Home / Business /Adam Inc. is a manufacturing firm which designs and manufactures electric switches for use in construction. Below is the expected (budgeted) data for the start of next year: September October November 600 800 740 $20.00 $22.00 $21.00 Sales in units Sales price per unit August 400 $18.00 The desired ending inventory for finished goods (production) is 20% of next month's sales. The desired ending inventory for raw materials is 40% of the next month's raw material requirements. Raw material required for each unit of the product is 5 units. The cost of each unit of raw material is $3 per unit. Time required to assemble one (1) switch is 15 minutes. Workers are paid $20 per direct labour hour. Using the above information answer the following questions. Using the sales budget, calculate the budgeted sales for September. HINT: remember the entry rules! Complete the production budget. How many units will have to be produced in September to meet the requirements? HINT: What are the "Units to be produced" on the production budget for September? Prepare the Direct Materials Purchases Budget. What will be the cost of September's production? HINT: On the Direct Materials Purchases Budget, what will be the "Total direct materials cost"? Prepare the Direct Labour Budget. What will be the total direct labour cost (rounded to the nearest dollar) for September? A/

Question Adam Inc. is a manufacturing firm which designs and manufactures electric switches for use in construction. Below is the expected (budgeted) data for the start of next year: September October November 600 800 740 $20.00 $22.00 $21.00 Sales in units Sales price per unit August 400 $18.00 The desired ending inventory for finished goods (production) is 20% of next month's sales. The desired ending inventory for raw materials is 40% of the next month's raw material requirements. Raw material required for each unit of the product is 5 units. The cost of each unit of raw material is $3 per unit. Time required to assemble one (1) switch is 15 minutes. Workers are paid $20 per direct labour hour. Using the above information answer the following questions. Using the sales budget, calculate the budgeted sales for September. HINT: remember the entry rules! Complete the production budget. How many units will have to be produced in September to meet the requirements? HINT: What are the "Units to be produced" on the production budget for September? Prepare the Direct Materials Purchases Budget. What will be the cost of September's production? HINT: On the Direct Materials Purchases Budget, what will be the "Total direct materials cost"? Prepare the Direct Labour Budget. What will be the total direct labour cost (rounded to the nearest dollar) for September? A/

G9DVDV The Asker · Other Business

Transcribed Image Text: Adam Inc. is a manufacturing firm which designs and manufactures electric switches for use in construction. Below is the expected (budgeted) data for the start of next year: September October November 600 800 740 $20.00 $22.00 $21.00 Sales in units Sales price per unit August 400 $18.00 The desired ending inventory for finished goods (production) is 20% of next month's sales. The desired ending inventory for raw materials is 40% of the next month's raw material requirements. Raw material required for each unit of the product is 5 units. The cost of each unit of raw material is $3 per unit. Time required to assemble one (1) switch is 15 minutes. Workers are paid $20 per direct labour hour. Using the above information answer the following questions. Using the sales budget, calculate the budgeted sales for September. HINT: remember the entry rules! Complete the production budget. How many units will have to be produced in September to meet the requirements? HINT: What are the "Units to be produced" on the production budget for September? Prepare the Direct Materials Purchases Budget. What will be the cost of September's production? HINT: On the Direct Materials Purchases Budget, what will be the "Total direct materials cost"? Prepare the Direct Labour Budget. What will be the total direct labour cost (rounded to the nearest dollar) for September? A/
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Transcribed Image Text: Adam Inc. is a manufacturing firm which designs and manufactures electric switches for use in construction. Below is the expected (budgeted) data for the start of next year: September October November 600 800 740 $20.00 $22.00 $21.00 Sales in units Sales price per unit August 400 $18.00 The desired ending inventory for finished goods (production) is 20% of next month's sales. The desired ending inventory for raw materials is 40% of the next month's raw material requirements. Raw material required for each unit of the product is 5 units. The cost of each unit of raw material is $3 per unit. Time required to assemble one (1) switch is 15 minutes. Workers are paid $20 per direct labour hour. Using the above information answer the following questions. Using the sales budget, calculate the budgeted sales for September. HINT: remember the entry rules! Complete the production budget. How many units will have to be produced in September to meet the requirements? HINT: What are the "Units to be produced" on the production budget for September? Prepare the Direct Materials Purchases Budget. What will be the cost of September's production? HINT: On the Direct Materials Purchases Budget, what will be the "Total direct materials cost"? Prepare the Direct Labour Budget. What will be the total direct labour cost (rounded to the nearest dollar) for September? A/
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Answer:                   1)                     Prepare Sales Budget            Sepember   October   November     Sales in units                                600                               800                               740    Sales price per unit                                  20                                 22                                 21    Budgeted Sales                          12,000                         17,600                         15,540                        Ans: Budgeted sales for September                          12,000                         2)                     Production Budget            Sepember   October   November     Sales in units                                600                               800                               740    Add: Desired Ending FG inventory                                160                               148      Less: Beginning FG inventory                                120                               160      Units to be produced                                640                               788                          Units to be produced on the production budget f ... See the full answer

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