Budget for january, Variable costs: Indirect Material (5 TL per DL hour) 5,000 Indirect Labor (4 TL per DL hour) 4,000 Maintenance (1 TL per DL hour) 1,000 Utilities (0,5 TL per DL hour) 500 10,500 Fixed costs: Supervisory 2,000 Depreciation 2,000 Rent 1,000 Insurance 500 5,500 Total MOH Costs 16,000 Red Rose Company planned to produce 4,000 boxes of Red Rose Delights in January 2022. Each box require minutes of direct labour (1/4 DL hour). Managerial accountant prepared the MOH budget for January (prese above). Actual production was 3,600 boxes and fixed overhead costs were exactly the same, however actual variabl overhead costs are: indirect material 4,900 TL; indirect labor 3,400 TL; maintenance 1,100 TL; utilities 550 TL Supervisor can control all costs other than supervisory, depreciation and insurance. Prepare a flexible manufacturing overhead budget with 200 DL-hour increments. The rele ange is 200 D L bours and 1200 DI be urs

Budget for january, Variable costs: Indirect Material (5 TL per DL hour) 5,000 Indirect Labor (4 TL per DL hour) 4,000 Maintenance (1 TL per DL hour) 1,000 Utilities (0,5 TL per DL hour) 500 10,500 Fixed costs: Supervisory 2,000 Depreciation 2,000 Rent 1,000 Insurance 500 5,500 Total MOH Costs 16,000 Red Rose Company planned to produce 4,000 boxes of Red Rose Delights in January 2022. Each box require minutes of direct labour (1/4 DL hour). Managerial accountant prepared the MOH budget for January (prese above). Actual production was 3,600 boxes and fixed overhead costs were exactly the same, however actual variabl overhead costs are: indirect material 4,900 TL; indirect labor 3,400 TL; maintenance 1,100 TL; utilities 550 TL Supervisor can control all costs other than supervisory, depreciation and insurance. Prepare a flexible manufacturing overhead budget with 200 DL-hour increments. The rele ange is 200 D L bours and 1200 DI be urs

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Y Limited produces one product. Budgeted units produced and sold for the month of July were 1000. Further budgeted information for July was also available. $ Sales 250 000 Direct material ($12 per kilo) (60 000) (100 000) Direct labour ($25 per labour hour) Fixed overhead (24 000) Budgeted profit 66 000 Fixed overhead is to be absorbed on the basis of direct labour hours. The actual units produced and sold for July were 1120.
Tucker Inc. is preparing its Manufacturing Overhead Budget for the Quarter based on the following production in units. April May June QuarterProduction in units 20,000 10,000 15,000 45,000Tucker Inc. uses a variable manufacturing overhead rate of $2.50 per unit produced Fixed manufacturing overhad is $40,000 per month and includes $20,000 of non-cash costs (depreciation of plant assets). The total Variable Manufacturing Overhead cost for the quarter is: The total Fixed Manufacturing Overhead cost for the quarter is: Thet total Manufacturing Overhead costs for the quarter is: The total Cash disbursements for manufacturing overhead for the quarter is
A company has the following budgeted and actual cost data for manufacturing 2,000 Product X units: Direct materials $50 per unit Direct labor $40 per unit Variable manufacturing overhead $ 5 $40,000 per year per unit Fixed manufacturing Overhead Product X sells for $200 per unit. Assume no beginning or ending inventories. The Gross Profit for selling 15 Product X units is %24
The following information is available for Pioneer Company: Sales price per unit is $100. . November and December sales were budgeted at 3,060 and 3,420 units, respectively. Variable costs are 11 percent of sales (6 percent commission, 2 percent advertising, 3 percent shipping). Fixed costs per month are sales salaries, $5,700; office salaries, $2,900; depreciation, $2,600; building rent, $3,000; insurance, $1,500; and utilities, $700. Required: Determine Pioneer's budgeted selling and administrative expenses for November and December. Total Budgeted Selling and Administrative Expenses November December
Courington Detailing's cost formula for its materials and supplies is $1,890 per month plus $8 per vehicle. For the month of August, the company planned for activity of 84 vehicles, but the actual level of activity was 49 vehicles. The actual materials and supplies for the month was $2,450. The materials and supplies in the flexible budget for August would be closest to: Multiple Choice $2,450 $1,417 $2,562 $2,282
Sun Valley showed the following on its direct materials budget for May: Units to be produced 62,500 Total kilos needed for production 5,000 Total kilos of materials to be purchased 7,500 The materials cost P2.50 per kilo. How much is the cost of direct materials per unit? • Cost of Direct Materials per Unit = Materials Cost x Total kilos needed for production/ Units to be produced a. Php 0.20 Ob. Php 0.30 C. Php 8.33
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
Accepting Business at a Special Price Forever Ready Company expects to operate at 90% of productive capacity during July. The total manufacturing costs for July for the production of 37,800 batteries are budgeted as follows: Direct materials $413,800 152,100 Direct labor Variable factory overhead 42,680 Fixed factory overhead 85,000 Total manufacturing costs $693,580 The company has an opportunity to submit a bid for 2,000 batteries to be delivered by July 31 to a government agency. If the contract is obtained, it is anticipated that the additional activity will not interfere with normal production during July or increase the selling or administrative expenses. What is the unit cost below which Forever Ready Company should not go in bidding on the government contract? Round your answer to two decimal places. per unit
Winston Company had two products code named X and Y. The firm had the following budget for August: Product X $ 296,040 197,360 $ 98,680 50,000 Product Y $ 541,000 216,400 $324,600 108,000 $216,600 $ 50 $ 48,680 $ 120 Sales Variable Costs Contribution Margin Fixed costs Operating Income Selling Price per unit On September 1, the following actual operating results for August were reported: Product X $366,800 203,500 $ 163,300 58,500 $ 104,800 3,170 Sales Variable Costs Contribution Margin Fixed costs Operating Income Units Sold Product Y $ 546,800 224,500 $322,300 116,500 $ 205,800 9,850 Total industry volume for both products X and Y was estimated to be 138,500 units at the time of the budget. Actual industry volume for the period for products X and Y was 106,800 units. The contribution margin sales volume variance for Product X is: Multiple Choice $12,500 unfavorable. $15,800 favorable. $23,200 favorable. $23,200 unfavorable. Total $ 837, 040 413,760 $ 423,280 158,000 $ 265,280 $28,120…
Monthly budgeted fixed overhead cost?
Y Limited produces one product. Budgeted units produced and sold for the month of July were 1000. Further budgeted information for July was also available. $ Sales 250 000 Direct material ($12 per kilo) (60 000) (100 000) Direct labour ($25 per labour hour) Fixed overhead (24 000) Budgeted profit 66 000 Fixed overhead is to be absorbed on the basis of direct labour hours. The actual units produced and sold for July were 1120.