eBook Print Item Question Content Area Lens Junction sells lenses for $43 each and is estimating sales of 16,000 units in January and 17,000 in February. Each lens consists of 2 pounds of silicon costing $2.50 per pound, 3 oz of solution costing $3 per ounce, and 30 minutes of direct labor at a labor rate of $16 per hour. Desired inventory levels are:   Jan. 31 Feb. 28 Mar. 31 Beginning inventory       Finished goods 4,300 4,900 5,200 Direct materials: silicon 8,300 8,900 9,300 Direct materials: solution 11,400 12,100 12,800 Question Content Area Prepare a sales budget. Lens JunctionSales BudgetFor the Two Months Ending February 28, 20XX   January February Expected Sales (Units) fill in the blank 86cdb2ff2fd9f88_1 fill in the blank 86cdb2ff2fd9f88_2 Sales Price per Unit $fill in the blank 86cdb2ff2fd9f88_3 $fill in the blank 86cdb2ff2fd9f88_4 Total Sales Revenue $fill in the blank 86cdb2ff2fd9f88_5 $fill in the blank 86cdb2ff2fd9f88_6 Total $fill in the blank 86cdb2ff2fd9f88_7     Question Content Area Prepare a production budget. Lens JunctionProduction BudgetFor the Two Months Ending February 28, 20XX   January February Expected Sales fill in the blank 11ad1c0a8fbe043_1 fill in the blank 11ad1c0a8fbe043_2   - Select - - Select - Total Required Units fill in the blank 11ad1c0a8fbe043_6 fill in the blank 11ad1c0a8fbe043_7   - Select - - Select - Required Production fill in the blank 11ad1c0a8fbe043_11 fill in the blank 11ad1c0a8fbe043_12 Total fill in the blank 11ad1c0a8fbe043_13     Question Content Area Prepare direct materials budget for silicon. Lens JunctionDirect Materials Budget for SiliconFor the Two Months Ending February 28, 20XX   January February Units to be Produced fill in the blank 341aa801ff7f026_1 fill in the blank 341aa801ff7f026_2 Direct Material per Unit fill in the blank 341aa801ff7f026_3 fill in the blank 341aa801ff7f026_4 Total Ounces Needed for Production fill in the blank 341aa801ff7f026_5 fill in the blank 341aa801ff7f026_6   - Select - - Select - Total Material Required fill in the blank 341aa801ff7f026_10 fill in the blank 341aa801ff7f026_11   - Select - - Select - Ounces of Direct Material Purchase Requirements fill in the blank 341aa801ff7f026_15 fill in the blank 341aa801ff7f026_16 Cost per Ounce $fill in the blank 341aa801ff7f026_17 $fill in the blank 341aa801ff7f026_18 Total Cost of Direct Material Purchase $fill in the blank 341aa801ff7f026_19 $fill in the blank 341aa801ff7f026_20 Total Direct Materials Silicon for Two Months Ending February 28, 20XX   $fill in the blank 341aa801ff7f026_21

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Lens Junction sells lenses for $43 each and is estimating sales of 16,000 units in January and 17,000 in February. Each lens consists of 2 pounds of silicon costing $2.50 per pound, 3 oz of solution costing $3 per ounce, and 30 minutes of direct labor at a labor rate of $16 per hour. Desired inventory levels are:

  Jan. 31 Feb. 28 Mar. 31
Beginning inventory      
Finished goods 4,300 4,900 5,200
Direct materials: silicon 8,300 8,900 9,300
Direct materials: solution 11,400 12,100 12,800

Question Content Area

Prepare a sales budget.

Lens JunctionSales BudgetFor the Two Months Ending February 28, 20XX
  January February
Expected Sales (Units) fill in the blank 86cdb2ff2fd9f88_1 fill in the blank 86cdb2ff2fd9f88_2
Sales Price per Unit $fill in the blank 86cdb2ff2fd9f88_3 $fill in the blank 86cdb2ff2fd9f88_4
Total Sales Revenue $fill in the blank 86cdb2ff2fd9f88_5 $fill in the blank 86cdb2ff2fd9f88_6
Total $fill in the blank 86cdb2ff2fd9f88_7  
 

Question Content Area

Prepare a production budget.

Lens JunctionProduction BudgetFor the Two Months Ending February 28, 20XX
  January February
Expected Sales fill in the blank 11ad1c0a8fbe043_1 fill in the blank 11ad1c0a8fbe043_2
 
- Select - - Select -
Total Required Units fill in the blank 11ad1c0a8fbe043_6 fill in the blank 11ad1c0a8fbe043_7
 
- Select - - Select -
Required Production fill in the blank 11ad1c0a8fbe043_11 fill in the blank 11ad1c0a8fbe043_12
Total fill in the blank 11ad1c0a8fbe043_13  
 

Question Content Area

Prepare direct materials budget for silicon.

Lens JunctionDirect Materials Budget for SiliconFor the Two Months Ending February 28, 20XX
  January February
Units to be Produced fill in the blank 341aa801ff7f026_1 fill in the blank 341aa801ff7f026_2
Direct Material per Unit fill in the blank 341aa801ff7f026_3 fill in the blank 341aa801ff7f026_4
Total Ounces Needed for Production fill in the blank 341aa801ff7f026_5 fill in the blank 341aa801ff7f026_6
 
- Select - - Select -
Total Material Required fill in the blank 341aa801ff7f026_10 fill in the blank 341aa801ff7f026_11
 
- Select - - Select -
Ounces of Direct Material Purchase Requirements fill in the blank 341aa801ff7f026_15 fill in the blank 341aa801ff7f026_16
Cost per Ounce $fill in the blank 341aa801ff7f026_17 $fill in the blank 341aa801ff7f026_18
Total Cost of Direct Material Purchase $fill in the blank 341aa801ff7f026_19 $fill in the blank 341aa801ff7f026_20
Total Direct Materials Silicon for Two Months Ending February 28, 20XX   $fill in the blank 341aa801ff7f026_21
 

Question Content Area

Prepare direct materials budget for solution.

Lens JunctionDirect Materials Budget for SolutionFor the Two Months Ending February 28, 20XX
  January February
Units to be Produced fill in the blank fb6246fd6036029_1 fill in the blank fb6246fd6036029_2
Direct Material per Unit fill in the blank fb6246fd6036029_3 fill in the blank fb6246fd6036029_4
Total Ounces Needed for Production fill in the blank fb6246fd6036029_5 fill in the blank fb6246fd6036029_6
 
- Select - - Select -
Total Material Required fill in the blank fb6246fd6036029_10 fill in the blank fb6246fd6036029_11
 
- Select - - Select -
Ounces of Direct Material Purchase Requirements fill in the blank fb6246fd6036029_15 fill in the blank fb6246fd6036029_16
Cost per Ounce $fill in the blank fb6246fd6036029_17 $fill in the blank fb6246fd6036029_18
Total Cost of Direct Material Purchase $fill in the blank fb6246fd6036029_19 $fill in the blank fb6246fd6036029_20
Total Direct Materials Solution for Two Months Ending February 28, 20XX   $fill in the blank fb6246fd6036029_21
 

Question Content Area

Prepare a direct labor budget.

Lens JunctionDirect Labor BudgetFor the Two Months Ending February 28, 20XX
  January February
Units to be Produced fill in the blank 819ce70c2025f9b_1 fill in the blank 819ce70c2025f9b_2
Direct Labor Hours per Unit fill in the blank 819ce70c2025f9b_3 fill in the blank 819ce70c2025f9b_4
Total Required Direct Labor Hours fill in the blank 819ce70c2025f9b_5 fill in the blank 819ce70c2025f9b_6
Labor Cost per Hour $fill in the blank 819ce70c2025f9b_7 $fill in the blank 819ce70c2025f9b_8
Total Direct Labor Cost $fill in the blank 819ce70c2025f9b_9 $fill in the blank 819ce70c2025f9b_10
Total Direct Labor Budget For Two Months Ending February 28, 20XX   $fill in the blank 819ce70c2025f9b_11
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