{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-29T01:20:39-04:00", "answer_date": "2024-06-29 01:20:39", "is_docs_available": null, "is_excel_available": null, "is_pdf_available": null, "count_file_available": 0, "main_page": "student_question_view", "question_id": "4437271", "url": "\/study-help\/questions\/supra-ltd-produces-and-sells-main-frame-computer-peripheral-the-4437271", "question_creation_date_js": "2024-06-29T01:20:39-04:00", "question_creation_date": "Jun 29, 2024 01:20 AM", "meta_title": "[Solved] Supra Ltd produces and sells main frame c | SolutionInn", "meta_description": "Answer of - Supra Ltd produces and sells main frame computer peripheral. The following data compiled by the management accountant | SolutionInn", "meta_keywords": "supra,ltd,produces,sells,main,frame,computer,peripheral,data,compiled,management,accountant", "question_title_h1": "Supra Ltd produces and sells main frame computer peripheral. The following data compiled by the management accountant for year 2020. (i) Sales: Quarter 1, 5,250", "question_title": "Supra Ltd produces and sells main frame computer peripheral. The following data", "question_title_for_js_snippet": "Supra Ltd produces and sells main frame computer peripheral The following data compiled by the management accountant for year 2020 (i) Sales Quarter 1, 5,250 units Quarter 2, 7,500 units Quarter 3, 8,500 units Quarter 4, 5,750 units Selling price is $1,250 per unit (ii) Direct material and direct labour Each unit of peripheral uses 4 kgs of material and needed 30 labour hours to produce Each kg of material will cost $40 and labourer rate is $15 per hour (iii) Desired finished goods and material inventories levels Supra Ltd has the policy to carry sufficient inventory of finished goods to meet 50 of the next quarter's sales, and sufficient raw materials to meet 80 of the next quarter's budgeted production The company expects to have 20,400 kgs of material on hand at the end of quarter 4, 2019 (iv) Production overheads The variable overhead budgeted at $5 per direct labour hour and all the variable overhead expenses are paid for in the quarter incurred Fixed overhead totals $147,000 each quarter, which includes $27,000 depreciation per quarter on the basis of labour hours The budgeted labour hours for 2020 is 840,000 (v) The income tax rate is 30 Required Prepare the quarterly budget for the first two quarters for year 2020 unless otherwise stated (a) Sales budget (1 mark) (b) Production budget (4 marks) (c) Direct material purchase budget in kgs and in $ (4 5 marks) (d) Direct labour budget in hours and in $ (2 marks) (e) Production overhead budget (2 5 marks) (f) Ending finished goods inventory at end of quarter 2 (3 marks)", "question_description": "

Supra Ltd produces and sells main frame computer peripheral. The following data compiled by the management accountant for year 2020. (i) Sales: Quarter 1, 5,250 units; Quarter 2, 7,500 units; Quarter 3, 8,500 units; Quarter 4, 5,750 units. Selling price is $1,250 per unit. (ii) Direct material and direct labour: Each unit of peripheral uses 4 kgs of material and needed 30 labour hours to produce. Each kg of material will cost $40 and labourer rate is $15 per hour. (iii) Desired finished goods and material inventories levels: Supra Ltd has the policy to carry sufficient inventory of finished goods to meet 50% of the next quarter's sales, and sufficient raw materials to meet 80% of the next quarter's budgeted production. The company expects to have 20,400 kgs of material on hand at the end of quarter 4, 2019. (iv) Production overheads: The variable overhead budgeted at $5 per direct labour hour and all the variable overhead expenses are paid for in the quarter incurred. Fixed overhead totals $147,000 each quarter, which includes $27,000 depreciation per quarter on the basis of labour hours. The budgeted labour hours for 2020 is 840,000. (v) The income tax rate is 30%. Required: Prepare the quarterly budget for the first two quarters for year 2020 unless otherwise stated: (a) Sales budget. (1 mark) (b) Production budget. (4 marks) (c) Direct material purchase budget in kgs and in $. (4.5 marks) (d) Direct labour budget in hours and in $. (2 marks) (e) Production overhead budget. (2.5 marks) (f) Ending finished goods inventory at end of quarter 2. (3 marks)<\/p>", "transcribed_text": "", "related_book": { "title": "Intermediate Accounting", "isbn": "470964731, 978-0470964736, 978-0470161012", "edition": "9th Canadian Edition, Volume 2", "authors": "Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield.", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/516.jpg", "uri": "\/textbooks\/intermediate-accounting-9th-canadian-edition-volume-2-516", "see_more_uri": "" }, "free_related_book": { "isbn": "0470902604", "uri": "\/textbooks\/cliffsnotes-statistics-quick-review-2nd-edition-9780470902608", "name": "CliffsNotes Statistics Quick Review", "edition": "2nd Edition" }, "question_posted": "2024-06-29 01:20:39", "see_more_questions_link": "\/study-help\/questions\/business-banking-2021-September-12", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/dan-webster-will-invest-10000-today-in-a-fund-that", "description": "Dan Webster will invest $10,000 today in a fund that earns 5% annual interest. 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