ACC 440 Chapter 6 Practice Problem- Master Budget Monster Factory Inc. makes plushies of odd creatures which they sell to is made with fabric, foam pieces, and a type of stuffing, either beads or cotton. Two of their most popular products are their "Banana Man" and "Car Boy" plushies. Monster Factory Inc. are currently preparing their budget for the next year. Using the following information, please construct Schedules 1 and 2 of the Master Budget for Monster Factory Inc. for the next year. novelty gift shops. Each plushie Master Budget Information: Budgeted Sales of "Banana Man" Budgeted Sales of "Car Boy: 55,400 units at $7 each 40,800 units at $8 each Direct Materials needed for each "Banana Man": 2 feet of Yellow fabric, 5 inches of black foam, and 22 grams of cotton stuffing. Direct Materials needed for each "Car Boy 1.5 feet of Blue fabric, 7 inches of gray foam, and 16 grams of bead stuffing. Direct Labor needed for each "Banana Man": Direct Labor needed for each "Car Boy": Budgeted Cost of Yellow Fabric: Budgeted Cost of Blue Fabric: Budgeted Cost of Black Foam: Budgeted Cost of Gray Foam: Budgeted Cost of Cotton Stuffing: 12 minutes (.2 hours) 6 minutes (.1 hours) $90 per foot $1.10 per foot $ .08 per inch $ .11 per inch $.06 per gram .15 per gram Budgeted Cost of Bead Stuffing: Budgeted Cost of Direct Labor: Budgeted Variable Manufacturing Overhead Budgeted Fixed Manufacturing Overhead: Beginning Inventory of Yellow Fabric: Beginning Inventory of Blue Fabric: Beginning Inventory of Black Foam: Beginning Inventory of Gray Foam: Beginning Inventory of Cotton Stuffing: Beginning Inventory of Bead Stuffing: Beginning Inventory of "Banana Man": Beginning Inventory of "Car Boy Target Ending Inventory of Yellow Fabric: Target Ending Inventory of Blue Fabric $9.00 per hour $.75 per DMLH $18,858.25 4,900 feet ($.85 per foot) 3,750 feet ($1.15 per foot) 10,400 inches ($.09 per inch) 11,000 inches (.11 per inch) 45,545 grams (.06 per gram) 30,330 grams (.14 per gram) 2,200 units ($13,530 in total) 934 units ($5,511 in totall 5,000 feet 4,500 feet 11,000 inches 10,000 inches 40,000 grams 30,000 grams 1,700 units 1,200 units Target Ending Inventory of Black Foam: Target Ending Inventory of Gray Foam: Target Ending Inventory of Cotton Stuffing: Target Ending Inventory of Bead Stuffing: Target Ending Inventory of "Banana Man": Target Ending Inventory of "Car Boy ACC 440 Chapter 6 Practice Problem- Master Budget Monster Factory Inc. makes plushies of odd creatures which they sell to is made with fabric, foam pieces, and a type of stuffing, either beads or cotton. Two of their most popular products are their "Banana Man" and "Car Boy" plushies. Monster Factory Inc. are currently preparing their budget for the next year. Using the following information, please construct Schedules 1 and 2 of the Master Budget for Monster Factory Inc. for the next year. novelty gift shops. Each plushie Master Budget Information: Budgeted Sales of "Banana Man" Budgeted Sales of "Car Boy: 55,400 units at $7 each 40,800 units at $8 each Direct Materials needed for each "Banana Man": 2 feet of Yellow fabric, 5 inches of black foam, and 22 grams of cotton stuffing. Direct Materials needed for each "Car Boy 1.5 feet of Blue fabric, 7 inches of gray foam, and 16 grams of bead stuffing. Direct Labor needed for each "Banana Man": Direct Labor needed for each "Car Boy": Budgeted Cost of Yellow Fabric: Budgeted Cost of Blue Fabric: Budgeted Cost of Black Foam: Budgeted Cost of Gray Foam: Budgeted Cost of Cotton Stuffing: 12 minutes (.2 hours) 6 minutes (.1 hours) $90 per foot $1.10 per foot $ .08 per inch $ .11 per inch $.06 per gram .15 per gram Budgeted Cost of Bead Stuffing: Budgeted Cost of Direct Labor: Budgeted Variable Manufacturing Overhead Budgeted Fixed Manufacturing Overhead: Beginning Inventory of Yellow Fabric: Beginning Inventory of Blue Fabric: Beginning Inventory of Black Foam: Beginning Inventory of Gray Foam: Beginning Inventory of Cotton Stuffing: Beginning Inventory of Bead Stuffing: Beginning Inventory of "Banana Man": Beginning Inventory of "Car Boy Target Ending Inventory of Yellow Fabric: Target Ending Inventory of Blue Fabric $9.00 per hour $.75 per DMLH $18,858.25 4,900 feet ($.85 per foot) 3,750 feet ($1.15 per foot) 10,400 inches ($.09 per inch) 11,000 inches (.11 per inch) 45,545 grams (.06 per gram) 30,330 grams (.14 per gram) 2,200 units ($13,530 in total) 934 units ($5,511 in totall 5,000 feet 4,500 feet 11,000 inches 10,000 inches 40,000 grams 30,000 grams 1,700 units 1,200 units Target Ending Inventory of Black Foam: Target Ending Inventory of Gray Foam: Target Ending Inventory of Cotton Stuffing: Target Ending Inventory of Bead Stuffing: Target Ending Inventory of "Banana Man": Target Ending Inventory of "Car Boy