Lens Junction sells lenses for $46 each and is estimating sales of 14,000 units in January and 19,000 in February. Each lens consists of 2 pounds of silicon costing $2.50 per pound, 3 oz of solution costing $3 per ounce, and 45 minutes of direct labor at a labor rate of $20 per hour. Desired inventory levels are:

Jan. 31 Feb. 28 Mar. 31

Beginning inventory

Finished goods 4,600 4,700 5,000

Direct materials: silicon 8,400 9,200 9,400

Direct materials: solution 11,000 12,000 12,800

Question Content Area

Prepare a sales budget.

Lens JunctionSales BudgetFor the Two Months Ending February 28, 20XX

January February

Expected Sales (Units) fill in the blank e8e527f4afc2f81_1 fill in the blank e8e527f4afc2f81_2

Sales Price per Unit $fill in the blank e8e527f4afc2f81_3 $fill in the blank e8e527f4afc2f81_4

Total Sales Revenue $fill in the blank e8e527f4afc2f81_5 $fill in the blank e8e527f4afc2f81_6

Total $fill in the blank e8e527f4afc2f81_7

Question Content Area

Prepare a production budget.

Lens JunctionProduction BudgetFor the Two Months Ending February 28, 20XX

January February

Expected Sales fill in the blank ce0b0d03afaafe8_1 fill in the blank ce0b0d03afaafe8_2

- Select - - Select -

Total Required Units fill in the blank ce0b0d03afaafe8_6 fill in the blank ce0b0d03afaafe8_7

- Select - - Select -

Required Production fill in the blank ce0b0d03afaafe8_11 fill in the blank ce0b0d03afaafe8_12

Total fill in the blank ce0b0d03afaafe8_13

Question Content Area

Prepare direct materials budget for silicon.

Lens JunctionDirect Materials Budget for SiliconFor the Two Months Ending February 28, 20XX

January February

Units to be Produced fill in the blank 1bdd8101afbcf87_1 fill in the blank 1bdd8101afbcf87_2

Direct Material per Unit fill in the blank 1bdd8101afbcf87_3 fill in the blank 1bdd8101afbcf87_4

Total Ounces Needed for Production fill in the blank 1bdd8101afbcf87_5 fill in the blank 1bdd8101afbcf87_6

- Select - - Select -

Total Material Required fill in the blank 1bdd8101afbcf87_10 fill in the blank 1bdd8101afbcf87_11

- Select - - Select -

Ounces of Direct Material Purchase Requirements fill in the blank 1bdd8101afbcf87_15 fill in the blank 1bdd8101afbcf87_16

Cost per Ounce $fill in the blank 1bdd8101afbcf87_17 $fill in the blank 1bdd8101afbcf87_18

Total Cost of Direct Material Purchase $fill in the blank 1bdd8101afbcf87_19 $fill in the blank 1bdd8101afbcf87_20

Total Direct Materials Silicon for Two Months Ending February 28, 20XX $fill in the blank 1bdd8101afbcf87_21

Question Content Area

Prepare direct materials budget for solution.

Lens JunctionDirect Materials Budget for SolutionFor the Two Months Ending February 28, 20XX

January February

Units to be Produced fill in the blank 4110e00ccfc9fac_1 fill in the blank 4110e00ccfc9fac_2

Direct Material per Unit fill in the blank 4110e00ccfc9fac_3 fill in the blank 4110e00ccfc9fac_4

Total Ounces Needed for Production fill in the blank 4110e00ccfc9fac_5 fill in the blank 4110e00ccfc9fac_6

- Select - - Select -

Total Material Required fill in the blank 4110e00ccfc9fac_10 fill in the blank 4110e00ccfc9fac_11

- Select - - Select -

Ounces of Direct Material Purchase Requirements fill in the blank 4110e00ccfc9fac_15 fill in the blank 4110e00ccfc9fac_16

Cost per Ounce $fill in the blank 4110e00ccfc9fac_17 $fill in the blank 4110e00ccfc9fac_18

Total Cost of Direct Material Purchase $fill in the blank 4110e00ccfc9fac_19 $fill in the blank 4110e00ccfc9fac_20

Total Direct Materials Solution for Two Months Ending February 28, 20XX $fill in the blank 4110e00ccfc9fac_21

Question Content Area

Prepare a direct labor budget.

Lens JunctionDirect Labor BudgetFor the Two Months Ending February 28, 20XX

January February

Units to be Produced fill in the blank 099e88043018fae_1 fill in the blank 099e88043018fae_2

Direct Labor Hours per Unit fill in the blank 099e88043018fae_3 fill in the blank 099e88043018fae_4

Total Required Direct Labor Hours fill in the blank 099e88043018fae_5 fill in the blank 099e88043018fae_6

Labor Cost per Hour $fill in the blank 099e88043018fae_7 $fill in the blank 099e88043018fae_8

Total Direct Labor Cost $fill in the blank 099e88043018fae_9 $fill in the blank 099e88043018fae_10

Total Direct Labor Budget For Two Months Ending February 28, 20XX $fill in the blank 099e88043018fae_11

Question

Lens Junction sells lenses for $46 each and is estimating sales of 14,000 units in January and 19,000 in February. Each lens consists of 2 pounds of silicon costing $2.50 per pound, 3 oz of solution costing $3 per ounce, and 45 minutes of direct labor at a labor rate of $20 per hour. Desired inventory levels are:

	Jan. 31	Feb. 28	Mar. 31
Beginning inventory
Finished goods	4,600	4,700	5,000
Direct materials: silicon	8,400	9,200	9,400
Direct materials: solution	11,000	12,000	12,800

Question Content Area

Prepare a sales budget.

Lens JunctionSales BudgetFor the Two Months Ending February 28, 20XX

	January	February
Expected Sales (Units)	fill in the blank e8e527f4afc2f81_1	fill in the blank e8e527f4afc2f81_2
Sales Price per Unit	$fill in the blank e8e527f4afc2f81_3	$fill in the blank e8e527f4afc2f81_4
Total Sales Revenue	$fill in the blank e8e527f4afc2f81_5	$fill in the blank e8e527f4afc2f81_6
Total	$fill in the blank e8e527f4afc2f81_7

Question Content Area

Prepare a production budget.

Lens JunctionProduction BudgetFor the Two Months Ending February 28, 20XX

	January	February
Expected Sales	fill in the blank ce0b0d03afaafe8_1	fill in the blank ce0b0d03afaafe8_2
	- Select -	- Select -
Total Required Units	fill in the blank ce0b0d03afaafe8_6	fill in the blank ce0b0d03afaafe8_7
	- Select -	- Select -
Required Production	fill in the blank ce0b0d03afaafe8_11	fill in the blank ce0b0d03afaafe8_12
Total	fill in the blank ce0b0d03afaafe8_13

Question Content Area

Prepare direct materials budget for silicon.

Lens JunctionDirect Materials Budget for SiliconFor the Two Months Ending February 28, 20XX

	January	February
Units to be Produced	fill in the blank 1bdd8101afbcf87_1	fill in the blank 1bdd8101afbcf87_2
Direct Material per Unit	fill in the blank 1bdd8101afbcf87_3	fill in the blank 1bdd8101afbcf87_4
Total Ounces Needed for Production	fill in the blank 1bdd8101afbcf87_5	fill in the blank 1bdd8101afbcf87_6
	- Select -	- Select -
Total Material Required	fill in the blank 1bdd8101afbcf87_10	fill in the blank 1bdd8101afbcf87_11
	- Select -	- Select -
Ounces of Direct Material Purchase Requirements	fill in the blank 1bdd8101afbcf87_15	fill in the blank 1bdd8101afbcf87_16
Cost per Ounce	$fill in the blank 1bdd8101afbcf87_17	$fill in the blank 1bdd8101afbcf87_18
Total Cost of Direct Material Purchase	$fill in the blank 1bdd8101afbcf87_19	$fill in the blank 1bdd8101afbcf87_20
Total Direct Materials Silicon for Two Months Ending February 28, 20XX		$fill in the blank 1bdd8101afbcf87_21

Question Content Area

Prepare direct materials budget for solution.

Lens JunctionDirect Materials Budget for SolutionFor the Two Months Ending February 28, 20XX

	January	February
Units to be Produced	fill in the blank 4110e00ccfc9fac_1	fill in the blank 4110e00ccfc9fac_2
Direct Material per Unit	fill in the blank 4110e00ccfc9fac_3	fill in the blank 4110e00ccfc9fac_4
Total Ounces Needed for Production	fill in the blank 4110e00ccfc9fac_5	fill in the blank 4110e00ccfc9fac_6
	- Select -	- Select -
Total Material Required	fill in the blank 4110e00ccfc9fac_10	fill in the blank 4110e00ccfc9fac_11
	- Select -	- Select -
Ounces of Direct Material Purchase Requirements	fill in the blank 4110e00ccfc9fac_15	fill in the blank 4110e00ccfc9fac_16
Cost per Ounce	$fill in the blank 4110e00ccfc9fac_17	$fill in the blank 4110e00ccfc9fac_18
Total Cost of Direct Material Purchase	$fill in the blank 4110e00ccfc9fac_19	$fill in the blank 4110e00ccfc9fac_20
Total Direct Materials Solution for Two Months Ending February 28, 20XX		$fill in the blank 4110e00ccfc9fac_21

Question Content Area

Prepare a direct labor budget.

Lens JunctionDirect Labor BudgetFor the Two Months Ending February 28, 20XX

	January	February
Units to be Produced	fill in the blank 099e88043018fae_1	fill in the blank 099e88043018fae_2
Direct Labor Hours per Unit	fill in the blank 099e88043018fae_3	fill in the blank 099e88043018fae_4
Total Required Direct Labor Hours	fill in the blank 099e88043018fae_5	fill in the blank 099e88043018fae_6
Labor Cost per Hour	$fill in the blank 099e88043018fae_7	$fill in the blank 099e88043018fae_8
Total Direct Labor Cost	$fill in the blank 099e88043018fae_9	$fill in the blank 099e88043018fae_10
Total Direct Labor Budget For Two Months Ending February 28, 20XX		$fill in the blank 099e88043018fae_11

Accepted Answer

"Since you have posted a question with multiple sub parts, we will solve first three sub parts for…