Sheridan Company is well known for its high-quality men's shoes. It manufactures all of its products...
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Sheridan Company is well known for its high-quality men's shoes. It manufactures all of its products in regional facilities throughout North America, trying to source DM locally when possible. Managers in the production area of one of its plants are beginning to work on next year's first-quarter budgets to ensure they'll have the necessary resources available. Sales are expected to be steady, with 3,200 pairs of shoes (one pair is one unit) budgeted in January. February and March have anticipated sales volume of 3,500 units each, while April will be down slightly to 3,100 units. In order to prevent stock-outs, Sheridan's policy requires 15% of the following month's sales be held in ending inventory for all of its shoes. This policy is expected to be met on December 31 of this year. Additional DL and MOH information is as follows. Standard DL time DL rate Variable MOH rate Fixed MOH costs Supervisor salaries Depreciation on plant assets Insurance and taxes (a) < 0.5 hours per unit $14.00 per DL hour $1.50 per DL hour Prepare Sheridan's production budget for quarter 1 for this facility. : $4,100 per month $6,900 per month $4,100 per month January February March Quarter (b) Prepare the DL budget for quarter 1 for this facility. (Round answers to 2 decimal places, e.g. 15.25.) $ $ January $ $ February $ $ March $ $ Quarter (c) Prepare the MOH budget for quarter 1 for this facility, identifying total MOH costs as well as cash outlay amount for MOH. (Round answers to 2 decimal places, e.g. 15.25.) $ $ $ $ January $ $ February $ $ March $ $ $ $ Quarter Sheridan Company is well known for its high-quality men's shoes. It manufactures all of its products in regional facilities throughout North America, trying to source DM locally when possible. Managers in the production area of one of its plants are beginning to work on next year's first-quarter budgets to ensure they'll have the necessary resources available. Sales are expected to be steady, with 3,200 pairs of shoes (one pair is one unit) budgeted in January. February and March have anticipated sales volume of 3,500 units each, while April will be down slightly to 3,100 units. In order to prevent stock-outs, Sheridan's policy requires 15% of the following month's sales be held in ending inventory for all of its shoes. This policy is expected to be met on December 31 of this year. Additional DL and MOH information is as follows. Standard DL time DL rate Variable MOH rate Fixed MOH costs Supervisor salaries Depreciation on plant assets Insurance and taxes (a) < 0.5 hours per unit $14.00 per DL hour $1.50 per DL hour Prepare Sheridan's production budget for quarter 1 for this facility. : $4,100 per month $6,900 per month $4,100 per month January February March Quarter (b) Prepare the DL budget for quarter 1 for this facility. (Round answers to 2 decimal places, e.g. 15.25.) $ $ January $ $ February $ $ March $ $ Quarter (c) Prepare the MOH budget for quarter 1 for this facility, identifying total MOH costs as well as cash outlay amount for MOH. (Round answers to 2 decimal places, e.g. 15.25.) $ $ $ $ January $ $ February $ $ March $ $ $ $ Quarter
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a Sheridans Production Budget for Quarter 1 January Budgeted sales 3200 units Ending inventory 15 of February sales 015 3500 525 units Required produc... View the full answer
Related Book For
Financial Reporting Financial Statement Analysis and Valuation a strategic perspective
ISBN: 978-1337614689
9th edition
Authors: James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
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