ACC220 / HCT Ch. 8 HW Prepare: One Period Do not have to do Cash portion of Budget [a] Sales budget [b] Ending FG Budget // Production Qty. [c] Direct Material budget [d] Direct Labor budget le] Manufacturing Overhead Budget [f] COGS Chart Selling Expense and Administrative Expense Budget [h] Statement of Income through Operating Income ( No interest Do in order above No Balance sheet Il No ending Cash Show work Use Class Examples Ig] Data Set Budget Period Next Perio Unit Sales 22000 24000 Sales Price per unit 28 Ending FG inventory = 1/4 next period Sales units Beginning Material inventory 0.00 compute ending FG Qty./Inventory Beginning FG inventory 0.00 Ending Material inventory = -0- Fixed Manufacturing overhead per period 60,000 Variable manufacturing overhead per unit 12 applied on direct labor hours Variable Selling and Administrative Expense 8 applied per unit sold Fixed Selling and Administrative Expense 14,000 Direct Labor rate per hr. - 11 Hr. of direct labor per unit 0.1 Hr. for production = the Direct labor hrs. paid; -O- extra hours paid lbs. of Material used per unit 0.3 cost per Lb. of material