Answer for comprehensive problem 5

Question

5-9

13th edition Warren reeve

Financial and managerial accounting

Estimated finished goods inventory, Desired finished goods inventory. August 31. Materials Inventory: August 1,2016 Cost 300 $12,000 175 7,000 Estimated materials inventory, August 1,2016 Desired materials inventory, August 31,2016 Cream Base ozs.) 250 1,000 Oils ozs Bottles bottles) 600 240 There was negligible work of the month; thus, none unit or estimated units per case operating data from January Instructions 5. Prepare the August production budget. 290 360 in process inventory assumed for either the beginning or end Was assumed. In addition, there was no change in the cost per 6. Prepare the August direct materials purchases budget. Prepare the August direct labor budget. Round the hours required for production to the nearest hour. 7. 8. Prepare the August factory overhead budget. 9. Prepare the August budgeted income statement, including selling expenses. Part C-August Variance Analysis During September of the current year, the controller was asked to perform varia analyses for A g data provided the standard prices, r produced during Au ugust. The January operatin tities per case. There were 1,500 actual cases lanned at the beginning of the month. Actual da Estimated finished goods inventory, Desired finished goods inventory. August 31. Materials Inventory: August 1,2016 Cost 300 $12,000 175 7,000 Estimated materials inventory, August 1,2016 Desired materials inventory, August 31,2016 Cream Base ozs.) 250 1,000 Oils ozs Bottles bottles) 600 240 There was negligible work of the month; thus, none unit or estimated units per case operating data from January Instructions 5. Prepare the August production budget. 290 360 in process inventory assumed for either the beginning or end Was assumed. In addition, there was no change in the cost per 6. Prepare the August direct materials purchases budget. Prepare the August direct labor budget. Round the hours required for production to the nearest hour. 7. 8. Prepare the August factory overhead budget. 9. Prepare the August budgeted income statement, including selling expenses. Part C-August Variance Analysis During September of the current year, the controller was asked to perform varia analyses for A g data provided the standard prices, r produced during Au ugust. The January operatin tities per case. There were 1,500 actual cases lanned at the beginning of the month. Actual da