Andrews Manufacturing Co. budgeted a production of 80,000 desks in 2024. Each desk requires assembly. Assume that six minutes are required to assemble each desk. If assembly labour costs $16 per hour, determine the direct labour cost budget for 2024.
Q: I need answer of this question solution general accounting
A: Step 1: Define Net PurchasesNet purchases refer to the amount of merchandise purchased, which is net…
Q: Equipment was acquired on January 1, 2024 at a cost of $97,500. The equipment was originally…
A: Step 1: Annual depreciation expense Annual depreciation expense = (Original cost - Residual…
Q: Need help with this question solution general accounting
A: Step 1: Define Direct Materials BudgetThe direct materials budget includes the company's budgeted…
Q: answer
A: Explanation of Contribution Margin Ratio:The contribution margin ratio represents the percentage of…
Q: I need this question financial accounting
A: To compute the percentage total return, we use the formula: Total Return (%)=Initial…
Q: Financial accounting
A: Step 1: Define MarkupThe concept of markup, in business and economics, is the amount of money that…
Q: Hans Martin, president of Martin Corporation, believes that it is a good practice for a company to…
A: Payout ratio is the ratio of profit earned and attributable to common shareholders in a period to…
Q: Determine the PE ratio on these general accounting question
A: Step 1: Define P/E RatioThe P/E ratio is the ratio of price per share to earnings per share. This is…
Q: Please provide answer the accounting question
A: Step 1: Annual depreciation expense Annual depreciation expense = (Original cost - Residual…
Q: Tagline is general account query
A: To determine the increase in the Lower of Cost or Market (LCM) reserve, we compare the inventory…
Q: Hy expert please given correct answer general accounting
A: The reorder point (R) is the level of inventory at which a new order should be placed to replenish…
Q: Hello tutor please provide this question solution general accounting
A: Step 1: Define Shareholders' equityStockholders Equity is a balance-sheet account that consists of…
Q: How much does he need before tax on this financial accounting question?
A: Step 1: Identify the after-tax income requiredStep 2: Determine the average tax rateStep 3: Use the…
Q: Financial accounting
A: Step 1: Introduction to time value of moneyTime value of money is a financial concept which is used…
Q: Give me right solutions
A: Q1. When should cross-dimensional analysis replace single-focus review?Cross-dimensional analysis is…
Q: Solve this accounting questions
A: Step 1: Define Net IncomeCompanies assess the net income of their projects to check the actual…
Q: Help
A: Operational synchronization is extremely important when it comes to timing of measurement,…
Q: Need Answer
A: Cross-dimensional analysis should replace single-focus review when "Interrelated factors demand…
Q: How much is the over or under applied overhead on these general accounting question
A: Step 1: Define Manufacturing OverheadActivity-based costing and predetermined overhead rates are…
Q: What is the capital structure weight of the firm's equity if the firm's tax rate is 35 percent on…
A: Here's how to calculate the capital structure weight of the firm's equity:1. Understand the…
Q: Hello tutor please provide this question solution general accounting
A: Step 1: Define Straight-line Depreciation MethodThe straight-line depreciation method allocates the…
Q: Blazer corporation had provided correct answer general accounting
A: Step 1: Define Rate of ReturnThe rate of return shows the net income generated as a percent of…
Q: Question 9 financial accounting
A: Explanation of Integrated Control Frameworks:Integrated control frameworks involve the systematic…
Q: Need help with this question solution general accounting
A: Step 1:First, calculate the book value of equity: Book value of equity = Number of shares…
Q: General Account Questions
A: Step 1:Cost minimization is the process by which a firm seeks to produce a given level of output at…
Q: General Account
A: To calculate Free Cash Flow (FCF), we use the following formula:FCF=EBIT(1-T)−Net Capital…
Q: Given answer accounting questions
A: The $5,100 rebate is not used to lower the sticker price because the problem stated 0% APR financing…
Q: Following is a list of account balances solution this accounting questions
A: Step 1: Define Current LiabilitiesThe liabilities have credit balances and are shown against the…
Q: Hey tutor answer these general accounting question not use ai
A: Step 1: Define Operating CycleThe operating cycle represents the sum of the average collection…
Q: None
A: a. Selling Price for Tax Purposes:• Step 1: Determine the selling price for tax purposesb.…
Q: General accounting
A: Step 1: Define Direct Labor BudgetThe direct labor budget is part of the master budget and it is…
Q: Jupiter explorer has $10600 in sales solve this accounting questions
A: Step 1: Define Price-Earnings RatioThe valuation of a firm may be carried out by using…
Q: Please given answer general account question
A: Step 1: Define Gross ProfitGross Profit is computed by deducting the cost to produced the units sold…
Q: What is the company's average collection period on these general accounting question?
A: Step 1: Define Average Collection PeriodThe number of days that are talked to convert the credit…
Q: Hello teacher please help me Accounting question
A: Step 1: Identify the given valuesStep 2: Use the Ending Accounts Receivable formulaStep 3: Rearrange…
Q: I don't need ai answer accounting questions
A: Step 1: Definition of Average Collection Period (ACP)The average collection period measures how long…
Q: Answer the financial accounting problem
A: Explanation of Business Interruption Insurance:Business interruption insurance provides coverage to…
Q: Hi expert please give me answer general accounting
A:
Q: Provide answer this general accounting question
A: Step 1: Define VATVAT known as value-added tax is a type of indirect tax levied on goods and…
Q: cost account solution want asap
A: Step 1: Introduction to cost accountingThe field of accounting known as cost accounting is utilized…
Q: General accounting question
A: Step 1: Net Income can be calculated by preparing the income statement of the firm.First Earnings…
Q: Please given answer general accounting
A: Step 1: Define Capital GainCapital gain is an appreciation in asset's market value over periods.…
Q: Please provide correct answer financial accounting not use chart gpt
A: Step 1: Define Interest RateThe percentage of interest that a lender charges a borrower on the…
Q: Shelby Industries is ready to launch next year's model of their best selling product. Unfortunately,…
A: I hope you are finding the material engaging and informative. If you have any questions or…
Q: Give true answer
A: Step 1: Define StocksThe Stocks are the portion of the authorized capital made available to the…
Q: Cost Account Questions Answer Want
A: To compute the lower of cost or market (LCM) for each product in the inventory of Martinez Company…
Q: true and best answer wanted. subj. Account
A: Step 1: Identify Taxable and Non-Taxable IncomeGross Profits on Sales: $660,000Fully taxable as…
Q: PLEASE HELP!!!
A: Purchase Price: Cash paid = $260,500 Note payable = $117,000 Total purchase price = $377,500 Fair…
Q: Provide correct answer the financial accounting question not use ai
A: Step 1:Calculate the coupon payment received by an investor: Coupon payment = Face value * Rate of…
Q: Financial Account - In the current year, Ed invests $30,000 in an oil partnership. He has taxable…
A: Calculating Ed's At-Risk Amount at the End of the YearThe at-risk amount reflects the total…
Get correct answer general accounting
Step by step
Solved in 2 steps
- Colonels uses a traditional cost system and estimates next years overhead will be $480,000, with the estimated cost driver of 240,000 direct labor hours. It manufactures three products and estimates these costs: If the labor rate is $25 per hour, what is the per-unit cost of each product?Bobcat uses a traditional cost system and estimates next years overhead will be $800.000, as driven by the estimated 25,000 direct labor hours. It manufactures three products and estimates the following costs: If the labor rate is $30 per hour, what is the per-unit cost of each product?Patterson Corporation expects to incur 70,000 of factory overhead and 60,000 of general and administrative costs next year. Direct labor costs at 5 per hour are expected to total 50,000. If factory overhead is to be applied per direct labor hour, how much overhead will be applied to a job incurring 20 hours of direct labor? a. 120 b. 260 c. 28 d. 140
- Sunrise Poles manufactures hiking poles and is planning on producing 4,000 units in March and 3,700 in April. Each pole requires a half pound of material, which costs $1.20 per pound. The companys policy is to have enough material on hand to equal 10% of the next months production needs and to maintain a finished goods inventory equal to 25% of the next months production needs. What is the budgeted cost of purchases for March?Sheffield, Inc. is planning to produce 2,560 units of product in 2022. Each unit requires 3 pounds of materials at $6 per pound and a half hour of labor at $16 per hour. The overhead rate is 75% of direct labor. (a) Your answer has been saved. See score details after the due date. Compute the budgeted amounts for 2022 for direct materials to be used, direct labor, and applied overhead. Direct Materials $ (b) Direct Labor Overhead Standard Cost Save for Later $ $ $ 46080 Compute the standard cost of one unit of product. (Round answer to 2 decimal places, e.g. 52.75.) 20480 15360 Attempts: 1 of 1 used Attempts: 0 of 1 used Submit AnswerScotch Brand Products produces packaging tape and has determined the following to be its standard cost of producing one case of budget packaging tape: Material (3.50 ounces at $1.30 per ounce) $4.55 Labor (0.30 hour at $12.00 per hour) 3.60 Overhead 2.40 Total $10.55 At the start of 2021, Scotch Brand planned to produce 80,000 cases of tape during the year. Overhead is allocated based on the number of cases of tape produced. Annual fixed overhead is budgeted at $64,000 and the variable overhead costs are budgeted at $1.60 per case. The following information summarizes the results for 2021: Actual production, 81,000 cases Purchased 275,000 ounces of material at a total cost of $343,750 Used 266,250 ounces of material in production Employees worked 22,000 hours, total labor cost $275,000 Actual overhead incurred,…
- Scotch Brand Products produces packaging tape and has determined the following to be its standard cost of producing one case of budget packaging tape: Material (3.50 ounces at $1.30 per ounce) $4.55 Labor (0.30 hour at $12.00 per hour) 3.60 Overhead 2.70 Total $10.85 At the start of 2021, Scotch Brand planned to produce 20,000 cases of tape during the year. Overhead is allocated based on the number of cases of tape produced. Annual fixed overhead is budgeted at $18,000 and the variable overhead costs are budgeted at $1.80 per case. The following information summarizes the results for 2021: Actual production, 21,000 cases Purchased 275,000 ounces of material at a total cost of $343,750 Used 266,250 ounces of material in production Employees worked 22,000 hours, total labor cost $275,000 Actual overhead incurred,…Shalom Company prepared its 2023 manufacturing overhead budget to produce Product Peace. Variable overhead costs per direct labor hour are Indirect materials, P3; Indirect labor, P15; Maintenance, P2. Fixed costs totaled P68,000 composed of Supervisor's salaries, P36,000; Depreciation, P20,000; Maintenance, P12,000. Producing each unit requires 2 direct labor hours. Shalom Company estimates that units to be produced for each quarter are 3,000, 3,600, 4,000, and 6,000, respectively. Amounts must be in whole numbers. Example: 88,000 or (88,000) How much is the total manufacturing overhead budget?Shalom Company prepared its 2023 manufacturing overhead budget to produce Product Peace. Variable overhead costs per direct labor hour are Indirect materials, P3; Indirect labor, P15; Maintenance, P2. Fixed costs totaled P68,000 composed of Supervisor's salaries, P36,000; Depreciation, P20,000; Maintenance, P12,000. Producing each unit requires 2 direct labor hours. Shalom Company estimates that units to be produced for each quarter are 3,000, 3,600, 4,000, and 6,000, respectively. Amounts must be in whole numbers. Example: 88,000 or (88,000) How much is the total manufacturing overhead budget? Cash payments in quarter 3
- Next month, Stein expects to use 400 machine hours, have 80 employees, and ship 9,000 units. Estimate the total operating cost for the month.Oriole Company expects to produce 1,260,000 units of product XX in 2022. Monthly production is expected to range from 80,500 to 128,300 units. Budgeted variable manufacturing costs per unit are as follows: direct materials $4, direct labour $7, and overhead $9. Budgeted fixed manufacturing costs per unit for depreciation are $5 and for supervision $2. In March 2022, the company incurs the following costs in producing 104,400 units: direct materials $444,600, direct labour $726,800, and variable overhead $947,600. Actual fixed overhead equalled budgeted fixed overhead. Prepare a flexible budget report for March. (List variable costs before fixed costs.).Oriole Company expects to produce 1,260,000 units of product XX in 2022. Monthly production is expected to range from 79,600 to 113,000 units. Budgeted variable manufacturing costs per unit are as follows: direct materials $5, direct labour $7, and overhead $11. Budgeted fixed manufacturing costs per unit for depreciation are $6 and for supervision $1. In March 2022, the company incurs the following costs in producing 96,300 units: direct materials $511,500, direct labour $665,100, and variable overhead $1,065,300. Actual fixed overhead equalled budgeted fixed overhead. Prepare a flexible budget report for March. (List variable costs before fixed costs.) ORIOLE COMPANY Manufacturing Flexible Budget Report For the Month Ended March 31, 2022