Ch 17-19 2:47 1. Compute the total number of budgeted direct labor hours for the year. 2. Compute the plantwide overhead rate using budgeted direct labor hours. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Hydro Sports budgets overhead cost of $546,000 for the year. The company manufactures two types of jet skis: standard and deluxe. Budgeted direct labor hours per unit are 6 for the standard model and 15 for the deluxe model. The company budgets production of 130 units of the standard model and 130 units of the deluxe model for the year. Saved Model 3. Compute overhead cost per unit for each model using the plantwide overhead rate. Actual direct labor hours per unit are 6 for the standard model and 15 for the deluxe model. Compute the total number of budgeted direct labor hours for the year. Direct Labor Hours per Unit Budgeted Direct Labor Hours Standard Deluxe Total Required 3 Number of Units < Required 1 < Prev 4 of 4 0 Help Required 2 > Save & Exit Next > New Chrome available Submit

Ch 17-19 2:47 1. Compute the total number of budgeted direct labor hours for the year. 2. Compute the plantwide overhead rate using budgeted direct labor hours. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Hydro Sports budgets overhead cost of $546,000 for the year. The company manufactures two types of jet skis: standard and deluxe. Budgeted direct labor hours per unit are 6 for the standard model and 15 for the deluxe model. The company budgets production of 130 units of the standard model and 130 units of the deluxe model for the year. Saved Model 3. Compute overhead cost per unit for each model using the plantwide overhead rate. Actual direct labor hours per unit are 6 for the standard model and 15 for the deluxe model. Compute the total number of budgeted direct labor hours for the year. Direct Labor Hours per Unit Budgeted Direct Labor Hours Standard Deluxe Total Required 3 Number of Units < Required 1 < Prev 4 of 4 0 Help Required 2 > Save & Exit Next > New Chrome available Submit

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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Question 1 QVC Company produces kitchen cabinets at its factory. The following relates to the production of the kitchen cabinets for the period ending December 2020. Production (units) Sales (units) Fixed production cost Fixed Selling overhead Budgeted Actual 75,000 80,000 72,500 77,500 $750,000 $781,250 $562,500 $562,500 The fixed production overhead was absorbed at a pre- determined rate per unit produced. Each kitchen cabinet was sold for $450. Required: At the beginning of January 2020, there was opening stock of 4,375 units valued at $262,500; this includes fixed production overhead of $43,750. c) Prepare the reconciliation statement as at December 31, 2020.
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Things Get Messi Enterprises is issuing new bonds for a capital budgeting project. The bonds will have 25.00 year maturities with a coupon rate of 6.50% APR with semi - annual coupon payments (assume a face value of $1,000 on the bond). The current market rate for similar bonds is 5.24% APR. The company hopes to raise $38.00 million with the new issue. Based on the current market rate, what will a new bond sell for?
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View Policies Current Attempt in Progress Wilson Company manufactures a line of lightweight running shoes. CEO Charles Wilson estimated that the company would incur $7,200,000 in manufacturing overhead during the coming year. Additionally, he estimated the company would operate at a level requiring 400,000 direct labor hours and 400,000 machine hours. (a) Assume that Wilson Company uses direct labor hours as its manufacturing overhead application base. Calculate the company's predetermined overhead rate. Company's predetermined overhead rate $ eTextbook and Media Save for Later /DLH Attempts: 0 of 4 used (b) The parts of this question must be completed in order. This part will be available when you complete the part above. (c) The parts of this question must be completed in order. This part will be available when you complete the part above. (d) The parts of this question must be completed in order. This part will be available when you complete the part above. Submit Answer
Chapter 23 Mesa Bottle Company (MBC) manufactures plastic two-liter bottles for the beverage industry. The cost standards per 100 two-liter bottles are as follows: Standard Cost per 100 Two-Liter Bottles Cost Category Direct labor Direct materials $1.86 6.48 0.56 Factory overhead Total $8.90 At the beginning of July, MBC management planned to produce 600,000 bottles. The actual number of bottles produced for July was 645,000 bottles. The actual costs for July of the current year were as follows: Actual Cost for the Month Ended Cost Category July 31, 2019 Direct labor $12,143 Direct materials 40,915 Factory overhead Total 3,780 $56,838 a. Prepare the July manufacturing standard cost budget (direct labor, direct materials, and factory overhead) for MBC, assuming planned production. b. Prepare a budget performance report for manufacturing costs, showing the total cost variances direct materials, direct labor, and factory overhead for July. c. Interpret the budget performance report.
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23: Siding Company manufactures 3 types of siding for homes: Tin, Wood and Vipak The budgeted factory overhead cost is $3,000,000. Overhead is allocated to the three products on the basis of direct labor hours. The products have the following budgeted production volumes and direct labor hours / unit: Expected Volume Direct Labor Hours / Unit Tin 5,000 units 4,000 units 5.0 Wood 3.0 Vival 2,000 units 7.0 Calculate 1: the Single Plantwide Overhead Rate, and 2: The overhead allocated to each product. Round any answers to 2 decimal places. Hint: you will need to calculate the total activity base as it is not given! Rate: Overhead Per Unit: Tin Wood Vival
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