E9-2 (Algo) Preparing Flexible Budget for Manufacturing Costs [LO 9-2] Olive Company makes silver belt buckles. The company's master budget appears in the first column of the table. Required: Complete the table by preparing Olive's flexible budget for 4,600, 6,600, and 7,600 units. Note: Round your intermediate calculations to 2 decimal places. Master Budget Flexible Budget Flexible Budget Flexible Budget (6,600 Units) (7,600 Units) (5,600 Units) (4,600 Units) Direct materials $ 1,120 Direct labor 2,240 Variable manufacturing overhead 1,680 Fixed manufacturing overhead 17,300 Total manufacturing cost S 22,340

E9-2 (Algo) Preparing Flexible Budget for Manufacturing Costs [LO 9-2] Olive Company makes silver belt buckles. The company's master budget appears in the first column of the table. Required: Complete the table by preparing Olive's flexible budget for 4,600, 6,600, and 7,600 units. Note: Round your intermediate calculations to 2 decimal places. Master Budget Flexible Budget Flexible Budget Flexible Budget (6,600 Units) (7,600 Units) (5,600 Units) (4,600 Units) Direct materials $ 1,120 Direct labor 2,240 Variable manufacturing overhead 1,680 Fixed manufacturing overhead 17,300 Total manufacturing cost S 22,340

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter8: Budgeting For Planning And Control

Section: Chapter Questions

Problem 7CE: Refer to Cornerstone Exercise 8.6. Required: 1. Calculate the total budgeted cost of units produced...

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Subject: accounting
Olive Company makes silver belt buckles. The company’s master budget appears in the first column of the table.Required:Complete the table by preparing Olive’s flexible budget for 4,700, 6,700, and 7,700 units. (Round your intermediate calculations to 2 decimal places.)
Olive Company makes silver belt buckles. The company’s master budget appears in the first column of the table.Required:Complete the table by preparing Olive’s flexible budget for 4,200, 6,200, and 7,200 units. (Round your intermediate calculations to 2 decimal places.)
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Q.Prepare a direct manufacturing labor costs budget for January 2018.
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Use the following information for the Quick Study below. (Algo) Miami Solar manufactures solar panels for industrial use. The company budgets production of 5,100 units (solar panels).in July and 5,100 units in August. QS 20-9 (Algo) Manufacturing: Direct materials budget LO P1 Each unit requires 3 pounds of direct materials, which cost $7 per pound. The company's policy is to maintain direct materials inventory equal to 20% of the next month's direct materials requirement. As of June 30, the company has 3,060 pounds of direct materials in inventory. Prepare the direct materials budget for July. Units to produce MIAMI SOLAR Direct Materials Budget Materials needed for production (pounds) Total materials required (pounds) Materials to purchase (pounds) Cost of direct materials purchases July 5,100
LO.5 (Flexible budget) Tom's Shoe Repair provides a variety of shoe repair services. Analysis of monthly costs revealed the following cost formulas when direct labor hours are used as the basis of cost determination:Supplies: y= $0 + S4.00XProduction supervision and direct labor: y $500+ $7.00XUtilities: y= $350 + $5.40XRent: y= $450+ $0.00XAdvertising: y = $75 + $0.00OXa. Prepare a flexible budget at 250, 300, 350, and 400 direct labor hours.b. Calculate a total cost per direct labor hour at each level of activity. c. Tom's emplovees usually work 350 direct labor hours per month. The average shoe repair requires 1.25 labor hours to complete. Tom wants to earn a 40 percent margin on his cost. What should be the average charge per customer, rounded to the nearest dollar to achieve Tom's profit objective?
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