Galactic Incorporated manufactures flying drone toys. Sales units for January, February, March, April, and May were 440, 420, 492, 452, and 520 respectively. Budgeted production in units for January, February, and March were 435, 438, and 482 respectively. Each unit requires 3 direct labor hours and Galactic's hourly labor rate is $22 per hour. The company's variable overhead is $11.00 per unit produced and its fixed overhead is $6,200 per month. Required: 1. Determine the Galactic's direct labor budget for the first quarter. 2. Determine the Galactic's manufacturing overhead budget for the first quarter. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine the Galactic's direct labor budget for the first quarter. February Budgeted direct labor cost January < Required 1 March 1st Quarter $ Required 2 > 0
Galactic Incorporated manufactures flying drone toys. Sales units for January, February, March, April, and May were 440, 420, 492, 452, and 520 respectively. Budgeted production in units for January, February, and March were 435, 438, and 482 respectively. Each unit requires 3 direct labor hours and Galactic's hourly labor rate is $22 per hour. The company's variable overhead is $11.00 per unit produced and its fixed overhead is $6,200 per month. Required: 1. Determine the Galactic's direct labor budget for the first quarter. 2. Determine the Galactic's manufacturing overhead budget for the first quarter. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine the Galactic's direct labor budget for the first quarter. February Budgeted direct labor cost January < Required 1 March 1st Quarter $ Required 2 > 0
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Galactic Incorporated manufactures flying drone toys. Sales units for January, February, March, April, and May were 440, 420, 492,
452, and 520 respectively. Budgeted production in units for January, February, and March were 435, 438, and 482 respectively. Each
unit requires 3 direct labor hours and Galactic's hourly labor rate is $22 per hour. The company's variable overhead is $11.00 per unit
produced and its fixed overhead is $6,200 per month.
Required:
1. Determine the Galactic's direct labor budget for the first quarter.
2. Determine the Galactic's manufacturing overhead budget for the first quarter.
Complete this question by entering your answers in the tabs below.
Required 1 Required 2
Determine the Galactic's direct labor budget for the first quarter.
February
Budgeted direct labor cost
January
< Required 1
March
1st Quarter
$
Required 2 >
0
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