Sion A private company has been granted a license to produce vaccines by the government. The...
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Sion A private company has been granted a license to produce vaccines by the government. The Management Accountant has been working on the budgets using the figures below. Sales Forecast September 12,000 August October November 10,000 20,000 15,000 Selling Price 20 Production Volume Forecast August September October November 15,200 16,800 17,000 3,000 Materials Each vaccine requires 25ml of material, which costs £150 per litre (1,000 ml) Opening inventories of material at the start ofAugustare 100 litres The company has a policy of making sure there is sufficient closing inventory to meet production requirement for the following month. Production in November is expected to be 3000 units Labour Number of employees in production department is equal to 10 Standard working day is 8 hours Working days in the week is equal to 5 days Working days in the month is equal to 22 days Basic rate of pay 18 per hour Overtime is paid at time and a half Each vaccine takes 40 minutes (labour hours) to produce. Required Complete the working for the material purchases budget below Complete the working for the labour budget below Material Purchases Budget Enter your values to the nearest whole number with no £ sign August September October ТOTAL Total Volume (in litres) Total Cost Labour Cost Budget Enter your values to the nearest whole number with no E sign August September October Basic hours Overtime Total Pay (Basic and Overtime) August September October Basic Pay Overtime Pay Sion A private company has been granted a license to produce vaccines by the government. The Management Accountant has been working on the budgets using the figures below. Sales Forecast September 12,000 August October November 10,000 20,000 15,000 Selling Price 20 Production Volume Forecast August September October November 15,200 16,800 17,000 3,000 Materials Each vaccine requires 25ml of material, which costs £150 per litre (1,000 ml) Opening inventories of material at the start ofAugustare 100 litres The company has a policy of making sure there is sufficient closing inventory to meet production requirement for the following month. Production in November is expected to be 3000 units Labour Number of employees in production department is equal to 10 Standard working day is 8 hours Working days in the week is equal to 5 days Working days in the month is equal to 22 days Basic rate of pay 18 per hour Overtime is paid at time and a half Each vaccine takes 40 minutes (labour hours) to produce. Required Complete the working for the material purchases budget below Complete the working for the labour budget below Material Purchases Budget Enter your values to the nearest whole number with no £ sign August September October ТOTAL Total Volume (in litres) Total Cost Labour Cost Budget Enter your values to the nearest whole number with no E sign August September October Basic hours Overtime Total Pay (Basic and Overtime) August September October Basic Pay Overtime Pay
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Related Book For
Intermediate Accounting
ISBN: 978-0071339476
Volume 1, 6th Edition
Authors: Beechy Thomas, Conrod Joan, Farrell Elizabeth, McLeod-Dick I
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