Coronado Industries expects a direct materials cost of $8 per unit for 100000 units (a total of $800000 of direct materials costs). Coronado's standard direct materials cost and budgeted direct materials cost is Standard Budgeted
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- Given the following information from Power Enterprises direct materials budget, how much direct materials needs to be purchased?Judges Gavel uses this information when preparing their flexible budget: direct materials of $3 per unit, direct labor of $2.50 per unit, and manufacturing overhead of $1.25 per unit. Fixed costs are $49,000. What would be the budgeted amounts for 33,000 and 35,000 units?Banks Corporation has the following information for direct materials for the latest period. BANKS CORPORATION INFORMATION FOR DIRECT MATERIALS FOR THE LATEST PERIOD Standard price per unit of direct materials Actual price per unit of direct materials Budgeted units of output Standard quantity of direct materials allowed per unit of output Actual units of direct materials used Actual units of direct materials purchased Actual units of output produced SA SA 15.00 $ 16.50 45,000 3 units 40,000 50,000 14,000 The company calculates its price variance based on quantity purchased. What is the direct materials price variance? $60,000 favorable. $60,000 unfavorable.
- Nite Corporation has developed the following flexible budget formula for annual indirect labor costs: Total Cost = P480,000 + P5.00 per machine hour Operating budgets for the current month are based upon 20,000 machine hours of planned machine time. Indirect labor costs included in this planning budget are:Walton Manufacturing Company established the following standard price and cost data. Sales price $8.20 per unit Variable manufacturing cost $3.60 per unit Fixed manufacturing cost $ 2,200 total Foxed selling and administrative cost $ 500. total Walton planned to produce and sell 2, 100 units. Actual production and sales amounted to 2, 300 units. Required Prepare the pro forma income statement in contribution format that would appear in a master budget. Prepare the pro forma income statement in contribution format that would appear in a flexible budgetRundle Manufacturing Company established the following standard price and cost data. Sales price $ 8.20 per unit Variable manufacturing cost 3.90 per unit Fixed manufacturing cost 3,000 total Fixed selling and administrative cost 800 total Rundle planned to produce and sell 2,600 units. Actual production and sales amounted to 2,700 units. Required Prepare the pro forma income statement in contribution format that would appear in a master budget. Prepare the pro forma income statement in contribution format that would appear in a flexible budget.
- The Current Designs staff has prepared the annual manufacturing budget for the rotomolded line based on an estimated annual production of 3,960 kayaks during 2020. Each kayak will require 56 pounds of polyethylene powder and a finishing kit (rope, seat, hardware, etc.). The polyethylene powder used in these kayaks costs $1.00 per pound, and the finishing kits cost $150 each. Each kayak will use two kinds of labor-2 hours of type I labor from people who run the oven and trim the plastic, and 3 hours of work from type II workers who attach the hatches and seat and other hardware. The type I employees are paid $19 per hour, and the type II are paid $16 per hour. Manufacturing overhead is budgeted at $381,520 for 2020, broken down as follows. Variable costs Indirect materials Manufacturing supplies Maintenance and utilities Fixed costs Supervision Insurance Depreciation Total Polyethylene powder Finishing kits Type I labor Type II labor Indirect materials Manufacturing supplies Maintenance…Zachary Manufacturing Company established the following standard price and cost data. Sales price $ 8.60 per unit Variable manufacturing cost 4.00 per unit Fixed manufacturing cost 2,900 total Fixed selling and administrative cost 800 total Zachary planned to produce and sell 2,100 units. Actual production and sales amounted to 2,300 units. Required Prepare the pro forma income statement in contribution format that would appear in a master budget. Prepare the pro forma income statement in contribution format that would appear in a flexible budget. Prepare the pro forma income statement in contribution format that would appear in a master budget. ZACHARY MANUFACTURING COMPANY Pro Forma Income Statement Master Budget 0 $0 Prepare the pro forma income statement in contribution format that would appear in a flexible budget.…Donkey Company expects direct materials cost of OMR 6 per unit for 100,000 units (a total of OMR 600,000 of direct materials costs). Donkey's standard direct materials cost and budgeted direct materials cost is 7. Standard OMR 6 per unit OMR 6 per unit c. OMR 600,000 per year d. OMR 600,000 per year Budgeted OMR 600,000 per year OMR 6 per unit OMR 6 per unit OMR 600,000 per year a. b. Answer
- Cherokee Manufacturing Company established the following standard price and cost data: Sales price $ 12.00 per unit Variable manufacturing cost 7.20 per unit Fixed manufacturing cost 3,600 total Fixed selling and administrative cost 1,200 total Cherokee planned to produce and sell 2,000 units. Actual production and sales amounted to 2,200 units. Required Prepare the pro forma income statement in contribution format that would appear in a master budget. Prepare the pro forma income statement in contribution format that would appear in a flexible budget.Banks Corporation has the following information for direct materials for the latest period. BANKS CORPORATION INFORMATION FOR DIRECT MATERIALS FOR THE LATEST PERIOD Standard price per unit of direct materials Actual price per unit of direct materials Budgeted units of output Standard quantity of direct materials allowed per unit of output Actual units of direct materials used Actual units of direct materials purchased Actual units of output produced SA SA $ 15.00 $ 16.50 45,000 3 units 40,000 50,000 14,000 The company calculates its price variance based on quantity purchased. What was the total quantity of direct materials allowed based on the standards? 45,000. 50,000.NUBD Corporation is using the following flexible-budget formula for annual indirect labor cost: Total cost = P12,000 + P0.75 per machine hour. For the month of June, the operating budgets are based upon 10,000 hours of planned machine time. Indirect labor costs included in this planning budget are
