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Total Pop's data show the following information of January, February, March, April May 2022 (respectively): Jan. 15,000 $ 45 $ Estimated sales (units) Sales price per unit Direct labor per unit $ Labor rate per hour $ 18 S 3 S Feb. Mar. Apr. May 14,500 16,000 45 15,500 15,800 45 $ 45 25 2 3 $ 2.25 18 S 21 $ 21 $ 21 $ 45 $ $ Additional information Finished goods inventory is required to be 20% of the next month's requirements. The ending inventory required for direct materials is 15% of the next month's needs. Direct material requires 2 pounds per unit at a cost of $3 per pound. In January, the beginning inventory is 3,000 units of finished goods and 4,470 pounds of material. Required: repare the below budgets for the company: (a) a production budget for the first quarter of the year. b) direct materials budget for the first quarter of the year.

Total Pop's data show the following information of January, February, March, April May 2022 (respectively): Jan. 15,000 $ 45 $ Estimated sales (units) Sales price per unit Direct labor per unit $ Labor rate per hour $ 18 S 3 S Feb. Mar. Apr. May 14,500 16,000 45 15,500 15,800 45 $ 45 25 2 3 $ 2.25 18 S 21 $ 21 $ 21 $ 45 $ $ Additional information Finished goods inventory is required to be 20% of the next month's requirements. The ending inventory required for direct materials is 15% of the next month's needs. Direct material requires 2 pounds per unit at a cost of $3 per pound. In January, the beginning inventory is 3,000 units of finished goods and 4,470 pounds of material. Required: repare the below budgets for the company: (a) a production budget for the first quarter of the year. b) direct materials budget for the first quarter of the year.

SWFT Individual Income Taxes
SWFT Individual Income Taxes
43rd Edition
ISBN:9780357391365
Author:YOUNG
Publisher:YOUNG
Chapter18: Accounting Periods And Methods
Section: Chapter Questions
Problem 67P
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Answer ALL FOUR Questions Question 12 Total Pop's data show the following information of January, February, March, April, May 2022 (respectively): ♦ + Additional information Finished goods inventory is required to be 20% of the next month's . Jan. Feb. Mar. Apr. May Estimated sales (units) 15,000 14,500 16,000 15,500 15,800 Sales price per unit $ 45 $ 45 $ 45 S 45 $ 45 Direct labor per unit $ 3 $ 3 $2.25 S 2 $ Labor rate per hour $ 18 $ 18 S 21 $ 21 S 2 21 requirements. The ending inventory required for direct materials is 15% of the next month's needs. Direct material requires 2 pounds per unit at a cost of $3 per pound. In January, the beginning inventory is 3,000 units of finished goods and 4,470 pounds of material. Required: Prepare the below budgets for the company: (a) a production budget for the first quarter of the year. (b) direct materials budget for the first quarter of the year. X
Transcribed Image Text:Answer ALL FOUR Questions Question 12 Total Pop's data show the following information of January, February, March, April, May 2022 (respectively): ♦ + Additional information Finished goods inventory is required to be 20% of the next month's . Jan. Feb. Mar. Apr. May Estimated sales (units) 15,000 14,500 16,000 15,500 15,800 Sales price per unit $ 45 $ 45 $ 45 S 45 $ 45 Direct labor per unit $ 3 $ 3 $2.25 S 2 $ Labor rate per hour $ 18 $ 18 S 21 $ 21 S 2 21 requirements. The ending inventory required for direct materials is 15% of the next month's needs. Direct material requires 2 pounds per unit at a cost of $3 per pound. In January, the beginning inventory is 3,000 units of finished goods and 4,470 pounds of material. Required: Prepare the below budgets for the company: (a) a production budget for the first quarter of the year. (b) direct materials budget for the first quarter of the year. X
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