If it takes two direct labor hours to produce each unit and Alpha CD's cost per labor hour is P15, direct labor cost for August would be budgeted at: Alpha CD manufactures a product requiring 0.5 ounces of platinum per unit. The cost ofplatinum is approximately P360 per ounce; the company maintains an ending platinum inventoryequal to 10% of the following month's production usage. The following data were taken from themost recent quarterly production budget:July1,000August1,100September980Planned production in units

The question is related to Budgetory Control. The details are given. In the given question two…

Answered: Alpha CD manufactures a product…

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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Cold X, Inc. uses this information when preparing their flexible budget: direct materials of $2 per unit, direct labor of $3 per unit, and manufacturing overhead of $1 per unit. Fixed costs are $35,000. What would be the budgeted amounts for 20,000 and 25,000 units?
Packaging Solutions Corporation manufactures and sells a wide variety of packaging products. Performance reports are prepared monthly for each department. The planning budget and flexible budget for the Production Department are based on the following formulas, where qis the number of labor-hours worked in a month: Cost Formulas $16.60g $4, 200 + $1.60g $5,300 + $0.70g $1,700 + $0.30g $18,500 $2.90g $8, 300 $2,500 $13,100 + $0.80g Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory adeinistration The Production Department planned to work 4,100 labor-hours in March; however, it actually worked 3,900 labor-hours during the month. Its actual costs incurred in March are listed below: Direct labor Indirect labor Utilities Supplies Equipnent depreciation Factory rent Property taxes Factory administration Actual Cost Incurred in March $ 66,380 $ 9,940 $ 8,560 $ 3,140 $ 29,810 $ 8,700 $2,500 $ 15,610 Required: 1. Prepare the Production…
A project ABC is planned for 15 months with a budget (BAC) of USD 150,000. If the scheduled percent of work completed after three months is 20% and the actual work completion is 15%, Find the schedule variance and schedule performance index also conclude the project status that you will identify after calculating SV and SVI.
A. Parkson Limited has produced an overhead budget for next year based on two levels of activity, 5000 units and 8,000 units. It needs to calculate budgeted figures based on an activity level of 6,800 units. The budgeted figures for activity levels of 5000 and 8,000 are shown below: Parkson Limited. Budgeted Overheads for the year ending 31 December 2015 Production (Units) 5000 8000 Type of Cost $ $ Building rent Fixed 20,000 20,000 Building Depreciation Fixed 31,500 31,500 Indirect labour Variable 25,000 40,000 Indirect materials Variable 15,000 24,000 Electricity Semi-variable 30,000 36,000 Stock insurance Semi-variable 30,000 38,400 Total 151,500 189,900 Required:Calculate the budgeted cost for each of the six types of overheads at an activitylevel of 6,800 units giving consideration to the fact that some overheads are fixedcosts, some are variable and some are semi-variable.
the budget for abc company is 20,000 units of product z to be produced each month the standard cost of each month is as follows direct materials $450 direct labour $150 fixed overhead $300, the standard selling price is $15,00 actual sales 18,000, actual production as budget 20,000, determine the budgeted profit for the period using the marginal costing technique
The production manager of Rordan Corporation has submitted the following quarterly production forecast for the upcoming fiscal year: Units to be produced Each unit requires 0.75 direct labor-hours, and direct laborers are paid $16.00 per hour. 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 11,000 8,000 8,500 10,800 Required: 1. Prepare the company's direct labor budget for the upcoming fiscal year. (Round "Direct labor time per unit (hours)" answers to 2 decimal places.) Required production in units Direct labor time per unit (hours) Total direct labor-hours needed Direct labor cost per hour Total direct labor cost Rordan Corporation Direct Labor Budget 2nd Quarter 8,000 1st Quarter 11,000 8,250✔✔ Answer is not complete. $ 132,000 6,000 3rd Quarter 8,500 6,375 4th Quarter 10,800 S 96,000 $ 102,000 $ 8,100 129,600 Year
Draw up a material purchase budget from the following information: Use the givenformat.Estimated sales of a product is 50,000 units. Two kinds of raw materials A andB are required for manufacturing the product. Each unit of the product requires 3 units of A and 4units of B. The estimated opening balance in the beginning of the next year: finished goods 10,000units; A, 15,000 units; B, 20,000 units. The desirable closing balance at the end of the next year:finished product, 8,000 units; A, 10,000 units; B 12,000 units.
The production budget for Manner Company shows units to produce as follows: July, 630; August, 690; and September, 550. Each un produced requires three hours of direct labor. The direct labor rate is budgeted at $16 per hour in July and August, but is budgeted to be $16.75 per hour in September. Prepare a direct labor budget for the months July, August, and September. Units to produce Direct labor hours needed Cost of direct labor MANNER COMPANY Direct Labor Budget July August 630 690 September 550 units
Sunshine Dresses is preparing a flexible budget for the month of October, using a contribution margin format. Staff have completed the budget if 800 units of product are produced and sold. You must complete the budget if 1,000 units of product are produced and sold. You are given the following information for the flexible budget if 800 units of product are produced and sold: Sales = $64,000 Variable Costs = 12,000 Fixed Costs, regardless of sales level, = $50,000 You are asked to prepare the flexible budget if 1,000 units of product are produced and sold. What is the contribution margin at that level of sales? 2.Sunshine Dresses planned to use 2,000 yards of cotton costing $7 per yard to make 1,000 dresses. In actually making 1,000 dresses, the company used 1,800 yards that cost $8 per yard. Calculate the direct materials quantity variance. Specify dollars and cents. Be sure to specify if a negative or positive number. 3.Using the following information…

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