The budget director of Gourmet Grill Company requests estimates of sales, production, and other operating data from the various administrative units every month. Selected information concerning sales and production for July 2014 is summarized as follows:
a. Estimated sales for July by sales territory:
b. Estimated inventories at July 1:
c. Desired inventories at July 31:
d. Direct materials used in production:
e. Anticipated purchase price for direct materials:
f. Direct labor requirements:
Required:
1.Prepare a sales budget for July.
| Gourmet Grill Company Sales Budget For the Month Ending July 31, 2014 |
||||
|---|---|---|---|---|
| Product and Area | Unit Sales Volume |
Unit Selling Price |
Total Sales | |
| Backyard Chef: | ||||
| Maine | ||||
| Vermont | ||||
| New Hampshire | ||||
| Total | ||||
| Master Chef: | ||||
| Maine | ||||
| Vermont | ||||
| New Hampshire | ||||
| Total | ||||
| Total revenue from sales | ||||
2.Prepare a production budget for July.
| Gourmet Grill Company Production Budget For the Month Ending July 31, 2014 |
||
|---|---|---|
| Units | ||
| Backyard Chef | Master Chef | |
| Expected units to be sold | ||
| Plus desired inventory, July 31, 2014 | ||
| Total | ||
| Less estimated inventory, July 1, 2014 | ||
| Total units to be produced | ||
3.Prepare a direct materials purchases budget for July.
| Gourmet Grill Company Direct Materials Purchases Budget For the Month Ending July 31, 2014 |
|||||
|---|---|---|---|---|---|
| Grates (units) |
Stainless Steel (lbs.) |
Burner Sub- assemblies (units) |
Shelves (units) |
Total | |
| Required units for production: | |||||
| Backyard Chef | |||||
| Master Chef | |||||
| Plus desired inventory, July 31, 2014 | |||||
| Total | |||||
| Less estimated inventory, July 1, 2014 | |||||
| Total units to be purchased | |||||
| Unit price | |||||
| Total direct materials to be purchased | |||||
4.Prepare a direct labor cost budget for July.
| Gourmet Grill Company Direct Labor Cost Budget For the Month Ending July 31, 2014 |
||||||||
|---|---|---|---|---|---|---|---|---|
| Stamping Department |
Forming Department | Assembly Department | Total | |||||
| Hours required for production: | ||||||||
| Backyard Chef | ||||||||
| Master Chef | ||||||||
| Total | ||||||||
| Hourly rate | ||||||||
| Total direct labor cost | ||||||||
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