direct materials and the company wants to end each month with direct materials inventory equal to 20% of next month's production needs. Beginning direct materials inventory for April was 610 pounds. Direct materials cost $2 per pound. Each finished unit requires 0.50 hours of direct labor at the rate of $16 per hour. The company budgets variable overhead at the rate of $20 per direct labor hour and budgets fixed overhead of $9,700 per month Prepare a direct materials budget for April May, and June. RAMOS CO Direct Materials Budget For April May, and June April June Budget production Materials needed for production (12 Total materials requirements (lbs) Materials to be purchased (lbs Materials price per pound Budgeted cost of direct materials purchases Required information Ramos Co provides the following sales forecast and production budget for the next four months: April Sales (units) Budgeted production (units) 670 May 750 740 June 780 710 July 770 21 610 The company plans for finished goods inventory of 290 units at the end of June. In addition, each finished unit requires 5 pounds of direct materials and the company wants to end each month with direct materials inventory equal to 20% of next month's production needs. Beginning direct materials inventory for April was 610 pounds. Direct materials cost $2 per pound. Each finished unit requires 0.50 hours of direct labor at the rate of $16 per hour. The company budgets variable overhead at the rate of $20 per direct labor hour and budgets fixed overhead of $9,700 per month 1. Prepare a direct labor budget. 2. Prepare a factory overhead budget for April May, and June. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a direct labor budget. (Enter your direct labor hours hrs) per unit in two decimal places. RAMOS CO. Direct Labor Budget For April, May, and June April May Budgeted production (units) Total labor hours needed Budgeted direct labor cost Required 2 > Required information Ramos Co. provides the following sales forecast and production budget for the next four months Sales (units) Budgeted production (units) The company plans for finished goods inventory of 290 units at the end of June. In addition, each finished unit requires 5 pounds of direct materials and the company wants to end each month with direct materials inventory equal to 20% of next month's production needs. Beginning direct materials inventory for April was 610 pounds. Direct materials cost $2 per pound. Each finished unit requires 0.50 hours of direct labor at the rate of $16 per hour. The company budgets variable overhead at the rate of $20 per direct labor hour and budgets fixed overhead of $9.700 per month 1. Prepare a direct labor budget. 2. Prepare a factory overhead budget for April, May, and June Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a factory overhead budget for April, May, and June RAMOS CO. Factory Overhead Budget For April, May, and June April June Total labor hours need Budgeted variable overhead Budgeted foed overhead Total budgeted factory overhead Required information Ruiz Co provides the following sales forecast for the next four months: Sales (units) April 680 May 760 June 710 800 The company wants to end each month with ending finished goods inventory equal to 30% of next month's forecasted sales. Finished goods inventory on April 1 is 204 units. Assume July's budgeted production is 710 units. In addition, each finished unit requires six pounds (lbs.) of raw materials and the company wants to end each month with raw materials inventory equal to 20% of next month's production needs. Beginning raw materials inventory for April was 845 pounds. Assume direct materials cost $6 per pound. Prepare a production budget for the months of April, May, and June. RUIZ CO. Production Budget For April, May, and June 1 April Next month's budgeted sales (units) 760 Ratio of inventory to future sales May June Required units of available production Units to be produced
