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Total Pop's data show the following information: Estimated sales in units Sales price per unit Direct labor per unit Labor rate per hour $45 $3 $18 New machinery will be added in April. This machine will reduce the labor required per unit and increase the labor rate for those employees qualified to operate the machinery. Finished goods inventory is required to be 20% of the next month's requirements. Direct material require pounds per unit at a cost of $3 per pound. The ending inventory required for direct materials is 15% of the next month's needs. In January, the beginning inventory is 2.900 units of finished goods and 4.380 pounds of material. Expected Sales Total Required Units Prepare a production budget for the first quarter of the year. Total Pop Production Budget Quarter Ending March 31, 20xx Required Production Jan. Feb. Mar. Apr. May 14,500 15.000 16.000 16,000 16.300 ▾ $45 $45 $45 $3 $2.25 $18 $20 $2 January February March Units to be Produced Direct Material per Unit Total Pounds needed for Production Prepare a direct materials budget for the first quarter of the year. Total Pop Direct Materials Budget Quarter Ending March 31, 20xx Total Material Required $20 Pounds of Direct Material Purchase Requirements Cost per Pound Total Cost of Direct Material Purchase $45 $2 $20 January February March

Total Pop's data show the following information: Estimated sales in units Sales price per unit Direct labor per unit Labor rate per hour $45 $3 $18 New machinery will be added in April. This machine will reduce the labor required per unit and increase the labor rate for those employees qualified to operate the machinery. Finished goods inventory is required to be 20% of the next month's requirements. Direct material require pounds per unit at a cost of $3 per pound. The ending inventory required for direct materials is 15% of the next month's needs. In January, the beginning inventory is 2.900 units of finished goods and 4.380 pounds of material. Expected Sales Total Required Units Prepare a production budget for the first quarter of the year. Total Pop Production Budget Quarter Ending March 31, 20xx Required Production Jan. Feb. Mar. Apr. May 14,500 15.000 16.000 16,000 16.300 ▾ $45 $45 $45 $3 $2.25 $18 $20 $2 January February March Units to be Produced Direct Material per Unit Total Pounds needed for Production Prepare a direct materials budget for the first quarter of the year. Total Pop Direct Materials Budget Quarter Ending March 31, 20xx Total Material Required $20 Pounds of Direct Material Purchase Requirements Cost per Pound Total Cost of Direct Material Purchase $45 $2 $20 January February March

Principles of Accounting Volume 2
Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter7: Budgeting
Section: Chapter Questions
Problem 14PA: Total Pops data show the following information: New machinery will be added in April. This machine...
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Total Pop's data show the following information: Jan. Feb. Mar. Apr. May 14,500 15,000 16,000 16,000 16,300 $45 $45 $45 $45 $45 $3 $2.25 $3 $2 $2 $18 $18 $20 $20 $20 New machinery will be added in April. This machine will reduce the labor required per unit and increase the labor rate for those employees qualified to operate the machinery. Finished goods inventory is required to be 20% of the next month's requirements. Direct material requires 2 pounds per unit at a cost of $3 per pound. The ending inventory required for direct materials is 15% of the next month's needs. In January, the beginning inventory is 2,900 units of finished goods and 4,380 pounds of material. Estimated sales in units Sales price per unit Direct labor per unit. Labor rate per hour Prepare a production budget for the first quarter of the year. Total Pop Production Budget Quarter Ending March 31, 20xx Expected Sales Total Required Units Required Production January February March Prepare a direct materials budget for the first quarter of the year. Total Pop Direct Materials Budget Quarter Ending March 31, 20XX Units to be Produced Direct Material per Unit Total Pounds needed for Production Total Material Required Pounds of Direct Material Purchase Requirements Cost per Pound Total Cost of Direct Material Purchase January February March $ $ $
Transcribed Image Text:Total Pop's data show the following information: Jan. Feb. Mar. Apr. May 14,500 15,000 16,000 16,000 16,300 $45 $45 $45 $45 $45 $3 $2.25 $3 $2 $2 $18 $18 $20 $20 $20 New machinery will be added in April. This machine will reduce the labor required per unit and increase the labor rate for those employees qualified to operate the machinery. Finished goods inventory is required to be 20% of the next month's requirements. Direct material requires 2 pounds per unit at a cost of $3 per pound. The ending inventory required for direct materials is 15% of the next month's needs. In January, the beginning inventory is 2,900 units of finished goods and 4,380 pounds of material. Estimated sales in units Sales price per unit Direct labor per unit. Labor rate per hour Prepare a production budget for the first quarter of the year. Total Pop Production Budget Quarter Ending March 31, 20xx Expected Sales Total Required Units Required Production January February March Prepare a direct materials budget for the first quarter of the year. Total Pop Direct Materials Budget Quarter Ending March 31, 20XX Units to be Produced Direct Material per Unit Total Pounds needed for Production Total Material Required Pounds of Direct Material Purchase Requirements Cost per Pound Total Cost of Direct Material Purchase January February March $ $ $
Prepare a direct labor budget for the first quarter of the year. Round your per unit answers to 2 decimal places. Total Pop Direct Labor Budget Quarter Ending March 31, 20xx January Units to be Produced Direct Labor Hours per Unit Total Required Direct Labor Hours Labor Cost per Hour Total Direct Labor Cost $ $ February March $1
Transcribed Image Text:Prepare a direct labor budget for the first quarter of the year. Round your per unit answers to 2 decimal places. Total Pop Direct Labor Budget Quarter Ending March 31, 20xx January Units to be Produced Direct Labor Hours per Unit Total Required Direct Labor Hours Labor Cost per Hour Total Direct Labor Cost $ $ February March $1
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