Construct the raw materials purchases budget Аpril May June Quarter Required production (units) Raw materials required to produce one unit Production needs (pounds) |Add desired ending inventory of raw materials (pounds) Total needs (pounds) Less beginning inventory of raw materials (pounds) Raw materials to be purchased Cost of raw materials per pound Cost of raw materials to be purchased 5 5 5 5 5 $0.40 $0 $0 $0 $0 Construct the schedule of expected cash payments April May June Quarter |Accounts payable, beginning balance |April purchases May purchases June purchases |July purchases $0 $0 $0 $0 Total cash disbursements $0 $0 $0 $0 Construct the Direct Labor Budget Аpril May June Quarter Required Production Direct Labor per Unit Labor Hours Required Guaranted Labor Hours Labor Hours Paid Hourly Wage Rate Total Direct Labor Hour Costs 0.05 $10 $ Construct the Manufacturing Overhead Budget Аpril May June Quarter Budgeted DLH Viable Mgftrg OH rate 20 Viable Mgftrg OH Cost Fixed Mgftrg OH Cost Total Mgftrg OH Cost Less: Noncash Items $0 #DIV/ 0! $0 O/H Rate = $0 $0 Cash Dsibursements for OH e tе tе Ending Finished Goods Invesntory Direct Materials Direct Labor #DIV / 0! 0.05 Overhead #DIV/0! Total Cost 4.99 Number of Good in Ending Inventory Ending Finished Goods Inventory Construct Selling & Administrative Budget May Аpril June Quarter Budget Sales Variable S&A Rate $0.50 Variable Expenses Fixed S& A Expenses Total S&A Expenses $0 Less: Non-cash Items Total Cash S&A Expenses Construct Final Cash Budget Аpril May June Quarter Beginning Cash Balances Add: Cash Collections $0 Total Cash Available Less Cash Disbursements Materials $0 Labor $0 Manu OH $0 S&A $0 Equioment Purchases Dividends $0 $0 Total $0 $0 Excess/(Deficiency) Financing: Borrowings Repayments Interest $0 $0 $ Total Financing Ending Cash Balance Prepare Income Statement Sales COGS Gross Margin $0 30 6е tе ее 30 не се е е tа
Construct the raw materials purchases budget Аpril May June Quarter Required production (units) Raw materials required to produce one unit Production needs (pounds) |Add desired ending inventory of raw materials (pounds) Total needs (pounds) Less beginning inventory of raw materials (pounds) Raw materials to be purchased Cost of raw materials per pound Cost of raw materials to be purchased 5 5 5 5 5 $0.40 $0 $0 $0 $0 Construct the schedule of expected cash payments April May June Quarter |Accounts payable, beginning balance |April purchases May purchases June purchases |July purchases $0 $0 $0 $0 Total cash disbursements $0 $0 $0 $0 Construct the Direct Labor Budget Аpril May June Quarter Required Production Direct Labor per Unit Labor Hours Required Guaranted Labor Hours Labor Hours Paid Hourly Wage Rate Total Direct Labor Hour Costs 0.05 $10 $ Construct the Manufacturing Overhead Budget Аpril May June Quarter Budgeted DLH Viable Mgftrg OH rate 20 Viable Mgftrg OH Cost Fixed Mgftrg OH Cost Total Mgftrg OH Cost Less: Noncash Items $0 #DIV/ 0! $0 O/H Rate = $0 $0 Cash Dsibursements for OH e tе tе Ending Finished Goods Invesntory Direct Materials Direct Labor #DIV / 0! 0.05 Overhead #DIV/0! Total Cost 4.99 Number of Good in Ending Inventory Ending Finished Goods Inventory Construct Selling & Administrative Budget May Аpril June Quarter Budget Sales Variable S&A Rate $0.50 Variable Expenses Fixed S& A Expenses Total S&A Expenses $0 Less: Non-cash Items Total Cash S&A Expenses Construct Final Cash Budget Аpril May June Quarter Beginning Cash Balances Add: Cash Collections $0 Total Cash Available Less Cash Disbursements Materials $0 Labor $0 Manu OH $0 S&A $0 Equioment Purchases Dividends $0 $0 Total $0 $0 Excess/(Deficiency) Financing: Borrowings Repayments Interest $0 $0 $ Total Financing Ending Cash Balance Prepare Income Statement Sales COGS Gross Margin $0 30 6е tе ее 30 не се е е tа
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter8: Budgeting For Planning And Control
Section: Chapter Questions
Problem 3CE: Refer to Cornerstone Exercise 8.2 for the production budgets for practice balls and match balls....
Related questions
Question
Transcribed Image Text:Construct the raw materials purchases budget
Аpril
May
June
Quarter
Required production (units)
Raw materials required to produce one unit
Production needs (pounds)
|Add desired ending inventory of raw materials (pounds)
Total needs (pounds)
Less beginning inventory of raw materials (pounds)
Raw materials to be purchased
Cost of raw materials per pound
Cost of raw materials to be purchased
5
5
5
5
5
$0.40
$0
$0
$0
$0
Construct the schedule of expected cash payments
April
May
June
Quarter
|Accounts payable, beginning balance
|April purchases
May purchases
June purchases
|July purchases
$0
$0
$0
$0
Total cash disbursements
$0
$0
$0
$0
Construct the Direct Labor Budget
Аpril
May
June
Quarter
Required Production
Direct Labor per Unit
Labor Hours Required
Guaranted Labor Hours
Labor Hours Paid
Hourly Wage Rate
Total Direct Labor Hour Costs
0.05
$10
$
Construct the Manufacturing Overhead Budget
Аpril
May
June
Quarter
Budgeted DLH
Viable Mgftrg OH rate
20
Viable Mgftrg OH Cost
Fixed Mgftrg OH Cost
Total Mgftrg OH Cost
Less: Noncash Items
$0
#DIV/ 0!
$0 O/H Rate =
$0
$0
Cash Dsibursements for OH
e
tе
tе
Transcribed Image Text:Ending Finished Goods Invesntory
Direct Materials
Direct Labor
#DIV / 0!
0.05
Overhead
#DIV/0!
Total Cost
4.99
Number of Good in Ending Inventory
Ending Finished Goods Inventory
Construct Selling & Administrative Budget
May
Аpril
June
Quarter
Budget Sales
Variable S&A Rate
$0.50
Variable Expenses
Fixed S& A Expenses
Total S&A Expenses
$0
Less: Non-cash Items
Total Cash S&A Expenses
Construct Final Cash Budget
Аpril
May
June
Quarter
Beginning Cash Balances
Add: Cash Collections
$0
Total Cash Available
Less Cash Disbursements
Materials
$0
Labor
$0
Manu OH
$0
S&A
$0
Equioment Purchases
Dividends
$0
$0
Total
$0
$0
Excess/(Deficiency)
Financing:
Borrowings
Repayments
Interest
$0
$0
$
Total Financing
Ending Cash Balance
Prepare Income Statement
Sales
COGS
Gross Margin
$0
30
6е
tе
ее
30
не
се
е
е
tа
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 5 steps with 4 images
Recommended textbooks for you
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
