Question: Hi could you please help in this quistion Bright Light Corporation manufactures and sells two types of decorative lamps, Knox and Ayer. It expects to




Hi could you please help in this quistion
Bright Light Corporation manufactures and sells two types of decorative lamps, Knox and Ayer. It expects to manufacture 23,000 Knox lamps and 8,000 Ayer lamps in 2021. The following data are available for the year 2021. E: (Click the icon to view the data.) (Click the icon to view the December 31, 2021, production budget in units.) Calculate (a) the direct materials usage budget in quantity and dollars (label it Schedule 3A); (b) the direct materials purchase budget in quantity and dollars (label it Schedule 3B); and (c) the direct manufacturing labour cost budget (label it Schedule 4) for the year ending December 31, 2021. . Metal Fabric Total Physical Units Budget Direct materials required for Knox lamps Direct materials required for Ayer lamps 23000 kg 23000 metres 16000 16000 metres kg 39000 kg 39000 metres Total quantity of direct materials to be used Cost Budget Available from beginning direct materials inventory (under a FIFO cost-flow assumption) Metal 8000 Fabric 13000 Fabric 13000 To be purchased and used this period Metal Fabric III Direct materials to be used this period (b) Calculate the direct materials purchase budget in quantity and dollars (label it Schedule 3B) for the year ending December 31, 2021 Schedule 3B: Direct Material Purchases Budget for the Year Ending December 31, 2021 Materials Metal Fabric Total kg metres Physical Units Budget To be used in production Add target ending inventory Total requirements Deduct beginning inventory kg metres kg metres kg metres kg metres Purchases to be made Cost Budget Metal Fabric Direct materials to be purchased this period (c) Calculate the direct manufacturing labour costs budget (label it Schedule 4) for the year ending December 31, 2021. (Abbreviation used: DMLH = Direct manufacturing labour-hours. Enter the DMLH per unit to two decimal places.) Schedule 4: Direct Manufacturing Labour Costs Budget for the Year Ending December 31, 2021 Output units DMLH Hourly wage produced per unit Total hours rate Total Knox Ayer Total - X - X Data Production budget in units Schedule 2: Production Budget (in Units) 2) for the Year Ending December 31, 2021 Knox Direct materials Metal $ 4 per kilogram (same as in 2020) Fabric 5 per metre (same as in 2020) Direct manufacturing labour 5 18 per hour S Ayer Budgeted units sales Add target ending finished goods inventory 23.900 2.200 8.000 1.200 Content of Each Product Unit Product Total required units 26.100 9.200 Knox 3.100 Ayer 1.200 Deduct beginning finished goods inventory Metal 1 kilogram 2 kilograms 23.000 8.000 Units of finished goods to be produced Fabric 1 metre 2 metres Direct manufacturing labour 0.1 hour 0.3 hour Direct Materials Print Done Metal Fabric 8.500 metres Beginning inventory Target ending inventory 10.000 kilograms 8.000 kilograms 6.500 metres serial limite Dudent ( Print Done
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
