Xin Manufacturing Company manufactures blue rugs using wool and dye as direct materials. One rugs Click the icon to view the additional information) budgeted to use 36 skins of wool at a cost of super son and 0.8 galions of dye at a cost of $6 per garon All other materials are indirect. At the beginning of the year Xin has an inventory of 448.000 skons t reres no dract manufacturing cost for young Xin budgets 60 direct manufacturing labor hours to of wool at a cost of $385,000 and 3.000 gallons of dye at a cost of $21.000. Target onding inventory of wool Wave ang at a boguled tabe o per hour budgets 0.2 machine hours to dye each skin in the and dye is roro. Xin uses the FIFO inventory collow method i Data Table Requirement 1. Prepare a direct material usage budget in both units and dollars Begin with the physical units portion, then prepare the cost budget portion of the dired Direct Material Usage Budget in Quantity and Dollars Material Dyeing (based on 1476.000 MH) (based on 12,300,000 DMLH) 15,390,000 5.520,000 2.035,000 6,555.000 7.555,000 Physical Units Budget Direct materials required for Variable cost Indirect materials Maintenance Us Fred costs Indirect labor Depreciation Other Bluo rugs I skoins Choose from any list or enter any number in the input fields and then continue to 352,000 2.163.000 718,000 173.000 $ 1.720,000 265,000 5,820,000 30.750,000 RPM - X i Requirements Xin Manufacturing Company manufactures bluo rugs, budgeted to use 36 skins of wool at a cost of $3 per sol gallon All other materials are indirect. At the beginning of of wool at a cost of $965,600 and 3.800 guions of dye at and dye is zero. Xin uses the FIFO inventory cost low me ing Xin budgets 60 direct manufac budgets 02 machine-hours to dye costs.) 1. 2. 3. Requirement 1. Prepare a direct material usage budget i Begin with the physical units portion, then prepare the co Direct Material Usage Budg 5. Prepare a direct material usage budget in both units and dollars. Calculate the budgeted overhead allocation rates for weaving and dyeing Calculate the budgeted unit cost of a blue rug for the year. Prepare a revenues budget for blue rugs for the year, assuming Xin solls (a) 205,000 or (b) 195,000 blue rugs (that is, at two different sales levels). Calculate the budgeted cost of goods sold for blue rugs under each sales assumption Find the budgeted gross margin for blue rugs under each sales assumption. What actions might you take as a manager to improve profitability if sales drop to 195,000 blue rugs? How might top management at Xin use the budget developed in requirements 1-6 to better manage the company? Physical Units Budget Direct materials required for Blue rugs Print Done Choose from any list or enter any number in the input Xin Manufacturing Company manufactures blue rugs, using wool and dye as direct materials. One rug is budgeted to use 36 skeins of wool at a cost of $3 per skein and 0.8 gallons of dye at a cost of $6 per gallon. All other materials are indirect. At the beginning of the year Xin has an inventory of 448,000 skeins of wool at a cost of $985,600 and 3,800 gallons of dye at a cost of $21,660. Target ending inventory of wool and dye is zero. Xin uses the FIFO inventory cost flow method. (Click the icon to There is no direct ma weave a rug at a bud dyeing process. (Click the icon to Read the requiremer Requirement 1. Prepare a direct material usage budget in both units and dollars. Begin with the physical units portion, then prepare the cost budget portion of the direct material usage budget. Direct Material Usage Budget in Quantity and Dollars Material Wool Dye Total Physical Units Budget Direct materials required for Run NIS skeins 1 of 4 (2 complete) This Test: 100 pts possible aterials. One rug is a cost of $6 per y of 448,000 skeins ding inventory of wool (Click the icon to view the additional information.) There is no direct manufacturing labor cost for dyeing. Xin budgets 60 direct manufacturing labor-hours to weave a rug at a budgeted rate of $13 per hour. It budgets 0.2 machine-hours to dye each skoin in the dyeing process. (Click the icon to view the budgeted overhead costs.) Read the requirements material usage budget. Dye Total Xin Manufacturing Company manufactures blue rugs using wool and dye as direct materials. One rugs Click the icon to view the additional information) budgeted to use 36 skins of wool at a cost of super son and 0.8 galions of dye at a cost of $6 per garon All other materials are indirect. At the beginning of the year Xin has an inventory of 448.000 skons t reres no dract manufacturing cost for young Xin budgets 60 direct manufacturing labor hours to of wool at a cost of $385,000 and 3.000 gallons of dye at a cost of $21.000. Target onding inventory of wool Wave ang at a boguled tabe o per hour budgets 0.2 machine hours to dye each skin in the and dye is roro. Xin uses the FIFO inventory collow method i Data Table Requirement 1. Prepare a direct material usage budget in both units and dollars Begin with the physical units portion, then prepare the cost budget portion of the dired Direct Material Usage Budget in Quantity and Dollars Material Dyeing (based on 1476.000 MH) (based on 12,300,000 DMLH) 15,390,000 5.520,000 2.035,000 6,555.000 7.555,000 Physical Units Budget Direct materials required for Variable cost Indirect materials Maintenance Us Fred costs Indirect labor Depreciation Other Bluo rugs I skoins Choose from any list or enter any number in the input fields and then continue to 352,000 2.163.000 718,000 173.000 $ 1.720,000 265,000 5,820,000 30.750,000 RPM - X i Requirements Xin Manufacturing Company manufactures bluo rugs, budgeted to use 36 skins of wool at a cost of $3 per sol gallon All other materials are indirect. At the beginning of of wool at a cost of $965,600 and 3.800 guions of dye at and dye is zero. Xin uses the FIFO inventory cost low me ing Xin budgets 60 direct manufac budgets 02 machine-hours to dye costs.) 1. 2. 3. Requirement 1. Prepare a direct material usage budget i Begin with the physical units portion, then prepare the co Direct Material Usage Budg 5. Prepare a direct material usage budget in both units and dollars. Calculate the budgeted overhead allocation rates for weaving and dyeing Calculate the budgeted unit cost of a blue rug for the year. Prepare a revenues budget for blue rugs for the year, assuming Xin solls (a) 205,000 or (b) 195,000 blue rugs (that is, at two different sales levels). Calculate the budgeted cost of goods sold for blue rugs under each sales assumption Find the budgeted gross margin for blue rugs under each sales assumption. What actions might you take as a manager to improve profitability if sales drop to 195,000 blue rugs? How might top management at Xin use the budget developed in requirements 1-6 to better manage the company? Physical Units Budget Direct materials required for Blue rugs Print Done Choose from any list or enter any number in the input Xin Manufacturing Company manufactures blue rugs, using wool and dye as direct materials. One rug is budgeted to use 36 skeins of wool at a cost of $3 per skein and 0.8 gallons of dye at a cost of $6 per gallon. All other materials are indirect. At the beginning of the year Xin has an inventory of 448,000 skeins of wool at a cost of $985,600 and 3,800 gallons of dye at a cost of $21,660. Target ending inventory of wool and dye is zero. Xin uses the FIFO inventory cost flow method. (Click the icon to There is no direct ma weave a rug at a bud dyeing process. (Click the icon to Read the requiremer Requirement 1. Prepare a direct material usage budget in both units and dollars. Begin with the physical units portion, then prepare the cost budget portion of the direct material usage budget. Direct Material Usage Budget in Quantity and Dollars Material Wool Dye Total Physical Units Budget Direct materials required for Run NIS skeins 1 of 4 (2 complete) This Test: 100 pts possible aterials. One rug is a cost of $6 per y of 448,000 skeins ding inventory of wool (Click the icon to view the additional information.) There is no direct manufacturing labor cost for dyeing. Xin budgets 60 direct manufacturing labor-hours to weave a rug at a budgeted rate of $13 per hour. It budgets 0.2 machine-hours to dye each skoin in the dyeing process. (Click the icon to view the budgeted overhead costs.) Read the requirements material usage budget. Dye Total