Assignment 8 Enterprise Budget

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Question 4 A company manufactures two products, SAMS and JAMS. Budgeted sales for next year are : Product SAMS 2400 units at Ghc 45 per unit Product JAMS 450units at Ghc 60 per unit. Standard cost data for the products for next year are as follows; Product SAMS per Unit Product JAMS per Unit Direct Materials U at GH 2 per Kg 24kg 30kg V at GH 5 per Kg 10kg 8kg W at GH 6 per Kg 5kg 10kg Direct Wages Unskilled at GH5 per hour 10 hours 5 hours Skilled at GH 10 per hour 6 hours 5 hours Budgeted stocks for next year are as follows: SAMS (Units) JAMS (Units) 01-Jan 400 800 31-Dec 500 1100 Material U Material V Material W 01-Jan 30000 25000 12000 31-Dec 35000 27000 12500 Prepare the following budgets for next year; a. Sales budget in cash b. Production budget, in units c. Material usage budget, in kg and in cash d. Direct labour budget, in hours and in cash

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6  Bichette Company provided the following information:   Budgeted input 12,000 kilograms Actual input 15,000 litres Budgeted production 5,000 units Actual production 4,750 units   What is the partial productivity ratio?   Select one: a. 3.16 units per kilogram b.2.40 units per kilogram c. 0.80 units per kilogram d. 0.32 units per kilogram e. 0.42 units per kilogram

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Problem solving 41A. Great Lakes Inc. makes and sells t-shirts. Each t-shirt uses 1.5 metres of fabric. Budgeted production of t-shirts in units for the next five months is as follows: May June Budgeted production 32,000 28,000 The company wants to maintain monthly ending inventories of fabric equal to 15% of the following month's budgeted production needs. The cost of fabric is $3.50 per metre. Prepare a direct materials purchases budget for the month of July. July August September 26,000 24,000 22,000 41B. Camping Out Co. manufactures down sleeping bags. Each sleeping bag requires 4 kilograms of down and takes .3 hours of direct labour. The standard cost of the down used by Camping Out is $8 per kilogram and the standard labour cost is $10 per hour. In November, Camping Out purchased 15,000 kilograms of down for $120,750. During the year, the company manufactured 4,000 sleeping bags. Payroll reported a total of 1,480 direct labour hours at a cost of $14,060. Instructions a. b.…

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Smart Manufacturing budgeted costs for 50,000 linear feet of block are: Fixed manufacturing costs    $24,000 per month Variable manufacturing costs    $16.00 per linear foot Smart installed 40,000 linear feet of block during March. How much is budgeted total manufacturing costs in March? Group of answer choices $640,000 $824,000 $664,000 $800,000

1. Schuh Corporation manufactures product AB1 which requires a raw material called X2. In order to make one unit of AB1, 2.5 kgs of raw materials are used. Budgeted production of AB1 for the first 5 months are as follows : January. . 28,000 units February . .27,500 units March. 28,000 units April.. .29,500 units May.. ..27,000 units The company wants to maintain an ending inventory equal to 30% of the following months raw material needs for production. Raw material costs $10 per unit. Schuh Corporation now wants to make a Direct Material Budget. What should be the dollar value of the ending inventory for the month of February, on the direct material budget?

Toblerone Chocolate Company produces high quality chocolates and candles for sales throughout the world. It's budgeted production for ned year as Multiple Choice O 63,200 pounds First 10,000 62,400 pounds Quarter Production in units Four pounds of raw materials are required for each unit produced. Raw materials on hand at the start of the year total 4,000 pounds. The raw materials mventory at the end of each quarter should equal 10% of the next quarter's production needs. Budgeted purchases of raw materials in the third quarter would be: Second 12,000 Third 16,000 Fourth 14,000

Budget Performance Report Salisbury Bottle Company manufactures plastic two-liter bottles for the beverage industry. The cost standards per 100 two-liter bottles are as follows: Cost Category Standard Costper 100 Two-LiterBottles Direct labor   $1.20       Direct materials   6.50       Factory overhead   1.80         Total   $9.50       At the beginning of March, Salisbury’s management planned to produce 500,000 bottles. The actual number of bottles produced for March was 525,000 bottles. The actual costs for March of the current year were as follows: Cost Category Actual Cost for theMonth Ended March 31 Direct labor         $6,550         Direct materials         33,800         Factory overhead         9,100           Total         $49,450         a.  Prepare the March manufacturing standard cost budget (direct labor, direct materials, and factory overhead) for Salisbury, assuming planned production. Salisbury Bottle Company Manufacturing Cost…

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f2 Four grams of musk oil are required for each bottle of Mink Caress, a very popular perfume made by a small company in western Siberia. The cost of the musk oil is $1.70 per gram. Budgeted production of Mink Caress is given below by quarters for Year 2 and for the first quarter of Year 3: Units of raw materials needed per unit of finished goods Units of raw materials needed to meet production Total units of raw materials needed Units of raw materials to be purchased Unit cost of raw materials Cost of raw materials to purchased Required: Prepare a direct materials budget for musk oil, by quarter and in total, for Year 2. f3 First 92,000 Budgeted production, in bottles. The inventory of musk oil at the end of a quarter must be equal to 20% of the following quarter's production needs. Some 73,600 grams of musk oil will be on hand to start the first quarter of Year 2. f4 fs Second 122,000 First Mink Caress Direct Materials Budget - Year 2 f6 Year 2 Q Search 4- Third 182,000 Second f7…

Lean Accounting The annual budgeted conversion costs for a lean cell are $155,800 for 1,900 production hours. Each unit produced by the cell requires 9 minutes of cell process time. During the month, 2,790 units are manufactured in the cell. The estimated materials costs are $76 per unit.   (Round the per unit cost to the nearest cent and use in subsequent computations. If required, round your answers to the nearest dollar.) Journalize the following entries for the month: a.  Materials are purchased to produce 2,940 units.   b.  Conversion costs are applied to 2,790 units of production. c.   The cell completes 2,650 units, which are placed into finished goods. If an amount box does not require an entry, leave it blank. a.   ? ?     ? ? b.   ? ?     ? ? c.   ? ?     ? ?

Sun Valley showed the following on its direct materials budget for May: Units to be produced 62,500 Total kilos needed for production 5,000 Total kilos of materials to be purchased 7,500 The materials cost P2.50 per kilo. How much is the cost of direct materials per unit? • Cost of Direct Materials per Unit = Materials Cost x Total kilos needed for production/ Units to be produced a. Php 0.20 Ob. Php 0.30 C. Php 8.33

Budget Performance Report Genie in a Bottle Company (GBC) manufactures plastic two-liter bottles for the beverage industry. The cost Performance goals, often relating to how much a product should cost.standards per 100 two-liter bottles are as follows: Cost Category Standard Costper 100 Two-LiterBottles Direct labor   $1.34       Direct materials   5.74       Factory overhead   0.34         Total   $7.42       At the beginning of July, GBC management planned to produce 500,000 bottles. The actual number of bottles produced for July was 540,000 bottles. The actual costs for July of the current year were as follows: Cost Category Actual Cost for theMonth Ended July 31 Direct labor         $7,091         Direct materials         30,252         Factory overhead         1,854           Total         $39,197         Enter all amounts as positive numbers. a.  Prepare the July manufacturing A detailed estimate of what a product should cost.standard cost…

Developing a Master Budgetfor a Manufacturing OrganizationJacobs Incorporated manufactures a product with a selling price of $50 per unit. Units and monthly cost data follow: Variable:   Selling and administrative $5 per unit sold Direct materials 10 per unit manufactured Direct labor 10 per unit manufactured Variable manufacturing overhead 5 per unit manufactured Fixed:   Selling and administrative $20,000 per month Manufacturing (including depreciation of $10,000) 30,000 per month   Jacobs pays all bills in the month incurred. All sales are on account with 50 percent collected the month of sale and the balance collected the following month. There are no sales discounts or bad debts. Jacobs desires to maintain an ending finished goods inventory equal to 20 percent of the following month's sales and a raw materials inventory equal to 10 percent of the following month's production. January 1, 2011, inventories are in line with these policies. Actual unit…

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Budget Performance Report Genie in a Bottle Company (GBC) manufactures plastic two-liter bottles for the beverage industry. The cost standards per 100 two-liter bottles are as follows: Cost Category               Standard Cost per 100 Two-Liter Bottles Direct labor                                            $2.00Direct materials                                       9.10Factory overhead                                     0.55Total                                                       $11.65At the beginning of July, GBC management planned to produce 400,000 bottles. The actual number of bottles produced for July was 406,000 bottles. The actual costs for July of the current year were as follows: Cost Category                       Actual Cost for the Month Ended July 31 Direct labor                                                  $7,540Direct materials                                            35,750Factory overhead                                          2,680Total…

Cost of goods sold budgetQuetzaltenango Candle Inc. budgeted production of 685,000 candles for March. Each candle requires molding. Assume that 6 minutes are required to mold each candle. If molding labor costs$15 per hour, determine the direct labor cost budget for March. Wax is required to produce acandle. Assume 342,000 pounds of material will be purchased during March. The candlewax costs$120 per pound.Prepare• a cost of goods sold budget for Quetzaltenango Candle Inc. using the information above. Assume the estimated inventories on March 1 for finished goods and work in process wei$300,000 and $41,250, respectively and direct materials wax inventory of 15,000 pounds. Alsoassume the desired inventories on March 31 for finished goods and work in process were$200,000 and $28,500, respectively and directmaterials wax inventory of 14,500 pounds.• Factory overhead was budgeted at $400,000. For those boxes in which you must enter subtracted ornegative numbers use à minus sign.…

Question 1: Asan Ltd manufactures two products. The following budgeted information relates to each product. Product Alpha 70 12 Product Beta Selling Price Per Unit Direct Materials Cost Per Unit Cost per kg of material Direct Labour Hours Per Unit Direct Labour Wage Rate Per Hour Variable Overheads Per Unit Production and sales per month (units) Fixed overheads per month 90 20 4 6. 3 7800 92000 3100 43000 Required Calculate the following for each Product, based on the information given above: a. i. Contribution per unit i. Break even point in terms of Sales Units and Sales Revenue i. Margin of Safety as a % of normal production iv. Budgeted Profit per month The production manager has been warned that there could be a shortfall of material during the next month due to transportation strike. He estimates that there will be 20,000 kilograms available. Calculate the amount of units that should be produced in order to maximise profit/minimise loss and calculate the estimated profit/loss…