w P i S of the month of April is given in the following tables: (Click the icon to view the information for the two products.) Pet Transport accounts for direct materials using a FIFO cost-flow assumption (Click the icon to view the account information.) Processing, and Inspe per inspection hour, te : (Click the icon to Read the requiremen Dog-errific 1,000 lbs. 200 lbs 2.560 vs 460 2560 Total quantity of direct material to be used Cost Budget Available from beginning direct materials inventory (under a FIFO cost-flow assumption) Plastic Metal To be purchased this period Plastic Metal Direct materials to be used this period 460 420 2980 3485 Enter any number in the edit fields and then click Check Answer. Clear All 6 parts remaining 100 lbs. 200 i Account Information 160 Sales and Inventory Information, Finished Goods Cat-allac Dog-eriffic Expected sales in units 500 215 Selling price 215 $ 320 Target ending inventory in units 35 Beginning inventory in units Beginning inventory in dollars $ 1,500 $ 5,580 Pet Transport uses a FIFO cost-flow assumption for finished-goods inventory. 15 30 15 ver. Print Done nation for the two pro Product Information X Flem and clas se activities jon follows: ne two products.) ng a FIFO cost-flow a cion.) Input Prices Direct materials Plastic 1,000 2,560 Metal $ $ $ 4 per pound 3 per pound 10 per direct manufacturing labor hour Direct manufacturing labor Input Quantities per Unit of Output Cory Cat-allac Dog-eriffic 2560 Direct materials Plastic Metal Direct manufacturing labor-hours (DMLH) Machine-hours (MH) 3 pounds 0.5 pounds 3 hours 10 MH 5 pounds 1 pound 5 hours 18 MH 420 2980 Inventory Information, Direct Materials Plastic Metal 50 pounds 290 pounds Beginning inventory click Check Answer Print Done Product Information ion for the two proi two products.) FIFO cost-flow X stem and classifies se activities are $10 lon follows: 1,000 2,560 Plastic $ 4 per pound Metal $ 3 per pound Direct manufacturing labor $ 10 per direct manufacturing labor hour Input Quantities per Unit of Output Cat-allac Dog-eriffic Direct materials Plastic 3 pounds 5 pounds Metal 0.5 pounds 1 pound Direct manufacturing labor-hours (DMLH) 3 hours 5 hours Machine-hours (MH) 10 MH 18 MH 2560 420 Inventory Information, Direct Materials Metal 2980 Beginning inventory Target ending inventory Cost of beginning inventory Plastic 290 pounds 420 pounds 1,218 50 pounds 45 pounds 145 $ $ Check Answer Print Done FIFU cost-flow assumption. Read the requirements. 1,000 lbs. 200 lb lbs. 1 Other information 2560 20 420 Cost Driver Information Cat-allac Dog-errific Number of units per batch Setup time per batch 1.50 hours 2.00 hours Inspection time per batch 0.5 hours 0.6 hour If necessary, round up to calculate number of batches. Nonmanufacturing fixed costs for March equal $30,000, half of which are salaries. Salaries are expected to increase 5% in April. Other nonmanufacturing fixed costs will remain the same. The only variable nonmanufacturing cost is sales commission, equal to 1% of sales revenue. 2980 Check Answer Print Done DOLL n.) Read the requirements. 1,000 lbs. 2,560 lbs. Requirements 2560 420 Prepare the following for April: 1. Revenues budget 2. Production budget in units 3. Direct material usage budget and direct material purchases budget 4. Direct manufacturing labor cost budget 5. Manufacturing overhead cost budgets for each of the three activities 6. Budgeted unit cost of ending finished goods inventory and ending inventories budget 7. Cost of goods sold budget Nonmanufacturing costs budget 9. Budgeted income statement (ignore income taxes) 10. How does preparing the budget help Pet Transport's management team better manage the company? 2980 Check
