Homework Answers
| MIAMI SOLAR | |
| Direct Material Purchase Budget | |
| For the month ended July | |
| Budget Production (Units) | 4,400 |
| Qty. of material needed per unit | 2 |
| Qty. needed for production | 8,800 |
| Desired ending DM | 3,600 |
| Total quantity needed | 12,400 |
| Beginning DM | 2,640 |
| Qty. to be purchased | 9,760 |
| cost per unit | 5 |
| Total cost DM purchased | 48,800 |
| MIAMI SOLAR | |
| Direct Labor Budget | |
| For the month ended July | |
| Budget Production (Units) | 4,400 |
| Direct Labor hour per unit | 4 |
| Total DL hours needed | 17,600 |
| Direct Labor cost per hour | 18 |
| Cost of Labor | 316,800 |
| MIAMI SOLAR | |
| Factory Overhead Budget | |
| For the month ended August | |
| Budget Production (Units) | 6,000 |
| Labor Cost | 432,000 |
| Variable Factory Overhead @ 70% | 302,400 |
| Fixed Overhead | 185,000 |
| Total Overhead Budget | 487,400 |
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of 4,400 units (solar panels) in July and 6.000 units in August inventory equal to 30%...
Miami Solar manufactures solar panels for industrial use. The company budgets production of 5,800 units (solar...
Miami Solar manufactures solar panels for industrial use. The company budgets production of 5,800 units (solar panels) in July and 5,400 units in August Each unit requires 4 pounds of direct materials, which cost $7 per pound. The company's policy is to maintain direct materials inventory equal to 30 % of the next month's direct materials requirement. As of June 30, the company has 6,960 pounds of direct materials in inventory, which complies with the policy. Prepare a direct materials...
Each unit requires 4 pounds of direct materials, which cost $5 per pound. The company's policy...
Each unit requires 4 pounds of direct materials, which cost $5 per pound. The company's policy is to maintain direct materials inventory equal to 40% of the next month's direct materials requirement. As of June 30, the company has 7,520 pounds of direct materials in inventory, which complies with the policy. Prepare a direct materials budget for July. MIAMI SOLAR Direct Materials Budget 4,700 4 For Month Ended July 31 Budget production (units) Materials requirements per unit Materials needed for...
Required information Use the following information for the Quick Study below. Miami Solar manufactures solar panels...
Required information Use the following information for the Quick Study below. Miami Solar manufactures solar panels for industrial use. The company budgets production of 4,400 units (solar panels) in July and 5.900 units in August QS 7-13 Manufacturing: Direct materials budget LO P1 Each unit requires 2 pounds of direct materials, which cost $6 per pound. The company's policy is to maintain direct materials Inventory equal to 30% of the next month's direct materials requirement. As of June 30, the...
Check my work Required information Use the following information for the Quick Study below. Miami Solar...
Check my work Required information Use the following information for the Quick Study below. Miami Solar manufactures solar panels for industrial use. The company budgets production of 5,100 units (solar panels) in July and 5,800 units in August Part 2 of 3 125 points QS 20-14 Manufacturing: Direct labor budget LO P1 Book Each unit requires 5 hours of direct labor at a rate of $13 per hour. Prepare a direct labor budget for July MIAMI SOLAR Direct Labor Budget...
The company plans for finished goods inventory of 220 units at the end of June. In...
The company plans for finished goods inventory of 220 units at
the end of June. In addition, each finished unit requires 5 pounds
of direct materials and the company wants to end each month with
direct materials inventory equal to 20% of next month’s production
needs. Beginning direct materials inventory for April was 540
pounds. Direct materials cost $2 per pound. Each finished unit
requires 0.60 hours of direct labor at the rate of $12 per hour.
The company budgets...
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...
The production budget for Manner Company shows units to be produced as follows: July, 670; August,...
The production budget for Manner Company shows units to be produced as follows: July, 670; August, 730; and September, 590. Each unit produced requires three hours of direct labor. The direct labor rate is currently $15 per hour but is predicted to be $15.75 per hour in September Prepare a direct labor budget for the months July, August, and September. MANNER COMPANY Direct Labor Budget For July, August, and September July August 670 730 September 590 units Budgeted production (units)...
The production budget for Manner Company shows units to be produced as follows: July, 550; August,...
The production budget for Manner Company shows units to be produced as follows: July, 550; August, 610; and September, 470. Each unit produced requires three hours of direct labor. The direct labor rate is currently $16 per hour but is predicted to be $16.75 per hour in September. Prepare a direct labor budget for the months July, August, and September. MANNER COMPANY Direct Labor Budget For July, August, and September July August September Budgeted production (units) 550 610 470 units...
The production budget for Manner Company shows units to be produced as follows: July, 590; August, 650; and Septemb...
The production budget for Manner Company shows units to be produced as follows: July, 590; August, 650; and September, 510. Each unit produced requires one hour of direct labor. The direct labor rate is currently $16 per hour but is predicted to be $16.75 per hour in September Prepare a direct labor budget for the months July, August, and September. MANNER COMPANY Direct Labor Budget For July, August, and September July August 590 Budgeted production (units) September 510 units Total...
Skybird has forecast sales for the next three months as follows: 4.000 units, August 6.000 units,...
Skybird has forecast sales for the next three months as follows: 4.000 units, August 6.000 units, September 7.500 is projected to be 1500 units, Morthy costs are budgeted as follows . Skybudspolicy is to have an ending hertory of 40% of the next more on hand try $17.000 $10.00 Fixed manufacturing costs Fixed selling costs Fixed administrative costs Variable manufacturing costs Variable selling costs 8,00 $6 per unit produced What is budgeted manufacturing overhead cout for July? M Choice 0...
Miami Solar manufactures solar panels for industrial use. The company budgets production of 5,800 units (solar panels) in July and 5,400 units in August Each unit requires 4 pounds of direct materials, which cost $7 per pound. The company's policy is to maintain direct materials inventory equal to 30 % of the next month's direct materials requirement. As of June 30, the company has 6,960 pounds of direct materials in inventory, which complies with the policy. Prepare a direct materials...
Each unit requires 4 pounds of direct materials, which cost $5 per pound. The company's policy is to maintain direct materials inventory equal to 40% of the next month's direct materials requirement. As of June 30, the company has 7,520 pounds of direct materials in inventory, which complies with the policy. Prepare a direct materials budget for July. MIAMI SOLAR Direct Materials Budget 4,700 4 For Month Ended July 31 Budget production (units) Materials requirements per unit Materials needed for...
Required information Use the following information for the Quick Study below. Miami Solar manufactures solar panels for industrial use. The company budgets production of 4,400 units (solar panels) in July and 5.900 units in August QS 7-13 Manufacturing: Direct materials budget LO P1 Each unit requires 2 pounds of direct materials, which cost $6 per pound. The company's policy is to maintain direct materials Inventory equal to 30% of the next month's direct materials requirement. As of June 30, the...
Check my work Required information Use the following information for the Quick Study below. Miami Solar manufactures solar panels for industrial use. The company budgets production of 5,100 units (solar panels) in July and 5,800 units in August Part 2 of 3 125 points QS 20-14 Manufacturing: Direct labor budget LO P1 Book Each unit requires 5 hours of direct labor at a rate of $13 per hour. Prepare a direct labor budget for July MIAMI SOLAR Direct Labor Budget...
The company plans for finished goods inventory of 220 units at
the end of June. In addition, each finished unit requires 5 pounds
of direct materials and the company wants to end each month with
direct materials inventory equal to 20% of next month’s production
needs. Beginning direct materials inventory for April was 540
pounds. Direct materials cost $2 per pound. Each finished unit
requires 0.60 hours of direct labor at the rate of $12 per hour.
The company budgets...
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...
The production budget for Manner Company shows units to be produced as follows: July, 670; August, 730; and September, 590. Each unit produced requires three hours of direct labor. The direct labor rate is currently $15 per hour but is predicted to be $15.75 per hour in September Prepare a direct labor budget for the months July, August, and September. MANNER COMPANY Direct Labor Budget For July, August, and September July August 670 730 September 590 units Budgeted production (units)...
The production budget for Manner Company shows units to be produced as follows: July, 590; August, 650; and September, 510. Each unit produced requires one hour of direct labor. The direct labor rate is currently $16 per hour but is predicted to be $16.75 per hour in September Prepare a direct labor budget for the months July, August, and September. MANNER COMPANY Direct Labor Budget For July, August, and September July August 590 Budgeted production (units) September 510 units Total...
Skybird has forecast sales for the next three months as follows: 4.000 units, August 6.000 units, September 7.500 is projected to be 1500 units, Morthy costs are budgeted as follows . Skybudspolicy is to have an ending hertory of 40% of the next more on hand try $17.000 $10.00 Fixed manufacturing costs Fixed selling costs Fixed administrative costs Variable manufacturing costs Variable selling costs 8,00 $6 per unit produced What is budgeted manufacturing overhead cout for July? M Choice 0...
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