Homework Answers
3)
| Framing | Glass | Backing | Total | |
| Ending inventory | 2250 | 750 | 750 | |
| Add: Current production | 40000 | 10000 | 20000 | |
| Less: Beginning inventory | 1500 | 500 | 500 | |
| Units to be purchased | 40750 | 10250 | 20250 | |
| Cost per unit | 0.3 | 6 | 2.25 | |
| Purchase cost | 12225 | 61500 | 45562.5 | 119287.5 |
Workings:
| Framing | Glass | Backing | |
| Sales | 10000 | 10000 | 10000 |
| Required | 4 | 1 | 2 |
| Total requirement | 40000 | 10000 | 20000 |
| Beginning inventory | 1500 | 500 | 500 |
| Ending inventory | 2250 | 750 | 750 |
4)
| Molding | Polishing | Total | |
| Expected to sell | 10000 | 10000 | |
| Ending inventory | 2000 | 2000 | |
| Less: Opening inventory | 800 | 800 | |
| Units to be worked on | 11200 | 11200 | |
| No of hours required | 1 | 2 | |
| Budgeted hours | 11200 | 22400 | 33600 |
| Rate per hour | 20 | 25 | |
| Budgeted labor cost | 224000 | 560000 | 784000 |
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3) Picture Pretty manufactures picture frames. Sales for August are expected to be 10,000 units of...
ture Pretty manufactures picture frames. Sales for August are expected to be 10,000 units of various...
ture Pretty manufactures picture frames. Sales for August are expected to be 10,000 units of various Historically, the average frame requires four feet of fram ing, one square foot of glass, and two square feet of backing. Beginning inventory includes 1,500 feet of framing, 500 square feet of glass, and 500 square feet of backing. Current prices are $0.90 per foot of framing, $8.00 per square foot of glass and $4 per square foot of backing. Ending inventory of materials...
Question 3 (10 marks; 18 minutes) Picture Pretty manufactures picture frames. Sales for August are expected...
Question 3 (10 marks; 18 minutes) Picture Pretty manufactures picture frames. Sales for August are expected to be 10,000 units of various sizes. Historically, the average frame requires four feet of framing, one square foot of glass, and two square feet of backing. Beginning inventory includes 1,500 feet of framing, 500 square feet of glass, and 500 square feet of backing Current prices are RO.30 per foot of framing. R6.00 per square foot of glass, and R2.25 per square foot...
of 4,400 units (solar panels) in July and 6.000 units in August inventory equal to 30%...
of 4,400 units (solar panels) in July and 6.000 units in August inventory equal to 30% of the next month's direct materials requirement As of June 30, the company has 2,640 pounds of direct al use. The company budgets production of 4,400 units (solar panels) in July and 6,000 units in August Each unit requires 4 hours of direct labor at a rate of $18 per hour Prepare a direct labor budget for July Direct Labor Budget Required information manufactures...
[The following information applies to the questions displayed below.) Iguana, Inc., manufactures bamboo picture frames that...
[The following information applies to the questions displayed below.) Iguana, Inc., manufactures bamboo picture frames that sell for $25 each. Each frame requires 4 linear feet of bamboo, which costs $2.00 per foot. Each frame takes approximately 30 minutes to build, and the labor rate averages $12.00 per hour. Iguana has the following inventory policies: • Ending finished goods Inventory should be 40 percent of next month's sales. • Ending direct materials Inventory should be 30 percent of next month's...
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Giantage Corporation produces windows used in residential construction. The company expects to produce 44,550 units next year. With regards to direct materials, each unit of product requires 12 square feet of glass at a cost of $1.50 per square foot. With regards to direct labor, each unit of product requires 2 labor hours at a cost of $15/hour. The following information relates to the manufacturing overhead budget. Variable Overhead Costs Indirect materials $2.50 per unit Indirect labor $3.20 per unit...
Iguana, Inc., manufactures bamboo picture frames that sell for $30 each. Each frame requires 4 linear...
Iguana, Inc., manufactures bamboo picture frames that sell for $30 each. Each frame requires 4 linear feet of bamboo, which costs $2.50 per foot. Each frame takes approximately 30 minutes to build, and the labor rate averages $12 per hour. Iguana has the following inventory policies: Ending finished goods inventory should be 40 percent of next month’s sales. Ending direct materials inventory should be 30 percent of next month’s production. Expected unit sales (frames) for the upcoming months follow: March...
(The following information applies to the questions displayed below.] Iguana, Inc., manufactures bamboo picture frames that...
(The following information applies to the questions displayed below.] Iguana, Inc., manufactures bamboo picture frames that sell for $25 each. Each frame requires 4 linear feet of bamboo, which costs $2.50 per foot. Each frame takes approximately 30 minutes to build, and the labor rate averages $14 per hour. Iguana has the following inventory policies • Ending finished goods inventory should be 40 percent of next month's sales. • Ending direct materials inventory should be 30 percent of next month's...
The production budget for Manner Company shows units to be produced as follows: July, 620; August,...
The production budget for Manner Company shows units to be produced as follows: July, 620; August, 680; and September, 540. Each unit produced requires two hours of direct labor. The direct labor rate is currently $20 per hour but is predicted to be $21 per hour in September. Augustus is predicted to be 25 Prepare a direct labor budget for the months July, August, and September. MANNER COMPANY Direct Labor Budget For July, August, and September July August 620 680...
Iguana, Inc., manufactures bamboo picture frames that sell for $25 each. Each frame requires 4 linear...
Iguana, Inc., manufactures bamboo picture frames that sell for $25 each. Each frame requires 4 linear feet of bamboo, which costs $2.50 per foot. Each frame takes approximately 30 minutes to build, and the labor rate averages $14 per hour. Iguana has the following inventory policies • Ending finished goods inventory should be 40 percent of next month's sales • Ending direct materials inventory should be 30 percent of next month's production Expected unit sales (frames) for the upcoming months...
Iguana, Inc., manufactures bamboo picture frames that sell for $25 each. Each frame requires 4 linear feet of bamboo, wh...
Iguana, Inc., manufactures bamboo picture frames that sell for $25 each. Each frame requires 4 linear feet of bamboo, which costs $2.50 per foot. Each frame takes approximately 30 minutes to build, and the labor rate averages $14 per hour. Iguana has the following inventory policies: Ending finished goods inventory should be 40% of next month’s sales Ending direct materials inventory should be 30% of next month’s production. Expected unit sales (frames) for the upcoming months follow: Expected unit sales...
ture Pretty manufactures picture frames. Sales for August are expected to be 10,000 units of various Historically, the average frame requires four feet of fram ing, one square foot of glass, and two square feet of backing. Beginning inventory includes 1,500 feet of framing, 500 square feet of glass, and 500 square feet of backing. Current prices are $0.90 per foot of framing, $8.00 per square foot of glass and $4 per square foot of backing. Ending inventory of materials...
Question 3 (10 marks; 18 minutes) Picture Pretty manufactures picture frames. Sales for August are expected to be 10,000 units of various sizes. Historically, the average frame requires four feet of framing, one square foot of glass, and two square feet of backing. Beginning inventory includes 1,500 feet of framing, 500 square feet of glass, and 500 square feet of backing Current prices are RO.30 per foot of framing. R6.00 per square foot of glass, and R2.25 per square foot...
of 4,400 units (solar panels) in July and 6.000 units in August inventory equal to 30% of the next month's direct materials requirement As of June 30, the company has 2,640 pounds of direct al use. The company budgets production of 4,400 units (solar panels) in July and 6,000 units in August Each unit requires 4 hours of direct labor at a rate of $18 per hour Prepare a direct labor budget for July Direct Labor Budget Required information manufactures...
[The following information applies to the questions displayed below.) Iguana, Inc., manufactures bamboo picture frames that sell for $25 each. Each frame requires 4 linear feet of bamboo, which costs $2.00 per foot. Each frame takes approximately 30 minutes to build, and the labor rate averages $12.00 per hour. Iguana has the following inventory policies: • Ending finished goods Inventory should be 40 percent of next month's sales. • Ending direct materials Inventory should be 30 percent of next month's...
(The following information applies to the questions displayed below.] Iguana, Inc., manufactures bamboo picture frames that sell for $25 each. Each frame requires 4 linear feet of bamboo, which costs $2.50 per foot. Each frame takes approximately 30 minutes to build, and the labor rate averages $14 per hour. Iguana has the following inventory policies • Ending finished goods inventory should be 40 percent of next month's sales. • Ending direct materials inventory should be 30 percent of next month's...
The production budget for Manner Company shows units to be produced as follows: July, 620; August, 680; and September, 540. Each unit produced requires two hours of direct labor. The direct labor rate is currently $20 per hour but is predicted to be $21 per hour in September. Augustus is predicted to be 25 Prepare a direct labor budget for the months July, August, and September. MANNER COMPANY Direct Labor Budget For July, August, and September July August 620 680...
Iguana, Inc., manufactures bamboo picture frames that sell for $25 each. Each frame requires 4 linear feet of bamboo, which costs $2.50 per foot. Each frame takes approximately 30 minutes to build, and the labor rate averages $14 per hour. Iguana has the following inventory policies • Ending finished goods inventory should be 40 percent of next month's sales • Ending direct materials inventory should be 30 percent of next month's production Expected unit sales (frames) for the upcoming months...
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