The manufacturing overhead budget at Polich Corporation is based on budgeted direct labor-hours. The direct labor budget indicates that 7700 direct labor-hours will be required in February. The variableoverhead rate is $8.20 per direct labor-hour. The company's budgeted fixed manufacturing overhead is $112.420 per month, which includes depreciation of $18,110. All other fixed manufacturing overheadcosts represent current cash flows.The February cash disbursements for manufacturing overhead on the manufacturing overhead budget should be:Multiple Cholce$175.560$157,450$94,310$63.140< Prev10 of 114:392 F AQI 61ype here to search9/30DELL

The money from one bank account to another is known as a disbursement. A disbursement is a monetary…

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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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Phoenix Company reports the following fixed budget. It is based on an expected production and sales volume of 15,400 units. Sales Costa PHOENIX COMPANY Fixed Budget For Year Ended December 31 Direct materials Direct labor Sales staff commissions Depreciation-Machinery Supervisory salaries Shipping Sales staff salaries (fixed annual amount) Administrative salaries Depreciation-office equipment Income $ 3,234,000 1,001,000 246,400 46,200 295,000 198,000 231,000 251,000 610,700 193,000 $ 161,700
Echo Amplifiers prepared the following sales budget for the first quarter of 2018: Jan. Feb. Mar. Units BOD Sales price $100 $100 Budgeted sales $80,000 $130,000 $100,000 It also has this additional information related to its expenses: Direct material per unit Direct labor per unit Variable manufacturing overhead per hour Fixed manufacturing overhead per month Sales commissions per unit Sales salaries per month Delivery expense per unit Factory utilities per month Administrative salaries per month Marketing expenses per month Insurance expense per month Depreciation expense per month Budgeted Sales in Units Variable Expenses Sales Commissions 1,300 Delivery Total Variable Expenses Fixed Expenses Sales Salaris $100 Administrative Salaries Marketing Expenses Insurance Expense Depreciation Expense 1,500 Total Fixed Expenses Total Selling and Administrative Expenses $1.50 2 Prepare a sales and administrative expense budget for each month in the quarter ending March 31, 2018. Enter all…
Subject : Accounting
Tucker Inc. is preparing its Manufacturing Overhead Budget for the Quarter based on the following production in units. April May June QuarterProduction in units 20,000 10,000 15,000 45,000Tucker Inc. uses a variable manufacturing overhead rate of $2.50 per unit produced Fixed manufacturing overhad is $40,000 per month and includes $20,000 of non-cash costs (depreciation of plant assets). The total Variable Manufacturing Overhead cost for the quarter is: The total Fixed Manufacturing Overhead cost for the quarter is: Thet total Manufacturing Overhead costs for the quarter is: The total Cash disbursements for manufacturing overhead for the quarter is
In Paige Company, direct labor is $20 per hour. The company expects to operateat 10,000 direct labor hours each month. In January 2014, direct labor totaling $204,000is incurred in working 10,400 hours. Prepare (a) a static budget report and (b) a fl exiblebudget report. Evaluate the usefulness of each report.
At the beginning of the period, the Fabricating Department budgeted direct labor of $123,500 and equipment depreciation of $34,000 for 6,500 hours of production. The department actually completed 8,600 hours of production. Determine the budget for the department, assuming that it uses flexible budgeting.$fill in the blank 1
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D’s Company Ltd expects to have a cash balance of $45000 on March 1, 2024.Relevant monthly budget data for the months of March and April are as follows:• Collections from customers: March $85000; April $150000• Payments for direct materials: March $50000; April $75000• Direct labour: March $30000; April $45000. Wages are paid in the month they are incurred.• Manufacturing overhead: March $21000; April $25000. These costs include depreciation of$1500 per month. All other overhead costs are paid as incurred.• Selling and administrative expenses: March $15000; April $20000. These costs are exclusive ofdepreciation. They are paid as incurred.• Sales of marketable securities in March are expected to be realised $12000 in cash.D’s Company Ltd. has a line of credit at a local bank that enables it to borrow up to$25000. Thecompany wants to maintain a minimum monthly cash balance of $20000. prepare cash budgets for march n april 2024

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