ACCT 5131 Collected Homework Assignment 4
ACCT 5131
Collected Homework Assignment #4
See the Course Schedule in the syllabus for the due date. Put your answer underneath each question. You may either type your answers in a Word file or write them neatly. However, to receive credit, your work must be easy to follow and your writing must be readable.
Assignment
Style Pants Company manufactures dress pants and jeans. Dress pants and jeans are assembled by a variety of sewing operations. Assume that the sales budget for dress pants and jeans shows estimated sales of 23,600 and 53,100 units, respectively, for May 2020. The finished goods inventories are assumed as follows:
|
Dress Pants |
Jeans | |
|
May 1 estimated inventory |
670 |
1,660 |
|
May 31 desired inventory |
420 |
1,860 |
Assume the following direct labor data per 10 pairs of dress pants or jeans for four different sewing operations:
|
Direct labor per 10 units | ||
|
Dress Pants |
Jeans | |
|
Inseam |
18 minutes |
9 minutes |
|
Outerseam |
20 minutes |
14 minutes |
|
Pockets |
6 minutes |
9 minutes |
|
Zipper |
12 minutes |
6 minutes |
|
Total |
56 minutes |
38 minutes |
Requirements:
- Prepare a production budget for May 2020. Prepare the budget in two columns: Dress Pants and Jeans.
|
Dress pants |
Jeans | |
|
Estimated sales |
23,600 |
53,100 |
|
Desired inventory (May 31) |
420 |
1,860 |
|
Total |
24,020 |
54,960 |
|
Beginning inventory estimated |
670(-) |
1,660(-) |
|
Total to produce |
23,350 |
53,300 |
- Prepare the May 2020 direct labor cost budget for the four sewing operations, assuming a $13 wage per hour for inseam and outerseam sewing operations and a $15 wage rate per hour for the pocket and zipper operations. Prepare the direct labor cost budget for May 2020.
|
Inseam |
Outer seam |
Pockets |
Zipper | |
|
HRS for production | ||||
|
Dress pants (23,350 x # of min/60 min x10pairs) |
701 |
778 |
234 |
467 |
|
Jeans (53,300 x # of min/60 min x 10 pairs) |
800 |
1,244 |
800 |
533 |
|
Total |
1,501 |
2,022 |
1,033 |
1,000 |
|
Labor cost per HR |
13 |
13 |
15 |
15 |
|
Total direct |
19,500 |
26,286 |
15,495 |
15,000 |
- Assume that the selling prices for dress pants and jeans are $50 and $30, respectively. Prepare a revenues budget for May 2020 in the format of Schedule 1 on page 491 of the Datar and Rajan textbook.
|
Revenues |
Budgets | ||
|
Units |
Selling price |
Total revenues | |
|
Dress pants |
23,350 |
$50 |
$1,167,500 |
|
Jeans |
53,300 |
$30 |
$1,599,000 |
|
Total |
$2,766,500 |
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