Preparing a Direct Labor Budget Patrick Inc. makes industrial solvents. Planned production in units for the first three months of the coming year is: January 40,000 February 55,000 March 60,000 Each drum of industrial solvent takes 0.3 direct labor hours. The average wage is $18.40 per hour. Required: Prepare a direct labor budget for the months of January, February, and March, as well as the total for the first quarter. Do not include a multiplication symbol as part of your answer. Patrick Inc.

Q: ABC Company’s budgeted sales for June, July, and August are 12,600, 16,600, and 14,600 units,…

A: Desired ending inventory = 25% of the next month’s budgeted unit sales Desired ending inventory…

Q: XYZ Company is preparing its production budget for the next year. Budgeted sales in dollars for…

A: Production budget: Production budget is the estimation or projection of number of units the company…

Q: How much is budgeted production for November?

A: Given information is: Budgeted sales (in units) for the Rockwall Energy Drink Company are as…

Q: Steelcase Inc. is one of the largest manufacturers of office furniture in the United States. In…

A: Total department costs = Total variable cost + Total fixed cost where, Total fixed cost = Supervisor…

Q: Preparing an Overhead Budget Patrick Inc. makes industrial solvents. Budgeted direct labor hours…

A: Overhead Budget is prepared to forecast and present all the expected costs concerning the…

Q: re Bates & Hill's production budget for the first quarter.     Joshua Hill, Bates & Hill…

A: Requirements asked   Production Budget             January February March Quarter…

Q: Assume a company’s sales budget for April and May is 48,000 units and 50,000 units, respectively.…

A: Cash paid in april = account payable + april purchases * 50% = 148000…

Q: Required information Ramos Co. provides the following sales forecast and production budget for the…

A: The Direct materials purchase budget becomes the base for the purpose of determining the materials…

Q: The sales budget of a company for November and December is 46,000 units and 48,000 units,…

A: Solution: Budgeted purchase quantity  of raw materials for November = Budgeted requirement to meet…

Q: 2. Rollers Inc. uses a continuous budget. The month of March is about to end, so the company is now…

A: Budget is prepared in order to plan and estimate the cost, revenue, and profit in the coming period.…

Q: Preparing a financial budget Cramer Company projects the following sales for the first three months…

A: A cash receipts schedule shows the pattern in which a business expects to collect cash from its…

Q: The sales budget is provided below for the product of Company ABC.   Jan 30,000 units Feb…

A: Production budget: Production budget is the estimation or projection of number of units the company…

Q: Zira Co. reports the following production budget for the next four months. July 547 April Мay June…

A: Desired ending inventory for June = Production for July x Raw material per unit x 20% = 547*5*20% =…

Q: 2. Rollers Inc. uses a continuous budget. The month of March is about to end, so the company is now…

A: In the given case, the estimation of April can be made by using high-low method. High-low method…

Q: Preparing an operating budget——production budget. Bailey Company expects to sell 1,500 units of…

A: Desired ending inventory  for January = 1750*80% = 1400 units  Desired ending inventory for February…

Q: The following are budgeted data: January February March Sales in units 15,600 21,200 18,600…

A: Formula: Purchase of raw materials = Total produced units + Ending inventory - Beginning Inventory

Q: 2. Rollers Inc. uses a continuous budget. The month of March is about to end, so the company is now…

A: Calculation of Variable Cost of factory supplies per unit using High low method as follows: Variable…

Q: 2. Rollers Inc. uses a continuous budget. The month of March is about to end, so the company is now…

A: Production units for January = 90,000 Factory supplies for January = 144,612 Production units for…

Q: Lily Company’s sales budget projects unit sales of part 198Z of 8,400 units in January, 10,000 units…

A: Production budget shows the number of units to be produced in a given period.  Direct material…

Q: Palmgren Company produces consumer products. The sales budget for four months of the year is…

A: The production budget, which is established by a mix of the sales forecast and the anticipated…

Q: Operating Budget. Comprehensive Analysis Ponderosa, Inc., produces wiring harness assemblies used in…

A: Production budget: Production budget is a type of budget that enable the entity to determine the…

Q: Nevis' production data for a new deluxe product were taken from the most recent quarterly production…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: 7. Rollers, Inc. uses a continuous or rolling budget. The month of March is about to end, so the…

A: The budgeted supplies depend on the production of units, higher production mean higher supplies and…

Q: The following are budgeted data: January February March 15,000 Sales in units. Production in units.…

A: Solution :    Total No. of Pound Required in month of Feb :          Production in February * One…

Q: ABC Company’s budgeted sales for June, July, and August are 15,800, 19,800, and 17,500 units,…

A: The production budget determines the quantity of the product that must be produced and is generated…

Q: 7. Rollers, Inc. uses a continuous or rolling budget. The month of March is about to end, so the…

A: Production units in January = 90,000 Factory supplies in January = 144,612 Production units in…

Q: 7. Rollers, Inc. uses a continuous or rolling budget. The month of March is about to end, so the…

A: The business entity forecasts its cost for the coming period in order to analyze the cost and try…

Q: Patrick Inc. makes industrial solvents. Planned production in units for the first three months of…

A: Total direct labor hrs = Units to be produced x Direct labor hrs per unit Direct labor cost = Total…

Q: Scora, Inc., is preparing its master budget for the quarter ending March 31. It sells a single…

A: Sales budget = No. of units to be sold x Sales price per unit

Q: 7. Rollers, Inc. uses a continuous or rolling budget. The month of March is about to end, so the…

A: Solution:- Calculation of the budgeted factory supplies for 94,000 units in April as follows:-

Q: Swingers Company makes and sells widgets. The company is in the process of preparing its Selling and…

A: Selling expenses are included variable and fixed expenses incurred for selling goods. Administration…

Q: XYZ Company is preparing its production budget for the next year. Budgeted sales in dollars for…

A: Particulars January February March Budgeted sales $210000 $270000 $150000 Sales…

Q: White Corporation’s budget calls for the following sales for next year:           Quarter 1 98,000…

A: A budget is an financial estimate of revenue and expense over a specified time period in future…

Q: Preparing an operating budget——production budget.</b></p><p>Bailey The company…

A: Given information is: The company expects to sell 1,500 units of the finished product in January and…

Q: Ratchet Manufacturing's August sales budget calls for sales of 5,000 units. Each month's sales are…

A: Sales budget refers to the budget prepared for estimating the number of sales units and sales amount…

Q: Preparing a financial budget——-schedule of cash receipts Victors expects total sales of $702,000 for…

A: December sales on account: Collected in january (407000*30%) = $122,100 Collected in february…

Q: The sales budget of a company for November and December is 46,000 units and 48,000 units,…

A: solution: Budgeted quantity of purchases of raw materials in November  = Budgeted requirement of…

Q: 2. Rollers Inc. uses a continuous budget. The month of March is about to end, so the company is now…

A: Budgeted costs are those costs which are estimated to be allocated to the expenses in the…

Q: ABC Company’s budgeted sales for June, July, and August are 15,800, 19,800, and 17,500 units,…

A: A budget is a plan which shows the estimation of revenue and expenses for a specified period of…

Q: ales budget is given below for one of the products manufactured by the Key Company, Inc.…

A: a. Production budget   January February March April Sales unit 21000 36000 61000 41000 Add:…

Q: ABC Company’s budgeted sales for June, July, and August are 15,400, 19,400, and 17,400 units,…

A: Budgeting is an important part of the business process. Without budgeting a business cannot track…

Q: COVID19Co produces hand tools. A sales budget for the next four months is as follows March10.700…

A: Formulas: budgeted ending finished goods inventory for March = April * Rate

Q: 1. Prepare the following monthly budgets for Greiner Company for the first quarter of the coming…

A: Budgets are the forecasts or estimates to be made for future period of time. Production budget,…

Q: Assume a company’s sales budget for April and May is 41,000 units and 43,000 units, respectively.…

A: Step 1 Calculate the average accounts payable for the period by adding the accounts payable balance…

Q: Flexible Budget for Fabrication Department Steelcase Inc. is one of the largest manufacturers of…

A: Given: Direct labor per filing cabinet= 30 minutes Supervisor salaries= $180,000 per month…

Q: Ratchet Manufacturing's August sales budget calls for sales of 5,000 units. Each month's sales are…

A: Hey, since there are multiple questions posted, we will answer first question. Thank you.

Master Budget

A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making. 

Sales Budget and Selling

A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.