A Company produces items to order and had the following budgeted overheads for the year onnormal activity levels.DepartmentAssemblyMachiningPaintingPackingLabour:Budgeted OverheadsSelling and administrative overheads are 10% of Factory Cost. The company received an orderfor 500 widgets, made as Batch 2024 and incurred the following costs.Assembly Dept:Machining Dept.Painting Dept.Packing Dept.Required:36.00086 00040 00030.000Overhead Absorption Base1500 per labour hours2.500 per machine hours1 800 per labour hours1000 per labour hours256 hours (2) $4.25 per hour904 hours $2.50 per hour180 hours) $3.25 per hour350 hours @ $5.25 per hourCalculate the OAR's for each department.Calculate the total cost of the Batch showing clearly:i. Prime Costii. Factory Costiii. Total Cost of the Batch

Name: A Company produces items to order and had the following budgeted over
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: A Company produces items to order and had the following budgeted overheads for the year onnormal activity levels.DepartmentAssemblyMachiningPaintingPackingLabour:Budgeted OverheadsSelling and administrative overheads are 10% of Factory Cost. The com

Lets understand the basics. Overhead absorption rate is a rate based on which overhead gets…

Business

Accounting

A Company produces items to order and had the following budgeted overheads for the year on normal activity levels. Department Assembly Machining Painting Packing Budgeted Overheads $ 36 000 86.000 40 000 30 000 Overhead Absorption Base 1 500 per labour hours 2 500 per machine hours 1 800 per labour hours 1 000 per labour hours Selling and administrative overheads are 10% of Factory Cost. The company received an order for 500 widgets, made as Batch 2024 and incurred the following costs:

A Company produces items to order and had the following budgeted overheads for the year on normal activity levels. Department Assembly Machining Painting Packing Budgeted Overheads $ 36 000 86.000 40 000 30 000 Overhead Absorption Base 1 500 per labour hours 2 500 per machine hours 1 800 per labour hours 1 000 per labour hours Selling and administrative overheads are 10% of Factory Cost. The company received an order for 500 widgets, made as Batch 2024 and incurred the following costs:

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

Paradise Company manufactures toy airplanes. Information on Paradise Company's labor costs follow: Sales Commission $5 per plane administration $10,000 per month indirect factory labor $3 per plane direct factory labor $5 per plane budgeted production for July 1200 units budgeted sales for July 1000 units What amount would appear in the July selling, general, & administrative expense budget?
answer in text form please (without image)
Please help me to solve this problem
Main Company has two service departments, Factory administration and Maintenance, and two operating departments, Cutting and Assembly. Selected budgeted information relating to these departments for the next year of operation is given below: Service department Operating Department Factory admin Maintenance Cutting Assembly Departmental costs R113 400 R80 000 R700 000 R600 000 Number of employees 3 5 40 60 Total labour hours 4 000 6 000 80 000 120 000 The company allocates service department costs by the step method. Factory administration costs are allocated first on the basis of number of employees and then Maintenance costs are allocated on the basis of total labour hours. The total Maintenance costs allocated to the Cutting Department is closest to: A. R31 068 B. R34 160 C. R32 000 D. R51 240
oriole company provides financial consulting and has collected the following data for the nexts years budgeted activity for a lead consultant, the company employs time and materials pricing. consultants wages $95000 fringe benefits $12500 related overhead $17500 materials clerk wages$17000 fringe benefits $4500 related overhead $20000 profit margin per hour $20 profit margin on materials 33% total estimated consulting hours 5000 total estimated material costs $166000.... the material loading charge is?a)33% b)58% c)25% d)91%
Ceder Company has compiled the following data for the upcoming year: Sales are expected to be 16,000 units at $52 each. Each unit requires 4 pounds of direct materials at $2.40 per pound. Each unit requires 2.1 hours of direct labor at $13 per hour. Manufacturing overhead is $4.90 per unit. Beginning direct materials inventory is $5,400. Ending direct materials inventory is $6,950. Selling and administrative costs totaled $138,720. Determine Ceder's budgeted cost of goods sold. Complete Ceder's budgeted income statement.
Rockport Corporation uses the cost formula Y- $4,800+ $0.40X for the maintenance cost, where X is machine-hours. The August budget is based on 9,000 hours of planned machine time. Maintenance cost expected to be incurred during August is: O $4,800 O $8,400 O $3,600 O $1,200
Zhender Inc. manufactures hair brushes that sell at wholesale for $2.50 per unit. Budgeted production in both 2018 and 2019 was 4,600 units. There was no beginning inventory in 2018. The following data summarized the 2018 and 2019 operations: 2018 2019 Units sold 3,300 4,800 Units produced 4,600 4,600 Costs: Variable factory overhead per unit $ 0.65 $ 0.65 Fixed factory overhead $ 1,978 $ 2,070 Variable marketing per unit $ 0.75 $ 0.80 Fixed Selling and Administrative $ 650 $ 650 Variable costing operating income for 2019 is calculated to be: (Do not round intermediate calculations. Round your final answers
Hartley Uniforms produces uniforms. The company allocates manufacturing overhead based on the machine hours each job uses. Hartley Uniforms reports the following cost data for the past year: Budget Actual 7,600 hours 6,100 hours Direct labor hours Machine hours 7,200 hours 6,300 hours Depreciation on salespeople's autos $23,000 $23,000 Indirect materials $48,500 $50,500 Depreciation on trucks used to deliver uniforms to customers solla $13,000 $70,000 $40,000 $11,000 Depreciation on plant and equipment Indirect manufacturing labor $72,500 $42,000 Customer service hotline $19,000 $21,000 Plant utilities $35,900 $38,400 Direct labor cost $72,500 $85,500 Requirements 1odel tba 1. Compute the predetermined manufacturing overhead rate. 2. Calculate the allocated manufacturing overhead for the past year. 3. Compute the underallocated or overallocated manufacturing overhead. How will this underallocated or overallocated manufacturing overhead be disposed of? 4. How can managers usA acco
Waterway Industries has the following budgeted costs for the next year: Time Charges Material Charges Shop employees’ wages and benefits $120000 $ - Parts manager’s salary and benefits - 50000 Office employee’s salary and benefits 45000 15000 Other overhead 15000 40000 Invoice cost of parts and materials - 454000 Total budgeted costs $180000 $559000 Next year’s material loading charge, assuming a 30% markup on material cost is 48.78%. 53.00%. 30.00%. 18.78%. do not give solution in image
Over and Under, Inc. manufactures weaving looms. Before the period began, the company prepared the following manufacturing overhead budget for an expected activity level of 15,000 direct labor hours (DL hrs): Variable Manufacturing Overhead Costs $322,500 Fixed Manufacturing Overhead Costs $205,000 By the end of the period, the company noted that 3,000 fewer direct labor hours were logged than expected. The total actual manufacturing overhead costs incurred during the period was $545,000, of which, $325,000 was fixed. Which of the following statements is incorrect for the above data? A. The total volume variance can be calculated by multiplying the unit variable cost by the difference between the expected DL hrs and the actual DL hrs. B. The master budget variance related to fixed manufacturing overhead costs for the period equals $120,000. C. The volume variance for variable manufacturing overhead costs is favorable because fewer DL hrs were logged during production than expected. D.…