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Production and Direct Labor Cost Budgets Levi Strauss \& Co. manufactures slacks and jeans under a variety of brand names, such as Dockers (0) and 501 Jeans . Slacks and jeans are assembled by a variety of different sewing operations. Assume that the sales budget for Dockers and 501 Jeans shows estimated sales of 23,600 and 53,100 pairs, respectively, for May. The finished goods inventory is assumed as follows: Assume the following direct labor data per 10 pairs of Dockers and 501 Jeans for four different sewing operations: a. Prepare a production budget for May. Prepare the budget in two columns: Dockers and 501 Jeans $. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Levi Strauss \& Co. Production Budget b. Prepare the May direct labor cost budget for the four sewing operations, assuming a $13 wage per hour for the inseam and outerseam sewing operations and a $15 wage per hour for the pocket and zipper sewing operations. Prepare the direct labor cost budget in four columns: inseam, outerseam, pockets, and zipper. Schedule of Cash Collections of Accounts Receivable OfficeMart Inc. has "cash and carry" customers and credit customers. OfficeMart estimates that 25% of monthly sales are to cash customers, while the remaining sales are to credit customers. Of the credit customers, 25% pay their accounts in the month of sale, while the remaining 75% pay their accounts in the month following the month of sale. Projected sales for the next three months are as follows: The Accounts Receivable balance on September 30 was $90,000. Prepare a schedule of cash collections from sales for October, November, and December. Round all calculations to the nearest whole dollar. Schedule of Cash Collections of Accounts Receivable Pet Supplies Inc., a pet wholesale supplier, was organized on January 1. Projected sales for each of the first three months of operations are as follows: All sales are on account. 55% of sales are expected to be collected in the month of the sale, 40% in the month following the sale, and the remainder in the second month following the sale. Prepare a schedule indicating cash collections from sales for January, February, and March. Cost of Goods Sold Budget The controller of MingWare Ceramics Inc. wishes to prepare a cost of goods sold budget for September. The controller assembled the following information for constructing the cost of goods sold budget: Use the preceding information to prepare a cost of goods sold budget for September. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Cost of Goods Sold Budget Delaware Chemical Company uses oil to produce two types of plastic products, P1 and P2. Delaware budgeted 29,900 barrels of oil for purchase in June for $60 per barrel. Direct labor budgeted in the chemical process was $197,300 for June. Factory overhead was budgeted at $322,900 during June. The inventories on June 1 were estimated to be: The desired inventories on June 30 were: Use the preceding information to prepare a cost of goods sold budget for June. For those boxes in which you must enter subtracted or negative numbers use a minus sign

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