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Construct the MOH budget Year 2 Quarter 1 2 3 4 Year Budgeted direct labor-hours Variable manufacturing overhead rate Total variable manufacturing overhead Total fixed manufacturing overhead Total manufacturing overhead Less depreciation Cash disbursements for manufacturing overhead ? ? ? ? ? ? ? ? $60,000 $60,000 $60,000 $60,000 $240,000 ? ? ? ? 15,000 15,000 15,000 15,000 $60,000 ? ? ? ? Total manufacturing overhead (a) Budgeted direct labor-hours (b) Predetermined overhead rate for the year (a)÷(b) ? ?

Construct the MOH budget Year 2 Quarter 1 2 3 4 Year Budgeted direct labor-hours Variable manufacturing overhead rate Total variable manufacturing overhead Total fixed manufacturing overhead Total manufacturing overhead Less depreciation Cash disbursements for manufacturing overhead ? ? ? ? ? ? ? ? $60,000 $60,000 $60,000 $60,000 $240,000 ? ? ? ? 15,000 15,000 15,000 15,000 $60,000 ? ? ? ? Total manufacturing overhead (a) Budgeted direct labor-hours (b) Predetermined overhead rate for the year (a)÷(b) ? ?

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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Construct the MOH budget Year 2 Quarter 1 4 Year Budgeted direct labor-hours Variable manufacturing overhead rate Total variable manufacturing overhead Total fixed manufacturing overhead Total manufacturing overhead Less depreciation Cash disbursements for manufacturing overhead ? ? ? ? ? ? ? ? ? ? ? ? ? ? $60,000 $60,000 $60,000 $60,000 $240,000 ? ? ? ? 15,000 15,000 15,000 15,000 $60,000 ? ? ? Total manufacturing overhead (a) Budgeted direct labor-hours (b) Predetermined overhead rate for the year (a)÷(b) ? ? ?
Transcribed Image Text:Construct the MOH budget Year 2 Quarter 1 4 Year Budgeted direct labor-hours Variable manufacturing overhead rate Total variable manufacturing overhead Total fixed manufacturing overhead Total manufacturing overhead Less depreciation Cash disbursements for manufacturing overhead ? ? ? ? ? ? ? ? ? ? ? ? ? ? $60,000 $60,000 $60,000 $60,000 $240,000 ? ? ? ? 15,000 15,000 15,000 15,000 $60,000 ? ? ? Total manufacturing overhead (a) Budgeted direct labor-hours (b) Predetermined overhead rate for the year (a)÷(b) ? ? ?
Data Year 2 Quarter Year 3 Quarter 1 2 3 4 1 2 Budgeted unit sales 40,000 60,000 100,000 50,000 70,000 80,000 • Selling price per unit • Accounts receivable, beginning balance • Sales collected in the quarter sales are made • Sales collected in the quarter after sales are made • Desired ending finished goods inventory is • Finished goods inventory, beginning • Raw materials required to produce one unit • Desired ending inventory of raw materials is • Raw materials inventory, beginning • Raw material costs • Raw materials purchases are paid and • Accounts payable for raw materials, beginning balance $12 per unit $65,000 75% 25% 30% of the budgeted unit sales of the next quarter 12,000 units 5 pounds 10% of the next quarter's production needs 23,000 pounds $0.80 per pound 60% in the quarter the purchases are made 40% in the quarter following purchase $81,500 •Direct labor cost per hour •Direct labor hour per unit $15 per hour 0.2 hour per unit $2 per hour $60,000 •Variable MOH rate •Total fixed MOH •Variable S&A expense rate $1.80 per unit $50,000 12% •Minimum cash balance •Annual Interest rate
Transcribed Image Text:Data Year 2 Quarter Year 3 Quarter 1 2 3 4 1 2 Budgeted unit sales 40,000 60,000 100,000 50,000 70,000 80,000 • Selling price per unit • Accounts receivable, beginning balance • Sales collected in the quarter sales are made • Sales collected in the quarter after sales are made • Desired ending finished goods inventory is • Finished goods inventory, beginning • Raw materials required to produce one unit • Desired ending inventory of raw materials is • Raw materials inventory, beginning • Raw material costs • Raw materials purchases are paid and • Accounts payable for raw materials, beginning balance $12 per unit $65,000 75% 25% 30% of the budgeted unit sales of the next quarter 12,000 units 5 pounds 10% of the next quarter's production needs 23,000 pounds $0.80 per pound 60% in the quarter the purchases are made 40% in the quarter following purchase $81,500 •Direct labor cost per hour •Direct labor hour per unit $15 per hour 0.2 hour per unit $2 per hour $60,000 •Variable MOH rate •Total fixed MOH •Variable S&A expense rate $1.80 per unit $50,000 12% •Minimum cash balance •Annual Interest rate
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