i Direct-Cost Inputs Unit cost data for direct-cost inputs pertaining to February 2017 and March 2017...

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i Direct-Cost Inputs Unit cost data for direct-cost inputs pertaining to February 2017 and March 2017 are as follows: February 2017 (actual) Red wool fabric (per yard) Black wool fabric (per yard) Broncos logo patches (per patch) Rams logo patches (per patch) Manufacturing labor cost per hour - $ 10 14 8 March 2017 (budgeted) $ 11 13 8 7 6 27 28 Print Done Direct Materials Unit data pertaining to the direct materials for March 2017 are as follows: Actual Beginning Direct Materials Inventory (3/1/2017) Broncos Blanket Red wool fabric Black wool fabric Broncos logo patches Rams logo patches 40 yards 0 50 0 Rams Blanket 0 yards 20 0 65 Target Ending Direct Materials Inventory (3/31/2017) Rams Blanket Broncos Blanket Red wool fabric 30 yards Black wool fabric 0 Broncos logo patches 30 Rams logo patches 0 0 yards 20 0 30 30 2/19/21, 1:00 PM iFinished Goods Inventory Data relating to finished goods inventory for March 2017 are as follows: Broncos Blanket Rams Blanket Beginning inventory in units 14 19 Beginning inventory in dollars (cost) $ 1,960 $ 2,945 Target ending inventory in units 24 29 Print Done - Budgeted Direct-Cost Inputs - The budgeted direct-cost inputs for each product in 2017 are as follows: Red wool fabric Black wool fabric Broncos logo patches Rams logo patches Direct manufacturing labor Rams Blanket 0 yards Broncos Blanket 5 yards 0 6 1 0 0 1 4 hours 5 hours Print Done i Additional Blanket Information - The company sews the blankets from fabric and sews on a logo patch purchased from the licensed logo store site. The teams are as follows: Broncos, with red blankets and the Broncos logo Rams, with black blankets and the Rams logo Also, the black blankets are slightly larger than the red blankets. Print Done i Requirements - 1. a. Prepare the following budgets for March 2017: Revenues budget b. Production budget in units C. d. e. f. Ending inventories budget (direct materials and finished goods) g. Direct material usage budget and direct material purchases budget Direct manufacturing labor costs budget Manufacturing overhead costs budget Cost of goods sold budget 2. Suppose Hale Specialties decides to incorporate continuous improvement into its budgeting process. Describe two areas where it could incorporate continuous improvement into the budget schedules in requirement 1. Print Done i Manufacturing Overhead Information - The budgeted variable manufacturing overhead rate for March 2017 is $17 per direct manufacturing labor-hour. The budgeted fixed manufacturing overhead for March 2017 is $14,625. Both variable and fixed manufacturing overhead costs are allocated to each unit of finished goods. Print Done i Sales and Other Information - Budgeted sales for March 2017 are 140 units of the Broncos blankets and 195 units of the Rams blankets. The budgeted selling prices per unit in March 2017 are $305 for the Broncos blankets and $378 for the Rams blankets. Assume the following in your answer: Work-in-process inventories are negligible and ignored. Direct materials inventory and finished goods inventory are costed using the FIFO method. Unit costs of direct materials purchased and finished goods are constant in March 2017. Print Done i Budgeted Direct-Cost Inputs The budgeted direct-cost inputs for each product in 2017 are as follows: Red wool fabric Black wool fabric Broncos Blanket 5 yards 0 Rams Blanket 0 yards 6 Print Done i Direct-Cost Inputs Unit cost data for direct-cost inputs pertaining to February 2017 and March 2017 are as follows: February 2017 (actual) Red wool fabric (per yard) Black wool fabric (per yard) Broncos logo patches (per patch) Rams logo patches (per patch) Manufacturing labor cost per hour - $ 10 14 8 March 2017 (budgeted) $ 11 13 8 7 6 27 28 Print Done Direct Materials Unit data pertaining to the direct materials for March 2017 are as follows: Actual Beginning Direct Materials Inventory (3/1/2017) Broncos Blanket Red wool fabric Black wool fabric Broncos logo patches Rams logo patches 40 yards 0 50 0 Rams Blanket 0 yards 20 0 65 Target Ending Direct Materials Inventory (3/31/2017) Rams Blanket Broncos Blanket Red wool fabric 30 yards Black wool fabric 0 Broncos logo patches 30 Rams logo patches 0 0 yards 20 0 30 30 2/19/21, 1:00 PM iFinished Goods Inventory Data relating to finished goods inventory for March 2017 are as follows: Broncos Blanket Rams Blanket Beginning inventory in units 14 19 Beginning inventory in dollars (cost) $ 1,960 $ 2,945 Target ending inventory in units 24 29 Print Done - Budgeted Direct-Cost Inputs - The budgeted direct-cost inputs for each product in 2017 are as follows: Red wool fabric Black wool fabric Broncos logo patches Rams logo patches Direct manufacturing labor Rams Blanket 0 yards Broncos Blanket 5 yards 0 6 1 0 0 1 4 hours 5 hours Print Done i Additional Blanket Information - The company sews the blankets from fabric and sews on a logo patch purchased from the licensed logo store site. The teams are as follows: Broncos, with red blankets and the Broncos logo Rams, with black blankets and the Rams logo Also, the black blankets are slightly larger than the red blankets. Print Done i Requirements - 1. a. Prepare the following budgets for March 2017: Revenues budget b. Production budget in units C. d. e. f. Ending inventories budget (direct materials and finished goods) g. Direct material usage budget and direct material purchases budget Direct manufacturing labor costs budget Manufacturing overhead costs budget Cost of goods sold budget 2. Suppose Hale Specialties decides to incorporate continuous improvement into its budgeting process. Describe two areas where it could incorporate continuous improvement into the budget schedules in requirement 1. Print Done i Manufacturing Overhead Information - The budgeted variable manufacturing overhead rate for March 2017 is $17 per direct manufacturing labor-hour. The budgeted fixed manufacturing overhead for March 2017 is $14,625. Both variable and fixed manufacturing overhead costs are allocated to each unit of finished goods. Print Done i Sales and Other Information - Budgeted sales for March 2017 are 140 units of the Broncos blankets and 195 units of the Rams blankets. The budgeted selling prices per unit in March 2017 are $305 for the Broncos blankets and $378 for the Rams blankets. Assume the following in your answer: Work-in-process inventories are negligible and ignored. Direct materials inventory and finished goods inventory are costed using the FIFO method. Unit costs of direct materials purchased and finished goods are constant in March 2017. Print Done i Budgeted Direct-Cost Inputs The budgeted direct-cost inputs for each product in 2017 are as follows: Red wool fabric Black wool fabric Broncos Blanket 5 yards 0 Rams Blanket 0 yards 6 Print Done