Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

T16-2 (similar to) Question Help Sparkle Corporation manufactures and sells two types of decorative lamps, Knox and Ayer. It expects to manufacture 17,000 Knox lamps

image text in transcribed image text in transcribed image text in transcribed image text in transcribed

T16-2 (similar to) Question Help Sparkle Corporation manufactures and sells two types of decorative lamps, Knox and Ayer. It expects to manufacture 17,000 Knox lamps and 16,000 Ayer lamps in 2017. The following data are available for the year 2017 (Click the icon to view the information.) B (Click the icon to view the December 31, 2017 production budget in units.) Calculate (a) the direct materials usage budget in quantity and dollars (label it Schedule 3A); (b) the direct materials purchase budget in quantity and dollars (label it Schedule 3B); and (c) the direct manufacturing labor costs budget (label it Schedule 4) for the year ending December 31, 2017. (a). Begin by calculating the direct materials usage budget in quantity and then in dollars (label it Schedule 3A) for the year ending December 31, 2017 Schedule 3A: Direct Material Usage Budget in Quantity and Dollars for the Year Ending December 31, 2017 Material Metal Fabric Physical Units Budget Direct materials required for Knox lamps 34,000 lbs. 17,000 yards Total Enter any number in the edit fields and then click Check Answer. Schedule 3A: Direct Material Usage Budget in Quantity and Dollars for the Year Ending December 31, 2017 Material Metal Fabric Total Physical Units Budget Direct materials required for Knox lamps 34,000 lbs. 17,000 yards 48,000 lbs. _48,000 yards Direct materials required for Ayer lamps Total quantity of direct materials to helised 65,000 varda 82,000 lbs Available from beginning direct materials inventory (under a FIFO cost-flow assumption) Metal Fabric To be purchased and used this period Metal Fabric Direct materials to be used this period Enter any number in the edit fields and then click Check Answer. A Data Table Data Table - X Direct materials Metal Fabric Direct manufacturing labor $ $ $ 2 per pound (same as in 2016) 3 per yard (same as in 2016) 14 per hour Schedule 2: Production Budget (in Units) for the Year Ending December 31, 2017 Knox Budgeted units sales 18,400 Add target ending finished goods inventory 1,600 Total required units 20,000 Deduct beginning finished goods inventory 3,000 17,000 Units of finished goods to be produced Ayer 16,000 600 Content of Each Product Unit 16,600 Product 600 16,000 Metal Knox 2 pounds 1 yard 0.05 hours Ayer 3 pounds 3 yards 0.15 hours Fabric Direct manufacturing labor Print Done T16-2 (similar to) Question Help Sparkle Corporation manufactures and sells two types of decorative lamps, Knox and Ayer. It expects to manufacture 17,000 Knox lamps and 16,000 Ayer lamps in 2017. The following data are available for the year 2017 (Click the icon to view the information.) B (Click the icon to view the December 31, 2017 production budget in units.) Calculate (a) the direct materials usage budget in quantity and dollars (label it Schedule 3A); (b) the direct materials purchase budget in quantity and dollars (label it Schedule 3B); and (c) the direct manufacturing labor costs budget (label it Schedule 4) for the year ending December 31, 2017. (a). Begin by calculating the direct materials usage budget in quantity and then in dollars (label it Schedule 3A) for the year ending December 31, 2017 Schedule 3A: Direct Material Usage Budget in Quantity and Dollars for the Year Ending December 31, 2017 Material Metal Fabric Physical Units Budget Direct materials required for Knox lamps 34,000 lbs. 17,000 yards Total Enter any number in the edit fields and then click Check Answer. Schedule 3A: Direct Material Usage Budget in Quantity and Dollars for the Year Ending December 31, 2017 Material Metal Fabric Total Physical Units Budget Direct materials required for Knox lamps 34,000 lbs. 17,000 yards 48,000 lbs. _48,000 yards Direct materials required for Ayer lamps Total quantity of direct materials to helised 65,000 varda 82,000 lbs Available from beginning direct materials inventory (under a FIFO cost-flow assumption) Metal Fabric To be purchased and used this period Metal Fabric Direct materials to be used this period Enter any number in the edit fields and then click Check Answer. A Data Table Data Table - X Direct materials Metal Fabric Direct manufacturing labor $ $ $ 2 per pound (same as in 2016) 3 per yard (same as in 2016) 14 per hour Schedule 2: Production Budget (in Units) for the Year Ending December 31, 2017 Knox Budgeted units sales 18,400 Add target ending finished goods inventory 1,600 Total required units 20,000 Deduct beginning finished goods inventory 3,000 17,000 Units of finished goods to be produced Ayer 16,000 600 Content of Each Product Unit 16,600 Product 600 16,000 Metal Knox 2 pounds 1 yard 0.05 hours Ayer 3 pounds 3 yards 0.15 hours Fabric Direct manufacturing labor Print Done

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing and Assurance Services A Systematic Approach

Authors: William Messier, Steven Glover, Douglas Prawitt

9th edition

1308361491, 77862333, 978-1259248290, 9780077862336, 1259162346, 978-1259162343

More Books

Students also viewed these Accounting questions

Question

Explain the strategy used by your favourite retailer.

Answered: 1 week ago

Question

define basic, ideal and currently attainable standards;

Answered: 1 week ago

Question

3 > O Actual direct-labour hours Standard direct-labour hours...

Answered: 1 week ago

Question

=+9. Think about a campaign direction.

Answered: 1 week ago

Question

=+Who is the audience?

Answered: 1 week ago