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Problem - Lowell Company makes and sells artistic frames for pictures. The controller is responsible for preparing the master budget and has accumulated the following information for 2017.
January
February
March
April
May
Estimated unit sales
12,000
14,000
13,000
11,000
Sales price per unit
$50.00
$47.50
Direct labor hours per unit
2.0
1.5
Wage per direct labor hour
$8.00
$9.00
Lowell has a labor contract that calls for a wage increase to $9.00 per hour on April 1. New labor-saving machinery has been installed and will be fully operational by March 1.
Lowell expects to begin the year with 17,600 frames on hand and has a policy of carrying an end-of-month inventory of 100% of the following month's sales, plus 40% of the second following month's sales.
Required - Prepare a production budget and a direct labor budget for Lowell Company by month and for the first quarter of the year. The direct labor budget should include direct labor hours.
Appalachian Coal Mining believes that it can increase labor productivity and, therefore, net revenue by reducing air pollution in its mines. It estimates that the marginal cost function for reducing air problem in its mines.
NSAB530B5 Management Accounting Assignment, Mont Rose College of Management and Sciences, United Kingdom. Calculate costs using appropriate techniques
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