At the beginning of the period, the Cutting Department budgeted direct laborof $73,080 and supervisor salaries of $41,330 for 4,060 hours of production.The department actually completed 4,400 hours of production.Determine the budget for the department assuming that it uses flexiblebudgeting.120,530

Budget:Budget is an effective tool to achieve the financial and operational goals of the business.…

Answered: At the beginning of the period, the…

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 manufacturing overhead budget at Foshay Corporation is based on budgeted direct labor-hours. The direct labor budget indicates that 5,800 direct labor-hours will be required in May. The variable overhead rate is $9.10 per direct labor-hour. The company's budgeted fixed manufacturing overhead is $104,400 per month, which includes depreciation of $8,120. All other fixed manufacturing overhead costs represent current cash flows. The company recomputes its predetermined overhead rate every month. What should be the predetermined overhead rate for May?
At the beginning of the period, the Cutting Department budgeted direct labor of $128,000, direct materials of $163,000 and fixed factory overhead of $14,000 for 8,000 hours of production. The department actually completed 10,200 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. Oa. $385,025 Ob. $308,850 Oc. $388,875 Od. $305,000 ......
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XYZ Company is preparing its Manufacturing Overhead budget for the month of March. The budgeted variable manufacturing overhead is $9 per direct labor-hour. The budgeted fixed manufacturing overhead is $31,000 per month, which includes $5,000 of noncash costs (primarily depreciation of plant assets). If the budgeted direct labor-hours for March is 5,500. How much is the March's budgeted cash disbursements for manufacturing overhead? Select one: a. $80,500 O b. $81,000 O c. None of the given answers O d. $86,500 O e. $75,500
Haylock Inc. bases its manufacturing overhead budget on budgeted direct labor-hours. The direct labor budget indicates that 7,100 direct labor-hours will be required in August. The variable overhead rate is $1.90 per direct labor-hour. The company's budgeted fixed manufacturing overhead is $100,370 per month, which includes depreciation of $8.980. 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 Cholce $9.390 $104.880 $13,860 $13,490
Ellington, SRL is developing their manufacturing overhead budget for February, which is based on budgeted direct labor hours. The variable overhead rate is $16.40 per direct labor hour and 7,900 direct labor hours are budgeted for February. Fixed manufacturing overhead is budgeted at $67,000. All overhead costs are current cash flows except for $10,720 of depreciation. What should the manufacturing overhead budget indicate for cash disbursements for manufacturing overhead for the month of February?
The master budget at Cherrylawn Corporation at the beginning of the year was based on sales of 279,000 units with revenues of $3,348,000. Total variable costs were budgeted at $1,953,000 and fixed costs at $966,000. During the period, actual production and actual sales were 255,800 units. The actual revenues were $3,446,500. Actual variable costs were $6.10 per unit. Actual fixed costs were $996,000. Required: Prepare a profit variance analysis. Note: Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. Sales revenue Less: Variable costs Contribution margin Less: Fixed costs Operating profits $ $ Actual 0 0 Manufacturing Variances Cherrylawn Corporation Profit Variance Analysis Sales Price Variance Flexible Budget $ $ 0 Sales Activity Variance Master Budget $ $ 0 0
At the beginning of the period, the Cutting Department budgeted direct labor of $65,940 and supervisor salaries of $21,160 for 4,710 hours of production. The department actually completed 5,100 hours of production. Determine the budget for the department assuming that it uses flexible budgeting. $fill in the blank 1
At the beginning of the period, the Cutting Department budgeted direct labor of $139,000, direct materials of $169,000 and fixed factory overhead of $13,400 for 7,400 hours of production. The department actually completed 11,300 hours of production. What is the appropriate total budget for the department, assuming it uses flexible budgeting? Round hourly rates to two decimal places. Round interim calculations to two decimal places. Round your final answer to the nearest dollar. a.$490,786 b.$483,706 c.$321,400 d.$328,462
At the beginning of the period, the Cutting Department budgeted direct labor of $128,000, direct materials of $163,000 and fixed factory overhead of $14,000 for 8,000 hours of production. The department actually completed 10,200 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. Oa. $385,025 Ob. $308,850 Oc. $388,875 Od. $305,000 ......
PREKID ouogeping At the beginning of the period, the Fabricating Department budgeted direct labor of $120,400 and equipment depreciation of $45,000 for 8,600 hours of production. The department actually completed 10,800 hours of production. Determine the budget for the department, assuming that it uses flexible budgeting.
1.-At the beginning of the period, the Fabricating Department budgeted direct labor of $39,600 and equipment depreciation of $61,000 for 1,800 hours of production. The department actually completed 2,400 hours of production. Determine the budget for the department, assuming that it uses flexible budgeting.

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