Please do not give solution in image format thanku Bonkowski Corporation makes one product and has provided the following information to help prepare the master budget for the nextfour months of operations:Budgeted selling price per unitBudgeted unit sales (all on credit):JanuaryFebruaryMarchAprilRaw materials requirement per unit of outputRaw materials costDirect labor requirement per unit of outputDirect labor wage ratePredetermined overhead rate (all variable)Variable selling and administrative expense$ 9710,00012,00013,30015,2004$1.002.5$ 3.10pounds$23.00 per direct labor-hour$9.00per direct labor-hourper unit soldper month$ 70,000per pounddirect labor-hours.Fixed selling and administrative expenseCredit sales are collected:30% in the month of the sale70% in the following monthRaw materials purchases are paid:30% in the month of purchase70% in the following monthThe ending finished goods inventory should equal 30% of the following month's sales. The ending raw materials inventory should equal10% of the following month's raw materials production needs.The estimated direct labor cost for February is closest to:

The budget is prepared to estimate the requirements for the period. The direct labor cost is…

Budgeted selling price per unit Budgeted unit sales (all on credit): January February March April Raw materials requirement per unit of output Raw materials cost Direct labor requirement per unit of output Direct labor wage rate $ 97 10,000 12,000 13,300 15,200 4 $1.00 2.5 $23.00 $9.00 $ 3.10 pounds $ 70,000 per pound Predetermined overhead rate (all variable) Variable selling and administrative expense Fixed selling and administrative expense Credit sales are collected: 30% in the month of the sale 70% in the following month Raw materials purchases are paid: 30% in the month of purchase 70% in the following month The ending finished goods inventory should equal 30% of the following month's sales. The ending raw materials inventory should equal 10% of the following month's raw materials production needs. The estimated direct labor cost for February is closest to: direct labor-hours. per direct labor-hour per direct labor-hour per unit sold per month

Budgeted selling price per unit Budgeted unit sales (all on credit): January February March April Raw materials requirement per unit of output Raw materials cost Direct labor requirement per unit of output Direct labor wage rate $ 97 10,000 12,000 13,300 15,200 4 $1.00 2.5 $23.00 $9.00 $ 3.10 pounds $ 70,000 per pound Predetermined overhead rate (all variable) Variable selling and administrative expense Fixed selling and administrative expense Credit sales are collected: 30% in the month of the sale 70% in the following month Raw materials purchases are paid: 30% in the month of purchase 70% in the following month The ending finished goods inventory should equal 30% of the following month's sales. The ending raw materials inventory should equal 10% of the following month's raw materials production needs. The estimated direct labor cost for February is closest to: direct labor-hours. per direct labor-hour per direct labor-hour per unit sold per month

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 3PB: TIB makes custom guitars and prepared the following sales budget for the second quarter It also has...

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