Reference no: EM133062149

Questions -

Q1. Sleep Tight, Inc., manufactures bedding sets. The budgeted production is for 35,400 comforters this year. Each comforter requires 1.5 hours to cut and sew the material. The cost of cutting and sewing labor is $21.70 per hour. Determine the direct labor budget for this year.

Q2. Osprey Cycles, Inc. projected sales of 52,233 bicycles for the year. The estimated January 1 inventory is 5,800 units, and the desired December 31 inventory is 7,810 units. What is the budgeted production (in units) for the year?

Q3. Magnolia, Inc., manufactures bedding sets. The budgeted production is for 18,400 comforters this year. Each comforter requires 7 yards of material. The estimated January 1 beginning inventory is 4,460 yards with the desired ending balance of 5,300 yards of material. If the material costs $5.60 per yard, determine the materials budget for the year.

Q4. Sleep Tight, Inc., manufactures comforters. The estimated inventories on January 1 for finished goods, work in process, and materials were $37,000, $30,000, and $25,000, respectively. The desired inventories on December 31 for finished goods, work in process, and materials were $46,000, $38,000, and $23,000, respectively. Direct materials purchases were $560,000, direct labor was $216,000 for the year, and factory overhead was $149,000. Prepare a cost of goods sold budget for Sleep Tight, Inc.