Black Diamond Company produces snowboards. Each snowboard requires 2 pounds of carbon fiber. Management reports that 5,600 snowboards and 6,600 pounds of carbon fiber are in inventory at the beginning of the third quarter, and that 156,000 snowboards are budgeted to be sold during the third quarter. Management wants to end the third quarter with 4,100 snowboards and 4,600 pounds of carbon fiber in inventory. Carbon fiber costs $21 per pound. Each snowboard requires 0.5 hour of direct labor at $26 per hour. Variable overhead is budgeted at the rate of $14 per direct labor hour. The company budgets fixed overhead of $1,788,000 for the quarter.

Xander Manufacturing Company manufactures blue rugs, using wool and dye as direct materials. One rug is budgeted to use 36 skeins of wool at a cost of $2 per skein and 0.8 gallons of dye at a cost of $6 per gallon. All other materials are indirect. At the beginning of the year Xander has an inventory of 458,000 skeins of wool at a cost of $961,800 and 4,000 gallons of dye at a cost of $23,680. Target ending inventory of wool and dye is zero. Xander uses the FIFO inventory cost-flow method. Xander blue rugs are very popular and demand is high, but because of capacity constraints the firm will produce only 200,000 blue rugs per year. The budgeted selling price is $2,000 each. There are no rugs in beginning inventory. Target ending inventory of rugs is also zero. Xander makes rugs by hand, but uses a machine to dye the wool. Thus, overhead costs are accumulated in two cost pools—one for weaving and the other for dyeing. Weaving overhead is allocated to products based on direct…

Mackinac Inc. produces denim backpacks. The production budget for the next four months is: July 5,500 units, August 7,700 units, September 7,700 units, October 8,100 units. Each backpack requires 0.6 square meters of denim. Mackinac Inc.’s denim inventory policy is 30% of next month’s production needs. On July 1 leather inventory was expected to be 990 square meters. Denim is expected to cost $5.00 per square meter in June, but go up to $6.00 per square meter in July. What is the expected cost of denim purchases in July?     Multiple Choice   $23,076   $23,176   $22,176   $20,676

Required information [The following information applies to the questions displayed below.] Black Diamond Company produces snowboards. Each snowboard requires 3 pounds of carbon fiber. Management reports that 5,300 snowboards and 6,300 pounds of carbon fiber are in inventory at the beginning of the third quarter, and that 153,000 snowboards are budgeted to be sold during the third quarter. Management wants to end the third quarter with 3,800 snowboards and 4,300 pounds of carbon fiber in inventory. Carbon fiber costs $18 per pound. Each snowboard requires 0.5 hour of direct labor at $23 per hour. Variable overhead is budgeted at the rate of $11 per direct labor hour. The company budgets fixed overhead of $1,785,000 for the quarter. 3. Prepare the direct labor budget for the third quarter. BLACK DIAMOND COMPANY Units to produce Direct labor hours needed Cost of direct labor Direct Labor Budget Third Quarter

Required information [The following information applies to the questions displayed below.) Black Diamond Company produces snowboards. Each snowboard requires 3 pounds of carbon fiber. Management reports that 6,800 snowboards and 7,800 pounds of carbon fiber are in inventory at the beginning of the third quarter, and that 168,000 snowboards are budgeted to be sold during the third quarter. Management wants to end the third quarter with 5,300 snowboards and 5,800 pounds of carbon fiber in inventory. Carbon fiber costs $17 per pound. Each snowboard requires 0.5 hour of direct labor at $22 per hour. Variable overhead is budgeted at the rate of $12 per direct labor hour. The company budgets fixed overhead of $1,800,000 for the quarter. Required: 1. Prepare the production budget for the third quarter. Hint: Desired ending inventory units are given. BLACK DIAMOND COMPANY Production Budget (in units) Third Quarter Total required units Units to produce

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Garden Yeti manufactures garden sculptures. Each sculpture requires 8 pounds of direct materials at a cost of $3 per pound and 0.4 direct labor hour at a rate of $13 per hour. Variable overhead is budgeted at a rate of $3 per direct labor hour. Budgeted fixed overhead is $3,800 per month. The company’s policy is to maintain direct materials inventory equal to 40% of the next month’s direct materials requirement. At the end of February the company had 11,200 pounds of direct materials in inventory. The company’s production budget reports the following.  Production Budget March April May Units to produce 3,500 4,800 5,000  (1) Prepare direct materials budgets for March and April.(2) Prepare direct labor budgets for March and April.(3) Prepare factory overhead budgets for March and April.  GARDEN YETI Direct Materials Budget   March April Units to produce     Materials required per unit (pounds)     Materials needed for production (pounds)…

Macchu Company produces stuffed toy animals; one of these is "Andie the llama." Each Andie takes 0.30 yards of fabric in 8 ounces of poly fiber fill. Fabric cost $3.50 per yard and poly fiberfill is $0.05 per ounce. Macchu has budgeted production of Andies for the next four months as follows:   Units October 42,000 November 90,000 December 50,000 January 40,000 Inventory policy requires that sufficient fabric be in the ending monthly inventory to satisfy 10% of the following month's production needs and sufficient poly fiberfill be in inventory to satisfy 15% of the following month's production needs. Inventory of fabric and poly fiberfill at the beginning of October equals exactly the amount needed to satisfy the inventory policy.  Each Andie produced requires (on average) 0.25 direct labor hours. The average cost of direct labor is $14 per hour.   Requires: 1. Prepare a direct materials purchased his budget of fabric for the last quarter of the year showing purchases in…

Sit-Down Ltd manufactures chairs. Each chair requires 425 grams of plastic costing $0.34 per 10 grams. Sit-Down uses the plastic to cover the chairs. Sit-Down has budgeted production of chairs for the next four months as follows: Units March 3, 500 April 4,400 May 4,900 June 6,300 Inventory policy requires that sufficent plastic be in ending monthly inventory to satisfy 20 percent of the following month's production needs. The inventory of plastic at the beginning of March equals exactly the amount needed to satisfy the inventory policy. The ending inventory (grams) for March is 374,000 297,500 535,500 416,500

Minty Madness Co. manufactures mint-flavoured products. Minty has four main products: Minty Cookies, Minty Ice Cream, Minty Chocolate, and Minty Gum. Maximum demand for these products is 20 units of each per month. Each product requires a different amount of mint. Since Minty only uses a specially flavoured mint in its products, it is limited to 100 kgs of mint each month. Management is reviewing its budget for the month of March, and has provided the following data: Cookies $60 $25 1.5 kg Ice Cream $90 $48 2 kg Chocolate $50 $26 0.75 kg Gum Sales price per unit Variable costs per unit Mint required per unit $40 $18 1.25 kg Required: Analyze this data and determine the best product mix for Minty Madness Co. to maximize its profitability in the month of March. Ensure that you show all your calculations.