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Atkinson's Reliable Tools make two products that use similar raw materials: #587Q and #253X. Estimated production needs for a unit of each product follow. #587Q #253X Steel (in pounds) 3 5 Wood (in...

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Atkinson's Reliable Tools make two products that use similar raw materials: #587Q and #253X. Estimated production needs for a unit of each product follow. #587Q #253X Steel (in pounds) 3 5 Wood (in board feet XXXXXXXXXX Direct labor (in hours) 2 3 Machine hours XXXXXXXXXX Estimated sales in units by product for 2014 are 80,000 of #587Q and 30,000 of #253X. Additionally, estimated beginning and desired ending inventory quantities for 2014 are as follows. Beginning Ending #587Q (units XXXXXXXXXX #253X (units) 1,200 900 Steel (in pounds) 2,000 1,400 Wood (in board feet XXXXXXXXXX Overhead is applied to production at the rate of $15 per machine hour and the direct labor wage rate is $10.50 per hour. Prepare the production, purchases, direct labor, and overhead budgets for 2014.

Check points

Production totals for each column: 79,840 & 29,700
Purchases in pounds total 387,420
Purchases in board feed total 45,660
Cost of DL column totals: 1,676,640; 935,550 & 2,612,190
Cost of OH column totals: 598,800; 311,850 & 910,650

Answered Same Day Dec 24, 2021

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David answered on Dec 24 2021
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