Sorry, there is two more questions in this big question, can you help me with it? And for the question no. 4 you missed the total cost of raw-material purchases in the second part.
Problem 9-39 Preparation of Master Budget (LO 9-3, 9-4, 9-5, 9-6) [The following information applies to the questions displayed below.] Edgeworth Box Corporation manufactures two types of cardboard boxes used in shipping canned food, fruit, and vegetables. The canned food box (type C) and the perishable food box (type P) have the following material and labor requirements. Type of Box C P Direct material required per 100 boxes: Corrugating medium ($0.20 per pound) 35 pounds 45 pounds Paperboard ($0.40 per pound) 45 pounds 85 pounds Direct labor required per 100 boxes ($20.00 per 0.30 hour 0.60 hour hour) The unit production costs for each product are expected to be the same this year and next year. The following production-overhead costs are anticipated for the next year. The predetermined overhead rate is based on a production volume of 460,000 units for each type of box. Production overhead is applied on the basis of direct-labor hours. Indirec t material Indirec t labor Utilitie s Proper ty taxes Insura nce Depre ciation Total $ 13,950 88,450 43,500 29,000 22,000 51,500 $ 248,400 The following selling and administrative expenses are anticipated for the next year. Salaries and fringe benefits of sales personnel Advertising Management salaries and fringe benefits Clerical wages and fringe benefits Miscellaneous administrative expenses $ 133,500 29,500 149,000 46,000 7,400 Total $ 365,400 The sales forecast for the next year is as follows: Box type C Sales Volume Sales Price boxes per hundred boxes 465,000 $135 Box type P 465,000 boxes 195 per hundred boxes The following inventory information is available for the next year. Expected Inventory January 1 Finished goods: Box type C Box type P Raw material: Corrugating medium Paperboard 13,500 boxes 23,500 boxes Desired Ending Inventory December 31 8,500 boxes 18,500 boxes 6,000 pounds 11,000 pounds 15,000 pounds 5,000 pounds Prepare a master budget for Edgeworth Box Corporation for the next year. Assume an income tax rate of 40 percent. Include the following schedules. 1. Sales budget. (Round "Sales price per unit" to 2 decimal places.) Box C Box P Total Sales (in units) Sales price per unit Sales revenue 2. 2. Production budget. Box C Box P Sales Total units needed Production requirements Direct-material budget. 3. Corrugating Medium Box C Box P Production requirements (number of boxes) Raw material required per 0.35 box (pounds) Raw material required for production (pounds) Total 0.45 11,000 Total rawmaterial needs Raw material to be purchased Price (per pound) Cost of purchases (corrugating medium) $0.20 Paperboard Box C Production requirement (number of boxes) Raw material required per box (pounds) Raw material required for production (pounds) Box P 0.45 Total 0.85 5,000 Total rawmaterial needs Raw material to be purchased Price (per $0.40 pound) Cost of purchases (paperboard) Total cost of raw-material purchases 4. Direct-labor budget. (Do not round intermediate calculations.) Box C Box P Total Production requirements (number of boxes) Direct labor required per box (hours) Direct labor required for production (hours) Direct-labor rate Total directlabor cost 5. Production-overhead budget. Total overhead 6. Selling and administrative expense budget. Total selling and administrative expenses 7. Budgeted income statement
