Question

In: Accounting

Sleep Master, Inc. manufactures bedding sets. The budgeted production is for 57,000 comforters in 2017. Each...

Sleep Master, Inc. manufactures bedding sets. The budgeted production is for 57,000 comforters in 2017. Each comforter requires 6 yards of material. The estimated January 1, 2017, beginning inventory is 31,000 yards. The desired ending balance is 27,000 yards of material. If the material costs $1.50 per yard, determine the materials budget for 2017.

Solutions

Expert Solution

Material Budget for 2017:
Budgeted production a               57,000 Units
Material required per unit b                          6 yards
Materials required for production c=a*b           3,42,000 yards
Ending inventory of materials d               27,000 yards
Beginning inventory of materials e               31,000 yards
Material to be purchased f=c+d-e           3,38,000 yards
Material cost per unit g $               1.50
Total cost of materials purchased h=f*g $       5,07,000

ekkarill92 answered 9 months ago
Next > < Previous

Related Solutions

Sleep Tight, Inc., manufactures comforters. The estimated inventories on January 1 for finished goods, work in...
Sleep Tight, Inc., manufactures comforters. The estimated inventories on January 1 for finished goods, work in process, and materials were $36,000, $32,000, and $28,000, respectively. The desired inventories on December 31 for finished goods, work in process, and materials were $42,000, $36,000, and $23,000, respectively. Direct materials purchases were $555,000, direct labor was $219,000 for the year, and factory overhead was $140,000. Prepare a cost of goods sold budget for Sleep Tight, Inc. Sleep Tight, Inc. Cost of Goods Sold...
Sleep Tight, Inc. manufactures comforters. The estimated inventories on January 1 for finished goods, work in...
Sleep Tight, Inc. manufactures comforters. The estimated inventories on January 1 for finished goods, work in process, and materials were $40,000, $31,000 and $28,000 respectively. The desired inventories on December 31 for finished goods, work in process, and materials were $42,000, $33,000 and $22,000 respectively. Direct materials purchases were $570,000. Direct labor was $241,000 for the year. Factory overhead was $151,000. Prepare a cost of goods sold budget for Sleep Tight, Inc. Sleep Tight, Inc. Cost of Goods Sold Budget...
Sleep Tight, Inc. manufactures comforters. The estimated inventories on January 1 for finished goods, work in...
Sleep Tight, Inc. manufactures comforters. The estimated inventories on January 1 for finished goods, work in process, and materials were $37,000, $32,000 and $29,000 respectively. The desired inventories on December 31 for finished goods, work in process, and materials were $41,000, $38,000 and $19,000 respectively. Direct materials purchases were $575,000. Direct labor was $233,000 for the year. Factory overhead was $154,000. Prepare a cost of goods sold budget for Sleep Tight, Inc. Sleep Tight, Inc. Cost of Goods Sold Budget...
Sleep Tight, Inc., manufactures comforters. The estimated inventories on January 1 for finished goods, work in...
Sleep Tight, Inc., manufactures comforters. The estimated inventories on January 1 for finished goods, work in process, and materials were $40,000, $31,000, and $29,000, respectively. The desired inventories on December 31 for finished goods, work in process, and materials were $42,000, $34,000, and $22,000, respectively. Direct materials purchases were $555,000, direct labor was $244,000 for the year, and factory overhead was $159,000. Prepare a cost of goods sold budget for Sleep Tight, Inc. Sleep Tight, Inc. Cost of Goods Sold...
Labels and Amount Descriptions Cost of Goods Sold Budget X Instruction Sleep Tight, Inc. manufactures comforters....
Labels and Amount Descriptions Cost of Goods Sold Budget X Instruction Sleep Tight, Inc. manufactures comforters. The estimated inventories on January 1 for finished goods, work in process, and materials were $38,000, $32,000, and $28,000, respectively. The desired inventories on December 31 for finished goods, work in process, and materials were $43,000, $34,000, and $22,000, respectively. Direct materials purchases were $570,000, direct labor was $220,000 for the year, and factory overhead was $145,000. Required: Prepare a cost of goods sold...
Sleep Tight manufactures comforters. The estimated inventories on January 1 for finished goods, work in process,...
Sleep Tight manufactures comforters. The estimated inventories on January 1 for finished goods, work in process, and materials were $38,000, $33,000, and $26,000, respectively. The desired inventories on December 31 for finished goods, work in process, and materials were $43,000, $37,000, and $20,000, respectively. Direct material purchases were $575,000, direct labor was $212,000 for the year, and factory overhead was $154,000. Required: Prepare a cost of goods sold budget for Sleep Tight, Inc. Refer to the lists of Labels and...
Sleep Tight manufactures comforters. The estimated inventories on January 1 for finished goods, work in process,...
Sleep Tight manufactures comforters. The estimated inventories on January 1 for finished goods, work in process, and materials were $39,000, $33,000 and $25,000 respectively. The desired inventories on December 31 for finished goods, work in process, and materials were $41,000, $38,000 and $21,000 respectively. Direct material purchases were $575,000. Direct labor was $231,000 for the year. Factory overhead was $159,000. Prepare a cost of goods sold budget for Sleep Tight, Inc. Sleep Tight, Inc. Cost of Goods Sold Budget For...
Sleep Tight manufactures comforters. The estimated inventories on January 1 for finished goods, work in process,...
Sleep Tight manufactures comforters. The estimated inventories on January 1 for finished goods, work in process, and materials were $38,000, $32,000, and $28,000, respectively. The desired inventories on December 31 for finished goods, work in process, and materials were $43,000, $34,000, and $22,000, respectively. Direct material purchases were $570,000, direct labor was $220,000 for the year, and factory overhead was $145,000. Required: Labels For the Year Ending December 31 Direct materials Amount Descriptions Cost of direct materials placed in production...
Sleep Tight manufactures comforters. The estimated inventories on January 1 for finished goods, work in process,...
Sleep Tight manufactures comforters. The estimated inventories on January 1 for finished goods, work in process, and materials were $40,000, $31,000, and $28,000, respectively. The desired inventories on December 31 for finished goods, work in process, and materials were $44,000, $36,000, and $23,000, respectively. Direct material purchases were $580,000, direct labor was $227,000 for the year, and factory overhead was $144,000. Required: Prepare a cost of goods sold budget for Sleep Tight, Inc. Refer to the lists of Labels and...
SHU Inc., manufactures and a product that sells for $1,720 each. During the year, the budgeted...
SHU Inc., manufactures and a product that sells for $1,720 each. During the year, the budgeted fixed manufacturing overhead is estimated to be $1,900,000. Variable costs per unit are $440. Required: a. Determine the break-even point in units. b. Determine the break-even sales dollars c. Determine the number of units that must be sold to earn $300,000 in profit before taxes.
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT