Vista Electronics, Inc., manufactures two different types of coils used in electric motors. In the fall of the current year, EricaBecker, the controller, compiled the following data.• Sales forecast for 20x0 (all units to be shipped in 20x0):ProductUnitsLight coilНeavy coil52,00032,000Price$ 220320Raw-material prices and inventory levels:Expected Inventories,January 1, 20x030,000 lb.27,000 lb.5,200 unitsDesired Inventories,December 31, 20x034,000 lb.30,000 lb.6,200 unitsAnticipatedPurchase PriceRaw MaterialSheet metal$ 148Copper wirePlatform4• Use of raw material:Amount Used per UnitНeavy Coil6 lb.4 lb.2 unitRaw MaterialSheet metalLight Coil5 lb.3 lb.Copper wirePlatform• Direct-labor requirements and rates:ProductHours per UnitLight coilНeavy coilRate per Hour$ 10157Finished-goods inventories (in units):ExpectedJanuary 1, 20x017,0009,500DesiredProductLight coilНeavy coilDecember 31, 20x022,00010,500 Light coilНeavy coil$ 101557• Finished-goods inventories (in units):ExpectedJanuary 1, 20x017,0009,500DesiredDecember 31, 20x022,00010,500ProductLight coilНeavy coil• Production overhead:Overhead Cost ItemActivity-Based Budget RatePurchasing and material handlingDepreciation, utilities, and inspectionShippingGeneral production overhead$0.80 per pound of sheet metal and copper wire purchased$7.00 per coil produced (either type)$1.00 per coil shipped (either type)$5.00 per direct-labor hourProblem 9-39 Part 66. Prepare the production-overhead budget (in dollars) for 20xO. (Round "Cost Driver Rate" to 2 decimal places.)Production Overhead Budget for 20x0Cost DriverCost DriverBudgeted CostQuantityRatePurchasing and material handlingIb.Depreciation, utilities, and inspectioncoilsShippingcoilsGeneral production overheadhr.Total production overhead$

Production Overhead Budget: Production Overhead Budget is also known as Manufacturing Overhead…

6. Prepare the production-overhead budget (in dollars) for 20x0. (Round "Cost Driver Production Overhead Budget for 20x0 Cost Driver Cost Driver Budgeted Cost Quantity Ib. Rate Purchasing and material handling coils coils Depreciation, utilities, and inspection Shipping General production overhead hr. Total production overhead $

6. Prepare the production-overhead budget (in dollars) for 20x0. (Round "Cost Driver Production Overhead Budget for 20x0 Cost Driver Cost Driver Budgeted Cost Quantity Ib. Rate Purchasing and material handling coils coils Depreciation, utilities, and inspection Shipping General production overhead hr. Total production overhead $

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

Direct Labor Actual Data: Units produced Direct Labor Standard Cost Data per 1 Unit Quantity Price 2 hrs $41/hr SHOW ALL COMPUTATIONS. 20 units 39 hrs; total cost $1560 Compute rate variance, efficiency variance, direct labor variance
4. Running Shorts Co. makes two products: A and B. In the folding department, budgeted information is as follows: Budgeted indirect labor costs in the workshop: $150,000 Budgeted depreciation expenses of equipment: $50,000 Budgeted direct labor costs: $100,000 Budgeted units produced: 50,000 The company allocates indirect labor costs based on direct labor costs and allocates depreciation expenses of equipment based on units produced. The actual direct labor costs for product A are $60,000 and 40,000 units of product A are produced. How much is the manufacturing overhead of product A in the folding department? 120,000 90,000 130,000 40,000
Paragraph Styles Question 1: WPC Company's Budget and actual costs per unit are provided below for the most recent period. During this period, 700 units were actually produced. Product Product Standard Cost Actual Cost Materials Unit Price Per Metre $2.00 $2.20 Metres Standard $10.00 Actual 5.2 $11.44 Direct labour Hours Hourly Rate $50 $5.50 Standard 3. $15.00 Actual 3.2 $17.60 Variable overhead Hours Hourly Rate Standard 4 $3.00 $12.00 $3.10 $13.02 Actual 4.2 Total unit cost $37.00 $42.06 Required: Given the information above, compute the following variances. Also indicate if the variances are favorable or unfavorable.
Please do not give solution in image format thanku
A partial responsibility accounting report for a cost center is below. The value of letter (c) would be: Over (Under) Budget Controllable Costs Budgeted Actual Direct materials.... $52,800 $ a Direct labor....... 24,000 26,000 Utilities 19,200 C Totals... $96,000 $96,600 A $19,000 B $19,400 C) $54,000 D) $2,000 E None of the above $(1,200) b (200) $ 600
#3 Required information [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard Quantity and Cost 6 pounds @ $9 per pound 2 DLH @ $17 per DLH 2 DLH @ $12 per DLH Total budgeted (standard) cost Actual Results (1) Prepare the standard cost card showing standard cost per unit. (2) Compute total budgeted cost for June production. (3) Compute total actual cost for June production. (4) Compute total cost variance for June.
X Company's 2021 budgeted cost function for fixed overhead was C=$211,800. Its budgeted cost function for variable overhead was C=$11.8ox, where X the number of units produced. The following information is also available for 2021: Master Actual Budget Results Production 10,100 units 11,500 units Total variable costs $119,180 $134,185 Total fixed costs $211,800 $213,544 1. What was the total overhead master (static) budget for 2021? 2. What was the total overhead flexible budget for 2021?
Refer to the pictur ebelow: Find: 1. Total Cost of Product A under ABC System2. Total Cost of Product B under ABC System3. Selling Price per unit of Product B assuming profit margin of 20% above cost
Do not give image format
Costing information for Emily Elephant Limited is as follows:Direct material cost per unitDirect labour cost per unitVariable manufacturing overhead cost per unitVariable selling and administrative overhead cost per unitFixed manufacturing overhead for the year£41 £43£6£4£44,000Budgeted production for the year was 4,000 units. What is the budgeted unit product cost according to an absorption costing system? a. £90 b. £101 c. £105d. £94
Need the what to do from 1-4
Q1. Prepare a Flexible budget for overheads on the basis of the following data. Ascertain the overhead rates at 70% and 80% capacity. Variable Overheads (60% capacity) Indirect Material = Rs. 6,000 Labour Rs. 18,000 Semi-variable overheads: Electricity (40% fixed) = Rs. 40,000 Repairs (80% fixed) = Rs. 2,400 Fixed Overheads: Depreciation Rs. 16,500 = Insurance = Rs. 4,500 Salaries= Rs. 20,000 Estimated Labour Hours 15,000 hrs = E