STT= 2

method. The statement should show each product and a total for the company, including detailed calculations for the cost of goods manufactured and sold (Round to nearest dollar). (0.5 points) Problem 2. (2.5 points) Truong Hai Corporation manufactures mainly two different types of furniture product: chair and table. In the fall of the current year, the controller, showed the following data. 3 - Sale budget for 2001 (all units to be shipped in this year and on account) Units Price ($) Product Chair Table 80,000 40,000 120 +STT 190 +STT Raw material prices and inventory levels: Raw material Wood Sheet metal Plastic Expected Desired. Anticipated inventories, inventories, purchase 1/1/2001 (kg) 31/12/2001 (kg) price ($) 42,000 36,000 8 + STT 29,000 32,000 5 + STT 6,000 7,000 3 + STT Use of raw material Amount Used in unit Chair Table 5 7 Raw material Wood (kg) Sheet metal (kg) Plastic (kg) 6 5 2 Direct labor requirements and rates Hours per unit Product Chair Table rate per hour ($) 20 25 - Finished goods inventories (in units) Product Chair Table Expected Desired. inventories, inventories, 1/1/2001 31/12/2001 20000+ (STT*10) 25,000 8,000 9,000 +(STT*10) Production overhead Overhead cost activity: Purchasing and material handling Depreciation, utilities, and inspection Shipping general production overhead Activity-based budget rate $ 0.25 per kg of wood and metal purchased $4 per chair and table produced $1 per chair and table shipped $3 per Direct labor hour 4 Required: Prepare the following budgets for the year of 2001 1. Sales budget (in dollar) (0.25 points) 2. Production budget (in units) (0.5 points) 3. Raw material purchases budget (in quantities) (0.5 points) 4. Raw material purchases budget (in dollar) (0.5 points) 5. Direct labor budget (in dollar) (0.25 points) 6. Production overhead budget (in dollar) (0.5 points) Part II. Optional Problems (3 points) (Please choose and do 2 problems among the following 3 problems) IMPORTANT NOTES: prease use your your students number in the list) to do