Please do not give solution in image format thanku Galactic Inc. manufactures flying dronetoys. Sales units for January, February,March, April and May were 580, 560,632, 592, and 660 respectively. Eachunit requires 3 direct labor hours andGalactic's hourly labor rate is $29 perhour. The company's variableoverhead is $18 per unit produced andits fixed overhead is $6,900 per month.Use the information presented tocomplete the requirements. The dronetoy includes 4 LED lights, which cost$15 each.Required:1. Determine Galactic's budgetedmanufacturing cost per drone. (Note:assume that fixed overhead per unit is$24.75.)2. Determine Galactic's budgeted costof goods sold for January andFebruary.

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Description: Please do not give solution in image format thanku Galactic Inc. manufactures flying dronetoys. Sales units for January, February,March, April and May were 580, 560,632, 592, and 660 respectively. Eachunit requires 3 direct labor hours andGalactic's

Cost of goods sold -The total of all expenses incurred in producing an item or service that has…

Answered: Galactic Inc. manufactures flying drone…

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Galactic Inc. manufactures flying drone toys. Sales units for January, February, March, April and May were 580, 560, 632, 592, and 660 respectively. Each unit requires 2 direct labor hours and

FINANCIAL ACCOUNTING

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ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Concept explainers

Variance Analysis

In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.

Standard Costing

The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.

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Question

Please do not give solution in image format thanku

Galactic Inc. manufactures flying drone
toys. Sales units for January, February,
March, April and May were 580, 560,
632, 592, and 660 respectively. Each
unit requires 3 direct labor hours and
Galactic's hourly labor rate is $29 per
hour. The company's variable
overhead is $18 per unit produced and
its fixed overhead is $6,900 per month.
Use the information presented to
complete the requirements. The drone
toy includes 4 LED lights, which cost
$15 each.
Required:
1. Determine Galactic's budgeted
manufacturing cost per drone. (Note:
assume that fixed overhead per unit is
$24.75.)
2. Determine Galactic's budgeted cost
of goods sold for January and
February.

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