Answered step by step
Verified Expert Solution
Question
1 Approved Answer
You have been asked to review the information of Deck Corp. and prepare elements of the master budget for the year ending December 2013 Given:
You have been asked to review the information of Deck Corp. and prepare elements of the master budget for the year ending December 2013 Given: A) Balance Sheet: Deck Corp Balance Sheet December 31, 2012 ASSETS LIABILITIES AND EQUITIES Cash. Accounts receivable InventorY Direct Materials (1,600 kg55 Finished Goods (7,400$5516.. S 76,153 Accounts payable....23,451 26,000 Equity 8,000 24,268 Contributed capital...s151,746 134,421 Retained earnings 320,970 Total equit Manufacturing property & equipment.. 320,000 Less: accumulated amortization 210,000 344 421 Total Lisbilities and Equity344421 Total Assets B) The units are expected to be sold for $9.50 with the following volumes: 26,000 2,000 December 2012 January 2013 February 2013 March 2013 April 2013 45,000 42,000 May 201340,000 C) Variable manufacturing costs: Cost pert Unit Quantity Cost Direct materials (DM)0.35 5.00 pkg 1.75 Direct labour (DL) Manufacturing Overhead 0.2 hours 8.00 per hour 1.60 (MOH) (applied on DLH) 0.2 hours $15.00 per hour$3.00 D) Total filxed manufacturing costs per unit Estimated annual fixed manufacturing averhead Includes annual depreciation of 180,000 $ 24,000 Applied based on direct labour hours (DLH) E) Desired minimum inventories: Direct materials Finished goods 15% 20% 1 of next month's production needs 10f next month's sales in units
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