Assume a company's budgeted unit sales and its required production in units for July are 80.000 units and 78.000 units, respectively. The budgeted direct labor wage rate is $16.50 per hour. The company's total budgeted direct labor cost for July is $1.608.750. What is the budgeted direct labor-hours required per unit? Mutiple Choice Ο Ο Ο Ο 1991998 132 hours 122 12-18 1.25 hours

Assume a company's budgeted unit sales and its required production in units for July are 80.000 units and 78.000 units, respectively. The budgeted direct labor wage rate is $16.50 per hour. The company's total budgeted direct labor cost for July is $1.608.750. What is the budgeted direct labor-hours required per unit? Mutiple Choice Ο Ο Ο Ο 1991998 132 hours 122 12-18 1.25 hours

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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es Required information [The following information applies to the questions displayed below.] Adger Corporation is a service company that measures its output based on the number of customers served. The company provided the following fixed and variable cost estimates for budgeting purposes and the actual results for May as shown below. Revenue Employee salaries and wages Travel expenses Other expenses Fixed Element per Month $ 50,000 $ 36,000 Variable Element per Customer Served $ 5,000 $ 1,100 Actual Total for May $ 160,000 $ 88,000 $ 600 $ 19,000 $ 34,500 When preparing its planning budget, the company estimated it would serve 30 customers per month; however, during May the company actually served 35 customers. Required: 1. What amount of revenue would be included in Adger's flexible budget for May?
1. The amount of fixed factory costs applied to product during the first 6 months under absorption costing is? 2. Reported net income (or loss) for the first 6 months under absorption costing is? 3. Reported net income (or loss) for the first 6 months under variable costing is?
Answer both/all
Prepare a direct labor budget for each of the upcoming five years. Cost labor per unit = $8 Total direct labor hours needed for a period = Number of units to be produced in that period * Direct labors hours needed per unit Total direct labor costs needed to meet production =Total direct labor hours needed for that period * Direct labor cost per hour
The production supervisor of the Machining Department for Celtic Company agreed to the following monthly static budget for the upcoming year: Celtic Company Machining Department Monthly Production Budget Wages $290,000 Utilities 14,000 Depreciation 23,000 Total $327,000 The actual amount spent and the actual units produced in the first three months in the Machining Department were as follows: Amount Units Spent Produced January $308,000 70,000 February 290,000 63,000 March 277,000 57,000 The Machining Department supervisor has been very pleased with this performance because actual expenditures for January-March have been less than the monthly static budget of $327,000. However, the plant manager believes that the budget should not remain fixed for every month but should "flex" or adjust to the volume of work that is produced in the Machining Department. Additional budget information for the Machining Department is as follows: Wages per hour $19.00 Utility cost per direct labor hour…
Discussion QuestionThe table below shows monthly data collected on production costs and on the number of unitsproduced over a twelve month period.Month Total ProductionCostsLevel of Activity(Units Produced)July $230,000 3,500August 250,000 3,750September 260,000 3,800October 220,000 3,400November 340,000 5,800December 330,000 5,500January 200,000 2,900February 210,000 3,300March 240,000 3,600April 380,000 5,900May 350,000 5,600June 290,000 5,000a) Determine the variable cost per unit and the fixed cost using the high-low method.b) What is the equation of the total mixed cost function?c) Based on the High-Low method, what is the total production costs if 6,500 units areproduced?d) Prepare the scatter diagram and insert the trendline or line of best-fit. Use a scale of 2cm to represent 1,000 units on the x-axis & 2 cm to represent $50,000 on the yaxis.e) Using the line of best-fit, determine the company’s fixed cost per month and the variablecost per unit. (Use 0 & 5,000…
Pendennis plc had the following budget and actual figures for Product ZN6 during April: Output Sales revenue Raw materials Labour Fixed overheads Profit Budget A. £12,500 favourable B. £13,000 adverse C. £13,000 favourable D. £12,500 adverse 2,200 units £ 205,000 (98,800) 28,000 metres (65,000) 13,000 hours (21,400) 19,800 What is the direct labour rate variance for Product ZN6 for the month of April? Actual £ 176,000 (77,000) 22,000 metres (66,000) 11,000 hours (24,200) 8,800 2,500 units
TB MC Qu. 04-97 (Algo) Kay Company budgets overhead... Kay Company budgets overhead cost of $3,645,000 for the next year. The company uses direct labor hours as its overhead allocation base. If hours are planned for the next year, how much overhead would be assigned to a product requiring 4 direct labor hours? Multiple Choice $45.00 $35.00 $180.00 $140.00
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