1 Part 1 of 4 3.75 points eBook Print References Problem 22-1A (Algo) Manufacturing: Preparing production,...

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1 Part 1 of 4 3.75 points eBook Print References Problem 22-1A (Algo) Manufacturing: Preparing production, materials, labor, and overhead budgets LO P1 [The following information applies to the questions displayed below.] Black Diamond Company produces snowboards. Each snowboard requires 1 pounds of carbon fiber. Management reports that 5,900 snowboards and 6,900 pounds of carbon fiber are in inventory at the beginning of the third quarter, and that 159,000 snowboards are budgeted to be sold during the third quarter. Management wants to end the third quarter with 4,400 snowboards and 4,900 pounds of carbon fiber in inventory. Carbon fiber costs $24 per pound. Each snowboard requires 0.6 hour of direct labor at $29 per hour. Variable overhead is budgeted at the rate of $17 per direct labor hour. The company budgets fixed overhead of $1,791,000 for the quarter. Problem 22-1A (Algo) Part 1 Required: 1. Prepare the production budget for the third quarter. Hint: Desired ending inventory units are given. BLACK DIAMOND COMPANY Production Budget (in units) Total required units Units to produce Third Quarter 3,800 2 Part 2 of 4 3.75 points eBook Print References Required information Problem 22-1A (Algo) Manufacturing: Preparing production, materials, labor, and overhead budgets LO P1 [The following information applies to the questions displayed below.] Black Diamond Company produces snowboards. Each snowboard requires 1 pounds of carbon fiber. Management reports that 5,900 snowboards and 6,900 pounds of carbon fiber are in inventory at the beginning of the third quarter, and that 159,000 snowboards are budgeted to be sold during the third quarter. Management wants to end the third quarter with 4,400 snowboards and 4,900 pounds of carbon fiber in inventory. Carbon fiber costs $24 per pound. Each snowboard requires 0.6 hour of direct labor at $29 per hour. Variable overhead is budgeted at the rate of $17 per direct labor hour. The company budgets fixed overhead of $1,791,000 for the quarter. Problem 22-1A (Algo) Part 2 2. Prepare the direct materials budget for the third quarter. Units to produce BLACK DIAMOND COMPANY Direct Materials Budget Materials needed for production (pounds) Total materials required (pounds) Third Quarter Problem 22-1A (Algo) Part 2 2. Prepare the direct materials budget for the third quarter. Units to produce BLACK DIAMOND COMPANY Direct Materials Budget Materials needed for production (pounds) Total materials required (pounds) Materials to purchase (pounds) Cost of direct materials purchases Third Quarter 3 Part 3 of 4 3.75 points eBook Print References Problem 22-1A (Algo) Manufacturing: Preparing production, materials, labor, and overhead budgets LO P1 [The following information applies to the questions displayed below.] Black Diamond Company produces snowboards. Each snowboard requires 1 pounds of carbon fiber. Management reports that 5,900 snowboards and 6,900 pounds of carbon fiber are in inventory at the beginning of the third quarter, and that 159,000 snowboards are budgeted to be sold during the third quarter. Management wants to end the third quarter with 4,400 snowboards and 4,900 pounds of carbon fiber in inventory. Carbon fiber costs $24 per pound. Each snowboard requires 0.6 hour of direct labor at $29 per hour. Variable overhead is budgeted at the rate of $17 per direct labor hour. The company budgets fixed overhead of $1,791,000 for the quarter. Problem 22-1A (Algo) Part 3 3. Prepare the direct labor budget for the third quarter. Units to produce Direct labor hours needed Cost of direct labor BLACK DIAMOND COMPANY Direct Labor Budget Third Quarter 4 Part 4 of 4 3.75 points eBook Print References Required information Problem 22-1A (Algo) Manufacturing: Preparing production, materials, labor, and overhead budgets LO P1 [The following information applies to the questions displayed below.] Black Diamond Company produces snowboards. Each snowboard requires 1 pounds of carbon fiber. Management reports that 5,900 snowboards and 6,900 pounds of carbon fiber are in inventory at the beginning of the third quarter, and that 159,000 snowboards are budgeted to be sold during the third quarter. Management wants to end the third quarter with 4,400 snowboards and 4,900 pounds of carbon fiber in inventory. Carbon fiber costs $24 per pound. Each snowboard requires 0.6 hour of direct labor at $29 per hour. Variable overhead is budgeted at the rate of $17 per direct labor hour. The company budgets fixed overhead of $1,791,000 for the quarter. Problem 22-1A (Algo) Part 4 4. Prepare the factory overhead budget for the third quarter. BLACK DIAMOND COMPANY Factory Overhead Budget Direct labor hours needed Budgeted variable overhead Budgeted total factory overhead Third Quarter 1 Part 1 of 4 3.75 points eBook Print References Problem 22-1A (Algo) Manufacturing: Preparing production, materials, labor, and overhead budgets LO P1 [The following information applies to the questions displayed below.] Black Diamond Company produces snowboards. Each snowboard requires 1 pounds of carbon fiber. Management reports that 5,900 snowboards and 6,900 pounds of carbon fiber are in inventory at the beginning of the third quarter, and that 159,000 snowboards are budgeted to be sold during the third quarter. Management wants to end the third quarter with 4,400 snowboards and 4,900 pounds of carbon fiber in inventory. Carbon fiber costs $24 per pound. Each snowboard requires 0.6 hour of direct labor at $29 per hour. Variable overhead is budgeted at the rate of $17 per direct labor hour. The company budgets fixed overhead of $1,791,000 for the quarter. Problem 22-1A (Algo) Part 1 Required: 1. Prepare the production budget for the third quarter. Hint: Desired ending inventory units are given. BLACK DIAMOND COMPANY Production Budget (in units) Total required units Units to produce Third Quarter 3,800 2 Part 2 of 4 3.75 points eBook Print References Required information Problem 22-1A (Algo) Manufacturing: Preparing production, materials, labor, and overhead budgets LO P1 [The following information applies to the questions displayed below.] Black Diamond Company produces snowboards. Each snowboard requires 1 pounds of carbon fiber. Management reports that 5,900 snowboards and 6,900 pounds of carbon fiber are in inventory at the beginning of the third quarter, and that 159,000 snowboards are budgeted to be sold during the third quarter. Management wants to end the third quarter with 4,400 snowboards and 4,900 pounds of carbon fiber in inventory. Carbon fiber costs $24 per pound. Each snowboard requires 0.6 hour of direct labor at $29 per hour. Variable overhead is budgeted at the rate of $17 per direct labor hour. The company budgets fixed overhead of $1,791,000 for the quarter. Problem 22-1A (Algo) Part 2 2. Prepare the direct materials budget for the third quarter. Units to produce BLACK DIAMOND COMPANY Direct Materials Budget Materials needed for production (pounds) Total materials required (pounds) Third Quarter Problem 22-1A (Algo) Part 2 2. Prepare the direct materials budget for the third quarter. Units to produce BLACK DIAMOND COMPANY Direct Materials Budget Materials needed for production (pounds) Total materials required (pounds) Materials to purchase (pounds) Cost of direct materials purchases Third Quarter 3 Part 3 of 4 3.75 points eBook Print References Problem 22-1A (Algo) Manufacturing: Preparing production, materials, labor, and overhead budgets LO P1 [The following information applies to the questions displayed below.] Black Diamond Company produces snowboards. Each snowboard requires 1 pounds of carbon fiber. Management reports that 5,900 snowboards and 6,900 pounds of carbon fiber are in inventory at the beginning of the third quarter, and that 159,000 snowboards are budgeted to be sold during the third quarter. Management wants to end the third quarter with 4,400 snowboards and 4,900 pounds of carbon fiber in inventory. Carbon fiber costs $24 per pound. Each snowboard requires 0.6 hour of direct labor at $29 per hour. Variable overhead is budgeted at the rate of $17 per direct labor hour. The company budgets fixed overhead of $1,791,000 for the quarter. Problem 22-1A (Algo) Part 3 3. Prepare the direct labor budget for the third quarter. Units to produce Direct labor hours needed Cost of direct labor BLACK DIAMOND COMPANY Direct Labor Budget Third Quarter 4 Part 4 of 4 3.75 points eBook Print References Required information Problem 22-1A (Algo) Manufacturing: Preparing production, materials, labor, and overhead budgets LO P1 [The following information applies to the questions displayed below.] Black Diamond Company produces snowboards. Each snowboard requires 1 pounds of carbon fiber. Management reports that 5,900 snowboards and 6,900 pounds of carbon fiber are in inventory at the beginning of the third quarter, and that 159,000 snowboards are budgeted to be sold during the third quarter. Management wants to end the third quarter with 4,400 snowboards and 4,900 pounds of carbon fiber in inventory. Carbon fiber costs $24 per pound. Each snowboard requires 0.6 hour of direct labor at $29 per hour. Variable overhead is budgeted at the rate of $17 per direct labor hour. The company budgets fixed overhead of $1,791,000 for the quarter. Problem 22-1A (Algo) Part 4 4. Prepare the factory overhead budget for the third quarter. BLACK DIAMOND COMPANY Factory Overhead Budget Direct labor hours needed Budgeted variable overhead Budgeted total factory overhead Third Quarter

Answer rating: 100% (QA)

Youve presented four separate parts of Problem 221A from a textbook related to manufacturing budgets Each part asks for the preparation of a different type of budget Lets tackle them step by step Part ... View the full answer