Illuminate Corporation manufactures and sells two types of decorative lamps, Knox and Ayer. It expects to manufacture 17

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Illuminate Corporation Manufactures And Sells Two Types Of Decorative Lamps Knox And Ayer It Expects To Manufacture 17 1 (34.16 KiB) Viewed 45 times

Illuminate Corporation manufactures and sells two types of decorative lamps, Knox and Ayer. It expects to manufacture 17,000 Knox lamps and 16,000 Ayer lamps in 2020. The following data are available for the year 2020. Click the icon to view the information.) (Click the icon to view the December 31, 2020 production budget in units.) Calculate (a) the direct materials usage budget in quantity and dollars (label it Schedule 3A); (b) the direct materials purchase budget in quantity and dollars (label it Schedule 3B); and (c) the direct manufacturing labor costs budget (label it Schedule 4) for the year ending December 31, 2020 (a). Begin by calculating the direct materials usage budget in quantity and then in dollars (label it Schedule 3A) for the year ending December 31, 2020. Schedule 3A: Direct Material Usage Budget in Quantity and Dollars for the Year Ending December 31, 2020 Material Metal Fabric Total Physical Units Budget Direct materials required for Knox lamps 34000 lbs 17,000 yards 48000 Direct materials required for Ayer lamps lbs 32,000 yards 49,000 yards 82000 Total quantity of direct materials to be used lbs.
Х Data table Direct materials - Data table Metal Fabric Direct manufacturing labor $ 2 per pound (same as in 2019) $ 3 per yard (same as in 2019) $ 16 per hour Schedule 2: Production Budget (in Units) for the Year Ending December 31, 2020 Content of Each Product Unit Knox Ayer Product Knox 17,300 2,200 16,000 1.200 Metal Ayer 7 pounds 2.00 yards Budgeted units sales Add target ending finished goods inventory Total required units Deduct beginning finished goods inventory 6 pounds 1.00 yard 0.05 hours 19,500 Fabric 17.200 1,200 2.500 Direct manufacturing labor 0.30 hours 17,000 16,000 Units of finished goods to be produced Direct Materials Metal Fabric Beginning inventory Target ending inventory 10,000 pounds 12,000 yards 8,000 pounds 10,000 yards Print Done