Solution:
Compuatation of Unit Product Cost - Iguana Inc. | |
Particulars | Per Unit Cost |
Direct Material (4*$2.50) | $10.00 |
Direct labor (0.5 * $14) | $7.00 |
Variable manufacturing overhead | $0.60 |
Fixed manufacturing overhead | $2.40 |
Unit Product Cost | $20.00 |
Budgeted Income Statement - Iguana Inc. | ||||
Particulars | April | May | June | 2nd Quarter Total |
Estimated Unit sales | 330 | 380 | 480 | 1190 |
Budgeted Sales (Unit Sales * Selling price) | $8,250.00 | $9,500.00 | $12,000.00 | $29,750.00 |
Budgeted Cost of goods Sold | $6,600.00 | $7,600.00 | $9,600.00 | $23,800.00 |
Budgeted Gross Margin | $1,650.00 | $1,900.00 | $2,400.00 | $5,950.00 |
Selling and Administrative Expenses: | ||||
Variable | $165.00 | $190.00 | $240.00 | $595.00 |
Fixed | $650.00 | $650.00 | $650.00 | $1,950.00 |
Budgeted Net Operating Income | $835.00 | $1,060.00 | $1,510.00 | $3,405.00 |
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 follow March...
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 raw 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 $20 each. Each frame requires 4 linear feet of bamboo, which costs $1.50 per foot. Each frame takes approximately 30 minutes to build, and the labor rate averages $13 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, 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. Which cost $2.00 per foot . Each frame takes approximately 30 minuets to build, and the labor rate averages $13 per hour. Iguana has the following inventory policies. Ending finished goods inventory should be 40 percent of the next month's of sales Ending raw materials inventory should be 30 percent of next month;s productions. Expected unit sales (frames ) for the...
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 raw 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, 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 raw 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, 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 unlt 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, 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 raw 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, 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 raw materials inventory should be 30 percent of next month's production. Expected unit sales (frames) for the upcoming months...