Elroy Corporation bases its manufacturing overhead budget on budgeted direct labor-hours. The variable overhead rate is $2.90 per direct labor-hour. The company's budgeted fixed manufacturing overhead is $198,560 per month, which includes depreciation of $28,970. All other fixed manufacturing overhead costs represent current cash flows. The July direct labor budget indicates that 9,800 direct labor-hours will be required in that month. Required: SHOW YOUR WORK in budget format a. Determine the cash disbursements for manufacturing overhead in good form, including heading, for January 2024b. Determine the predetermined overhead rate for July. (Round your answer to 2 decimal places.)

Elroy Corporation bases its manufacturing overhead budget on budgeted direct labor-hours. The variable overhead rate is $2.90 per direct labor-hour. The company's budgeted fixed manufacturing overhead is $198,560 per month, which includes depreciation of $28,970. All other fixed manufacturing overhead costs represent current cash flows. The July direct labor budget indicates that 9,800 direct labor-hours will be required in that month. Required: SHOW YOUR WORK in budget format a. Determine the cash disbursements for manufacturing overhead in good form, including heading, for January 2024b. Determine the predetermined overhead rate for July. (Round your answer to 2 decimal places.)

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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A department has budgeted monthly manufacturing overhead cost of $610000 plus $5 per direct labor hour. If a flexible budget report reflects $1094000 for total budgeted manufacturing cost for the month, the actual level of activity achieved during the month was O340800 direct labor hours. O cannot be determined from the information provided. O96800 direct labor hours. O218800 direct labor hours.
Phoneix Company... Please refer to the two images below.
The direct labor budget of Yuvwell Corporation for the upcoming fiscal year contains the following details concerning budgeted direct labor-hours: Budgeted direct labor-hours The company uses direct labor-hours as its overhead allocation base. The variable portion of its predetermined manufacturing overhead rate is $7.00 per direct labor-hour and its total fixed manufacturing overhead is $88,000 per quarter. The only noncash item included in fixed manufacturing overhead is depreciation, which is $22,000 per quarter. 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 12,000 10,200 10,500 11,300 Required: 1. Prepare the company's manufacturing overhead budget for the upcoming fiscal year. 2. Compute the company's predetermined overhead rate (including both variable and fixed manufacturing overhead) for the upcoming fiscal year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the company's manufacturing overhead budget for the upcoming fiscal…
Ruozzo Corporation is a service company that measures its output by the number of customers served. The company has provided the following fixed and variable cost estimates that it uses for budgeting purposes and the actual results of operations for July. Fixed Element per Month Variable Element per Customer Served Actual Total for July Revenue $ 4,500 $ 100,000 Employee salaries and wages $ 43,100 $ 900 $ 63,300 Travel expenses $ 500 $ 11,500 Other expenses $ 36,900 $ 37,900 When the company prepared its planning budget at the beginning of July, it assumed that 27 customers would have been served. However, 22 customers were actually served during July. The activity variance for net operating income for July would have been closest to: 16,400 F or U, 15,500 F or U.
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At the beginning of the period, the Cutting Department budgeted direct labor of $54,060 and supervisor salaries of $47,590 for 3,180 hours of production. The department actually completed 3,500 hours of production. Determine the budget for the department assuming that it uses flexible budgeting.$______________
A company absorbs factory overheads rate based on production units. Closing inventories of finished goods are equal to 40% of the production demand. Opening inventories of finished goods are equal to 20% of the sales demand. Sales demand is 1 500 units. The budgeted fixed production overhead for the month is N$52 000. The budgeted production units are equal to actual production units. Calculate the factory overheads rate for the month.
The prôductión manager of Rordan Corporation has submitted the following quarterly production forecast for the upcoming fiscal year: 1st Quarter 8,600 2nd Quarter 6,500 3rd Quarter 7,300 4th Quarter 8, 200 Units to be produced Each unit requires 0.75 direct labor-hours, and direct laborers are paid $12.00 per hour. Required: 1. Prepare the company's direct labor budget for the upcoming fiscal year. (Round "Direct labor time per unit (hours)" answers to 2 decimal places.) Rordan Corporation Direct Labor Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Direct labor time per unit (hours) Total direct labor-hours needed Direct labor cost per hour Total direct labor cost ... 田 0 DELL ...
Roberts Company has the following manufacturing overhead budget for the current month: Budgeted units to be produced $30,000 VOH* cost per unit $30 Budgeted VOH* 900,000 Budgeted FOH** Depreciation 9,000 Rent 18,000 Total budgeted FOH 27,000 Budgeted manufacturing overhead costs $927,000 *VOH − Variable Manufacturing Overhead**FOH − Fixed Manufacturing OverheadWhat would be the budgeted manufacturing overhead costs for the month if Roberts Company expects to increase the budgeted production of units to 35,000 and the variable overhead cost per unit is expected to decrease to $25 per unit? Question content area bottom Part 1 A. $902,000 B. $875,000 C.$848,000 D.$927,000
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