Requirement 2: The company wants to have B % (as calculated below) of the flower pots that are expected to be sold he following month on hand at the end of each month. There were 80 flower pots on hand at the end of March. B. Multiply your lowest digit (other than 0) from your student ID number above by 10 and insert in the in the box provided: 20 Complete the Production Budget for April - June and the quarter in total. Production Budget ales in units Desired ending inventory Cotal required Beginning inventory Cotal units to produce April 900 198 1,098 May 990 218 1,208 198 1,010 June 1,089 240 1,329 218 Hint: You will need to calculate July's sales Total in units in order to calculate the desired ending 2,979 inventory for June. 240 3,219 165 80 1,018 1,111 3,054 Hint: The next three budgets are all manufacturing cost budgets, and use units to be produced, not sold. Requirement 3: The standard quantity of polyresin in 4 lbs. per pot. The standard price for polyresin in $4 per lb. The company wants to always have 20% of the materials required for the following month en hand at the end of each month. At the end of March, there was 200 pounds of polyresin on hand. (April's beginning inventory) Complete the direct materials purchases budget for April - June and the quarter in total. equirement 6: elling costs are $2.00 per flower pot. Administrative costs are all fixed and consist of monthly depreciation of $500, billing and ccounting costs of $ 2,000 and other administrative costs of $800. omplete the Operating Expense Budget below: April May June Total Hint: Use units to be sold, not pro $ $ 900 20 $ 1,800 $ 990 2 $ 1,980 $ 1,089 2 $ 2,178 $ 2,979 2 5,958 perating Expense Budget ariable Selling Expenses nits to be sold elling cost per unit sold otal variable selling expenses ixed Administrative Expenses Depreciation Billing and accounting Other administrative costs otal fixed administrative otal Operating Expenses $ 500 2,000 500 $ 2,000 800 3,300 $ 5,100 $ 500 $ 2,000 800 3,300 $ 5,280 $ 800 1,500 6,000 2,400 9,900 15,858 $ $ 3,300 5,478 $ equirement 7: alculate manufacturing cost per unit at your projected volume of production: Requirement 5: Each flower pot requires $3 of indirect materials (variable MOH). Fixed manufacturing overhead consists of depreciation of $1,000 per month, utilities of $600 per month, the suprevisor's salary of $4,000 per month, and other fixed costs of $1,500 per month Complete the Manufacturing Overhad Budget below: April May June Total 3,054 1,018 3 | $ 3,054 $ 1,010 3 $ 3,030 $ 1,111 3 $ 3,333 $ $ Manufacturing Overhead Budget Variable Overhead Units to be produced Variable overhead per unit Total variable overhead Fixed Overhead Depreciation Supervisor's salary Factory utilities Other Total fixed overhead Total Manufacturing Overhead $ $ 1,000 4,000 600 1,500 7,100 10,154 1,000 $ 4,000 600 1,500 7,100 $ 10,130 $ 1,000 $ 4,000 600 1,500 7,100 $ 10,433 $ 3,000 12,000 1,800 4,500 21,300 30,462 $ $ $ $ Requirement 6: Selling costs are $2.00 per flower pot. Administrative costs are all fixed and consist of monthly depreciation of $500, billing and accounting costs of $2,000 and other administrative costs of $800. Requirement 4: The standard labor rate is $18 per hour and the standard time for each pot is 1 hour. Complete the Direct Labor Budget below: Direct Labor Budget Units to be produced DL hours per unit Total DL hours DL rate per hour Total cost of DL April 1,018 1.0 1,018 18 | $ 18,324 $ May 1,010 1.0 1,010 18 | $ 18,180 $ June 1,111 1.0 1,111 18 | $ 19,998 $ Total 3,054 1.0 3,054 18 54,972 R $ $ Requirement 5: Each flower pot requires $3 of indirect materials (variable MOH). Fixed manufacturing overhead consists of depreciation of $1,000 per month, utilities of $600 per month, the suprevisor's salary of $4,000 per month, and other fixed costs of $1,500 per month Complete the Manufacturing Overhad Budget below: Requirement 3: The standard quantity of polyresin in 4 lbs. per pot. The standard price for polyresin in $4 per lb. The company wants to always have 20% of the materials required for the following month on hand at the end of each month. At the end of March, there was 200 pounds of polyresin on hand. (April's beginning inventory) Complete the direct materials purchases budget for April - June and the quarter in total. | April 1,018 May 1,010 June | 1,111 Hint: You will need to calculate units to be Total produced for July in order to calculate the 3,054 material needs for June. 4,444 12,216 4,072 808 4,040 889 Direct Materials Purchases Budget Units to be produced Pounds of DM per unit produced Total needed for production Desired ending inventory Total material requirement Beginning inventory Total pounds to purchase Cost per pound Total cost of DM Requirement 4: The standard labor rate is $18 per hour and the standard time for each pot is 1 hour. Complete the Direct Labor Budget below: Requirement ?! Calculate manufacturing cost per unit at your projected volume of production: $ 900.00 $ 1.00 DM Cost per unit DL Cost per unit Variable MOH per unit Total Fixed MOH Units to be produced Fixed MOH per unit Total Manufacturing Cost per Unit Used to determine COGS below Requirement 8: Prepare the budgeted income statement for the quarter ending June 30 below: Perfect Pots, Inc. Budgeted Income Statement Quarter Ending June 30 Sales Cost of Golds Sold Hint: COGS is based on units sold, not produced. Use the manufacturing cost per unit calculated above and the units to be sold. Gross Margin Operating Expenses Requirement 8: Prepare the budgeted income statement for the quarter ending June 30 below: Perfect Pots, Inc. Budgeted Income Statement Quarter Ending June 30 Sales Cost of Golds Sold Hint: COGS is based on units sold, not produced. Use the manufacturing cost per unit calculated above and the units to be sold. Gross Margin Operating Expenses Selling Administrative Total operating expenses Operating Income Requirement 2: The company wants to have B % (as calculated below) of the flower pots that are expected to be sold he following month on hand at the end of each month. There were 80 flower pots on hand at the end of March. B. Multiply your lowest digit (other than 0) from your student ID number above by 10 and insert in the in the box provided: 20 Complete the Production Budget for April - June and the quarter in total. Production Budget ales in units Desired ending inventory Cotal required Beginning inventory Cotal units to produce April 900 198 1,098 May 990 218 1,208 198 1,010 June 1,089 240 1,329 218 Hint: You will need to calculate July's sales Total in units in order to calculate the desired ending 2,979 inventory for June. 240 3,219 165 80 1,018 1,111 3,054 Hint: The next three budgets are all manufacturing cost budgets, and use units to be produced, not sold. Requirement 3: The standard quantity of polyresin in 4 lbs. per pot. The standard price for polyresin in $4 per lb. The company wants to always have 20% of the materials required for the following month en hand at the end of each month. At the end of March, there was 200 pounds of polyresin on hand. (April's beginning inventory) Complete the direct materials purchases budget for April - June and the quarter in total. equirement 6: elling costs are $2.00 per flower pot. Administrative costs are all fixed and consist of monthly depreciation of $500, billing and ccounting costs of $ 2,000 and other administrative costs of $800. omplete the Operating Expense Budget below: April May June Total Hint: Use units to be sold, not pro $ $ 900 20 $ 1,800 $ 990 2 $ 1,980 $ 1,089 2 $ 2,178 $ 2,979 2 5,958 perating Expense Budget ariable Selling Expenses nits to be sold elling cost per unit sold otal variable selling expenses ixed Administrative Expenses Depreciation Billing and accounting Other administrative costs otal fixed administrative otal Operating Expenses $ 500 2,000 500 $ 2,000 800 3,300 $ 5,100 $ 500 $ 2,000 800 3,300 $ 5,280 $ 800 1,500 6,000 2,400 9,900 15,858 $ $ 3,300 5,478 $ equirement 7: alculate manufacturing cost per unit at your projected volume of production: Requirement 5: Each flower pot requires $3 of indirect materials (variable MOH). Fixed manufacturing overhead consists of depreciation of $1,000 per month, utilities of $600 per month, the suprevisor's salary of $4,000 per month, and other fixed costs of $1,500 per month Complete the Manufacturing Overhad Budget below: April May June Total 3,054 1,018 3 | $ 3,054 $ 1,010 3 $ 3,030 $ 1,111 3 $ 3,333 $ $ Manufacturing Overhead Budget Variable Overhead Units to be produced Variable overhead per unit Total variable overhead Fixed Overhead Depreciation Supervisor's salary Factory utilities Other Total fixed overhead Total Manufacturing Overhead $ $ 1,000 4,000 600 1,500 7,100 10,154 1,000 $ 4,000 600 1,500 7,100 $ 10,130 $ 1,000 $ 4,000 600 1,500 7,100 $ 10,433 $ 3,000 12,000 1,800 4,500 21,300 30,462 $ $ $ $ Requirement 6: Selling costs are $2.00 per flower pot. Administrative costs are all fixed and consist of monthly depreciation of $500, billing and accounting costs of $2,000 and other administrative costs of $800. Requirement 4: The standard labor rate is $18 per hour and the standard time for each pot is 1 hour. Complete the Direct Labor Budget below: Direct Labor Budget Units to be produced DL hours per unit Total DL hours DL rate per hour Total cost of DL April 1,018 1.0 1,018 18 | $ 18,324 $ May 1,010 1.0 1,010 18 | $ 18,180 $ June 1,111 1.0 1,111 18 | $ 19,998 $ Total 3,054 1.0 3,054 18 54,972 R $ $ Requirement 5: Each flower pot requires $3 of indirect materials (variable MOH). Fixed manufacturing overhead consists of depreciation of $1,000 per month, utilities of $600 per month, the suprevisor's salary of $4,000 per month, and other fixed costs of $1,500 per month Complete the Manufacturing Overhad Budget below: Requirement 3: The standard quantity of polyresin in 4 lbs. per pot. The standard price for polyresin in $4 per lb. The company wants to always have 20% of the materials required for the following month on hand at the end of each month. At the end of March, there was 200 pounds of polyresin on hand. (April's beginning inventory) Complete the direct materials purchases budget for April - June and the quarter in total. | April 1,018 May 1,010 June | 1,111 Hint: You will need to calculate units to be Total produced for July in order to calculate the 3,054 material needs for June. 4,444 12,216 4,072 808 4,040 889 Direct Materials Purchases Budget Units to be produced Pounds of DM per unit produced Total needed for production Desired ending inventory Total material requirement Beginning inventory Total pounds to purchase Cost per pound Total cost of DM Requirement 4: The standard labor rate is $18 per hour and the standard time for each pot is 1 hour. Complete the Direct Labor Budget below: Requirement ?! Calculate manufacturing cost per unit at your projected volume of production: $ 900.00 $ 1.00 DM Cost per unit DL Cost per unit Variable MOH per unit Total Fixed MOH Units to be produced Fixed MOH per unit Total Manufacturing Cost per Unit Used to determine COGS below Requirement 8: Prepare the budgeted income statement for the quarter ending June 30 below: Perfect Pots, Inc. Budgeted Income Statement Quarter Ending June 30 Sales Cost of Golds Sold Hint: COGS is based on units sold, not produced. Use the manufacturing cost per unit calculated above and the units to be sold. Gross Margin Operating Expenses Requirement 8: Prepare the budgeted income statement for the quarter ending June 30 below: Perfect Pots, Inc. Budgeted Income Statement Quarter Ending June 30 Sales Cost of Golds Sold Hint: COGS is based on units sold, not produced. Use the manufacturing cost per unit calculated above and the units to be sold. Gross Margin Operating Expenses Selling Administrative Total operating expenses Operating Income