Question

Dockers and 501® Jeans. Slacks and jeans are assembled by a variety of different sew- as weekday and weekend day. and average weekend day. Format the budget in two columns, labeled OBJ. 4 uction 3,300 EX 22-14 Production and direct labor cost budgets Levi Strauss & Co. manufactures slacks and jeans under a variety of brand names, such as ing operations. Assume that the sales budget for Dockers and 501 Jeans shows estimated sales of 23,600 and 53,100 pairs, respectively, for May. The finished goods inventory is assumed as follows: Dockers 501 Jeans May 1 estimated inventory 670 1,660 May 31 desired inventory 420 1,860 Assume the following direct labor data per 10 pairs of Dockers and 501 Jeans for four different sewing operations: Direct Labor per 10 Pairs Dockers 501 Jeans Inseam 18 minutes 9 minutes Outerseam 20 14 Pockets 6 9 6 Zipper 12 Total 56 minutes 38 minutes a. Prepare a production budget for May. Prepare the budget in two columns: Dockers and 501 Jeans b. Prepare the May direct labor cost budget for the four sewing operations, assuming a $13 wage per hour for the inseam and outerseam sewing operations and a $15 wage per hour for the pocket and zipper sewing operations. Prepare the direct labor cost budget in four columns: inseam, outerseam, pockets, and zipper. EX 22-15 Factory overhead cost budget OBJ. 4 Candy Company budgeted the following costs for anticipated production

Can you show me the formula or equation to get the right answer. EX 22-14

Answer 1

Levi Strauss & Co. Production Budget For the Month of May Budgeted Sales Add: Closing inventory as on May 31 Total Needs Less: Opening Inventory as on May 1 Production Budget (pairs) Dockers 501 Jeans 23,600 53,100 420 1,860 24,020 54,960 670 1,660 23,350 53,300 Levi Strauss & Co. Direct Labor Cost Budget For the Month of May Inseam Outstream Pockets Zipper Total Budgeted Labor hours 1,500 2,022 1,033 1,000 Budgeted direct labor hour rate $13 Budgeted Direct labor cost ( labor hours * labor rate/hour) $19,500 $26,286 $15,495 $15,000 $76,281 $13 $15 $15 Working notes: Inseam Outstream Pockets Zipper Dockers Production units Minutes per 10 pair Total minutes (production/10 *60) Total hours (Total minutes/ 60) 23,350 18 42,030 700.50 23,350 23,350 20 6 46,700 14,010 778.33 233.50 23,350 12 28,0201 467.00 a 501 Jeans Output Minutes per 10 pair Total minutes (production/10 *60) Total hours (Total minutes/ 60) 53,300 9 47,970 799.50 53,300 53,300 14 9 74,620 47,970 1,243.67 799.50 53,3001 6 31,980 533.00 b Total hours Hourly rate Total Direct labor cost 1,500.00 $13 $19,500 2,022.00 1,033.00 1,000.00 a+b $15 $26,286 $15,495 $15,000 $13 $15