Factory Overhead Cost Budget It Is This Company budgeted the following costs for anticipated production for August: Advertising expenses Manufacturing supplies Power and light $236,320 12,950 38,630 Sales commissions 264,220 Factory insurance 22,490 Production supervisor wages 113,620 Production control wages 29,540 Executive officer salaries 240,860 < Materials management wages Factory depreciation 32,490 18,410 Variable factory overhead costs: Prepare a factory overhead cost budget, separating variable and fixed costs. Assume that factory insurance and depreciation are the only fixed costs. Enter all amounts as positive number IT IS THIS COMPANY Factory Overhead Cost Budget For the Month Ending August 31 Lind Them Description Amount Amount Total variable factory overhead costs Fixed factory overhead costs: Total fixed factory overhead costs Total factory overhead costs 00

Factory Overhead Cost Budget It Is This Company budgeted the following costs for anticipated production for August: Advertising expenses Manufacturing supplies Power and light $236,320 12,950 38,630 Sales commissions 264,220 Factory insurance 22,490 Production supervisor wages 113,620 Production control wages 29,540 Executive officer salaries 240,860 < Materials management wages Factory depreciation 32,490 18,410 Variable factory overhead costs: Prepare a factory overhead cost budget, separating variable and fixed costs. Assume that factory insurance and depreciation are the only fixed costs. Enter all amounts as positive number IT IS THIS COMPANY Factory Overhead Cost Budget For the Month Ending August 31 Lind Them Description Amount Amount Total variable factory overhead costs Fixed factory overhead costs: Total fixed factory overhead costs Total factory overhead costs 00

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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Performance Eval - Variances:
Factory Overhead Cost Budget Sweet Tooth Candy Company budgeted the following costs for anticipated production for August: Advertising expenses Manufacturing supplies Power and light Sales commissions Factory insurance Production supervisor wages Production control wages Executive officer salaries Materials management wages Factory depreciation Prepare a factory overhead cost budget, separating variable and fixed costs. Assume that factory insurance and depreciation are the only fixed factory costs. $297,290 16,290 48,600 328,580 28,300 142,930 37,160 303,010 40,880 23,150 Sweet Tooth Candy Company Factory Overhead Cost Budget For the Month Ending August 31 Variable factory overhead costs: Total variable factory overhead costs Fixed factory overhead costs: Total fixed factory overhead costs Total factory overhead costs
Factory Overhead Cost Variance Report Feeling Better Medical Inc., a manufacturer of disposable medical supplies, prepared the following factory overhead cost budget for the Assembly Department for October of the current year. The company expected to operate the department at 100% of normal capacity of 5,000 hours. Variable costs: Indirect factory wages Power and light Indirect materials Total variable cost Fixed costs: Supervisory salaries Depreciation of plant and equipment $17,000 10,150 8,150 Normal capacity for the month 5,000 hrs. Actual production for the month 5,300 hrs. $10,350 26,550 8,100 Insurance and property taxes Total fixed cost Total factory overhead cost. During October, the department operated at 5,300 standard hours, and the factory overhead costs incurred were indirect factory wages, $18,200; power and light, $10,570; indirect materials, $8,800; supervisory salaries, $10,350; depreciation of plant and equipment, $26,550; and insurance and property taxes, $8,100.…
A report for a company's Assembly Department for the month of March follows: Assembly Department Cost Report For the Month Ended March 31 Machine-hours Variable costs: Supplies Scrap Indirect materials Fixed costs: Actual Master Budget Results 15,000 Variances 20,000 $ 10,800 39,200 111,800 $ 11,400 42,000 133,500 $ 600 F 2,800 F 21,700 F 83,500 108,000 78,000 108,000 5,500 U e $ 353,300 $ 372,900 $ 19,600 F Wages and salaries Equipment depreciation Total cost Required: Prepare a flexible budget performance report for the month of March.
Budgeted variable factory overhead costs: $354,000 Budgeted production in units: 60,000 units Budgeted time: 2 direct labor hours per unit Allocation base: direct labor hours Actual production in units: 58,600 units Actual variable factory overhead costs incurred: $338,500 Actual direct labor hours used: 119,000 hours CALCULATE VARIABLE FACTORY OVERHEAD ALLOCATED: Allocated: $__________ CALCULATE VARIABLE FACTORY OVERHEAD SPENDING (PRICE) VARIANCE :…
Factory Overhead Cost Variance Report Tannin Products Inc. prepared the following factory overhead cost budget for the Trim Department for July of the current year, during which it expected to use 14,000 hours for production: Variable overhead costs: Indirect factory labor $44,800 Power and light 10,780 Indirect materials 21,000 Total variable overhead cost $76,580 Fixed overhead costs: Supervisory salaries $61,560 Depreciation of plant and equipment 16,200 Insurance and property taxes 30,240 Total fixed overhead cost 108,000 Total factory overhead cost $184,580 Tannin has available 18,000 hours of monthly productive capacity in the Trim Department under normal business conditions. During July, the Trim Department actually used 13,000 hours for production. The actual fixed costs were as budgeted. The actual variable overhead for July was as follows: Actual variable factory overhead costs: Indirect factory labor $40,560…
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Multiple Production Department Factory Overhead Rate Method costs were budgeted as follows: The direct labor estimated for each production department was as follows: Pattern Department 2,000 direct labor hours Cut and Sew Department, 2, 500 Total direct labor hours records as follows: If required, round all per unit answers to the nearest cent, a. Determine the two production department factory overhead rates. b. Use the two production department factory overhead rates to determine the factory overhead per unit for each product.
Factory Overhead Cost Variance Report Feeling Better Medical Inc., a manufacturer of disposable medical supplies, prepared the following factory overhead cost budget for the Assembly Department for October of the current year. The company expected to operate the department at 100% of normal capacity of 9,000 hours. Variable costs: Indirect factory wages $27,900 Power and light 21,420 Indirect materials 18,720 Total variable cost $68,040 Fixed costs: Supervisory salaries $15,110 Depreciation of plant and equipment 38,760 Insurance and property taxes 11,830 Total fixed cost 65,700 Total factory overhead cost $133,740 During October, the department operated at 9,500 standard hours, and the factory overhead costs incurred were indirect factory wages, $29,740; power and light, $22,200; indirect materials, $20,200; supervisory salaries, $15,110; depreciation of plant and equipment, $38,760; and insurance and…
Question Content Area Production, Direct Labor, Direct Materials, Sales Budgets, Budgeted Contribution Margin Laghari Company makes and sells high-quality glare filters for microcomputer monitors. John Tanaka, controller, is responsible for preparing Laghari's master budget and has assembled the following data for the coming year. The direct labor rate includes wages, all employee-related benefits, and the employer's share of FICA. Labor saving machinery will be fully operational by March. Also, as of March 1, the company's union contract calls for an increase in direct labor wages that is included in the direct labor rate. Laghari expects to have 5,600 glare filters in inventory on December 31 of the current year, and has a policy of carrying 35 percent of the following month's projected sales in inventory. Information on the first four months of the coming year is as follows: January February March April Estimated unit sales 36,000 34,500 39,000 38,600 Sales price per unit…