Direct laborTempo Company's fixed budget (based on sales of 14,000 units) folllows.Fixed BudgetSales (14,000 units x $215 per unit)CostsDirect materialsIndirect materials3,010,000350,000602,000364,000Supervisor salary150,000Sales commissions112,000Shipping210,000Administrative salaries200,000Depreciation-Office equipment170,000Insurance140,000Office rent150,000Income562,0001. Compute total variable cost per unit.2. Compute total fixed costs.3. Prepare a flexible budget at activity levels of 12,000 units and 16,000 units.Complete this question by entering your answers in the tabs below.Required 1 Required 2 Required 3Prepare a flexible budget at activity levels of 12,000 units and 16,000 units.Variable costsTEMPO COMPANYFlexible BudgetVariable Amountper UnitTotal FixedCostFlexible Budget for:Units Sales Unit Sales ofof 12,000 16,00020

Step 1: Introduction to budgetingBudgeting is defined as the process of preparing a financial plan…

Answered: Direct labor Tempo Company's fixed…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Difference A company has numerous products and currently absorbs its production overheads based on labour hours; it has the following information: G H All products Budget (units) 2,400 3,000 Labour hours (£10/ hour) 1 hour 0.2 hours 1,000,000 Material cost / unit £2.00 £3.50 Material requisitions 4 8 4,000 Number of batches 6 3 10,000 Overheads are budgeted as £2,500,000 for production set-up related and £1,200,000 for materials handling and storage related. Required: Calculate the unit cost for products G and H if the company was to adopt activity based costing and comment on the difference.
29
Sales price $91 Direct material per unit 31 Direct labor per unit 16 Variable manufacturing overhead per unit 13 Fixed manufacturing overhead per unit 77,000 Variable sales and admin expenses per unit 4 Fixed sales and admin expenses per unit 24,000 Taxes 30%* *of income before taxes Prepare a flexible budgeted income for 100,000 units using the above information from a static budget for 80,000 units: Flexible Budgeted Income Statement $- Select - Cost of Goods Sold - Select - - Select - - Select - - Select - $- Select - $- Select - - Select - - Select - $- Select - - Select - $- Select -
None
Please do not give solution in image format thanku
Direct Method Eilers Company has two producing departments and two support departments. The following budgeted data pertain to these four departments: Support Departments Producing Departments General Factory Receiving Assembly Finishing Direct overhead $430,000 $170,000 $45,000 $76,000 Square footage 2,500 5,000 5,000 Number of receiving orders 320 1,900 1,200 Direct labor hours 28,000 45,000 The company has decided to simplify its method of allocating support service costs by switching to the direct method. Required: 1. Allocate the costs of the support departments to the producing departments using the direct method. Round allocation ratios to four significant digits. Round allocated costs to the nearest dollar. Use the rounded values for subsequent calculations. Allocation ratios: Assembly Finishing Square footage Number of receiving orders
Q19 Winston Company had two products code named X and Y. The firm had the following budget for August: Product X Product Y Total Sales $ 266,000 $ 450,000 $ 716,000 Variable Costs 192,000 225,000 417,000 Contribution Margin $ 74,000 $ 225,000 $ 299,000 Fixed costs 50,000 108,000 158,000 Operating Income $ 24,000 $ 117,000 $ 141,000 Selling Price per unit $ 100 $ 50 On September 1, the following actual operating results for August were reported: Product X Product Y Total Sales $ 280,000 $ 470,000 $ 750,000 Variable Costs 154,000 188,000 342,000 Contribution Margin $ 126,000 $ 282,000 $ 408,000 Fixed costs 50,000 108,000 158,000 Operating Income $ 76,000 $ 174,000 $ 250,000 Units Sold 3,000 9,000 Total industry volume for both products X and Y was estimated to be 130,000 units at the time of the budget. Actual industry volume for the period for products X and Y was 100,000 units. The firm's market size variance for the period…
Answer all the parts otherwise don't solve it. Accounting This is the budget for the year ended 30 April 2021 for company XTZ Total production & sales = 2400units Selling price per unit = $1200 Variable manufacturing costs : Direct labour = $192 ; Direct material = $288 ; Overheads = $96 Fixed manufacture overheads = $216,960 Other : Fixed marketing & admin cost = $144,000 Sales commission = 5% 4) If the company earns a net profit of $298,920 ; How many units were sold 5) If expected sales volume is 2400units, what is the sales price per unit which will allow the company to break even?
None

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS