Direct Labor Cost Budget Ace Racket Company manufactures two types of tennis rackets, the Junior and Pro Striker models. The production budget for July for the two rackets is as follows: Junior Production budget 24,200 units Both rackets are produced in two departments, Forming and Assembly. The direct labor hours required for each racket are estimated as follows: Pro Striker Forming Department 0.20 hour per unit. 0.35 hour per unit Forming Department Assembly Department Junior 7,300 units The direct labor rate for each department is as follows: $19.00 per hour $8.00 per hour Hours required for production: Junior Pro Striker Total Prepare the direct labor cost budget for July. Ace Racket Company Direct Labor Cost Budget For the Month Ending July 31 Pro Striker Hourly rate Total direct labor cost Assembly Department 0.50 hour per unit 0.60 hour per unit X$ Forming Department Assembly Department X$

Direct Labor Cost Budget Ace Racket Company manufactures two types of tennis rackets, the Junior and Pro Striker models. The production budget for July for the two rackets is as follows: Junior Production budget 24,200 units Both rackets are produced in two departments, Forming and Assembly. The direct labor hours required for each racket are estimated as follows: Pro Striker Forming Department 0.20 hour per unit. 0.35 hour per unit Forming Department Assembly Department Junior 7,300 units The direct labor rate for each department is as follows: $19.00 per hour $8.00 per hour Hours required for production: Junior Pro Striker Total Prepare the direct labor cost budget for July. Ace Racket Company Direct Labor Cost Budget For the Month Ending July 31 Pro Striker Hourly rate Total direct labor cost Assembly Department 0.50 hour per unit 0.60 hour per unit X$ Forming Department Assembly Department X$

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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Direct Labor Cost Budget Ace Racket Company manufactures two types of tennis rackets, the Junior and Pro Striker models. The production budget for July for the two rackets is as follows: Junior Pro Striker Production budget 8,100 units 20,700 units Both rackets are produced in two departments, Forming and Assembly. The direct labor hours required for each racket are estimated as follows: Forming Department Assembly Department Junior 0.25 hour per unit 0.5 hour per unit Pro Striker 0.35 hour per unit 0.65 hour per unit The direct labor rate for each department is as follows: Forming Department $16 per hour Assembly Department $12 per hour Prepare the direct labor cost budget for July. Ace Racket Company Direct Labor Cost Budget For the Month Ending July 31 Forming Department Assembly Department Hours required for production: Junior Pro Striker Total x$ Hourly rate Total direct labor cost
Direct Labor Cost Budget Pasadena Candle Inc. budgeted production of 27,000 candles for January. Each candle requires molding. Assume that four minutes are required to mold each candle. If molding labor costs $14.5 per hour, determine the direct labor cost budget for January. Round total direct labor cost to the nearest dollar, if required. Pasadena Candle Inc.Direct Labor Cost BudgetFor the Month Ending January 31 Hours required for assembly: Candles min. Convert minutes to hours ÷ min. Molding hours hrs. Hourly rate × $ Total direct labor cost $
Question Content Area The total factory overhead for Big Light Company is budgeted for the year at $1,393,700. Big Light manufactures two different products: night lights and desk lamps. Night lights are budgeted for 17,000 units. Each night light requires 3 hours of direct labor. Desk lamps are budgeted for 13,000 units. Each desk lamp requires 2 hours of direct labor. a. Determine the total number of budgeted direct labor hours for the year.fill in the blank 1 of 1 direct labor hours b. Determine the single plantwide factory overhead rate using direct labor hours as the allocation base. Round your answer to two decimal places.fill in the blank 1 of 1$ per direct labor hour c. Determine the factory overhead allocated per unit for each product using the single plantwide factory overhead rate determined in (b). Round your answers to two decimal places.Night lights fill in the blank 1 of 1$ per unitDesk lamps fill in the blank 1 of 1$ per unit
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Flexible Budget for Fabrication Department Steelcase Inc. is one of the largest manufacturers of office furniture in the United States. In Grand Rapids, Michigan, it produces filing cabinets in two departments: Fabrication and Assembly. Assume the following information for the Assembly Department: Direct labor per filing cabinet 20 minutes Supervisor salaries $129,000 per month Depreciation $25,000 per month Direct labor rate $21 per hour Prepare a flexible budget for 15,000, 19,000, and 23,000 filing cabinets for the month of August, similar to Exhibit 5, assuming that inventories are not significant. Enter all amounts as positive numbers. Steelcase Inc. - Assembly Department Month Ending August 31 (Assumed Data) Units of production 15,000 19,000 23,000 Variable cost: $fill in the blank 2 $fill in the blank 3 $fill in the blank 4 Fixed cost: $fill in the blank 6 $fill in the blank 7 $fill in the blank 8 fill in the blank 10…
Sales, Production, Direct Materials Purchases, and Direct Labor Cost Budgets The budget director of Gourmet Grill Company requests estimates of sales, production, and other operating data from the various administrative units every month. Selected information concerning sales and production for July is summarized as follows: Estimated sales for July by sales territory: Maine: Backyard Chef 310 units at $700 per unit Master Chef 150 units at $1,200 per unit Vermont: Backyard Chef 240 units at $750 per unit Master Chef 110 units at $1,300 per unit New Hampshire: Backyard Chef 360 units at $750 per unit Master Chef 180 units at $1,400 per unit Estimated inventories at July 1: Direct materials: Grates 290 units Stainless steel 1,500 lbs. Burner subassemblies 170 units Shelves 340 units Finished products: Backyard Chef 30 units Master Chef 32 units Desired inventories at July 31: Direct materials: Grates 340 units Stainless steel…
Hockey Pro budgets 410 hours of direct labor during May. The company applies variable overhead at the rate of $12 per direct labor hour. Budgeted fixed overhead equals $44,000 per month. Prepare a factory overhead budget for May. HOCKEY PRO Factory Overhead Budget Direct labor hours needed Budgeted variable overhead Budgeted total factory overhead May
Cost of Goods Sold Budget Play-Disc makes Frisbee-type plastic discs. Each 12-inch diameter plastic disc has the following manufacturing costs: Direct materials $1.65 Direct labor 0.50 Variable overhead 0.85 Fixed overhead 1.80 Total unit cost $4.80 For the coming year, Play-Disc expects to make 400,000 plastic discs, and to sell 390,000 of them. Budgeted beginning inventory in units is 19,000 with unit cost of $4.80. (There are no beginning or ending inventories of work in process.) Required: 1. Calculate the total budgeted cost of units produced for Play-Disc for the coming year. Show the cost of direct materials, direct labor, and overhead. Budgeted direct materials Budgeted direct labor Budgeted overhead Total budgeted manufacturing cost
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Each unit of product Zeta requires 3 kg of raw material and 4 direct labour hours. Material costs $2 per kg and the direct labour rate is $7 per hour. The production budget for Zeta for April to June is as follows. April May June Production units 7,800 8,400 8,200 16.17 Raw material opening inventories are budgeted as follows. April May June 3,800 kg 4,200 kg 4,100 kg The closing inventory budgeted for June is 3,900 kg. Material purchases are paid for in the month following purchase. What is the figure to be included in the cash budget for June in respect of payments for purchases? A $25,100 B $48,800 C $50,200 D $50,600
Required information Miami Solar manufactures solar panels for industrial use. The company budgets production af 5,400 units (solar panels) in July and 4,400 units in August. Each unit requires 4 hours of direct labor at a rate of $17 per hour. Prepare a direct labor budget for July MIAMI SOLAR Direct Labor Budget July Units to produce 5,400 Direct labor hours needed Cost of direct labor
Flexible Budget for Various Levels of Activity Palladium Inc. produces a variety of household cleaning products. Palladium’s controller has developed standard costs for the following four overhead items: Overhead Item Total Fixed Cost Variable Rate per DirectLabor Hour Maintenance $ 86,000 $0.20 Power 0.45 Indirect labor 140,000 2.10 Rent 35,000 Next year, Palladium expects production to require 90,000 direct labor hours. Required: 1. Prepare an overhead budget for the expected level of direct labor hours for the coming year. Palladium Inc. Overhead Budget For the Coming Year Variable costs: Rate per Hour Activity Level90,000 Hours Maintenance $fill in the blank 336531fff03bfc2_1 $fill in the blank 336531fff03bfc2_2 Power fill in the blank 336531fff03bfc2_3 fill in the blank 336531fff03bfc2_4 Indirect labor fill in the blank 336531fff03bfc2_5 fill in the…