Flexible Budgeting At the beginning of the period, the Fabricating Department budgeted direct labor of $129,000 and equipment depreciation of $54,000 for 8,600 hours of production. The department actually completed 11,400 hours of production. Determine the budget for the department, assuming that it uses flexible budgeting.

Flexible Budgeting At the beginning of the period, the Fabricating Department budgeted direct labor of $129,000 and equipment depreciation of $54,000 for 8,600 hours of production. The department actually completed 11,400 hours of production. Determine the budget for the department, assuming that it uses flexible budgeting.

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter8: Budgeting

Section: Chapter Questions

Problem 1BE: At the beginning of the period, the Fabricating Department budgeted direct labor of 72,000 and...

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How do I prepare the bugdet and replace all question marks into formula?
4.4 Prepare a direct labor budget for each of the upcoming five years. Direct Labor Budget To determine how many labor hours will be required to create the items listed in the cost of production, the direct labor budget is used. A more intricate direct labor budget will compute both the overall number of hours required and the breakdown of those hours by labor type. Years Required production in 4200 units 2023 Direct labor hours per 0,25 unit Total direct labor- 1,050 hours needed Direct labor cost per hour Total Direct Labor Cost $32 $33600 2024 5200 0,25 1,300 $32 $41600 2025 6200 0,25 1,550 $32 $49600 2026 7200 0,25 1,800 $32 2027 8200 0,25 2,050 $32 $57600 $65600 Total 31000 0,25 7,750 $32 $248000
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The following is the budgeted information of 3Z Company for the year 2021: Service Departments Producing Departments S1 S2 P1 P2 Budgeted overhead before distribution of service costs Direct labor hours Machine hours Number of employees Area occupied (sq ft) P300,000.00 P 150,000.00 P1,500,000.00 P750,000.00 6,000 45,400 25 30,000 33,250 5,000 150 50,000 13 8 4,200 1,500 Actual prime cost for the last quarter Of 2021 in the production of 15,000 units of Product MM is summarized below: P1 P2 11,250 hrs Direct labor hours 1,200 DLh @ P35 6,550 DLH @ P35 Machine hours 1,250 hrs Materials P75 per unit P5 per unit Additional information: • The company computes predetermined overhead rates based on machine hours in P1 and direct labor hours in P2, after distributing service costs using direct method. Sl costs are distributed based on area occupied and S2 costs are based on number of employees. Required: Compute for the total production costs of Product MM.
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Prepare a direct labor budget for each of the upcoming five years. Cost labor per unit = $8 Total direct labor hours needed for a period = Number of units to be produced in that period * Direct labors hours needed per unit Total direct labor costs needed to meet production =Total direct labor hours needed for that period * Direct labor cost per hour