Stevenson Inc. budgeted production of 48,000 personal journals in 20Y6. Each journal requires assembly. Assume that two minutes are required to assemble each journal. If assembly labor costs $14.00 per hour, determine the direct labor cost budget for 20Y6. Do not round your intermediate calculations but, if required, round your final answer to the nearest dollar. $fill in the blank 1

Stevenson Inc. budgeted production of 48,000 personal journals in 20Y6. Each journal requires assembly. Assume that two minutes are required to assemble each journal. If assembly labor costs $14.00 per hour, determine the direct labor cost budget for 20Y6. Do not round your intermediate calculations but, if required, round your final answer to the nearest dollar. $fill in the blank 1

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 1PA: Lens Junction sells lenses for $45 each and is estimating sales of 15,000 units in January and...

See similar textbooks

Similar questions

Lens Junction sells lenses for $45 each and is estimating sales of 15,000 units in January and 18,000 in February. Each lens consists of 2 pounds of silicon costing $2.50 per pound, 3 oz of solution costing $3 per ounce, and 30 minutes of direct labor at a labor rate of $18 per hour. Desired inventory levels are: Â Prepare a sales budget, production budget. direct materials budget for silicon and solution, and a direct labor budget.
Cloud Shoes manufactures recovery sandals and is planning on producing 12.000 units in March and 11,500 in April. Each sandal requires 1.2 yards if material, which costs $3.00 per yard. The companys policy is to have enough material on hand to equal 15% of next months production needs and to maintain a finished goods inventory equal to 20% of the next months production needs. What is the budgeted cost of purchases for March?
Lens & Shades sells sunglasses for $37 each and is estimating sales of 21,000 units in January and 19,000 in February. Each lens consist of 2.00 mm of plastic costing $2.50 per mm, 1.7 oz of dye costing $2.80 per ounce. and 0.50 hours direct labor at a labor rate of $18 per unit. Desired inventory levels are: Prepare a sales budget, production budget, direct materials budget for silicon and solution, and a direct labor budget.
Sunrise Poles manufactures hiking poles and is planning on producing 4,000 units in March and 3,700 in April. Each pole requires a half pound of material, which costs $1.20 per pound. The companys policy is to have enough material on hand to equal 10% of the next months production needs and to maintain a finished goods inventory equal to 25% of the next months production needs. What is the budgeted cost of purchases for March?
6. Dauber Inc. budgeted production of 33,000 personal journals in 20Y6. Each journal requires assembly. Assume that four minutes are required to assemble each journal. If assembly labor costs $16.25 per hour, determine the direct labor cost budget for 20Y6. Do not round your intermediate calculations but, if required, round your final answer to the nearest dollar. $______
Stevenson Inc. budgeted production of 39,000 personal journals in 20Y6. Each journal requires assembly. Assume that 20 minutes are required to assemble each journal. If assembly labor costs $16 per hour, determine the direct labor cost budget for 20Y6. Do not round your intermediate calculations but, if required, round your final answer to the nearest dollar. $____________
Harbour Inc. budgeted production of 258,000 personal journals in 20Y6. Each journal requires assembly. Assume that 6 minutes are required to assemble each journal. If assembly labor costs $16.50 per hour, determine the direct labor cost budget for 20Y6.$fill in the blank 1
Direct Materials Purchases Budget: Direct Labor Budget Crescent Company produces stuffed toy animals; one of these is "Arabeau the Cow." Each Arabeau takes 0.20 yard of fabric (white with irregular black splotches) and 8 ounces of polyfiberfill. Fabric costs $3.40 per yard and polyfiberfill is $0.05 per ounce. Crescent has budgeted production of Arabeaus for the next four months as follows: Units October 44,000 November 80,000 December 60,000 January 40,000 Inventory policy requires that sufficient fabric be in ending monthly inventory to satisfy 20 percent of the following month's production needs and sufficient polyfiberfill be in inventory to satisfy 40 percent of the following month's production needs. Inventory of fabric and polyfiberfill at the beginning of October equals exactly the amount needed to satisfy the inventory policy. Each Arabeau produced requires (on average) 0.10 direct labor hour. The average cost of direct labor is $16 per hour. Required:
Harbour Inc. budgeted production of 258,000 personal journals in 20Y6. Paper is required to produce a journal. Assume 5 square yards of paper are required for each journal. The estimated January 1, 20Y6, paper inventory is 25,100 square yards. The desired December 31, 20Y6, paper inventory is 17,000 square yards. Paper costs $0.60 per square yard. Each journal requires assembly. Assume that 6 minutes are required to assemble each journal. Assembly labor costs $16.50 per hour. Prepare a cost of goods sold budget for Harbour Inc. using the information above. Assume the estimated inventories on January 1, 20Y6, for finished goods and work in process were $41,100 and $35,700, respectively. Also assume the desired inventories on December 31, 20Y6, for finished goods and work in process were $49,800 and $50,900, respectively. Factory overhead was budgeted at $197,200. Round your interim calculations to nearest cent, if required.
Good Eats Inc. manufactures flatware sets. The budgeted production is for 80,000 sets this year. Each set requires 2.5 hours to polish the material. If polishing labor costs $15.00 per hour, determine the direct labor cost budget for polishing for the year.$____
Sleep Tight, Inc., manufactures bedding sets. The budgeted production is for 27,400 comforters this year. Each comforter requires 1.5 hours to cut and sew the material. The cost of cutting and sewing labor is $18.80 per hour. Determine the direct labor budget for this year.$fill in the blank 1
Jillian Inc. produces leather handbags. The production budget for the next four months is: July 5,100 units, August 7,300, September 7,700, October 8,500. Each handbag requires 1.3 hours of unskilled labor (paid $13 per hour) and 3.1 hours of skilled labor (paid $18 per hour). How much will be paid to skilled labor during the three months July through September? Multiple Choice $361,800 $1,311,300 $6,512,400 $1,121,580