production, direct labor, direct materials, sales budgets, budgeted contribution margin

Project Description:

greiner company makes and sells high-quality glare filters for microcomputer monitors. john crave, controller, is responsible for preparing greiner’s master budget and has assembled the following data for 2013.the direct labor rate includes wages and all employee-related benefits, and the employer’s share of fica. labor saving machinery will be fully operational by march. also, as of march 1, the company’s union contract calls for an increase in direct labor wages that is included in the direct labor rate. greiner expects to have 5,600 glare filters in inventory at december 31, 2012, and has a policy of carrying 35 percent of the following month’s projected sales in inventory.

january february march april
estimated unit sales 36,000 34,500 39,000 38,600
sales price per unit $80 $80 $75 $75
direct labor hours per unit 3.0 3.0 2.5 2.5
direct labor hourly rate $18 $18 $20 $20
direct materials cost per unit $9 $9 $9 $9

1. prepare the following monthly budgets for greiner company for the first quarter of 2013.
be sure to show supporting calculations.
a. production budget in units
b. direct labor budget in hours
c. direct materials cost budget
d. sales budget

2. calculate the total budgeted contribution margin for greiner company by month and in total for the first quarter of 2013. be sure to show supporting calculations. (cma adapted)
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