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

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Difference A company has numerous products and currently absorbs its production overheads based on labour hours; it has the following information: G H All products Budget (units) 2,400 3,000 Labour hours (£10/ hour) 1 hour 0.2 hours 1,000,000 Material cost / unit £2.00 £3.50 Material requisitions 4 8 4,000 Number of batches 6 3 10,000 Overheads are budgeted as £2,500,000 for production set-up related and £1,200,000 for materials handling and storage related. Required: Calculate the unit cost for products G and H if the company was to adopt activity based costing and comment on the difference.
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