None Cameron Company manufactures model airplane kits. Direct materials are seven ounces of plastic per kit andthe plastic costs $3 per ounce. Indirect materials are considered insignificant and are not included in thebudgeting process. Each kit requires 0.75 hours of direct labor at an average cost of $15 per hour.Manufacturing overhead is allocated using direct labor hours as the allocation base. The company hasprepared the following budgets:View the budgets.Cameron Company projects sales of 350, 150, 450, and 550 kits for the next four quarters.Cameron Company has no kits in beginning inventory. Determine the cost per kit to manufacture the modelairplane kits. Prepare a cost of goods sold budget for the year. Round amounts to two decimal places.Determine the cost per kit to manufacture the model airplane kits. (Round your answers to two decimal places,$X.XX.)Total projected manufacturing cost per kit

To calculate the cost per kit to manufacture the model airplane kits, follow these steps:Direct…

Answered: Cameron Company manufactures model…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter9: Evaluating Variances From Standard Costs

Section: Chapter Questions

Problem 3E: Salisbury Bottle Company manufactures plastic two-liter bottles for the beverage industry. The cost...

See similar textbooks

Similar questions

Krouse Company produces two products, forged putter heads and laminated putter heads, which are sold through specialty golf shops. The company is in the process of developing itsoperating budget for the coming year. Selected data regarding the companys two products areas follows: Manufacturing overhead is applied to units using direct labor hours. Variable manufacturing overhead Ls projected to be 25,000, and fixed manufacturing overhead is expected to be15,000. The estimated cost to produce one unit of the laminated putter head is: a. 42. b. 46. c. 52. d. 62.
Cold X, Inc. uses this information when preparing their flexible budget: direct materials of $2 per unit, direct labor of $3 per unit, and manufacturing overhead of $1 per unit. Fixed costs are $35,000. What would be the budgeted amounts for 20,000 and 25,000 units?
Cloud Shoes manufactures recovery sandals and is planning on producing 12.000 units in March and 11,500 in April. Each sandal requires 1.2 yards if material, which costs $3.00 per yard. The companys policy is to have enough material on hand to equal 15% of next months production needs and to maintain a finished goods inventory equal to 20% of the next months production needs. What is the budgeted cost of purchases for March?
Salisbury Bottle Company manufactures plastic two-liter bottles for the beverage industry. The cost standards per 100 two-liter bottles are as follows: At the beginning of March, Salisburys management planned to produce 500,000 bottles. The actual number of bottles produced for March was 525,000 bottles. The actual costs for March of the current year were as follows: a. Prepare the March manufacturing standard cost budget (direct labor, direct materials, and factory overhead) for Salisbury, assuming planned production. b. Prepare a budget performance report for manufacturing costs, showing the total cost variances for direct materials, direct labor, and factory overhead for March. c. Interpret the budget performance report.
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?
Preston, Inc. manufactures model airplane kits. Direct materials are five ounces of plastic per kit and the plastic costs $1 per ounce. Indirect materials are considered insignificant and are not included in the budgeting process. Each kit requires 0.25 hours of direct labor at an average cost of $40 per hour. Manufacturing overhead is allocated using direct labor hours as the allocation base. The company has prepared the following budgets: 1(Click the icon to view the budgets.) Preston projects sales of 200, 500, 700, and 600 kits for the next four quarters. Preston has no kits in beginning inventory. Determine the cost per kit to manufacture the model airplane kits. Prepare a cost of goods sold budget for the year. Round amounts to two decimal places. Determine the cost per kit to manufacture the model airplane kits. (Round your answers to two decimal places, $X.XX.) (1) Direct materials cost per kit (2) Direct labor cost per kit…
Homer, Inc. manufactures model airplane kits. Direct materials are six ounces of plastic per kit and the plastic costs $4 per ounce. Indirect materials are considered insignificant and are not included in the budgeting process. Each kit requires 0.50 hours of direct labor at an average cost of $50 per hour. Manufacturing overhead is allocated using direct labor hours as the allocation base. The company has prepared the following budgets: (Click the icon to view the budgets.) Homer projects sales of 200, 100, 200, and 100 kits for the next four quarters. Homer has no kits in beginning inventory. Determine the cost per kit to manufacture the model airplane kits. Prepare a cos of goods sold budget for the year. Round amounts to two decimal places. Determine the cost per kit to manufacture the model airplane kits. (Round your answers to two decimal places, $X.XX.) Total projected manufacturing cost per kit pages Reference Budgeted kits to be produced Direct materials (ounces) per kit…
Grady, Inc. manufactures model airplane kits. Direct materials are four ounces of plastic per kit and the plastic costs $1 per ounce. Indirect materials are considered insignificant and are not included in the budgeting process. Each kit requires 0.10 hours of direct labor at an average cost of $10 per hour. Manufacturing overhead is allocated using direct labor hours as the allocation base. The company has prepared the following budgets: (Click the icon to view the budgets.) Grady projects sales of 100, 150, 100, and 200 kits for the next four quarters. Grady has no kits in beginning inventory. Determine the cost per kit to manufacture the model airplane kits. Prepare a cost of goods sold budget for the year. Round amounts to two decimal places. X Determine the cost per kit to manufacture the model airplane kits. (Round your answers to two decimal places, SX.XX.) $ 1.00 4.00 0.50 5.50 Direct labor cost per kit Direct materials cost per kit Manufacturing overhead cost per kit $ Total…
Carlton Company manufactures model airplane kits. Direct materials are three ounces of plastic per kit and the plastic costs $2 per ounce. Indirect materials are considered insignificant and are not included in the budgeting process. Each kit requires 0.25 hours of direct labor at an average cost of $25 per hour Manufacturing overhead is allocated using direct labor hours as the allocation base. The company has prepared the following budgets: View the buccala Carton Company projects sales of 200. 100, 300, and 900 kts for the next four quarters. Carlton Company has no kits in beginning inventory. Determine the cost per kit to manufacture the model airplane kits. Prepare a cost of goods sold budget for the year. Round amounts to two decimal places. Determine the cost per kit to manufacture the model akplane kits. (Round your answers to two decimal places, SX.XX) Direct materials cost per kit Drect labor cost per kit Manufacturing overhead cost per kt Total projected manufacturing cost…
Cameron Company manufactures model airplane kits. Direct materials are seven ounces of plastic per kit and the plastic costs $3 per ounce. Indirect materials are considered insignificant and are not included in the budgeting process. Each kit requires 0.75 hours of direct labor at an average cost of $15 per hour. Manufacturing overhead is allocated using direct labor hours as the allocation base. The company has prepared the following budgets View the budgets. Cameron Company projects sales of 350, 150, 450, and 550 kits for the next four quarters. Cameron Company has no kits in beginning inventory. Determine the cost per kit to manufacture the model airplane kits. Prepare a cost of goods sold budget for the year. Round amounts to two decimal places. Determine the cost per kit to manufacture the model airplane kits. (Round your answers to two decimal places, $XXX.) Total projected manufacturing cost per kit Budgets Cameron Company Direct Materials Budget For the Year Ended December 31…
Yammy Company currently produces ultimate discs in an automated process. Expected production per month is 80,000 units. The required direct materials costs $0.20 per unit and labor costs $0.10 per unit. Manufacturing fixed overhead costs are $5,000 per month. Manufacturing overhead is allocated based on units of production. What is the flexible budget total product costs for 80,000 and 40,000 units, respectively?
Palladium Inc. produces a variety of household cleaning products. Palladium's controller has developed standard costs for the following four overhead items: Overhead Item Total Fixed Cost Variable Rate per Direct Labor Hour Maintenance $86,000 $0.20 Power $0.45 Indirect Labor $140,000 $2.10 Rent $35,000 Next year, Palladium expects production to require 88,000 direct labor hours. Prepare an overhead budget for the expected level of direct labor hours for the coming year.

SEE MORE QUESTIONS

Recommended textbooks for you

Managerial Accounting

Accounting

ISBN:

9781337912020

Author:

Carl Warren, Ph.d. Cma William B. Tayler

Publisher:

South-Western College Pub

Financial And Managerial Accounting

Accounting

ISBN:

9781337902663

Author:

WARREN, Carl S.

Publisher:

Cengage Learning,

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

Managerial Accounting

Accounting

ISBN:

9781337912020

Author:

Carl Warren, Ph.d. Cma William B. Tayler

Publisher:

South-Western College Pub

Financial And Managerial Accounting

Accounting

ISBN:

9781337902663

Author:

WARREN, Carl S.

Publisher:

Cengage Learning,

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

SEE MORE TEXTBOOKS