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Complete this question by entering your answWERS Required 1 Required 2 Units to produce Prepare direct labor budgets for September and October. (Round "DL hours required per unit" answers to one decimal place.) Required 3 Direct labor hours needed Cost of direct labor MCO Leather Direct Labor Budget September October < Required 1 Required 3 >

Complete this question by entering your answWERS Required 1 Required 2 Units to produce Prepare direct labor budgets for September and October. (Round "DL hours required per unit" answers to one decimal place.) Required 3 Direct labor hours needed Cost of direct labor MCO Leather Direct Labor Budget September October < Required 1 Required 3 >

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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MCO Leather manufactures leather purses. Each purse requires 2 pounds of direct materials at a cost of $4 per pound and 0.7 direct labor hour at a rate of $17 per hour. Variable overhead is budgeted at a rate of $2 per direct labor hour. Budgeted fixed overhead is $17,000 per month. The company's policy is to end each month with direct materials inventory equal to 30% of the next month's direct materials requirement. At the end of August the company had 2,700 pounds of direct materials in inventory. The company's production budget reports the following. Production Budget September October Units to produce 4,500 7,200 (1) Prepare direct materials budgets for September and October. (2) Prepare direct labor budgets for September and October. (3) Prepare factory overhead budgets for September and October. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Units to produce Prepare direct materials budgets for September and October. MCO Leather Direct Materials Budget Required 3 Materials needed for production (pounds) Total materials required (pounds) November 5,800 Materials to purchase (pounds) Cost of direct materials purchases September Required 1 October Required 2 >
Transcribed Image Text:MCO Leather manufactures leather purses. Each purse requires 2 pounds of direct materials at a cost of $4 per pound and 0.7 direct labor hour at a rate of $17 per hour. Variable overhead is budgeted at a rate of $2 per direct labor hour. Budgeted fixed overhead is $17,000 per month. The company's policy is to end each month with direct materials inventory equal to 30% of the next month's direct materials requirement. At the end of August the company had 2,700 pounds of direct materials in inventory. The company's production budget reports the following. Production Budget September October Units to produce 4,500 7,200 (1) Prepare direct materials budgets for September and October. (2) Prepare direct labor budgets for September and October. (3) Prepare factory overhead budgets for September and October. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Units to produce Prepare direct materials budgets for September and October. MCO Leather Direct Materials Budget Required 3 Materials needed for production (pounds) Total materials required (pounds) November 5,800 Materials to purchase (pounds) Cost of direct materials purchases September Required 1 October Required 2 >
MCO Leather manufactures leather purses. Each purse requires 2 pounds of direct materials at a cost of $4 per pound and 0.7 direct labor hour at a rate of $17 per hour. Variable overhead is budgeted at a rate of $2 per direct labor hour. Budgeted fixed overhead is $17,000 per month. The company's policy is to end each month with direct materials inventory equal to 30% of the next month's direct materials requirement. At the end of August the company had 2,700 pounds of direct materials in inventory. The company's production budget reports the following. Production Budget September 4,500 Units to produce (1) Prepare direct materials budgets for September and October. (2) Prepare direct labor budgets for September and October. (3) Prepare factory overhead budgets for September and October. Required 1 Complete this question by entering your answers in the tabs below.. Required 2 Units to produce repare direct labor budgets for September and October. (Round "DL hours required per unit" answers to one decimal place.) Direct labor hours needed Cost of direct labor October 7,200 MCO Leather Direct Labor Budget Required 31 Production Budget September Units to produce 4,500 November 5,800 Direct labor hours needed MCO Leather manufactures leather purses. Each purse requires 2 pounds of direct materials at a cost of $4 per pound and 0.7 direct labor hour at a rate of $17 per hour. Variable overhead is budgeted at a rate of $2 per direct labor hour. Budgeted fixed overhead is. $17,000 per month. The company's policy is to end each month with direct materials inventory equal to 30% of the next month's direct materials requirement. At the end of August the company had 2,700 pounds of direct materials in inventory. The company's production budget reports the following. Budgeted variable overhead September October < Required 1 (1) Prepare direct materials budgets for September and October. (2) Prepare direct labor budgets for September and October. (3) Prepare factory overhead budgets for September and October, Budgeted total factory overhead Complete this question by entering your answers in the tabs below. October November 7,200 5,800 Required 1 Required 2 Required 3 Prepare factory overhead budgets for September and October. MCO Leather Factory Overhead Budget September <Required 2 Required 3 > October Required 3>
Transcribed Image Text:MCO Leather manufactures leather purses. Each purse requires 2 pounds of direct materials at a cost of $4 per pound and 0.7 direct labor hour at a rate of $17 per hour. Variable overhead is budgeted at a rate of $2 per direct labor hour. Budgeted fixed overhead is $17,000 per month. The company's policy is to end each month with direct materials inventory equal to 30% of the next month's direct materials requirement. At the end of August the company had 2,700 pounds of direct materials in inventory. The company's production budget reports the following. Production Budget September 4,500 Units to produce (1) Prepare direct materials budgets for September and October. (2) Prepare direct labor budgets for September and October. (3) Prepare factory overhead budgets for September and October. Required 1 Complete this question by entering your answers in the tabs below.. Required 2 Units to produce repare direct labor budgets for September and October. (Round "DL hours required per unit" answers to one decimal place.) Direct labor hours needed Cost of direct labor October 7,200 MCO Leather Direct Labor Budget Required 31 Production Budget September Units to produce 4,500 November 5,800 Direct labor hours needed MCO Leather manufactures leather purses. Each purse requires 2 pounds of direct materials at a cost of $4 per pound and 0.7 direct labor hour at a rate of $17 per hour. Variable overhead is budgeted at a rate of $2 per direct labor hour. Budgeted fixed overhead is. $17,000 per month. The company's policy is to end each month with direct materials inventory equal to 30% of the next month's direct materials requirement. At the end of August the company had 2,700 pounds of direct materials in inventory. The company's production budget reports the following. Budgeted variable overhead September October < Required 1 (1) Prepare direct materials budgets for September and October. (2) Prepare direct labor budgets for September and October. (3) Prepare factory overhead budgets for September and October, Budgeted total factory overhead Complete this question by entering your answers in the tabs below. October November 7,200 5,800 Required 1 Required 2 Required 3 Prepare factory overhead budgets for September and October. MCO Leather Factory Overhead Budget September <Required 2 Required 3 > October Required 3>
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