HIRE QUALIFIED ACADEMIC WRITERS
Q1.Budget schedules for a manufacturer.Hale Specialties manufactures, among other things, woolenblankets for the athletic teams of the two local high schools. The company sews the blankets from fabricand sews on a logo patch purchased from the licensed logo store site. The teams are as follows:¦Broncos, with red blankets and the Broncos logo¦Rams, with black blankets and the Rams logoAlso, the black blankets are slightly larger than the red blankets.The budgeted direct-cost inputs for each product in 2017 are as follows:Broncos Blanket Rams BlanketRed wool fabric 5 yards 0 yardsBlack wool fabric 0 6Broncos logo patches 1 0Rams logo patches 0 1Direct manufacturing labor 4 hours 5 hoursUnit data pertaining to the direct materials for March 2017 are as follows:Actual Beginning Direct Materials Inventory (3/1/2017)Broncos Blanket Rams BlanketRed wool fabric 40 yards 0 yardsBlack wool fabric 0 20Broncos logo patches 50 0Rams logo patches 0 65Target Ending Direct Materials Inventory (3/31/2017)Broncos Blanket Rams BlanketRed wool fabric 30 yards 0 yardsBlack wool fabric 0 20Broncos logo patches 30 0Rams logo patches 0 30Unit cost data for direct-cost inputs pertaining to February 2017 and March 2017 are as follows:Feb. 2017 (actual) Mar. 2017 (budgeted)Red wool fabric (per yard) $10 $11Black wool fabric (per yard) 14 13Broncos logo patches (per patch) 8 8Rams logo patches (per patch) 7 9Manufacturing labor cost per hour 27 28Manufacturing overhead (both variable and fxed) is allocated to each blanket on the basis of budgeteddirect manufacturing labor-hours per blanket. The budgeted variable manufacturing overhead rate forMarch 2017 is $17 per direct manufacturing labor-hour. The budgeted fxed manufacturing overhead forMarch 2017 is $14,625. Both variable and fxed manufacturing overhead costs are allocated to each unitof finished goods.Data relating to finished-goods inventory for March 2017 are as follows:Broncos Blankets Rams BlanketsBeginning inventory in units 14 19Beginning inventory in dollars (cost) $1,960 $2,945Target ending inventory in units 24 29Budgeted sales for March 2017 are 140 units of the Broncos blankets and 195 units of the Rams blankets.The budgeted selling prices per unit in March 2017 are $305 for the Broncos blankets and $378 for the Ramsblankets. Assume the following in your answer:¦Work-in-process inventories are negligible and ignored.¦Direct materials inventory and fnished-goods inventory are costed using the FIFO method.¦Unit costs of direct materials purchased and finished goods are constant in March 2017.Required:-Prepare the following budgets for March 2017:a.Revenues budgetb.Production budget in unitsc.Direct material usage budget and direct materials purchases budgetd.Direct manufacturing labor costs budgete.Manufacturing overhead costs budgetf.Ending inventories budget (direct materials and finished goods)g.Cost of goods sold budgetQ2. ABC Com. job-costing system has two direct-cost categories: direct materials and direct manufacturing labor. Manufacturing overhead (both variable and fixed) is allocated to products on the basis of standard direct manufacturing labor-hours (DLH). At the beginning of 2008, Madetoja adopted the following standards for its manufacturing costs:Cost perInput output unitDirect materials 3 kg at €5.00 per kg €15.00Direct manufacturing labor 5 hours at €15.00 per hour 75.00Manufacturing overheadVariable €6.00 per DLH 30.00Fixed €8.00 per DLH 40.00Standard manufacturing costper output unit €160.00The denominator level for total manufacturing overhead per month in 2008 is 40,000 direct manufacturing labor-hours. Madetoja’s flexible budget for January 2008 was based on this denominator level. The records for January indicate the following:Direct materials purchased 25,000 kg at €5.20 per kgDirect materials used 23,100 kgDirect manufacturing labor 40,100 hours at €14.60 per hourTotal actual manufacturing overhead (variable and fixed) €600000Actual production 7800 output unitsRequiredA. Prepare a schedule of total standard manufacturing costs for the 7800 output units in January 2008.B. For the month of January 2008, calculate the following variances, indicating whether each is favorable (F) or unfavorable (U):a. Direct materials price variance, based on purchasesb. Direct materials efficiency variancec. Direct manufacturing labor price varianced. Direct manufacturing labor efficiency variancee. Total manufacturing overhead spending variancef. Variable manufacturing overhead efficiency varianceg. Production-volume variance.
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