{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-28T06:53:21-04:00", "answer_date": "2024-06-28 06:53:21", "is_docs_available": null, "is_excel_available": null, "is_pdf_available": null, "count_file_available": 0, "main_page": "student_question_view", "question_id": "4257425", "url": "\/study-help\/questions\/the-brace-company-produces-and-sells-a-single-product-with-4257425", "question_creation_date_js": "2024-06-28T06:53:21-04:00", "question_creation_date": "Jun 28, 2024 06:53 AM", "meta_title": "[Solved] The Brace Company produces and sells a si | SolutionInn", "meta_description": "Answer of - The Brace Company produces and sells a single product with budgeted or standard costs as follows: Inputs Budgeted or S | SolutionInn", "meta_keywords": "brace,company,produces,sells,single,product,budgeted,standard,costs,inputs,quantity,per", "question_title_h1": "The Brace Company produces and sells a single product with budgeted or standard costs as follows: Inputs Budgeted or Standard quantity per output Cost per", "question_title": "The Brace Company produces and sells a single product with budgeted or", "question_title_for_js_snippet": "The Brace Company produces and sells a single product with budgeted or standard costs as follows Inputs Budgeted or Standard quantity per output Cost per input Cost per output Direct materials Direct labor Factory overhead Variable Fixed Total 5 lbs 4 hours 4 hours 4 hours $10 9 11 20 $50 36 44 80 $210 Overhead rates are based on 5,000 standard direct labor hours per month, i e , this is the master budget denominator activity level Desired ending inventory of materials is based on 10 of the next periods materials needed for production Desired ending finished goods is based on 5 of next periods sales Selling and administrative expenses include $40 per unit for variable costs and $50,000 per month for fixed costs Unit Sales are budgeted as follows January February March April May 1,000 1,200 1,300 1,400 1 500 The budgeted sales price is $400 per unit All sales are budgeted as credit sales Past experience indicates that 75 are collected during the month of sale, 20 are collected in the following month, and 5 eventually become uncollectible A 1 cash discount is allowed to customers who pay within the month the sale takes place The budgeted units to be produced are 1,305 Net sales dollars budgeted for March are", "question_description": "

The Brace Company produces and sells a single product with budgeted or standard costs as follows:<\/span><\/p>

Inputs<\/p>

Budgeted or<\/p>

Standard quantity<\/p>

per output<\/p>

Cost per input<\/p>

Cost per output<\/p>

Direct materials<\/p>

Direct labor<\/p>

Factory overhead:<\/p>

Variable<\/p>

Fixed<\/p>

Total<\/p>

5 lbs<\/p>

4 hours<\/p>

<\/p>

4 hours<\/p>

4 hours<\/p>

$10<\/p>

9<\/p>

<\/p>

11<\/p>

20<\/p>

$50<\/p>

36<\/p>

<\/p>

44<\/p>

80<\/u><\/p>

$210<\/p>

Overhead rates are based on 5,000 standard direct labor hours per month, i.e., this is the master budget denominator activity level. Desired ending inventory of materials is based on 10% of the next periods materials needed for production. Desired ending finished goods is based on 5% of next periods sales. Selling and administrative expenses include $40 per unit for variable costs and $50,000 per month for fixed costs. Unit Sales are budgeted as follows:<\/span><\/p>

January<\/p>

February<\/p>

March<\/p>

April<\/p>

May<\/p>

1,000<\/p>

1,200<\/p>

1,300<\/p>

1,400<\/p>

1.500<\/p>

<\/p>

The budgeted sales price is $400 per unit. All sales are budgeted as credit sales. Past experience indicates that 75% are collected during the month of sale, 20% are collected in the following month, and 5% eventually become uncollectible. A 1% cash discount is allowed to customers who pay within the month the sale takes place. The budgeted units to be produced are 1,305.<\/span><\/p>

Net sales dollars budgeted for March are<\/span><\/p>", "transcribed_text": "", "related_book": { "title": "Auditing Cases An Active Learning Approach", "isbn": "0130674842, 978-0130674845", "edition": "2nd Edition", "authors": "Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/64ed8a8041add_6938.jpg", "uri": "\/textbooks\/abnormal-psychology-clinical-perspectives-on-psychological-disorders-1st-edition-9781266566899", "see_more_uri": "" }, "free_related_book": { "isbn": "B0CXNNJRPF", "uri": "\/textbooks\/crypto-trading-fundamentals-volume-1-1st-edition-b0cxnnjrpf-281038", "name": "Crypto Trading Fundamentals Volume 1", "edition": "1st Edition" }, "question_posted": "2024-06-28 06:53:21", "see_more_questions_link": "\/study-help\/questions\/business-business-communication-2023-February-20", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/jimmy-hale-is-the-owner-and-operator-of-the-grain", "description": "Jimmy Hale is the owner and operator of the grain elevator in Brownfield, Texas, where he has lived for most of his 62 years. 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