The two steps to complete the production budget include: (Check all that apply.)Multiple select question.compute cost of materials purchasesenter materials cost per poundcompute total required unitscompute units to produce

A company has the following annual budget data:Beginning finished goods inventory 52,000 unitsSales 82,000 unitsEnding finished goods inventory 42,000 unitsDirect materials $ 12 per unitDirect labor $ 24 per unitVariable factory overhead $ 5 per unitSelling costs $ 2 per unitFixed factory overhead $ 92,000  What are total budgeted production costs for the year? (CIA adapted)Multiple Choice$3,116,000$2,952,000$3,208,000$3,044,000

A manufacturing company would typically prepare all of the following budgets except:Multiple choice question.Production budgetFactory overhead budgetCash budgetMerchandise inventory budget

The total cost of production includes all of the outlays incurred for the acquisition of ______.Multiple choice question.outputsinputs

In the past, four direct labor hours were required to produce each unit of product Y. Material costs were $200 per unit, the direct labor rate was $20 per hour, and factory overhead was three times direct labor cost. In budgeting for next year, management is planning to outsource some manufacturing activities and to further automate others. Management estimates these plans will reduce labor hours by 25%, increase the factory overhead rate to 3.6 times direct labor costs, and increase material costs by $30 per unit. Management plans to manufacture 10,000 units. What amount should management budget for cost of goods manufactured?

3. Budgeted production depends on:a. the direct materials usage budget and direct material purchases budgetb. the direct manufacturing labor budgetc. budgeted sales and expected changes in inventory levelsd. the manufacturing overhead costs budget