During July of the current year, the management of Royal Essentials, Inc., asked the controller to prepare
Question:
During July of the current year, the management of Royal Essentials, Inc., asked the controller to prepare August manufacturing and income statement budgets. Demand was expected to be 1,200 cases at $80 per case for August. Inventory planning information is provided as follows:
There was negligible work in process inventory assumed for either the beginning or end of the month; thus, none was assumed. In addition, there was no change in the cost per unit or estimated units per case operating data from January.
Prepare the August direct labor cost budget. For hours required, enter the amount to two decimal places. For example 65 and one-half hours would be entered as 65.50. For hourly rate, enter the amount as dollars andcents.
Step by Step Answer:
Financial and Managerial Accounting Using Excel for Success
ISBN: 978-1111993979
1st edition
Authors: James Reeve, Carl S. Warren, Jonathan Duchac