Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Raw Material Inventory 1/1/2021 12/31/2021 Part 3 DATA 2021 Budgeted Input Production Requirements Units per P1 Direct labor hrs T1 0.2 Direct labor hrs T2
Raw Material Inventory 1/1/2021 12/31/2021 Part 3 DATA 2021 Budgeted Input Production Requirements Units per P1 Direct labor hrs T1 0.2 Direct labor hrs T2 0 Machine hrs 0.01 Lbs of Z1 3 Units of Z2 4 Feet of Z3 5 Unit cost of input $40.00 $30.00 Units per P2 0 0.3 0.025 4 5 6 $2.00 $3.00 $4.00 40,000 60.000 70,000 45,000 65.000 70,000 The production of P1 and P2 requires direct labor (2 types), machine hours, and direct materials (3 types: Z1, Z2, and Z3). Input-output relations are given in the table above per unit of output. For example, one unit of P1 is budgeted to require 0.2 hours of Type 1 labor. Input prices are per unit of input such as a per pound, hour, foot, or unit. E.g., 1 hour of Type 1 labor is budgeted to cost $40.00 per hour. Ignore your answers to Questions 4 and 5 in Part 1. Assume SBM has budgeted production for 2021 as: Product P1 budgeted production for 2021 Product P2 budgeted production for 2021 44,400 units. 76,600 units. (if you do not see a number, be sure you entered your UIN) Answer the following questions regarding the annual production / purchases budgets using the information in Part 3. Q9 The total number of T1 labor hours required in 2021 is? Q10 The total number of T2 labor hours required in 2021 is? Q11 The total number of machine hours required in 2021 is? Q12 The total number of lbs. of input Z1 required for production in 2021 is? Q13 The total number of units of input Z2 required for production in 2021 is? Q14 The total number of feet of input Z3 required for production in 2021 is? Q15 What is the budget for T1 direct labor (dollars)? Q16 What is the budget for T2 direct labor (dollars)? Q17 What is the total direct labor budget (dollars)? Q18 What is the purchases budget for material Z1 (dollars)? Q19 What is the purchases budget for material Z2 (dollars)? Q20 What is the purchases budget for material 23 (dollars)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started