Hello I am working on the homework below I would be very gra

Hello, I am working on the homework below, I would be very grateful for help in solving it.

1. For Gundy Company, units to be produced are 5,280 in quarter 1 and 6,400 in quarter 2. It takes 2.0 hours to make a finished unit, and the expected hourly wage rate is $15 per hour.

Prepare a direct labor budget by quarters for the 6 months ending June 30, 2017.

Quarter

1

2

Six Months

2. Perine Company has 5,421 pounds of raw materials in its December 31, 2016, ending inventory. Required production for January and February of 2017 are 4,170 and 5,990 units, respectively. 5 pounds of raw materials are needed for each unit, and the estimated cost per pound is $6. Management desires an ending inventory equal to 26% of next month’s materials requirements.

Prepare the direct materials budget for January. (Round intermediate calculations and final answer to 0 decimal places, e.g. 5,275.)

3. For Roche Inc., variable manufacturing overhead costs are expected to be $21,000 in the first quarter of 2017, with $4,340 increments in each of the remaining three quarters. Fixed overhead costs are estimated to be $35,280 in each quarter.

Prepare the manufacturing overhead budget by quarters and in total for the year.

Quarter

1

2

3

4

Year

Variable costs

Fixed costs

Total manufacturing overhead

4. Kaspar Industries expects credit sales for January, February, and March to be $204,700, $262,800, and $317,800, respectively. It is expected that 75% of the sales will be collected in the month of sale, and 25% will be collected in the following month.

Compute cash collections from customers for each month.

Collections from Customers

Credit Sales

January

February

March

5. Mussatto Corporation produces snowboards. The following per unit cost information is available: direct materials $10, direct labor $12, variable manufacturing overhead $7, fixed manufacturing overhead $14, variable selling and administrative expenses $6, and fixed selling and administrative expenses $8. Using a 41% markup percentage on total per unit cost, compute the target selling price. (Round answer to 2 decimal places, e.g. 10.50.)

GUNDY COMPANY Direct Labor Budget June 30, 2017For the Quarter Ending June 30, 2017For the Six Months Ending June 30, 2017
		Quarter
		1		2		Six Months
Total Required Direct Labor HoursDirect Labor Cost Per HourDirect Materials PurchasesUnits to be ProducedDesired Ending InventoryDirect Labor Time Per UnitDirect Materials Per UnitTotal Cost of Direct Materials PurchasesTotal Materials RequiredTotal Pounds Required for ProductionBeginning Materials InventoryCost Per PoundTotal Direct Labor Cost
Total Cost of Direct Materials PurchasesTotal Required Direct Labor HoursTotal Direct Labor CostDirect Materials Per UnitDesired Ending InventoryTotal Pounds Required for ProductionTotal Materials RequiredDirect Labor Cost Per HourDirect Materials PurchasesUnits to be ProducedBeginning Materials InventoryCost Per PoundDirect Labor Time Per Unit
Direct Materials Per UnitDirect Labor Time Per UnitTotal Direct Labor CostDirect Labor Cost Per HourTotal Required Direct Labor HoursTotal Cost of Direct Materials PurchasesDirect Materials PurchasesUnits to be ProducedCost Per PoundTotal Materials RequiredDesired Ending InventoryBeginning Materials InventoryTotal Pounds Required for Production
Beginning Materials InventoryTotal Pounds Required for ProductionDirect Materials PurchasesTotal Required Direct Labor HoursUnits to be ProducedCost Per PoundTotal Cost of Direct Materials PurchasesDirect Materials Per UnitDesired Ending InventoryTotal Direct Labor CostDirect Labor Cost Per HourTotal Materials RequiredDirect Labor Time Per Unit		$		$
Total Direct Labor CostTotal Materials RequiredTotal Pounds Required for ProductionTotal Required Direct Labor HoursBeginning Materials InventoryDesired Ending InventoryDirect Labor Cost Per HourDirect Materials PurchasesDirect Labor Time Per UnitCost Per PoundDirect Materials Per UnitUnits to be ProducedTotal Cost of Direct Materials Purchases		$		$		$

Solution

Q1. Labour budget Q1 Q2 Six month Budgeted Production units 5280 6400 11680 Labour hours pre unit required 2 2 2 Total requirement of Labor hours 10560 12800 23360 Labour rate per hour 15 15 15 Budgeted labour cost 158400 192000 350400