Yoder budgets $ 65 per luggage set for direct materials. Indirect materials are insignificant and not considered for budgeting purposes. The balance in the Raw Materials Inventory account (all direct materials) on January 1 is $ 45,000. Yoder desires the ending balance in Raw Materials Inventory to be 40% of the next month’s direct materials needed for production. Desired ending balance for February is $ 46,800. Use this information and the production budget prepared in S22- 4 to prepare Yoder’s direct materials budget for January and February.
Answer to relevant QuestionsYoder budgets two direct labor hours per luggage set. Direct labor costs average $ 15 per hour. Use this information and the production budget prepared in Short Exercise S22- 4 to prepare Yoder’s direct labor budget for ...Yoder has $ 12,500 in cash on hand on January 1. Refer to Short Exercises S22- 3, S22- 9, and S22- 10 for sales, cash receipts, and cash payment information. Assume direct labor costs and manufacturing costs are paid in the ...Refer to the Grippers inventory, purchases, and cost of goods sold budget you pre-pared in Short Exercise S22A- 16. December sales, given in Short Exercise S22A- 17, were $ 425,000. Assume Grippers pays for inventory ...Refer to the budgets prepared in Exercise E22- 25. Determine the cost per kit to manufacture the model airplane kits. Grady projects sales of 325, 400, 475, and 525 kits per quarter. Prepare a cost of goods sold budget for ...You recently began a job as an accounting intern at Reilly Golf Park. Your first task was to help prepare the cash budget for April and May. Unfortunately, the computer with the budget file crashed, and you did not have a ...
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