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 $35,000. What would be the budgeted amounts for 20,000 and 25,000 units? PLEASE NOTE: All dollar amounts will be rounded to whole dollars with "$" and commas as needed (i.e. $12,345). Cold X, Inc. Flexible Budget 20,000 Units 25,000 Units Production Costs Fixed Overhead Total Costs

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 $35,000. What would be the budgeted amounts for 20,000 and 25,000 units? PLEASE NOTE: All dollar amounts will be rounded to whole dollars with "$" and commas as needed (i.e. $12,345). Cold X, Inc. Flexible Budget 20,000 Units 25,000 Units Production Costs Fixed Overhead Total Costs

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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Geovanni Inc. uses standard costs to prepare its flexible budget. Standard and actual costs data for manufacturing overhead for producing 5,000 units of product are as follows: Standard and actual costs data for manufacturing overhead Costs Rate Allocation base per unit Variable overhead $8 per direct labor hour 2 hours Fixed overhead (based on 12,000 hours at 100% capacity) $3 per direct labor hour 2 hours Actual total overhead costs are as follows: Actual Total Overhead Costs Costs Amounts Total variable overhead costs $58,000 Total fixed overhead costs $20,000 Compute the fixed overhead cost variance. Group of answer choices -$7,000 favorable $10,000 unfavorable -$10,000 favorable $18,000 unfavorable
Top Dog Company has a budget with sales of 7,500 units and $3,400,000. Variable costs are budgeted at $1,850,000, and fixed overhead is budgeted at $970,000. What is the budgeted manufacturing cost per unit?
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Your answer is partially correct. Indigo Company uses a flexible budget for manufacturing overhead based on direct labor hours. Budgeted variable manufacturing overhead costs per direct labor hour are as follows. Indirect labor Indirect materials Utilities $1.10 0.80 0.50 Budgeted fixed overhead costs per month are Supervision $4,800, Depreciation $1,440, and Property Taxes $960. The company believes it will normally operate in a range of 8,400-12,000 direct labor hours per month. Prepare a monthly manufacturing overhead flexible budget for 2022 for the expected range of activity, using increments of 1,200 direct labor hours. (List variable costs before fixed costs.)
Oriole Manufacturing uses a flexible budget. It has the following budgeted manufacturing costs for 30000 pairs of shoes: Fixed Manufacturing Costs, $10500 and Variable Manufacturing Costs, $16.00 per pair of shoes. If Oriole Manufacturing makes 21700 pairs of shoes this month, what are the total budgeted manufacturing cost for the month? $347200. O $357700. O $480000. O $490500.
Vaughn Manufacturing produced 290000 units in 135000 direct labor hours. Production for the period was estimated at 300000 units and 150000 direct labor hours. A flexible budget would compare budgeted costs and actual costs, respectively, at O 145000 hours and 135000 hours O 135000 hours and 135000 hours O 145000 hours and 150000 hours O 150000 hours and 135000 hours
Laurie Inc.’s static budget for 10,000 units of production includes $60,000 for direct materials, $44,000 for direct labor, fixed utilities costs of $5,000, and supervisor salaries of $25,000. A flexible budget for 12,000 units of production would show a. the same cost structure in total b. direct materials of $72,000, direct labor of $52,800, fixed utilities of $5,000, and supervisor salaries of $25,000 c. direct materials of $60,000, direct labor of $52,800, fixed utilities of $6,000, and supervisor salaries of $25,000 d. total variable costs of $159,800
Sheridan, Inc.'s static budget at 3,000 units of production includes $13,800 for direct labor, $4,800 for utilities (variable), and total fixed costs of $25,800. Actual production and sales for the year was 9,000 units, with an actual cost of $83,600.Determine if Sheridan is over or under budget. Sheridan is select an option budget by $
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Hemlock Company developed the following data for the current year: Beginning work in process inventory $275,000 Direct materials used 160,000 Actual overhead 340,000 Overhead applied 225,000 Cost of goods manufactured 265,000 Total manufacturing costs 860,000 Hemlock Company's direct labor cost for the year is?
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