Step 19 of 40: Direct Materials Budget

Steps labeled YOUR TURN are reinforcing steps that present opportunities to apply concepts covered earlier in the assignment.

Be sure to listen to the audio portion of the video as you work through the assignment. The presenter elaborates further on what is being presented on screen and will offer tips.

This slide shows instructions for completing a Product Cost Budget in an Excel worksheet, broken down into three key steps for students:

Fill in cells B20:F20.
The first instruction highlights that the user must fill in the row for "Required production in units" across the 1st to 4th quarters and the annual total in cells B20:F20. These values correspond to the budgeted production numbers for each quarter.
Fill in Cells B21:F22:
These rows track "Pounds of raw materials needed per unit" and and "Pounds of raw materials needed to meet production.
Enter a Formula in B23 and Copy Across to D23.

Enter =C22*'Budget Assumptions'!$B$21 into cell B23 and then copy across to D23. This multiplies the 2nd Quarter Pounds of Raw Materials Needed to Meet Production in C22 by the "Percentage of Next Quarter's Production Needs in Ending Inventory Assumptions (cell B21 on the Budget Assumptions worksheet).
The user must enter this formula in B23 and copy it across to D23.

Each step is clearly marked with a yellow box and corresponding red circles to guide users through entering the required values and formula.

NOTE: Amounts should be derived by formulas. You will only receive partial credit if you type in numbers in the cells for the We're here to help

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