Direct labor cost budget Rip Court Racket Company manufactures two types of tennis rackets, the Junior and Pro Striker models. The production budget for March for the two rackets is as follows: Junior Pro Striker Production budget 4,300 units 9,400 units Both rackets are produced in two departments, Forming and Assemibly. The direct labor hours required for each racket are estimated as follows: Forming Department Assembly Department Junior 0.15 hour per unit 0.25 hour per unit Pro Striker 0.20 hour per unit 0.40 hour per unit The direct labor rate for each department is as follows: Forming Department $17 per hour Assembly Department $11 per hour This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. Open spreadsheet Prepare the direct labor cost budget for March. Rip Court Racket Company Direct Labor Cost Budget For the Month Ending March 31 Forming Assembly Department Department Hours required for production: Junior Pro Striker Total hours required Hourly rate Total direct labor cost

Direct labor cost budget Rip Court Racket Company manufactures two types of tennis rackets, the Junior and Pro Striker models. The production budget for March for the two rackets is as follows: Junior Pro Striker Production budget 4,300 units 9,400 units Both rackets are produced in two departments, Forming and Assemibly. The direct labor hours required for each racket are estimated as follows: Forming Department Assembly Department Junior 0.15 hour per unit 0.25 hour per unit Pro Striker 0.20 hour per unit 0.40 hour per unit The direct labor rate for each department is as follows: Forming Department $17 per hour Assembly Department $11 per hour This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. Open spreadsheet Prepare the direct labor cost budget for March. Rip Court Racket Company Direct Labor Cost Budget For the Month Ending March 31 Forming Assembly Department Department Hours required for production: Junior Pro Striker Total hours required Hourly rate Total direct labor cost

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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Factory Overhead Cost Budget Sweet Tooth Candy Company budgeted the following costs for anticipated production for August: Advertising expenses Manufacturing supplies Power and light Sales commissions Factory insurance Production supervisor wages Production control wages Executive officer salaries Materials management wages Factory depreciation Prepare a factory overhead cost budget, separating variable and fixed costs. Assume that factory insurance and depreciation are the only fixed factory costs. $297,290 16,290 48,600 328,580 28,300 142,930 37,160 303,010 40,880 23,150 Sweet Tooth Candy Company Factory Overhead Cost Budget For the Month Ending August 31 Variable factory overhead costs: Total variable factory overhead costs Fixed factory overhead costs: Total fixed factory overhead costs Total factory overhead costs
Direct Labor Cost Budget MatchPoint Racket Company manufactures two types of tennis rackets, the Junior and Pro Striker models. The production budget for March for the two rackets is as follows: Junior Pro Striker Production budget 8,300 units 19,800 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 0.25 hour per unit 0.4 hour per unit Junior Pro Striker 0.3 hour per unit 0.75 hour per unit The direct labor rate for each department is as follows: Forming Department $18 per hour Assembly Department $11 per hour Prepare the direct labor cost budget for March MatchPoint Racket Company Direct Labor Cost Budget For the Month Ending March 31
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Output/Input Budget Vinyard Clinic has the following resource input information available for a routine physical examination. Each exam normally requires 0.75 hours of examining room time, including 30 minutes of nursing services, 15 minutes of physician services • Each exam also utilizes one package of examination supplies costing $50 each. Including benefits, physicians earn $90/hour and nurses earn $35/hour. Variable overhead is budgeted at $15 per examining room hour and fixed overhead is budgeted at $8,000 per month. Required Prepare an output/input budget for October when 500 routine examinations are planned. Discuss some of the likely benefits to Vinyard Clinic of dedicating time to go through the budgeting process. VINYARD CLINIC Output/Input Budget For the Month of October Examining supplies Labor: Nursing services Physician services Variable overhead Fixed overhead Total budget
Single plantwide factory overhead rate Bach Instruments Inc. makes three musical instruments: flutes, clarinets, and oboes. The budgeted factory overhead cost is $105,000. Overhead is allocated to the three products on the basis of direct labor hours. The products have the following budgeted production volume and direct labor hours per unit: Budgeted Production Volume Direct Labor Hours Per Unit Flutes 2,300 units 0.6 Clarinets 700 1.6 Oboes 1,000 1.0 If required, round all per unit answers to the nearest cent. a. Determine the single plantwide overhead rate.$fill in the blank 1 per direct labor hour b. Use the overhead rate in (a) to determine the amount of total and per-unit overhead allocated to each of the three products. TotalFactory Overhead Cost Per UnitFactory Overhead Cost Flutes $fill in the blank 2 $fill in the blank 3 Clarinets fill in the blank 4 fill in the blank 5 Oboes fill in the blank 6 fill in the blank 7 Total…
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 8,900 units 21,000 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 0.40 hour per unit Pro Striker 0.35 hour per unit 0.70 hour per unit The direct labor rate for each department is as follows: Forming Department $18.00 per hour Assembly Department $11.00 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 fill in the blank 1 fill in the blank 2 Pro Striker fill in the blank 3 fill in the blank 4…
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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 1,500 units 6,200 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 0.16 hour per unit 0.24 hour per unit Pro Striker 0.20 hour per unit 0.30 hour per unit The direct labor rate for each department is as follows: Forming Department $18.00 per hour Assembly Department $14.00 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 fill in the blank 1 fill in the blank 2 Pro Striker fill in the blank 3 fill in the blank 4…
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: Pro Striker 23,400 units Production budget 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 9,100 units Junior 0.20 hour per unit Pro Striker 0.30 hour per unit The direct labor rate for each department is as follows: Forming Department Assembly Department 0.40 hour per unit 0.75 hour per unit $17.00 per hour $10.00 per hour
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…
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 7,800 units 21,500 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 0.50 hour per unit Pro Striker 0.30 hour per unit 0.70 hour per unit The direct labor rate for each department is as follows: Forming Department $20.00 per hour Assembly Department $9.00 per hour Prepare the direct labor cost budget for July. Ace Racket Company Direct Labor Cost Budget For the Month Ending July 31 Forming Department Assembly Department Hours required for production: Junior Pro Striker Total Hourly rate x$ x$ Total direct labor cost $ $
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 6,800 units 24,500 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 0.75 hour per unit The direct labor rate for each department is as follows: Forming Department $17 per hour Assembly Department $9 per hour Prepare the direct labor cost budget for July. Ace Racket Company Direct Labor Cost Budget For the Month Ending July 31 Forming Department Assembly Department Hours required for production: Junior Pro Striker Total Hourly rate x$ x$ Total direct labor cost $ $