EXERCISE 8-4 Direct Labor Budget LO8-5 The production manager of Rordan Corporation prepared the following quarterly production forecast for next year: 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Units to be produced 8,000 6,500 7,000 7,500 Each unit requires 0.35 direct labor-hour, and direct laborers are paid $15.00 per hour. Required: Using Schedule 4 as your guide, prepare a direct labor budget for next year.

EXERCISE 8-4 Direct Labor Budget LO8-5 The production manager of Rordan Corporation prepared the following quarterly production forecast for next year: 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Units to be produced 8,000 6,500 7,000 7,500 Each unit requires 0.35 direct labor-hour, and direct laborers are paid $15.00 per hour. Required: Using Schedule 4 as your guide, prepare a direct labor budget for next year.

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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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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D Question 5 Witherspoon Inc. has compiled the following data in order to put together their first quarter operating budget for 20XX Sales (units) January 55,200 February 48,000 March 41,000 Apri 37,000 Additional information: Witherspoon sells each unit for $95. Company policy is to have 30% of next month's sales (in units) in ending finished goods inventory. This policy was met in December. Required: 1. What are the total dollar sales for the quarter? Hint: writo out I sales budget but you do not need to show in your answer. 2. (a) What is the desired ending Inventory for February? (b) What are the Total Units to be Produced for the Quarter? Hint: write out a production budget but you do not need to show in your answer.
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Problem 20-1A (Algo) Manufacturing: Preparing production, materials, labor, and overhead budgets LO P1 [The following information applies to the questions displayed below.] Black Diamond Company produces snowboards. Each snowboard requires 1 pounds of carbon fiber. Management reports that 6,500 snowboards and 7,500 pounds of carbon fiber are in inventory at the beginning of the third quarter, and that 165,000 snowboards are budgeted to be sold during the third quarter. Management wants to end the third quarter with 5,000 snowboards and 5,500 pounds of carbon fiber in inventory. Carbon fiber costs $14 per pound. Each snowboard requires 0.5 hour of direct labor at $19 per hour. Variable overhead is budgeted at the rate of $9 per direct labor hour. The company budgets fixed overhead of $1,797,000 for the quarter. Problem 20-1A (Algo) Part 4 4. Prepare the factory overhead budget for the third quarter. BLACK DIAMOND COMPANY Factory Overhead Budget Direct labor hours needed Budgeted…
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Question 18 options: Big Construction's actual results and the Master or Static budget information for the month of May is below. Big Construction is in the process of preparing the flexible budget and understanding the results. ActualResults Flexible Budget Static Budget Sales volume (in units) 13,000 10,000 Sales revenues $275,000 $250,000 Variable costs 200,000 175,000 Contribution Margin 75,000 75,000 Fixed costs 50,500 49,500 Operating profit $24,500 25,500 Using all information above, what is the flexible budget operating profit?
EXERCISES Exercise 1 Jenner Company developed its annual manufacturing overhead budget for its master budget for 2008 as follows: Expected annual operating capacity Variable overhead costs 120,000 Direct Labor Hours Indirect labon Indirect materials $420,000 90,000 30,000 _540,000 Factory supplies Total variable Fixed overhead costs Depreciation Supervision Property taxes Total fixed 180,000 120,000 96,000 396,000 $936,000 Total costs The relevant range for monthly activity is expected to be between 8,000 and 12,000 direct labor hours . Instructions Prepare a flexible budget for a monthly activity level of 8,000 and 9,000 direct labor hours. Exercise 2 Fagan Company uses a flexible budget for manufacturing overhead based on machine hours. Variable manufacturing overhead costs per machine hour are as follows: Indirect labor $5.00 Indirect materials Maintenance Utilities 2.50 50 30 Fixed overhead costs per month are: Supervision Insurance $600 200 Property taxes Depreciation 300 900 The…
Question 6 View Policies Current Attempt in Progress Crane Company determines that 59000 pounds of direct materials are needed for production in July. There are 3700 pounds of direct materials on hand at July 1 and the desired ending inventory is 3300 pounds. If the cost per unit of direct materials is $3, what is the budgeted total cost of direct materials purchases? ort $175800 O $180600. O $178200. O $173400. ea Chp ins prt sc fho 12 home delete % 5 & 7 backspace lock T P hom G H K enter B pause t shift ctri NM N
Exercise 4-31 The Charito Company is planning an overhead budget cost budget for the next month, July, 2021. Past cost studies indicate that costs have followed behavior patterns as given below: Variable Rate Per Hour Indirect materials PO.90 Heat, light & power 1.20 Repairs & maintenance Lubrication 4.60 0.50 In addition, management has estimated fixed factory overhead as follows: Supervision P44,000 36,000 14,500 Indirect labor Heat, light & power 17,200 Repairs & maintenance Taxes & insurance 9,000 Total P129,000 During the next month, the company plans to manufacture 150,000 units of product. Products are produced at the rate of 6 units per hour. Normal plant capacity is 30,000 hours. REQUIRED: 1. Prepare the factory overhead budget for July, 2021. 2. Determine the unused normal capacity, if any.