Exercise 4-6 (Algo) Computing departmental overhead rates LO P2Hydro Sports budgets overhead cost of $450,000 for the year, of this amount, $280,500 is traceable to the Assembly department and$176,000 is traceable to the Finishing department. The company manufactures two types of jet skis: standard and deluxe. Budgeteddirect labor hours for the standard model are 7 in Assembly and 1 in Finishing. Budgeted direct labor hours for the deluxe model are 10in Assembly and 3 in Finishing The company budgets production of 110 units of the standard model and 110 units of the deluxe modelfor the year.1. Compute each department's total number of budgeted direct labor hours for the year.2. Compute departmental overhead rates for each department using direct labor hours for that department.3. Compute overhead cost per unit for each model using departmental overhead rates. Actual direct labor hours for the standardmodel are 7 in Assembly and 1 in Finishing. Actual direct labor hours for the deluxe model are 10 in Assembly and 3 in Finishing.Complete this question by entering your answers in the tabs below.Required 11Required 2Required 3Compute each department's total number of budgeted direct labor hours for the year.*

The objective of the question is to compute the total number of budgeted direct labor hours for the…

Answered: Exercise 4-6 (Algo) Computing…

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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Xuereb Manufacturing Company manufactures blue rugs, using wool and dye as direct materials. One rug is budgeted to use 35 skeins of wool at a cost of $6 per skein and 0.8 gallons of dye at a cost of $10 per gallon. All other materials are indirect. At the beginning of the year Xuereb has an inventory of 466,000 skeins of wool at a cost of $1,165,000 and 4,400 gallons of dye at a cost of $27,280. Target ending inventory of wool and dye is zero. Xuereb uses the FIFO inventory cost flow method. A (Click the icon to view the additional information.) There is no direct manufacturing labor cost for dyeing. Xuereb budgets 50 direct manufacturing labor-hours to weave a rug at a budgeted rate of $17 per hour. It budgets 0.2 machine-hours to dye each skein in the dyeing process. E (Click the icon to view the budgeted overhead costs.) Read the requirements. Requirement 1. Prepare a direct material usage budget in both units and dollars. More Info Begin with the physical units portion, then…
Exercise 17-9 (Algo) Allocating overhead using plantwide rate and departmental rates LO P1, P2 Laval produces lighting fixtures. Budgeted information for its two production departments follows. The departments use machine hours (MH) and direct labor hours (DLH). Fabricating Assembly Overhead cost $ 1,000,000 $ 384,000 Direct labor hours 125,000 DLH 48,000 DLH Machine hours 100,000 MH 82,500 MH Laval reports the following for one of its products, a desk lamp. Number of Units Fabricating Department Assembly Department Direct Labor Hours per Unit Machine Hours per Unit Direct Labor Hours per Unit Machine Hours per Unit Desk lamp 5,000 4 DLH per unit 2 MH per unit 1 DLH per unit 0.4 MH per unit Required:1. Determine the plantwide overhead rate using 173,000 direct labor hours as the allocation base.2. Determine the overhead cost per unit for the desk lamp using the plantwide overhead rate.3. Compute departmental overhead rates based on machine hours in the…
Exercise 17-9 (Algo) Allocating overhead using plantwide rate and departmental rates LO P1, P2 Laval produces lighting fixtures. Budgeted information for its two production departments follows. The departments use machine hours (MH) and direct labor hours (DLH). Fabricating Overhead cost $ 1,280,000 Direct labor hours Machine hours 182,500 DLH 80,000 MH Assembly $ 420,000 30,000 DLH 73,500 MH Laval reports the following for one of its products, a desk lamp. Number of Desk lamp Units 5,000 Required: Fabricating Department Assembly Department Direct Labor Hours Machine Hours per Direct Labor Hours Machine Hours per per Unit per Unit Unit 5 DLH per unit 4 MH per unit Unit 3 DLH per unit 0.5 MH per unit 1. Determine the plantwide overhead rate using 212,500 direct labor hours as the allocation base. 2. Determine the overhead cost per unit for the desk lamp using the plantwide overhead rate. 3. Compute departmental overhead rates based on machine hours in the Fabricating department and…
Question 3 MCC Company produces one product, Motorbikes. Because of wide fluctuations in the demand for Motorbikes, the assembly department has significant variations in its monthly production levels The annual master manufacturing overhead budget is based on 300,000 direct labour hours. In July, 27,500 labour hours were worked. The master manufacturing overhead budget for the year and the actual overhead costs incurred in July are as follows: Overhead Costs Master Budget (annual) Actual in July Variable Indirect labour 330,000 $29,000 Indirect materials 180,000 14,000 Utilities 150,000 13,900 Maintenance 90,000 8,350 Fixed Supervision 150,000 12,500 Depreciation 96,000 8,000 Insurance and taxes 60,000 5,000 Total $1,056,000 $90,750 Required: Prepare a monthly flexible overhead budget for the year…
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Question 5 Emma Co manufactures electric motors. The company expects to sell 440 units in June and 585 units in July. Beginning and ending finished goods for June is expected to be 40 and 95 units, respectively. July's ending finished goods is expected to be 125 units. The company's variable manufacturing overhead is $4 per unit produced and its fixed manufacturing overhead is $6220 per month. Emma's manufacturing overhead budget for July $ tiap. 5.0
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Answer numbers 4-6.
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4- B.4.B. Salsa has two service departments, the IT Department and HR Department. Salsa has also two production departments, the Cutting department and the Mixing Department. The usage of the two service departments' output for the year is as follows: Provider of Service User of Service IT HR HR 15 % IT 5 % Cutting 45 % 65 % Mixing 40 % 30 % The budgeted costs in the two service departments for the year as follows: IT: $ 120,000 HR: $ 280,000 Use reciprocal services method to allocate the budgeted costs of the two service departments on production departments.

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