Cruise Tire Companys Budgeted Unit Sales

ProductUnitsCruise Tire CompanySales BudgetFor the Year Ended December 31TotalUnit Selling PriceUnit Sales VolumeTotal SalesPassenger car tiresTruck tiresProduction BudgetPassenger Car TiresTruck TiresSales (from Sales Budget above)Plus: Desired ending inventory, December 31Less: Estimated beginning inventory, January 1Total Production Total3 part 1)3 part 2)3 part 3)Quantities required for production Passenger car tires 1.5 pounds per tire 10 pounds per tire Truck tires 30 pounds per tire 4 pounds per tireLess: Estimated beginning inventory, January 1Total quantity to be producedUnit priceTotal direct materials purchasesPlus: Desired ending inventory, December 31Rubber (lbs.)Steel Belts (lbs.)Direct Materials3 part 4)DepartmentMoldingFinishingHours required for production: .10 per tire .05 per tire .25 per tire .15 per tireHourly rateTotal direct labor cost3 part 5)Factory Overhead BudgetIndirect materialsIndirect laborDepreciation of building and equipmentPower and lightTotal factory overhead cost3 part 6)Cost of Goods Sold BudgetFinished goods inventory, January 1Direct materials inventory, January 1Direct materials purchasesTotal direct materials availableLess: Direct materials inventory, December 31Cost of direct materials usedDirect LaborFactory overheadCost of goods manufacturedCost of goods available for saleLess: Finished goods inventory, December 31Cost of goods sold