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Galactic Incorporated manufactures flying drone toys. Sales units for January, February, March, April, and May were 520, 500, 572, 532, and 600 respectively. Each unit requires 3 direct labor hours and Galactic's hourly labor rate is $26 per hour. The company's variable overhead is $15 per unit produced and its fixed overhead is $6,600 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 $23.25.) 2. Determine Galactic's budgeted cost of goods sold for January and February. Complete this question by entering your answers in the tabs below.

Galactic Incorporated manufactures flying drone toys. Sales units for January, February, March, April, and May were 520, 500, 572, 532, and 600 respectively. Each unit requires 3 direct labor hours and Galactic's hourly labor rate is $26 per hour. The company's variable overhead is $15 per unit produced and its fixed overhead is $6,600 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 $23.25.) 2. Determine Galactic's budgeted cost of goods sold for January and February. Complete this question by entering your answers in the tabs below.

FINANCIAL ACCOUNTING
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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Galactic Incorporated manufactures flying drone toys. Sales units for January, February, March, April, and May were 520, 500, 572, 532, and 600 respectively. Each unit requires 3 direct labor hours and Galactic's hourly labor rate is $26 per hour. The company's variable overhead is $15 per unit produced and its fixed overhead is $6,600 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 $23.25.) 2. Determine Galactic's budgeted cost of goods sold for January and February. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine Galactic's budgeted manufacturing cost per drone. (Note: assume that fixed overhead per unit is $23.25.) Note: Round your answer to 2 decimal places. Manufacturing cost per unit
Transcribed Image Text:Galactic Incorporated manufactures flying drone toys. Sales units for January, February, March, April, and May were 520, 500, 572, 532, and 600 respectively. Each unit requires 3 direct labor hours and Galactic's hourly labor rate is $26 per hour. The company's variable overhead is $15 per unit produced and its fixed overhead is $6,600 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 $23.25.) 2. Determine Galactic's budgeted cost of goods sold for January and February. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine Galactic's budgeted manufacturing cost per drone. (Note: assume that fixed overhead per unit is $23.25.) Note: Round your answer to 2 decimal places. Manufacturing cost per unit
Galactic Incorporated manufactures flying drone toys. Sales units for January, February, March, April, and May were 520, 500, 572, 532, and 600 respectively. Each unit requires 3 direct labor hours and Galactic's hourly labor rate is $26 per hour. The company's variable overhead is $15 per unit produced and its fixed overhead is $6,600 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 $23.25.) 2. Determine Galactic's budgeted cost of goods sold for January and February. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine Galactic's budgeted cost of goods sold for January and February. Note: Do not round your intermediate calculations. Budgeted cost of goods sold January February
Transcribed Image Text:Galactic Incorporated manufactures flying drone toys. Sales units for January, February, March, April, and May were 520, 500, 572, 532, and 600 respectively. Each unit requires 3 direct labor hours and Galactic's hourly labor rate is $26 per hour. The company's variable overhead is $15 per unit produced and its fixed overhead is $6,600 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 $23.25.) 2. Determine Galactic's budgeted cost of goods sold for January and February. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine Galactic's budgeted cost of goods sold for January and February. Note: Do not round your intermediate calculations. Budgeted cost of goods sold January February
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