Assume a company's direct labor budget for July estimates 10,000 labor-hours to meet the month's production requirements. The variable manufacturing overhead rate used for budgeting purposes is $2.00 per direct labor-hour. The budgeted fixed manufacturing overhead for July is $60,000 including $8,000 of depreciation. What is the amount of budgeted cash disbursements for manufacturing overhead for July? Multiple Choice $78,000 $72,000 $80,000 $88,000

Assume a company's direct labor budget for July estimates 10,000 labor-hours to meet the month's production requirements. The variable manufacturing overhead rate used for budgeting purposes is $2.00 per direct labor-hour. The budgeted fixed manufacturing overhead for July is $60,000 including $8,000 of depreciation. What is the amount of budgeted cash disbursements for manufacturing overhead for July? Multiple Choice $78,000 $72,000 $80,000 $88,000

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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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…
Echo Amplifiers prepared the following sales budget for the first quarter of 2018: Jan. Feb. Mar. Units 900 1,300 1,400 Sales price $100 $100 $100 Budgeted sales $90,000 $130,000 $140,000 It also has this additional information related to its expenses: Direct material per unit $1.50 Direct labor per unit 2 Variable manufacturing overhead per hour 0.40 Fixed manufacturing overhead per month 3,000 Sales commissions per unit 16 Sales salaries per month 5,100 Delivery expense per unit 0.50 Factory utilities per month 4,000 Administrative salaries per month 20,000 Marketing expenses per month 7,000 Insurance expense per month 12,000 Depreciation expense per month 10,000 Prepare a sales and administrative expense budget for each month in the quarter ending March 31, 2018. Enter all amounts as positive numbers.
Consider Derek's budget information: materials to be used totals $62,400; direct labor totals $199,600; factory overhead totals $399,700; work in process inventory January 1 is $187,000; and work in progress inventory on December 31 is $194,000. The budgeted cost of goods manufactured for the year is a.$654,700 b.$661,700 c.$848,700 d.$194,000
Question Content Area At the beginning of the period, the Cutting Department budgeted direct labor of $131,000, direct materials of $151,000 and fixed factory overhead of $11,400 for 7,600 hours of production. The department actually completed 11,900 hours of production. The appropriate total budget for the department, assuming it uses flexible budgeting, is Round your final answer to the nearest dollar. Do not round interim calculations. a. $452,953 b. $299,850 c. $293,400 d. $459,403
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Consider Derk's budget information: materials to be used totals $62,100; direct labor totals $199,900; factory overhead totals $402,700; work in process inventory January 1, $188,800; and work in progress inventory on December 31, $194,100. What is the budgeted cost of goods manufactured for the year? a.$853,500 b.$664,700 c.$659,400 d.$194,100
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Haylock Incorporated bases its manufacturing overhead budget on budgeted direct labor-hours. The direct labor budget indicates that 8,300 direct labor-hours will be required in August. The variable overhead rate is $1.40 per direct labor-hour. The company's budgeted fixed manufacturing overhead is $100,320 per month, which includes depreciation of $9,030. All other fixed manufacturing overhead costs represent current cash flows. The August cash disbursements for manufacturing overhead on the manufacturing overhead budget should be: Multiple Choice $11,620 $102,910 $91,290 $111,940
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