| Lens Junction sells lenses for $45 each and is estimating sales of 16,000 units in January and 19,000 in February. Each lens consists of 2 pounds of silicon costing $2.50 per pound, 3 oz of solution costing $3 per ounce, and 30 minutes of direct labor at a labor rate of $20 per hour. Desired inventory levels are: | | Jan. 31 | Feb. 28 | Mar. 31 | | Beginning inventory | | | | | Finished goods | 4,300 | 4,900 | 5,100 | | Direct materials: silicon | 8,300 | 9,200 | 9,000 | | Direct materials: solution | 11,000 | 12,100 | 12,900 | Prepare a sales budget. | Lens Junction | | Sales Budget | | For the Two Months Ending February 28, 20XX | | | January | February | | Expected Sales (Units) | fill in the blank 5187e0ffe078043_1 | fill in the blank 5187e0ffe078043_2 | | Sales Price per Unit | $fill in the blank 5187e0ffe078043_3 | $fill in the blank 5187e0ffe078043_4 | | Total Sales Revenue | $fill in the blank 5187e0ffe078043_5 | $fill in the blank 5187e0ffe078043_6 | | Total | $fill in the blank 5187e0ffe078043_7 | | Prepare a production budget. | Lens Junction | | Production Budget | | For the Two Months Ending February 28, 20XX | | | January | February | | Expected Sales | fill in the blank 726b0ff76f7ffc8_1 | fill in the blank 726b0ff76f7ffc8_2 | | Add: Desired Ending Inventory | fill in the blank 726b0ff76f7ffc8_4 | fill in the blank 726b0ff76f7ffc8_5 | | Total Required Units | fill in the blank 726b0ff76f7ffc8_6 | fill in the blank 726b0ff76f7ffc8_7 | | Less: Beginning Inventory | fill in the blank 726b0ff76f7ffc8_9 | fill in the blank 726b0ff76f7ffc8_10 | | Required Production | fill in the blank 726b0ff76f7ffc8_11 | fill in the blank 726b0ff76f7ffc8_12 | | Total | fill in the blank 726b0ff76f7ffc8_13 | | Prepare direct materials budget for silicon. | Lens Junction | | Direct Materials Budget for Silicon | | For the Two Months Ending February 28, 20XX | | | January | February | | Units to be Produced | fill in the blank 74d97208aff3027_1 | fill in the blank 74d97208aff3027_2 | | Direct Material per Unit | fill in the blank 74d97208aff3027_3 | fill in the blank 74d97208aff3027_4 | | Total Ounces Needed for Production | fill in the blank 74d97208aff3027_5 | fill in the blank 74d97208aff3027_6 | | Add: Desired Ending Inventory | fill in the blank 74d97208aff3027_8 | fill in the blank 74d97208aff3027_9 | | Total Material Required | fill in the blank 74d97208aff3027_10 | fill in the blank 74d97208aff3027_11 | | Less: Beginning Inventory | fill in the blank 74d97208aff3027_13 | fill in the blank 74d97208aff3027_14 | | Ounces of Direct Material Purchase Requirements | fill in the blank 74d97208aff3027_15 | fill in the blank 74d97208aff3027_16 | | Cost per Ounce | $fill in the blank 74d97208aff3027_17 | $fill in the blank 74d97208aff3027_18 | | Total Cost of Direct Material Purchase | $fill in the blank 74d97208aff3027_19 | $fill in the blank 74d97208aff3027_20 | | Total Direct Materials Silicon for Two Months Ending February 28, 20XX | | $fill in the blank 74d97208aff3027_21 | Prepare direct materials budget for solution. | Lens Junction | | Direct Materials Budget for Solution | | For the Two Months Ending February 28, 20XX | | | January | February | | Units to be Produced | fill in the blank 9676beffe004fd4_1 | fill in the blank 9676beffe004fd4_2 | | Direct Material per Unit | fill in the blank 9676beffe004fd4_3 | fill in the blank 9676beffe004fd4_4 | | Total Ounces Needed for Production | fill in the blank 9676beffe004fd4_5 | fill in the blank 9676beffe004fd4_6 | | Add: Desired Ending Inventory | fill in the blank 9676beffe004fd4_8 | fill in the blank 9676beffe004fd4_9 | | Total Material Required | fill in the blank 9676beffe004fd4_10 | fill in the blank 9676beffe004fd4_11 | | Less: Beginning Inventory | fill in the blank 9676beffe004fd4_13 | fill in the blank 9676beffe004fd4_14 | | Ounces of Direct Material Purchase Requirements | fill in the blank 9676beffe004fd4_15 | fill in the blank 9676beffe004fd4_16 | | Cost per Ounce | $fill in the blank 9676beffe004fd4_17 | $fill in the blank 9676beffe004fd4_18 | | Total Cost of Direct Material Purchase | $fill in the blank 9676beffe004fd4_19 | $fill in the blank 9676beffe004fd4_20 | | Total Direct Materials Solution for Two Months Ending February 28, 20XX | | $fill in the blank 9676beffe004fd4_21 | Prepare a direct labor budget. | Lens Junction | | Direct Labor Budget | | For the Two Months Ending February 28, 20XX | | | January | February | | Units to be Produced | fill in the blank b7ad30f8405dfe8_1 | fill in the blank b7ad30f8405dfe8_2 | | Direct Labor Hours per Unit | fill in the blank b7ad30f8405dfe8_3 | fill in the blank b7ad30f8405dfe8_4 | | Total Required Direct Labor Hours | fill in the blank b7ad30f8405dfe8_5 | fill in the blank b7ad30f8405dfe8_6 | | Labor Cost per Hour | $fill in the blank b7ad30f8405dfe8_7 | $fill in the blank b7ad30f8405dfe8_8 | | Total Direct Labor Cost | $fill in the blank b7ad30f8405dfe8_9 | $fill in the blank b7ad30f8405dfe8_10 | | Total Direct Labor Budget For Two Months Ending February 28, 20XX | | $fill in the blank b7ad30f8405dfe8_11 | | | |
