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REQUIRED PRODUCTION: JANUARY 14730, FEBRUARY 31000, MARCH 14000, APRIL 13000

Inventory Production and raw Materials Details

• Desired ending inventory of seat cover is 20% of next months sales
• Direct Material per unit is 1
• Inventory on December 31 was 2,270 seat cover
• The fabric required for each seat cover cost $16.00
• The fabric required to be in the ending inventory at the end of each month is 10% of next months requirement
• All A/P on December 31 will be paid in January 2270 x16= 36,320
• 40% of the cost of fabric is paid in the month of purchase, 60% the next month.

Direct Labour and Manufacturing Overhead Details

• It takes 0.75 hours to make each bed sheet
• We pay our production employees $25 per hour
• The direct labour payments are made in the same moth the employees earned the wages.
• Fixed overhead is $160,000 per month (including $34,000 of depreciation)
• Variable overhead is $8.00 per direct labour hour
• You will need to calculate the predetermined overhead rate

Compute for the following: Direct Material Budget, Direct Labour Budget and Manufacturing Overhead