Two grams of musk oil are required for each bottle of Mink Caress, a very popular perfume made by a small company in western Siberia. The cost of the musk oil is $170 per gram. Budgeted production of Mink Caress is given below by quarters for Year 2 and for the first quarter of Year 3: Year 2 Year 3 First Second Third Fourth First Budgeted production, in bottles 78,000 108,000 168,000 118,000 88,000 The inventory of musk oil at the end of a quarter must be equal to 20% of the following quarter's production needs. Some 31,200 grams of musk oil will be on hand to start the first quarter of Year 2 Required: Prepare a direct materials budget for musk oil, by quarter and in total, for Year 2. Fourth Quarter 118,000 Year 472,000 2 2 Required production in units of finished goods Units of raw materials needed per unit of finished goods Units of raw materials needed to moot production Add: Desired units of ending raw materials inventory Total units of raw materials needed Less: Units of beginning raw materials inventory Units of raw materials to be purchased Unit cost of raw materials Cost of raw materials to purchased Mink Caress Direct Materials Budget - Year 2 First Quarter Second Quarter Third Quarter 78,000 108,000 168,000 21 2 2 156,000 216,000 336,000 21,600 33,600 23,600 177,600 249,6001 359,600 62.400 21,6001 33,600 236,000 17,600 253,600 23,600 944,000 17,600 961,600 62,400 $ 1.70 $ 1.70 $ 1.70 $ 1.70 $ 1.70 The Production Department of Hruska Corporation has submitted the following forecast of units to be produced by quarter for the upcoming fiscal year 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Units to be produced 10,300 9,300 11,300 12,300 Each unit requires 0.25 direct labor-hours and direct laborers are paid $12.00 per hour. In addition, the variable manufacturing overhead rate is $1.60 per direct labor-hour. The fixed manufacturing overhead is $83,000 per quarter. The only noncash element of manufacturing overhead is depreciation, which is $23,000 per quarter. Required: 1. Calculate the company's total estimated direct labor cost for each quarter of the upcoming fiscal year and for the year as a whole 2 and 3 Calculate the company's total estimated manufacturing overhead cost and the cash disbursements for manufacturing overhead for each quarter of the upcoming fiscal year and for the year as a whole. Complete this question by entering your answers in the tabs below. Req1 Reg 2 and 3 Calculate the company's total estimated direct labor cost for each quarter of the upcoming fiscal year and for the year as a whole. (Round "Direct labor time per unit (hours)" answers to 2 decimal places.) 1st Quarter 3rd Quartar 4th Quarter Total direct labor cost Rog Roq 2 and 3 > 2nd Quarter Year The Production Department of Hruska Corporation has submitted the following forecast of units to be produced by quarter for the upcoming fiscal year. 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Units to be produced 10,300 9,300 11,300 12,300 Each unit requires 0.25 direct labor-hours and direct laborers are paid $12.00 per hour. In addition, the variable manufacturing overhead rate is $160 per direct labor-hour. The fixed manufacturing overhead is $83,000 per quarter. The only noncash element of manufacturing overhead is depreciation, which is $23,000 per quarter. Required: 1. Calculate the company's total estimated direct labor cost for each quarter of the upcoming fiscal year and for the year as a whole. 2. and 3. Calculate the company's total estimated manufacturing overhead cost and the cash disbursements for manufacturing overhead for each quarter of the upcoming fiscal year and for the year as a whole. Complete this question by entering your answers in the tabs below. Reg 1 Reck and 3 Calculate the company's total estimated manufacturing overhead cost and the cash disbursements for manufacturing overhead for each quarter of the the upcoming fiscal year and for the year as a whole. 2nd Quarter 3rd Quarter 4th Quarter Year Total manufacturing overhead Cash disbursements for manufacturing overhead Ist Quarter Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has prepared the following summary of its budgeted cash flows: 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Total cash receipts $ 350,000 $ 470,000 $ 400,000 $ 420,000 Total cash disbursements $ 393,000 $ 363,000 $ 353,000 $ 373,000 The company's beginning cash balance for the upcoming fiscal year will be $20,000. The company requires a minimum cash balance of $10,000 and may borrow any amount needed from a local bank at a quarterly interest rate of 3%. The company may borrow any amount at the beginning of any quarter and may repay its loans, or any part of its loans, at the end of any quarter. Interest payments are due on any principal at the time it is repaid. For simplicity, assume that interest is not compounded. Required: Prepare the company's cash budget for the upcoming fiscal year. (Repayments and interest should be indicated by a minus sign.) Garden Depot Cash Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Beginning cash balance Total cash receipts Total cash available Total cash disbursements Excess deficiency) of cash available over disbursements Financing Borrowings Repayments Interest Total financing Ending cash balance