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Wenger Inc Budgeting

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University of Nairobi
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Wenger Inc. Balance Sheet As on 12/31/2019 Assets: Cash Accounts Receivable DM Inventory FG Inventory Land Building and Equipment Accumulated Depreciation Total Assets $21,800 9,000 13,475 319,100 8,000 70,000 -29,200 $ 412,175 Liabilites & Stockholder's Equity: Accounts Payable Capital Stock Retained Earnings Total Liabilities & Stockholder's Equity $2,580 17,500 392095 $ 412,175 Expected Activity 2020 1) Marketing Department Sales Projections Outdoor Chairs January/20 1,500 February/20 2,900 March/20 3,200 Selling Price 250 2) Ending Finished Goods Inventory (12/31/2019)120 200 Ending Finished Goods Inventory Cost per unit180 (12/31/2019) 550 Ending Finished Goods Inventory required 20% expected next month's sales Inventory Mehtod FIFO 3) Direct Material per unit requirementsOutdoor Chairs Plastic 25 Leather 0 Wood 0 Target Ending DM Inventory Office Chairs 3,600 7,800 6,400 600 Office Chairs 15 21 0 30% of the amount of material required to be used in 4) Direct Labor per unit requirements Number of hours Direct labor rate 5) Activity-based costing 6) Set-up requirements Outdoor Chairs Number of Set-up hours required per batch 1.5 Machine hours per chair 4 Number of units per batch 7) Variable selling & administrative exp Fixed selling & administrative exp Outdoor Chairs Office Chairs 4 7 $13.00 per hour Cost Pool Setup Machining Assembly Packaging Cost Driver Setup Hours Machine Hours Direct Labor Hours Number of chairs Office Chairs 3 6 40 units ...
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