Revi Corp. provides the following information for the upcoming year: It expects to sell 29,000 pool cues for $13 each. Direct materials costs are $3, direct manufacturing labor is $5, and manufacturing overhead is $0.83 per pool cue. The following inventory levels apply to the upcoming year: Beginning inventory Ending inventory Direct materials 24,000 units 24,000 units Work-in-process inventory 0 units 0 units Finished goods inventory 1,200 units 2,800 units What are the budgeted costs for direct materials, direct manufacturing labor, and manufacturing overhead, respectively

See explanation

Explanation:

First, we need to calculate the production budget and this will be:

Sales = $29000

Add: Closing inventory of finished goods = $2800

Less: Opening inventory of finished goods = $1200

Production budget = $30600

Direct material purchased:

Production = 30600

Add: Closing inventory of direct material = 24000

Less: Opening inventory of direct material = 24000

Direct material purchased = 36000

a. Budgeted costs for direct materials

= Direct material purchased × price per unit

= 30600 × $3

= $91800

b. Direct manufacturing labor

= Production unit × Cost per unit

= 30600 × $5

= $153000

c. Manufacturing overhead

= Production units × Cost per unit

= 30600 × $0.83

= $25398

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