Estimated unit sales Unit selling price Direct labor hours per unit Direct labor cost per hour January 10,560 $60 2.0 $6.0 February $57.5 12,320 11,440 2.0 April 9,680 $57.5 $57.5 $6.0 March 1.5 $6.0 1.5 $7.0 May 9,680 $57.5 1.5 $7.0 Sheridan has a labor contract that calls for a wage increase to $7.0 per hour on April 1. New labor-saving machinery has been installed and will be fully operational by March 1. Sheridan expects to begin the year with 15,488 frames on hand and has a policy of carrying an end-of-month inventory of 100% of the following month's sales, plus 40% of the second following month's sales.

Estimated unit sales Unit selling price Direct labor hours per unit Direct labor cost per hour January 10,560 $60 2.0 $6.0 February $57.5 12,320 11,440 2.0 April 9,680 $57.5 $57.5 $6.0 March 1.5 $6.0 1.5 $7.0 May 9,680 $57.5 1.5 $7.0 Sheridan has a labor contract that calls for a wage increase to $7.0 per hour on April 1. New labor-saving machinery has been installed and will be fully operational by March 1. Sheridan expects to begin the year with 15,488 frames on hand and has a policy of carrying an end-of-month inventory of 100% of the following month's sales, plus 40% of the second following month's sales.

Name: (b)Prepare a direct labor budget for Sheridan Company by month and fo
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: (b)Prepare a direct labor budget for Sheridan Company by month and for the first quarter of the year. The direct labor budget shouldinclude direct labor hours. (Round Direct labor hours per unit answers to 1 decimal place, e.g. 52.7.)$$JanSHERIDAN C

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

Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Total unit cost Cost per Unit $ 32.50 13.00 19.50 26.00 $91.00 An outside supplier has offered to provide Cotton with the 10,000 subcomponents at an $84.50 per-unit price. No portion of fixed overhead is avoidable. If Cotton accepts the outside offer, what will be the effect on short-term profits?
Cost accumulation; assigning costs to jobs The law firm of Taub & Lawson, LLP, currently has four cases in process. Following is information related to those cases as of the end of March: Case #1 Case #2 Case #3 Case #4 $864 $15,840 $6,660 $1,530 40 12 Direct material Direct labor hours Estimated court hours Taub & Lawson allocates overhead to cases based on a predetermined rate of $270 per estimated court hour. The charge for direct labor each hour is $342. Total cost $ 90 65 70 120 15 40 a. Determine the total cost assigned to each case as of March 31. Case #1 Case #2 Case #3 Case #4 3,240 x $ 17,550 * $ 32,400 x $ 10,800 × b. Case #3 was completed at the end of April. At that time, $18,180 of direct materials had been used and 174 direct labor hours had been incurred. Of the DLHs, 72 had been spent in court. Taub & Lawson's policy is to charge clients actual costs plus 45 percent. What amount will be billed to the client involved in Case #3? Note: Round your final answer to the…
Deliveries to the retailers Sh.so 2,400,000 Set-up costs 6,000,000 Purchase order costs 3,600,000 Total overheads 12,000,000 All director labor is paid at $ 5 per hour. The company holds no inventories. Required: a. Calculate the total profit on each of General Motor's three types of products using each of the following methods: 1. The existing method based upon labor hours 2. Activity based costing
1. Fruit Tea's data show the following information: Aug. 25,000 31 1.75 Estimated sales (units) Sales price per unit Direct labor per unit unit $ $ Labor rate per hour $ C. Direct materials budget d. Direct labor budget Sept. 25,000 31 $ $ $ 21 $ Nov. Dec. 27,500 28,000 $ $ 31 $ 31 1.75 $ 1.75 $ 1.50 $ 1.50 $ 1.50 1.50 $ 21 $ 24 $ 24 $ 24 Oct. 27,000 31 New machinery will be added in October. This machine will reduce the labor required per unit and increase the labor rate for those employees qualified to operate the machinery. Finished goods inventory is required to be 20% of the next month's requirements. Direct material requires 2.5 pounds per unit at a cost of $5 per pound. The ending inventory required for direct materials is 20% of the next month's needs. In August, the beginning inventory is 3,750 units of finished goods and 13,125 pounds of materials. For the first quarter ending in October prepare a: a. Sales budget b. Production budget 4
Can you please check my work
help with work answer in text
Please help me with all answers I will give upvote thanku
Subject:
5