In$-$class Budgeting Assignment$-$PRODUCTION AND DM BUDGETS

Instructions: Use Excel to prepare your budgets. Please submit your $1$ file on DC Connect in the assignment section by the end of today$$s class $(3$:$45$pm$)$ to be marked. This is an open book, individual assignment so please do not share your answers with fellow class mates. Show any calculations in the budgets.

Assignment Question

Indiana Culvert Co$.$ has budgeted sales of $200,000$ ft$.$ of its concrete culvert products for the month of May $2024.$ Each foot of culvert product requires $2$ materials. $12$ pounds of concrete $($$$\mathrm{.}10$ per pound$)$ and $15$ pounds of gravel $($$$\mathrm{.}03$ per pound$)$ is required to make one foot of culvert. Actual beginning inventories and projected ending inventories are: May $1$ May $31$

Finished Goods Culvert Inventory $($in feet$)25,00010,500$

Concrete Material $82,00068,600$

Gravel Material $65,30092,500$

A$)$ Prepare a production budget, in good form, for May $2024$ showing how many feet of concrete culvert product should be produced.

B$)$ Prepare a direct materials budget, in good form, for gravel material only, to show how many pounds of gravel Indiana Culvert should purchase in May $2024$ and what the cost will be$.$In$-$class Budgeting Assignment$-$PRODUCTION AND DM BUDGETS

Instructions: Use Excel to prepare your budgets. Please submit your $1$ file on DC Connect in the assignment section by the end of today$$s class $(3$:$45$pm$)$ to be marked. This is an open book, individual assignment so please do not share your answers with fellow class mates. Show any calculations in the budgets.

Assignment Question

Indiana Culvert Co$.$ has budgeted sales of $200,000$ ft$.$ of its concrete culvert products for the month of May $2024.$ Each foot of culvert product requires $2$ materials. $12$ pounds of concrete $($$$\mathrm{.}10$ per pound$)$ and $15$ pounds of gravel $($$$\mathrm{.}03$ per pound$)$ is required to make one foot of culvert. Actual beginning inventories and projected ending inventories are: May $1$ May $31$

Finished Goods Culvert Inventory $($in feet$)25,00010,500$

Concrete Material $82,00068,600$

Gravel Material $65,30092,500$

A$)$ Prepare a production budget, in good form, for May $2024$ showing how many feet of concrete culvert product should be produced.

B$)$ Prepare a direct materials budget, in good form, for gravel material only, to show how many pounds of gravel Indiana Culvert should purchase in May $2024$ and what the cost will be$.$