When Linda referred to the collection of production budgets she had worked hard to prepare, she...
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When Linda referred to the collection of production budgets she had worked hard to prepare, she was devastated to see several blank cells where amounts once had been. Apparently, a virus had infected her files, leaving missing budget components in a random pattern. Linda needs these complete budgets to do her work. She hopes there will be enough information left to figure out the remaining numbers. Each partial budget is shown here. Production Budget January Budgeted sales volume Plus: Target ending units in FG Inventory Quantity in units to produce Less: Beginning FG Inventory Budgeted units to produce Budgeted units to be produced Quantity of DM per unit (liters) Total production needs (liters) Desired ending DM Inventory (liters) Total DM Inventory needs (liters) Less: Beginning DM Inventory (liters) 90 90 600 600 ? 5 3,000 ? ? Direct Materials Purchases Budget January February 600 February 600 678 588 ? ? 2,940 553 ? ? 588 ? March 631 78 March ? 5 2. 743 3,508 ? Quarter 1,720 111 90 1,741 Quarter 1,741 ? ? ? ? 9,448 ? Budgeted liters of DM to be purchased DM cost per liter Total budgeted cost of DM purchases Budgeted units to be produced Quantity of DL hours per unit Total budgeted DL hours needed Budgeted DL cost per hour Total budgeted DL cost (a1) Budgeted sales volume Direct Labor Budget January January $17,928 ? 2.5 1,500.0 2,988 ? ? ? Fill in the missing details in the production budget. February $17,430 ? 2.5 ? $16 $23,520 ? $6 2,955 March ? 2.5 1,382.5 February ? $22,120 $6 600 ? Production Budget Quarter 1,741 ? ? $16 ? ? $6 ? March Quarter Add: Target ending FG Inventory Total units needed Less: Beginning FG Inventory Budgeted units to be produced 90 90 600 678 588 631 78 When Linda referred to the collection of production budgets she had worked hard to prepare, she was devastated to see several blank cells where amounts once had been. Apparently, a virus had infected her files, leaving missing budget components in a random pattern. Linda needs these complete budgets to do her work. She hopes there will be enough information left to figure out the remaining numbers. Each partial budget is shown here. Production Budget January Budgeted sales volume Plus: Target ending units in FG Inventory Quantity in units to produce Less: Beginning FG Inventory Budgeted units to produce Budgeted units to be produced Quantity of DM per unit (liters) Total production needs (liters) Desired ending DM Inventory (liters) Total DM Inventory needs (liters) Less: Beginning DM Inventory (liters) 90 90 600 600 ? 5 3,000 ? ? Direct Materials Purchases Budget January February 600 February 600 678 588 ? ? 2,940 553 ? ? 588 ? March 631 78 March ? 5 2. 743 3,508 ? Quarter 1,720 111 90 1,741 Quarter 1,741 ? ? ? ? 9,448 ? Budgeted liters of DM to be purchased DM cost per liter Total budgeted cost of DM purchases Budgeted units to be produced Quantity of DL hours per unit Total budgeted DL hours needed Budgeted DL cost per hour Total budgeted DL cost (a1) Budgeted sales volume Direct Labor Budget January January $17,928 ? 2.5 1,500.0 2,988 ? ? ? Fill in the missing details in the production budget. February $17,430 ? 2.5 ? $16 $23,520 ? $6 2,955 March ? 2.5 1,382.5 February ? $22,120 $6 600 ? Production Budget Quarter 1,741 ? ? $16 ? ? $6 ? March Quarter Add: Target ending FG Inventory Total units needed Less: Beginning FG Inventory Budgeted units to be produced 90 90 600 678 588 631 78
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To fill in the missing details in the production budget we need to use the information provided in the tables Lets go through the missing items one by ... View the full answer
Related Book For
Auditing A Practical Approach with Data Analytics
ISBN: 978-1119401742
1st edition
Authors: Raymond N. Johnson, Laura Davis Wiley, Robyn Moroney, Fiona Campbell, Jane Hamilton
Posted Date:
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