Each shade requires a total of $45.00 in direct materials that includes 4 adjustable poles that cost $5.00 each. Shadee expects to have 130 in direct materials inventory on May 1, 90 poles in inventory on May 31, and 110 poles in inventory on June 30. Suppose that each shade takes three direct labor hour to produce and Shadee pays its workers $15 per hour. Additionally, Shadee's fixed manufacturing overhead is $10,000 per month, and variable manufacturing overhead is $15 per unit produced. Use the information and solutions presented to complete the requirements. Required: 1. Determine Shadee's budgeted manufacturing cost per shade. (Note: Assume that fixed overhead per unit is $20.) 2. Prepare Shadee's budgeted cost of goods sold for May and June.
Q: Silver Company makes a product with peak sales in May of each year. Its sales budget for the second…
A: The schedule of expected cash collection shows the amount of cash to be collected in the future…
Q: he following summary data are from a performance report for Sterling Company for May, during which…
A: The flexible budget refers to a budget which is not rigid in nature and is prepared for the actual…
Q: Amortization of Right-of-Use Asset Amortizatio Lease Expense n of Right- Interest of-Use Asset…
A: Lease:A lease is a type of contract in which one person gives the right to another person in order…
Q: The managing director of a consulting group has the accompanying monthly data on total overhead…
A: Regression equation is given as, Overhead Costs= 163066.7+ 49.2000×Billable Hours Explanation:Given…
Q: Selected data for the consulting department of Austin Consulting, Inc., follow: Estimated consulting…
A: Factory overheads are the indirect manufacturing costs which are incurred in producing the goods.…
Q: A buyer of $7,100 in merchandise inventory failed to take advantage of the vendor's credit terms of…
A: Cash discount is the amount of money which is not paid by the purchaser due to the discount allowed…
Q: Recording Asset Acquisition through Debt Teslla Corporation purchased land by signing a note with…
A: When a company acquires an asset through debt, it’s important to accurately record the transaction…
Q: Surf Company can sell all of the two surfboard models it produces, but it has only 400 direct labor…
A: Lets understand the basics.When entity have scare input resource then management try to choose best…
Q: Martin Clothing Company is a retail company that sells hiking and other outdoor gear specially made…
A: CASH BUDGET Cash Budget is a detailed budget of cash income and cash expenditure incorporating both…
Q: QUESTION 5 Jackson Company adopted Dollar Value LIFO (DVL) on January 1, 2012 for its one inventory…
A: COGS stands for the cost of goods sold. It measures the direct cost incurred in the operation of the…
Q: REQUIRED: Record the abandonment entry assuming the abandonment does ot significantly affect the…
A: Lease-A lease is a contract in which the property/assets owners allow another party to use the…
Q: Required Information The Foundational 15 (Algo) [LO11-2, LO11-3, LO11-4, LO11-5, LO11-6] [The…
A: Financial Advantage : Financial advantage means the benefit a company will get if company chooses a…
Q: Businesswire.com reported a shortage of inventory for new and used cars during the pandemic mainly…
A: MACRS stands for Modified Accelerated Cost Recovery System. Depreciation expense refers to a…
Q: Nordstrom, Inc. operates department stores in numerous states. Selected hypothetical financial…
A: Ratio analysis is used by the user of the financial statements to assess the company on various…
Q: A corporation commences operations on January 1, 2019. It has the following account balances at…
A: The objective of the question is to calculate the total net assets of the corporation at the end of…
Q: Simpson, age 45, is a single individual who is employed full time by Duff Corporation. This year…
A: To calculate the amount of medical expenses that will be included in Simpson's itemized deductions…
Q: Prepare a direct labor budget for the months July, August, and September.
A: The budget is prepared to estimate the requirements for the future period. The Direct Labor Budget…
Q: 3-39 CVP analysis, medical sector. Yahama Medical Centre operates a medical surgery in Japan that…
A: “Since you have posted a question with multiple sub parts, we will provide the solution only to the…
Q: None
A: Return on common share equity:The return on common share equity is popularly known as the ROCE. It…
Q: Answer with all working
A: Balance SheetA Balance Sheet is a statement that shows a company's financial position. From this, we…
Q: Marigold's Vegetable Market had the following transactions during 2020: 1. Issued $46000 of par…
A: The cash flow statement is used to record the various activities for the inflow and outflow of cash…
Q: Required information Exercise 21-13 (Static) Identifying cash flows from investing activities and…
A: 1) Net Cash outflows from Investing activities = - $148 million Explanation:Step 1:Investing…
Q: Please answer in detail and a clear format: On January 1, 2013, Boss Limited signed off on a leasing…
A: A lease is a contractual agreement between two business organizations in provides an asset to the…
Q: Trent, Incorporated needs an additional worker on a multiyear project. It could hire an employee for…
A: Marginal income tax is the tax rate paid on income. Marginal income tax is the difference between…
Q: University Car Wash purchased new soap dispensing equipment that cost $234,000 including…
A: Under the activity-based method of charging depreciation, the depreciation is charged based on the…
Q: Determination of Projected Benefit Obligation Several years ago, Lewad Company established a defined…
A: It is the process that makes preparation and presentation of financial information of company's…
Q: Morganton Company makes one product and it provided the following information to help prepare the…
A: Total manufacturing costs is the total cost incurred in the manufacturing of product during the…
Q: On January 8, the end of the first weekly pay period of the year, Regis Company's employees earned…
A: Answer:- Payroll taxes are the percentage of employee's salary that an employer held to pay it to…
Q: first three rows of an amortization schedule. ur intermediate and final answers to
A: Bonds are issued at a premium when the market rate is lower than the bond coupon rate.Bonds are…
Q: Question 23 Reilly Manufacturing, Inc., is considering reorganizing its plant into manufacturing…
A: Labor expenses include the salaries and perks given to workers actively engaged in manufacturing…
Q: None
A: Flexible Budget for variable cost is calculated by multiplying budgeted variable cost per activity…
Q: Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care…
A: The objective of the question is to create an amortization table for the loan and to record the…
Q: Alo Company produces commercial printers. One is the regular model, a basic model that is designed…
A: The contribution margin refers to the difference between the sales and the variable expense. It…
Q: The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account…
A: Trial balance means a statement which include all the debit or credit balances of accounts from…
Q: The debts which are to be repaid within a short period (year or less) are known as A. Current…
A: The liability refers to what a business owes to its outsiders. Thus, it refers to future…
Q: answer with must must explanation , computation for each parts and steps answer in text form no copy…
A: Variance analysis Variance analysis is an analysis of a difference between planned and actual…
Q: You have been asked to give an economical assessment based on ownership cost and operating cost…
A: a) Cost per hour of owning the loader: The expense of the decreasing worth and repairs, for each…
Q: Red River Bakery purchases land, building, and equipment for a single purchase price of $260,000.…
A: The assets can be defined as resources owned by a company, used for earning revenue for it. Assets…
Q: dont provide handwriing solution...
A: The objective of the question is to calculate the sales budget for Beatrice Company for the fourth…
Q: Huron Company produces a cleaning compound known as Zoom. The direct materials and direct labor…
A: Standard costing means where standard is set for various cost element and actual cost is then…
Q: For the transaction of the purchase of common stock, why are we debiting cash and crediting the…
A: The Total Stockholders Equity is the value of the total capital/equity of the owners of the entity.…
Q: On January 1, 2024, the general ledger of TNT Fireworks includes the following account balances:…
A: Trial balance is a summary showing the ending balances of all the ledger accounts. The trial balance…
Q: Kalen O'Brien earned $710 this week. The deductions from her pay were as follows: FIT FICA-OASDI…
A: Disposable earnings refers to the amount of portion of income left with the person after deducting…
Q: When a corporation repurchases its own shares, there is: Part 1 A. An income gain. B. a liability…
A: A company usually uses a procedure known as a "share buyback" or "stock repurchase" when it buys…
Q: Eagle Tiles is a small distributor of marble tiles. Eagle identifies its three major activities and…
A: Operating income is the income available after paying for the cost of goods sold and operating cost…
Q: Question Content Area Depreciation by two methods A storage tank acquired at the beginning of the…
A: Depreciation :For calculating the depreciation of assets we use several methods, some of which are…
Q: Jackson Company adopted Dollar Value LIFO on January1,2011 for its one inventory pool. The…
A: The objective of this question is to calculate the ending inventory value of Jackson Company at…
Q: The accompanying data are from a football league for one season. a. Construct a scatter diagram for…
A: a) The scatter diagram shows linear so there appears to be a linear relationship between the two…
Q: Puget Sound Divers is a company that provides diving services such as underwater ship repairs to…
A: Variable cost is the cost that changes with change in the activity of cost driver used. The variable…
Q: None
A: The inventory can be valued using various methods as FIFO, LIFO and average method. Using FIFO, the…
Step by step
Solved in 4 steps
- Ottis, Inc., uses 640,000 plastic housing units each year in its production of paper shredders. The cost of placing an order is 30. The cost of holding one unit of inventory for one year is 15.00. Currently, Ottis places 160 orders of 4,000 plastic housing units per year. Required: 1. Compute the annual ordering cost. 2. Compute the annual carrying cost. 3. Compute the cost of Ottiss current inventory policy. Is this the minimum cost? Why or why not?Click the Chart sheet tab. On the screen is a column chart showing ending inventory costs. During a deflationary period, which bar (A, B, or C) represents FIFO costing, which represents LIFO costing, and which represents weighted average? Explain your reasoning. On January 4 following year-end, Rio Enterprises received a shipment of 60 units of product costing 580 each. These units had been ordered by Del in December and had been shipped to him on December 27. They were shipped FOB shipping point. Revise the FIFOLIFO3 worksheet to include this shipment. Preview the printout to make sure that the worksheet will print neatly on one page, and then print the worksheet. Save the completed file as FIFOLIFOT. Using the FIFOLIFO3 file, prepare a 3-D bar (stacked) chart showing the cost of goods sold and ending inventory under each of the four inventory cost flow assumptions. No Chart Data Table is needed. Use the values in the Calculations Section of the worksheet for your chart. Enter your name somewhere on the chart. Save the file again as FIFOLIFO3. Print the chart.Langstons purchased $3,100 of merchandise during the month, and its monthly income statement shows a cost of goods sold of $3,000. What was the beginning inventory if the ending inventory was $1,250?
- [The following information applies to the questions displayed below.]Shadee Corp. expects to sell 630 sun visors in May and 410 in June.Each visor sells for $24. Shadee’s beginning and ending finishedgoods inventories for May are 75 and 45 units, respectively. Endingfinished goods inventory for June will be 60 units.!Each visor requires a total of $4.00 in direct materials that includes an adjustableclosure that the company purchases from a supplier at a cost of $1.50 each. Shadeewants to have 31 closures on hand on May 1, 23 closures on May 31, and 20 closureson June 30. Additionally, Shadee’s fixed manufacturing overhead is $700 per month,and variable manufacturing overhead is $1.75 per unit produced.Required:1. Determine Shadee's budgeted cost of closures purchased for May and June.2. Determine Shadee's budget manufacturing overhead for May and June. Required 1 Required 2 Required information[The following information applies to the questions displayed below.]Shadee Corp. expects to sell 630 sun visors in May and 410 in June.Each visor sells for $24. Shadee’s beginning and ending finishedgoods inventories for May are 75 and 45 units, respectively. Endingfinished goods inventory for June will be 60 units.!Each visor requires a total of $4.00 in direct materials that includes an adjustableclosure that the company purchases from a supplier at a cost of $1.50 each. Shadeewants to have 31 closures on hand on May 1, 23 closures on May 31, and 20 closureson June 30. Additionally, Shadee’s fixed manufacturing overhead is $700 per month,and variable manufacturing overhead is $1.75 per unit produced. Each visor takes 0.80direct labor hours to produce and Shadee pays its workers $8 per hour.Additional information:Selling costs are expected to be 8 percent of sales.Fixed administrative expenses per month total $1,300.Required:Determine Shadee's budgeted selling and…[The following information applies to the questions displayed below.]Shadee Corp. expects to sell 630 sun visors in May and 410 in June.Each visor sells for $24. Shadee’s beginning and ending finishedgoods inventories for May are 75 and 45 units, respectively. Endingfinished goods inventory for June will be 60 units.!Each visor requires a total of $4.00 in direct materials that includes an adjustableclosure that the company purchases from a supplier at a cost of $1.50 each. Shadeewants to have 31 closures on hand on May 1, 23 closures on May 31, and 20 closureson June 30. Additionally, Shadee’s fixed manufacturing overhead is $700 per month,and variable manufacturing overhead is $1.75 per unit produced.Required:1. Determine Shadee's budgeted cost of closures purchased for May and June.2. Determine Shadee's budget manufacturing overhead for May and June. Required 1 Required 2 Complete this question by entering your answers in the tabs below.Determine Shadee's budget manufacturing…
- Required Information [The following information applies to the questions displayed below] Shadee Corp. expects to sell 590 sun visors in May and 410 in June. Each visor sells for $21. Shadee's beginning and ending finished goods inventories for May are 65 and 45 units, respectively. Ending finished goods Inventory for June will be 55 units. Each visor requires a total of $5.00 in direct materials that includes an adjustable closure that the company purchases from a supplier at a cost of $1.50 each. Shadee wants to have 28 closures on hand on May 1, 22 closures on May 31, and 24 closures on June 30 and variable manufacturing overhead is $100 per unit produced. Suppose that each visor takes 0.80 direct labor hours to produce and Shadee pays its workers $6 per hour. Additional information - Selling costs are expected to be 8 percent of sales. . Fixed administrative expenses per month total $1.300.Required information Skip to question [The following information applies to the questions displayed below.]Shadee Corp. expects to sell 650 sun visors in May and 420 in June. Each visor sells for $17. Shadee’s beginning and ending finished goods inventories for May are 85 and 55 units, respectively. Ending finished goods inventory for June will be 55 units. Each visor requires a total of $4.00 in direct materials that includes an adjustable closure that the company purchases from a supplier at a cost of $1.50 each. Shadee wants to have 27 closures on hand on May 1, 21 closures on May 31, and 23 closures on June 30 and variable manufacturing overhead is $1.25 per unit produced. Suppose that each visor takes 0.50 direct labor hours to produce and Shadee pays its workers $7 per hour. Required:1. Determine Shadee’s budgeted manufacturing cost per visor. (Note: Assume that fixed overhead per unit is $1.50.) (Round your answer to 2 decimal places.)Required information Skip to question [The following information applies to the questions displayed below.]Shadee Corp. expects to sell 650 sun visors in May and 420 in June. Each visor sells for $17. Shadee’s beginning and ending finished goods inventories for May are 85 and 55 units, respectively. Ending finished goods inventory for June will be 55 units. Each visor requires a total of $4.00 in direct materials that includes an adjustable closure that the company purchases from a supplier at a cost of $1.50 each. Shadee wants to have 27 closures on hand on May 1, 21 closures on May 31, and 23 closures on June 30. Additionally, Shadee’s fixed manufacturing overhead is $1,500 per month, and variable manufacturing overhead is $1.25 per unit produced.Required:1. Determine Shadee's budgeted cost of closures purchased for May and June. (Round your answers to 2 decimal places.) 2. Determine Shadee's budget manufacturing overhead for May and June. (Do not round your intermediate…
- [The following information applies to the questions displayedbelow.]Shadee Corp. expects to sell 630 sun visors in May and 410 inJune. Each visor sells for $24. Shadee’s beginning and endingfinished goods inventories for May are 75 and 45 units,respectively. Ending finished goods inventory for June will be 60units.!Each visor requires a total of $4.00 in direct materials that includes an adjustableclosure that the company purchases from a supplier at a cost of $1.50 each. Shadeewants to have 31 closures on hand on May 1, 23 closures on May 31, and 20 closureson June 30 and variable manufacturing overhead is $1.75 per unit produced.Suppose that each visor takes 0.80 direct labor hours to produce and Shadee paysits workers $8 per hour.Required:1. Determine Shadee’s budgeted manufacturing cost per visor. (Note: Assume thatfixed overhead per unit is $4.)2. Compute the Shadee’s budgeted cost of goods sold for May and June. Required 1 Required 2 Complete this question by entering your…[The following information applies to the questions displayedbelow.]Shadee Corp. expects to sell 630 sun visors in May and 410 inJune. Each visor sells for $24. Shadee’s beginning and endingfinished goods inventories for May are 75 and 45 units,respectively. Ending finished goods inventory for June will be 60units.!Each visor requires a total of $4.00 in direct materials that includes an adjustableclosure that the company purchases from a supplier at a cost of $1.50 each. Shadeewants to have 31 closures on hand on May 1, 23 closures on May 31, and 20 closureson June 30 and variable manufacturing overhead is $1.75 per unit produced.Suppose that each visor takes 0.80 direct labor hours to produce and Shadee paysits workers $8 per hour.Additional information:Selling costs are expected to be 8 percent of sales.Fixed administrative expenses per month total $1,300.Required:Complete Shadee's budgeted income statement for the months of May and June.(Note: Assume that fixed overhead per unit is…Required information Skip to question [The following information applies to the questions displayed below.]Shadee Corp. expects to sell 650 sun visors in May and 420 in June. Each visor sells for $17. Shadee’s beginning and ending finished goods inventories for May are 85 and 55 units, respectively. Ending finished goods inventory for June will be 55 units. Suppose that each visor takes 0.50 direct labor hours to produce and Shadee pays its workers $7 per hour.Required:Determine Shadee's budgeted direct labor cost for May and June. (Do not round your intermediate values. Round your answers to 2 decimal places.)