Compute the sales budget, the production budget, the direct material usage and purchases budget, the direct...

  

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Compute the sales budget, the production budget, the direct material usage and purchases budget, the direct labor budget, the manufacturing overhead budget, the ending inventories budget, the cost of goods sold budget, the selling and administration budget, the budgeted income statement, and the cash budget for 2022. Skip to the end of 2022. At the end of 2022 the following actual quantities and costs were recorded: A total of 53,500 entry-level Bat's and 11,400 pro- series Bats were produced and sold in 2022 at average selling prices of $65.00 and $160.00, respectively. A total of 240,000 feet of Northern White Ash wood was purchased for the entry- level Bats at a cost of $1,536,000. A total of 54,000 feet of Rock Maple wood was purchased for the pro-series Bats at a cost of $469,800. 211,325 feet of Ash were used to produce the entry-level Bats, and 47,310 feet of Maple were used to create the pro-series Bats. 61,525 direct labor hours were traced to the entry-level Bats, and 29,070 direct labor hours were traced to the pro-series Bats. A total of $1,638,706 in wages was paid to the manufacturing workers (traced to entry-level $999,166 and pro-series $639,540 workers). Further, for manufacturing operations overhead actual fixed costs were $252,252 and actual variable costs were $267,255.25. For machine setup overhead costs, actual fixed costs were $147,000, and actual variable costs were $228,750. Entry-level bats were produced in batches of 107 bats and used 4.8 hours per batch. Pro-series bats were produced in batches of 19 and used 8.5 hours per batch. a. Calculate the direct material price variance, the direct material efficiency variance, the direct labor price variance, and the direct labor efficiency variance for each of the product lines separately. Also, for each MOH activity calculate the FMOH (spending and production volume) variances for the Bat division and the VMOH (spending and efficiency) variances for the two product lines. b. Which of the variances that you calculated should you investigate - and why? Provide possible reasons for the variances. Compute the sales budget, the production budget, the direct material usage and purchases budget, the direct labor budget, the manufacturing overhead budget, the ending inventories budget, the cost of goods sold budget, the selling and administration budget, the budgeted income statement, and the cash budget for 2022. Skip to the end of 2022. At the end of 2022 the following actual quantities and costs were recorded: A total of 53,500 entry-level Bat's and 11,400 pro- series Bats were produced and sold in 2022 at average selling prices of $65.00 and $160.00, respectively. A total of 240,000 feet of Northern White Ash wood was purchased for the entry- level Bats at a cost of $1,536,000. A total of 54,000 feet of Rock Maple wood was purchased for the pro-series Bats at a cost of $469,800. 211,325 feet of Ash were used to produce the entry-level Bats, and 47,310 feet of Maple were used to create the pro-series Bats. 61,525 direct labor hours were traced to the entry-level Bats, and 29,070 direct labor hours were traced to the pro-series Bats. A total of $1,638,706 in wages was paid to the manufacturing workers (traced to entry-level $999,166 and pro-series $639,540 workers). Further, for manufacturing operations overhead actual fixed costs were $252,252 and actual variable costs were $267,255.25. For machine setup overhead costs, actual fixed costs were $147,000, and actual variable costs were $228,750. Entry-level bats were produced in batches of 107 bats and used 4.8 hours per batch. Pro-series bats were produced in batches of 19 and used 8.5 hours per batch. a. Calculate the direct material price variance, the direct material efficiency variance, the direct labor price variance, and the direct labor efficiency variance for each of the product lines separately. Also, for each MOH activity calculate the FMOH (spending and production volume) variances for the Bat division and the VMOH (spending and efficiency) variances for the two product lines. b. Which of the variances that you calculated should you investigate - and why? Provide possible reasons for the variances.

Answer rating: 100% (QA)

Sales budget The sales budget for 2022 is as follows Entrylevel bats 53500 units 6500 per unit 3497500 Proseries bats 11400 units 16000 per unit 18240... View the full answer