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Ornamental Sculptures Mfg manufactures garden sculptures Each sculpture requires 8 pounds of direct materials at a cost of $3 per pound and 0 5 direct labor hours at a rate of $18 per hour

Ornamental Sculptures Mfg. manufactures garden sculptures. Each sculpture requires 8 pounds of direct materials at a cost of $3 per pound and 0.5 direct labor hours at a rate of $18 per hour. Variable manufacturing overhead is charged at a rate of $3 per direct labor hour. Fixed manufacturing overhead is $4,000 per month. The company’s policy is to maintain direct materials inventory equal to 20% of the next month’s materials requirement. At the end of March the company had 5,280 pounds of direct materials in inventory. The company’s production budget reports the following. Prepare budgets for March and April for (1) Direct materials, (2) Direct labor, (3) Factory overhead.

Apr 21 2020 View more View Less

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