Cost of Goods Sold Budget Delaware Chemical Company uses oil to produce two types of plastic products, P1 and P2. Delaware budgeted 35,000 barrels of oil for purchase in June for $90 per barrel. Direct labor budgeted in the chemical process was $240,000 for June. Factory overhead was budgeted at $400,000 during June. The inventories on June 1 were estimated to be: Oil $15,200 P1 8,300 P2 8,600 Work in process 12,900 The desired inventories on June 30 were: Oil $16,100 P1 9,400 P2 7,900 Work in process 13,500 Use the preceding information to prepare a cost of goods sold budget for June. For those boxes in which you must enter subtracted or negative numbers use a minus sign.

Direct materials purchases budget Anticipated sales for Safety Grip Company were 62,000 passenger car tires and 19,000 truck tires. Rubber and steel belts are used in producing passenger car and truck tires as follows: Passenger Car 25 lbs. per unit 58 lbs. per unit 6 lbs. per unit 15 lbs. per unit The purchase prices of rubber and steel are $3.30 and $4.30 per pound, respectively. The desired ending inventories of rubber and steel belts are 58,000 and 13, pounds, respectively. The estimated beginning inventories for rubber and steel belts are 68,000 and 10,000 pounds, respectively. Prepare a direct materials purchases budget for Safety Grip Company for the year ended December 31, 20Y9. Rubber Steel belts Truck

Direct Materials Purchases Budget Anticipated sales for Safety Grip Company were 58,000 passenger car tires and 17,000 truck tires. Rubber and steel belts are used in producing passenger car and truck tires as follows: Passenger Car Truck Rubber 29 Ibs. per unit 68 Ibs. per unit Steel belts 7 Ibs. per unit 18 Ibs. per unit The purchase prices of rubber and steel are $3.10 and $4.10 per pound, respectively. The desired ending inventories of rubber and steel belts are 55,000 and 11,000 pounds, respectively. The estimated beginning inventories for rubber and steel belts are 64,000 and 9,000 pounds, respectively. Prepare a direct materials purchases budget for Safety Grip Company for the year ended December 31, 20Y9. Safety Grip Company Direct Materials Purchases Budget For the Year Ending December 31, 20Y9 Rubber Steel Belts Total Pounds required for production: Passenger tires 1,682,000 V Ibs. 3,944,000 X Ibs. Truck tires 119,000 X 306,000 Desired inventory, December 31, 20Y9 V 55,000 V…

Direct Materials Purchases Budget Pasadena Candle Inc. budgeted production of 780,000 candles for the January. Wax is required to produce a candle. Assume 15 ounces of wax is required for each candle. The estimated January 1 wax inventory is 16,000 pounds. The desired January 31 wax inventory is 14,300 pounds. If candle wax costs $1.60 per pound, determine the direct materials purchases budget for January. (One pound = 16 ounces.) Round all computed answers to the nearest whole number. For those boxes in which you must enter subtracted or negative numbers use a minus sign.   Pasadena Candle Inc.Direct Materials Purchases BudgetFor the Month Ending January 31 Pounds of wax required for production:     Candles   Desired ending inventory, January 31 Total units available fill in the blank 5   Estimated beginning inventory, January 1 Total pounds to be purchased fill in the blank 8 Unit price $fill in the blank 9 Total direct materials to be purchased in January…

12. Wilmington Chemical Company uses oil to produce two types of plastic products, P1 and P2. Wilmington budgeted 20,000 barrels of oil for purchase in June for $67 per barrel. Direct labor budgeted in the chemical process was $160,800 for June. Factory overhead was budgeted $241,200 during June. The inventories on June 1 were estimated to be: Oil $11,300 P1 7,600 P2 6,400 Work in process 9,300 The desired inventories on June 30 were: Oil $12,400 P1 6,900 P2 6,100 Work in process 9,600 Use the preceding information to prepare a cost of goods sold budget for June.

Direct Materials Purchases Budget Marshall Inc. budgeted production of 42,000 personal journals in 20Y6. Paper is required to produce a journal. Assume 48 square yards of paper are required for each journal. The estimated January 1, 20Y6, paper inventory is 81,000 square yards. The desired December 31, 20Y6, paper inventory is 111,000 square yards. If paper costs $0.1 per square yard, determine the direct materials purchases budget for 20Y6. If required, round your final answer to the nearest dollar.$fill in the blank 1

Operating Budget, Comprehensive Analysis Ponderosa, Inc., produces wiring harness assemblies used in the production of semi-trailer trucks. The wiring harness assemblies are sold to various truck manufacturers around the world. Projected sales in units for the coming five months are given below. January 10,000 February 10,600 March 13,600 April 16,000 May 18,500 The following data pertain to production policies and manufacturing specifications followed by Ponderosa: Finished goods inventory on January 1 is 900 units. The desired ending inventory for each month is 20 percent of the next month’s sales. The data on materials used are as follows: Direct Material Per-Unit Usage Unit Cost Part #K298 2                $4         Part #C30 3                7         Inventory policy dictates that sufficient materials be on hand at the beginning of the month to satisfy 30 percent of the next month’s production needs. This is exactly the amount of material on hand on…

Direct Labor Cost Budget Ace Racket Company manufactures two types of tennis rackets, the Junior and Pro Striker models. The production budget for July for the two rackets is as follows:   Junior Pro Striker Production budget 1,500 units 6,200 units Both rackets are produced in two departments, Forming and Assembly. The direct labor hours required for each racket are estimated as follows:   Forming Department Assembly Department Junior 0.16 hour per unit 0.24 hour per unit Pro Striker 0.20 hour per unit 0.30 hour per unit The direct labor rate for each department is as follows: Forming Department $18.00 per hour Assembly Department $14.00 per hour Prepare the direct labor cost budget for July. Ace Racket Company Direct Labor Cost Budget For the Month Ending July 31   Forming Department Assembly Department Hours required for production:     Junior fill in the blank 1 fill in the blank 2 Pro Striker fill in the blank 3 fill in the blank 4…