Part-e
Total manufacturing overhead cost = variable cost per unit x total number of units produced
= ( variable cost per unit of broncos blanket x total number of units used ) +(variable cost per unit of rams blanket x total number of units used )
= (175 x 150 )+(227 + 205)= 72785
Notes-
Part -f
Unit cost for the finished good ending on March 31 | ||||||
Product | ||||||
Broncos Rams | ||||||
Cost p.u. | input per unit of output | Total | Cost p.u. | input per unit of output | Total | |
wool | 11 | 5 yards | 55 | 13 | 6 yards | 78 |
Logs | 8 | 1 | 8 | 9 | 1 | 9 |
Direct manufacturing labour | 28 | 4 hrs | 112 | 28 | 5 hrs | 140 |
Fixed manufacturing overheads | 9 | 4 hrs | 36 | 9 | 5 hrs | 45 |
Variable manufacturing overheads | 17 | 4 hrs | 68 | 17 | 5 hrs | 85 |
Total | 279 | 357 |
Notes-
To find the Fixed manufacturing overheads for a unit we will divide the cost of Fixed manufacturing overheads by total operations hours
, so as the Fixed manufacturing overheads is given i.e. 14625 and operation hours = ( broncos blanket unit produced x time taken for one unit )+ (Rams blanket unit produced x time taken for one unit ) i.e. (4 x 150) +(5 x 205) = 1625 hours
so per unit cost = 14625/1625 = 9
Ending inventory budget 31 March 17 | ||||
Quantity | Cost P.u. | Total | ||
Direct material | ||||
Red wool | 30 | 11 | 330 | |
Black wool | 20 | 13 | 260 | |
Broncos logo | 30 | 8 | 240 | |
Rams logo | 30 | 9 | 270 | 1100 |
Finished goods | ||||
Broncos Blanket | 24 | 279 | 6696 | |
Rams blanket | 29 | 357 | 10353 | 17049 |
Total ending inventory | 18149 |
Part - g
Cost of good sold budget 31 march 2017 | ||
Beginning finished goods inventory | 4905 | |
Direct material used | 27080 | |
Direct manufacturing labour | 45500 | |
Manufacturing overhead | 14625 | |
Cost of goods manufactured | 92110 | |
Cost of goods available for sale | 0 | |
Deduct ending finished goods inventory | 18149 | |
Cost of goods sold | 73961 |
* cost of goods to sale will be 0 as no admin and similar cost is given.
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