Tree Haven makes and sells silk palm trees. Each tree uses 0.80 yards of silk fabric....

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Tree Haven makes and sells silk palm trees. Each tree uses 0.80 yards of silk fabric. Budgeted production of trees in units for the next five months is as follows: Budgeted production Budgeted sales (a) (b) April 24,160 Your answer is correct. Units to be produced Yards of silk per tree 24,500 22,800 TREE HEAVEN Direct Materials Purchases Budget For the month of June The company wants to maintain monthly ending inventories of fabric equal to 15% of the following month's budgeted production needs, and monthly inventories of trees equal to 20% of the number needed for next month's sales. The cost of silk is $2.00 per yard. Direct labor cost is $14.00 per hour and it takes 66 minutes to complete each tree. Factory overhead is applied at the rate of $1.25 per direct labor dollar. Yards of silk need for production Prepare a direct materials purchases budget for June. (Enter Yards of silk per tree and cost of silk per yard to 2 decimal places, e.g. 0.75. Round all other answers to O decimal places, e.g. 5,250.) Ending raw materials inventory Cost of silk per yard Beginning raw material inventory Yards of silk need to purchase May 23,490 Budgeted cost of materials purchases eTextbook and Media Your answer is partially correct. Ending raw materials inventory Ending finished goods inventory June $ 26,570 26,250 27,850 $ July 26,880 $ $ August 22,900 6451.2 23,000 99225 26570 3188.4 0.8 21256 3225.6 Calculate the amount of Raw Materials and Finished Goods Inventory to be reported on Tree Haven's June 30 balance sheet. (Round answers to 2 decimal places, e.g. 0.75.) i 21293.2 2 42586.4 Attempts: unlimited Tree Haven makes and sells silk palm trees. Each tree uses 0.80 yards of silk fabric. Budgeted production of trees in units for the next five months is as follows: Budgeted production Budgeted sales (a) (b) April 24,160 Your answer is correct. Units to be produced Yards of silk per tree 24,500 22,800 TREE HEAVEN Direct Materials Purchases Budget For the month of June The company wants to maintain monthly ending inventories of fabric equal to 15% of the following month's budgeted production needs, and monthly inventories of trees equal to 20% of the number needed for next month's sales. The cost of silk is $2.00 per yard. Direct labor cost is $14.00 per hour and it takes 66 minutes to complete each tree. Factory overhead is applied at the rate of $1.25 per direct labor dollar. Yards of silk need for production Prepare a direct materials purchases budget for June. (Enter Yards of silk per tree and cost of silk per yard to 2 decimal places, e.g. 0.75. Round all other answers to O decimal places, e.g. 5,250.) Ending raw materials inventory Cost of silk per yard Beginning raw material inventory Yards of silk need to purchase May 23,490 Budgeted cost of materials purchases eTextbook and Media Your answer is partially correct. Ending raw materials inventory Ending finished goods inventory June $ 26,570 26,250 27,850 $ July 26,880 $ $ August 22,900 6451.2 23,000 99225 26570 3188.4 0.8 21256 3225.6 Calculate the amount of Raw Materials and Finished Goods Inventory to be reported on Tree Haven's June 30 balance sheet. (Round answers to 2 decimal places, e.g. 0.75.) i 21293.2 2 42586.4 Attempts: unlimited

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Preparation of Direct material purchase Budget for the month of June Yards of silk need for producti... View the full answer