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There is more than one question on these please be specific on the ones you help with thank you 1. My Confederate Candle Co. budgeted
There is more than one question on these please be specific on the ones you help with thank you 1. My Confederate Candle Co. budgeted production of 64,300 candles in 2015. Wax is required to produce a candle. Assume eight ounces (one-half pound) of wax is required for each candle. The estimated January 1, 2015 wax inventory is 3,000 pounds. The desired December 31, 2015 is 3,200 pounds. Candle wax costs $3.60 per pound. Confederate Candle Co. pays 20% of its purchases on account in the month of the purchase and 80% in the month following the purchase. Purchases are budgeted to be $18,000 for October and $19,500 for November Confederate Candle Co. budgeted production of 64,300 candles in 2015. Each candle requires molding. Assume that 15 minutes are required to mold each candle. Molding labor costs $13.00 per hour. Required a. Determine the direct material purchases budget for 2015. b. Determine the direct labor cost budget for 2015. c. Determine the budgeted cash payments for purchases on account for November 2. Net Vision uses flexible budgets that are based on the following data: Sales commissions Advertising expense Miscellaneous selling expense Office salaries expense Office supply expense Miscellaneous administrative expense 10% of sales 18% of sales $2,800 per month plus 4% of sales $18,000 per month 3% of sales $2,200 per month plus 2% of sales Required a. Prepare a flexible selling and administrative expense budget for January 2016 for sales volumes of $100,000, $125,000, and $150,000
There is more than one question on these please be specific on the ones you help with thank you
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