2.B. Red Rose Company MOH Budget for January, 2022 Variable costs: Indirect Material (5 TL per DL hour) 5,000 Indirect Labor (4 TL per DL hour) 4,000 Maintenance (1 TL per DL hour) 1,000 Utilities (0,5 TL per DL hour) 500 10,500 Fixed costs: Supervisory 2,000 Depreciation 2,000 Rent 1,000 Insurance 500 5,500 Total MOH Costs 16,000 Red Rose Company planned to produce 4,000 boxes of Red Rose Delights in January 2022. Each box requires 15 minutes of direct labour (1/4 DL hour). Managerial accountant prepared the MOH budget for January (presented above). Actual production was 3,600 boxes and fixed overhead costs were exactly the same, however actual variable overhead costs are: indirect material 4,900 TL; indirect labor 3,400 TL; maintenance 1,100 TL; utilities 550 TL. Supervisor can control all costs other than supervisory, depreciation and insurance. Prepare a flexible budget report for January, 2022.

2.B. Red Rose Company MOH Budget for January, 2022 Variable costs: Indirect Material (5 TL per DL hour) 5,000 Indirect Labor (4 TL per DL hour) 4,000 Maintenance (1 TL per DL hour) 1,000 Utilities (0,5 TL per DL hour) 500 10,500 Fixed costs: Supervisory 2,000 Depreciation 2,000 Rent 1,000 Insurance 500 5,500 Total MOH Costs 16,000 Red Rose Company planned to produce 4,000 boxes of Red Rose Delights in January 2022. Each box requires 15 minutes of direct labour (1/4 DL hour). Managerial accountant prepared the MOH budget for January (presented above). Actual production was 3,600 boxes and fixed overhead costs were exactly the same, however actual variable overhead costs are: indirect material 4,900 TL; indirect labor 3,400 TL; maintenance 1,100 TL; utilities 550 TL. Supervisor can control all costs other than supervisory, depreciation and insurance. Prepare a flexible budget report for January, 2022.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Diane Buswell is preparing the 2022 budget for one of Current Designs' rotomolded kayaks. Extensive meetings with members of the sales department and executive team have resulted in the following unit sales projections for 2022. Quarter 1 1,300 kayaks Quarter 2 2,000 kayaks Quarter 3 950 kayaks Quarter 4 950 kayaks Current Designs' policy is to have finished goods ending inventory in a quarter equal to 25% of the next quarter's anticipated sales. Preliminary sales projections for 2023 are 1,100 units for the first quarter and 2,000 units for the second quarter. Ending inventory of finished goods at December 31, 2021, will be 325 rotomolded kayaks. Production of each kayak requires 44 pounds of polyethylene powder and a finishing kit (rope, seat, hardware, etc.). Company policy is that the ending inventory of polyethylene powder should be 20% of the amount needed for production in the next quarter. Assume that the ending inventory of polyethylene powder on December 31, 2021, is 21,800…
rr
Interplast Ghana is a rubber fabricating company based at North Industrial Area. The company produce rubber buckets for the West African market and plans to produce 1,000 units of buckets in the month of January. The bucket requires a single operation and the standard cost for the operation is presented below: Standard cost card (bucket) GH₂ Direct material (plastics): 10 kg at GHe 0.50 per kg) Direct labour (5hours@ GHe 20 per hours) Variable overheads (3 hours at GHe 2 per direct labour) Total standard variable cost Standard contribution margin Standard selling price Budget statement for the month of January Sales (1.000 units of buckets at GHe 140 per unit) Direct materials: (10,000 at GHe 0.50) Direct labour (4,000 hours @GHe 20per hour) Variable overheads (4,000 hours @GHe 2 per direct hour) 93,000 Budget contribution 47,000 Fixed overheads 20,000 Budgeted profit 27,000 The annual budgeted fixed overheads is GH€ 240,000 and are assume to be incurred evenly throughout the year.…
Question 1 QVC Company produces kitchen cabinets at its factory. The following relates to the production of the kitchen cabinets for the period ending December 2020. Production (units) Sales (units) Fixed production cost Fixed Selling overhead Budgeted Actual 75,000 80,000 72,500 77,500 $750,000 $781,250 $562,500 $562,500 The fixed production overhead was absorbed at a pre- determined rate per unit produced. Each kitchen cabinet was sold for $450. Required: At the beginning of January 2020, there was opening stock of 4,375 units valued at $262,500; this includes fixed production overhead of $43,750. c) Prepare the reconciliation statement as at December 31, 2020.
4.4 Prepare a direct labor budget for each of the upcoming five years. Labor = $8
Please do not give solution in image format thanku
Please do not give solution in image format thanku
A9
Q19 Winston Company had two products code named X and Y. The firm had the following budget for August: Product X Product Y Total Sales $ 266,000 $ 450,000 $ 716,000 Variable Costs 192,000 225,000 417,000 Contribution Margin $ 74,000 $ 225,000 $ 299,000 Fixed costs 50,000 108,000 158,000 Operating Income $ 24,000 $ 117,000 $ 141,000 Selling Price per unit $ 100 $ 50 On September 1, the following actual operating results for August were reported: Product X Product Y Total Sales $ 280,000 $ 470,000 $ 750,000 Variable Costs 154,000 188,000 342,000 Contribution Margin $ 126,000 $ 282,000 $ 408,000 Fixed costs 50,000 108,000 158,000 Operating Income $ 76,000 $ 174,000 $ 250,000 Units Sold 3,000 9,000 Total industry volume for both products X and Y was estimated to be 130,000 units at the time of the budget. Actual industry volume for the period for products X and Y was 100,000 units. The firm's market size variance for the period…
Please do not give solution in image format thanku
Please do not give solution in image format thanku
Current Attempt in Progress Carla Vista Company expects to produce 1,200,000 units of product XX in 2022. Monthly production is expected to range from 72,700 to 109,700 units. Budgeted variable manufacturing costs per unit are as follows: direct materials $4, direct labour $7, and overhead $10. Budgeted fixed manufacturing costs per unit for depreciation are $4 and for supervision $3. In March 2022, the company incurs the following costs in producing 91,200 units: direct materials $392,800, direct labour $634,400, and variable overhead $915,000. Actual fixed overhead equalled budgeted fixed overhead. Prepare a flexible budget report for March. (List variable costs before fixed costs.) $ $ Were costs controlled? Budget CARLA VISTA COMPANY Manufacturing Flexible Budget Report For the Month Ended March 31, 2022 V Actual Difference Favourable Unfavourable Neither Favourable nor Unfavourable