Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Required Informetlon Use the following information for the Exercises below Ramos Co. provides the followIng sales forecast and production budget for the next four months:
Required Informetlon Use the following information for the Exercises below Ramos Co. provides the followIng sales forecast and production budget for the next four months: sales (units) Budgeted production (units) 570 518 May 650 640 June 680 61e 670 61e company plans for finished goods Inventory of 190 units at the end of June. In addition, each finlshed unit requires 5 pounds of direct materlals and the company wants to end each month with direct materials inventory equal to 30% of next month's production needs. Beginning direct materials Inventory for April was 765 pounds. Direct materlals cost $2 per pound. Each finished unit requlres 0.30 hours of direct labor at the rate of $23 per hour. The company budgets varlable overhead at the rate of $27 per direct labor hour and budgets fixed overhead of $8,700 per month. Exercise 7-9 Manufacturing: Direct labor and factory overhead budgets LO P1 . 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 1Required 2 Prepare a direct labor budget. (Enter your direct labor hours (hrs.) per unit in two decimal places.) RAMO S CO Direct Labor Budget For April, May, and June April May Budgeted production (units) 510 840 810 units Total labor hours needed Budgeted direct labor cost Required2 > Required Informetlon Use the following information for the Exercises below Ramos Co. provides the followIng sales forecast and production budget for the next four months: Sales (units) Budgeted production (units) April MayJue July 670 61e 57e 650 680 51e 648 61e The company plans for finlshed goods Inventory of 190 units at the end of June. In addition, each finished unit requires 5 pounds of direct materlals and the company wants to end each month with direct materials inventory equal to 30% of next month's production needs. Beginning direct materials Inventory for April was 765 pounds. Direct materlals cost $2 per pound. Each finished unlt requlres 0.30 hours of direct labor at the rate of $23 per hour. The company budgets varlable overhead at the rate of $27 per dlrect labor hour and budgets fixed overhead of $8,700 per month. Exercise 7-9 Manufacturing: Direct labor and factory overhead budgets LO P1 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 1Required 2 Prepare a factory overhead budget for April, May, and June RAMOS co Factory Overhead Budget For April, May, and June April May Total la bor hours needed Budgeted variable overhead Budgeted fixed overhead Total budgeted factory overhead Required 1
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started