Lens Junction Direct Materials Budget for Solution For the Two Months Ending February 28, 20XX January Febru Units to be Produced Direct Material per Unit Total Ounces Needed for Production Total Material Required Ounces of Direct Material Purchase Requirements Cost per Ounce Total Cost of Direct Material Purchase Total Direct Materials Solution for Two Months Ending February 28, 20XX Prepare a direct labor budget. Lens Junction Direct Labor Budget For the Two Months Ending February 28, 20XX January February Units to be Produced Direct Labor Hours per Unit Total Required Direct Labor Hours
Lens Junction Direct Materials Budget for Solution For the Two Months Ending February 28, 20XX January Febru Units to be Produced Direct Material per Unit Total Ounces Needed for Production Total Material Required Ounces of Direct Material Purchase Requirements Cost per Ounce Total Cost of Direct Material Purchase Total Direct Materials Solution for Two Months Ending February 28, 20XX Prepare a direct labor budget. Lens Junction Direct Labor Budget For the Two Months Ending February 28, 20XX January February Units to be Produced Direct Labor Hours per Unit Total Required Direct Labor Hours
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter8: Budgeting
Section: Chapter Questions
Problem 2PB: Sales, production, direct materials purchases, and direct labor cost budgets The budget director of...
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Lens Junction sells lenses for $43 each and is estimating sales of 16,000 units in January and 17,000 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 $16 per hour. Desired inventory levels are:
Jan. 31 | Feb. 28 | Mar. 31 | |
Beginning inventory | |||
Finished goods | 4,300 | 4,900 | 5,200 |
Direct materials: silicon | 8,300 | 8,900 | 9,300 |
Direct materials: solution | 11,400 | 12,100 | 12,800 |
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