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Exercise 20-7 Manufacturing: Direct labor and factory overhead budgets LO P1 Addison Co. budgets production of 2,400 units during the second quarter. Other information is as follows: Each finished unit requires 4 direct labor hours, at a cost of $20 per hour. Applied at the rate of $11 per direct labor hour. Budgeted at $450,000 per quarter. Direct labor Variable overhead Fixed overhead 1. Prepare a direct labor budget. 2. Prepare a factory overhead budget. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a direct labor budget. Answer is complete but not entirely correct. ADDISON CO. Direct Labor Budget Second Quarter Units to be produced Labor requirements per unit (hrs.) Total labor hours needed i Labor rate (per hour) Budgeted direct labor cost S $ 2,400 9,600 9.00 86,400 Required 1 units hours per unit hours per hr. Required 2 >

Exercise 20-7 Manufacturing: Direct labor and factory overhead budgets LO P1 Addison Co. budgets production of 2,400 units during the second quarter. Other information is as follows: Each finished unit requires 4 direct labor hours, at a cost of $20 per hour. Applied at the rate of $11 per direct labor hour. Budgeted at $450,000 per quarter. Direct labor Variable overhead Fixed overhead 1. Prepare a direct labor budget. 2. Prepare a factory overhead budget. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a direct labor budget. Answer is complete but not entirely correct. ADDISON CO. Direct Labor Budget Second Quarter Units to be produced Labor requirements per unit (hrs.) Total labor hours needed i Labor rate (per hour) Budgeted direct labor cost S $ 2,400 9,600 9.00 86,400 Required 1 units hours per unit hours per hr. Required 2 >

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Exercise 20-7 Manufacturing: Direct labor and factory overhead budgets LO P1 Addison Co. budgets production of 2,400 units during the second quarter. Other information is as follows: Each finished unit requires 4 direct labor hours, at a cost of $20 per hour. Applied at the rate of $11 per direct labor hour. Budgeted at $450,000 per quarter. Direct labor Variable overhead Fixed overhead 1. Prepare a direct labor budget. 2. Prepare a factory overhead budget. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a direct labor budget. Answer is complete but not entirely correct. ADDISON CO. Direct Labor Budget Second Quarter Units to be produced Labor requirements per unit (hrs.) Total labor hours needed i Labor rate (per hour) Budgeted direct labor cost S $ 2,400 9,600 9.00 86,400 Required 1 units hours per unit hours per hr. Required 2 >
Transcribed Image Text:Exercise 20-7 Manufacturing: Direct labor and factory overhead budgets LO P1 Addison Co. budgets production of 2,400 units during the second quarter. Other information is as follows: Each finished unit requires 4 direct labor hours, at a cost of $20 per hour. Applied at the rate of $11 per direct labor hour. Budgeted at $450,000 per quarter. Direct labor Variable overhead Fixed overhead 1. Prepare a direct labor budget. 2. Prepare a factory overhead budget. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a direct labor budget. Answer is complete but not entirely correct. ADDISON CO. Direct Labor Budget Second Quarter Units to be produced Labor requirements per unit (hrs.) Total labor hours needed i Labor rate (per hour) Budgeted direct labor cost S $ 2,400 9,600 9.00 86,400 Required 1 units hours per unit hours per hr. Required 2 >
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