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
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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

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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

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Cabinare Inc. Is one of the largest manufacturers of office furniture in the United States. In Grand Rapids Michigan and assembles filing cabinets in a assembly Department. Assume following nformation for the assembly departments: Direct labor per filing cabinets 30 min Supervisor salaries $132,000 per month Depreciation $24,000 per month Direct labor rate $21 per hr. Prepare a flexible budget for 13,000,16,000,and 20,000 filing cabinets for the month ending February 28 in assembly departments similar to exhibit 5 Round your final answer to the whole dollar, if required.
Tiger Equipment Inc., a manufacturer of construction equipment, prepared the following factory overhead cost budget for the Welding Department for May of the current year. The company expected to operate the department at 100% of normal capacity of 6,200 hours. Variable costs: Indirect factory wages $20,460 Power and light 13,826 Indirect materials 11,346 Total variable cost $45,632 Fixed costs: Supervisory salaries $10,410 Depreciation of plant and equipment 26,700 Insurance and property taxes 8,150 Total fixed cost 45,260 Total factory overhead cost $90,892 During May, the department operated at 6,600 standard hours. The factory overhead costs incurred were indirect factory wages, $22,000; power and light, $14,450; indirect materials, $12,300; supervisory salaries, $10,410; depreciation of plant and equipment, $26,700; and insurance and property taxes, $8,150. Required: Prepare a factory overhead cost…
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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%
please answer all requirements with explanation , computation , formulation and steps thanks for help in advance The total factory overhead for Bardot Marine Company is budgeted for the year at $600,000 divided into two departments: Fabrication, $420,000, and Assembly, $180,000. Bardot Marine manufactures two types of boats: speedboats and bass boats. The speedboats require 8 direct labor hours (dlh) in Fabrication and 4 direct labor hours in Assembly. The bass boats require 4 direct labor hours in Fabrication and 8 direct labor hours in Assembly. Each product is budgeted for 250 units of production for the year. A. Determine the total number of budgeted direct labor hours for the year in each department. Fabrication direct labor hours Assembly direct labor hours B. Determine the departmental factory overhead rates for both departments. When required, round all per-unit answers to the nearest cent. Fabrication per dlh Assembly per dlh C. Determine the factory…
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Through November, Cameron has received gross income of $120,000. For December, Cameron is considering whether to accept one more work engagement for the year. Engagement 1 will generate $7,000 of revenue at a cost to Cameron of $3,000, which is deductible for AGI. In contrast, engagement 2 will generate $5,000 of qualified business income (QBI), which is eligible for the 20 percent QBI deduction. Cameron files as a single taxpayer, and he did not contribute to charity during the year. Calculate Cameron's taxable income assuming he chooses engagement 1 and assuming he chooses engagement 2. Assume he has no itemized deductions.
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