prepare Direct Labor Budget
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Siti runs a small factory in Kuala Pilah producing banana chips. She normally sells 10,000 packets at RM5.00 per packet. She is now planning for next month’s sales and the following information is given:
Raw material required is 1000 kg of bananas at RM1.30 per kg. The labor rate is RM3.00 per hour and each packet of banana chips takes 0.25 hours to make. Manufacturing overheads are charged at RM0.80 per packet. The following stock levels are maintained:
Opening stock
Raw materials 100 kg Banana chips 80 packets
Closing stock
120 kg
70 packets
Required:
For the month ending 31 March 2018, prepare Direct Labor Budget
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- Siti runs a small factory in Kuala Pilah producing banana chips. She normally sells 10,000 packets at RM5.00 per packet. She is now planning for next month’s sales and the following information is given:Raw material required is 1000 kg of bananas at RM1.30 per kg. The labor rate is RM3.00 per hour and each packet of banana chips takes 0.25 hours to make. Manufacturing overheads are charged at RM0.80 per packet. The following stock levels are maintained:Opening stockRaw materials 100 kg Banana chips 80 packetsClosing stock120 kg70 packets Required: For the month ending 31 March 2018, prepare cost of sales budgetLila battle has determined that the annual demand for number 6 screws is 100,000 screws. Lila, who works in her brother’s hardware store, is in charge of purchasing. She estimates that it costs $10 every time an order is placed. This cost includes her wages, the cost of forms used in the placing order, and so on. Furthermore, she estimates that the cost of carrying one screw in theinventory for an year is one-half of one cent. Assume that the demand is constant throughout the year. (a)How many number 6 screws should Lila order at a time if she wishes to minimize total inventory cost? (b)How many orders per year would be placed? What would the annual ordering cost be? (c)What would the average inventory be? What would the annual holding cost be?Olga was planning to set up a business where she would purchase paintings for $1,050 per unit and sell them for $1,800 per unit. She wanted to conduct a break-even analysis and identified the following costs for running her business: $4,470.00 per month for store leasing, $54 per month website hosting fee, $5,150 per month for staff salary, $2,040 per month for advertising costs, and $25 per unit for labour charges to pack the paintings. a. How many paintings would she have to sell per month to break-even? Round up to the next whole number b. If she wants to make a profit of $24,000 in a month, how many paintings would she have to sell? Round up to the next whole number
