Gizmo Whiz manufactures premium food processors. The following are some manufacturing overhead (MOH) data for Gizmo Whiz for the year ended December 31, 2020(Click the loon to view the overhead data)Read the requirements1. The budgeted number of machine-hours planned in2. The budgeted fixed manufacturing overhead costs per machine-hour is3. The budgeted variable manufacturing overhead costs per machine-hour is4. The budgeted number of machine-hours allowed for actual output produced in5. The actual number of output units is(Round your answer to one decimal place.)6. Actual number of machine-hours used per outpul unit is Data tableManufacturing OverheadVariableFixed$ActualResults79,170 $350,205Budgeted number of output units: 588Planned allocation rate: 3 machine-hours par unitFlexibleBudget78,000 $347,508Actual number of machine-hours used: 1,885Static-budget variable manufacturing overhead costs: $70,560AllocatedAmount78,000376,280- X

Name: Gizmo Whiz manufactures premium food processors. The following are so
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Description: Gizmo Whiz manufactures premium food processors. The following are some manufacturing overhead (MOH) data for Gizmo Whiz for the year ended December 31, 2020(Click the loon to view the overhead data)Read the requirements1. The budgeted number of mac

Budgeted number of machine-hours planned=Budgeted units×Planned allocation rate Budgeted fixed…

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Gizmo Whiz manufactures premium food processors. The following are some manufacturing overhead (MOH) data for Gizmo Whiz for the year ended December 31, 2020 (Click the icon to view the overhead dats) Read the requirements 1. The budgeted number of machine-hours planned in 2. The budgeted fixed manufacturing overhead costs por machine-hour is 3. The budgeted variable manufacturing overhead costs per machine-hour is 000 4. The budgeted number of machine-hours allowed for actual output produced is 5. The actual number of output units is Round your answer to one decimal place) . Actual number of machine-hours used per outpul unit is

Gizmo Whiz manufactures premium food processors. The following are some manufacturing overhead (MOH) data for Gizmo Whiz for the year ended December 31, 2020 (Click the icon to view the overhead dats) Read the requirements 1. The budgeted number of machine-hours planned in 2. The budgeted fixed manufacturing overhead costs por machine-hour is 3. The budgeted variable manufacturing overhead costs per machine-hour is 000 4. The budgeted number of machine-hours allowed for actual output produced is 5. The actual number of output units is Round your answer to one decimal place) . Actual number of machine-hours used per outpul unit is

FINANCIAL ACCOUNTING

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Chapter1: Financial Statements And Business Decisions

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Blue Spruce Welding rebuilds spot welders for manufacturers. The following budgeted cost data for 2022 is available for Blue Spruce. Technicians' wages and benefits Parts manager's salary and benefits Office employee's salary and benefits Other overhead (a) Total budgeted costs Compute the rate charged per hour of labor. Time Charges $202,800 Labor rate $ 39,000 7,800 $249,600 The company desires a $39 profit margin per hour of labor and a 28% profit margin on parts. It has budgeted for 7,800 hours of repair time in the coming year, and estimates that the total invoice cost of parts and materials in 2022 will be $416,000. Material Loading Charges per hour $39,300 14,780 29,120 $83,200
Packaging Solutions Corporation manufactures and sells a wide variety of packaging products. Its Production Department's planning budget and flexible budget are based on the following formulas, where q is the number of labor-hours worked in a month: Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Direct labor Indirect labor Utilities Supplies Equipment depreciation Cost Formulas $16.309 $4,200+ $1.809 $5,800+ $0.909 $1,800+ $0.109 The Production Department planned to work 4,200 labor-hours in March; however, it actually worked 4,000 labor-hours during the month. Its actual costs incurred in March are listed below: Factory rent Property taxes Factory administration $18,600 + $2.609 $8,100 $2,800 $13,300 + $0.709 Actual Cost Incurred in March $ 66,780 $ 10,940 $ 9,970 $ 2,430 $ 29,000 $ 8,500 $ 2,800 $ 15,470 Required: 1. Prepare the Production Department's planning budget for the month.
Zizi plc uses a standard absorption costing system and produces and sells product 8W. The standard cost card is below: Product 8W (€ per unit) Direct material (5 per kg) 15 Direct labour (6 per hour) 12 Fixed manufacturing overhead 10 Total production cost 37 Standard profit 13 Standard selling price 50 * Absorption rate based on standard labour hours Budgeted and actual production and sales units for december 2020 were as follows: Budget Actual Production 1,100 900 Sales 1,000 800 Actual data for December 2020 were as follows € Direct material purchases 1,200 kgs costing 12,000 Direct materials used 1,100 kgs Direct labour hours 500 hours costing 6,000 Fixed manufacturing overhead 5,000 Sales revenue 30,000 An analysis of the Direct labour hours shows that the 500 hours that were paid for 50 were idle time due to a machinery breakdown. There were no inventories of Direct materials or finished products (planned or actual) at the…
The following data get out from Samsung industrial company: Direct materials costs JD 75 Direct manufacturing labor costs 20 Variable manufacturing overhead costs 15 Fixed overhead costs 28 Each TV need to 0.75 hour, and each hour by JD 31.5. The number of units manufactured is the cost driver for direct materials, direct manufacturing labor, and variable manufacturing overhead. The relevant range for the cost driver is from 0 to 6,000 TV. Budgeted and actual data for November 2019 are: Budgeted fixed costs for production JD 141, 750 Budgeted selling price JD 138 per unit Actual selling price 152.75 per unit Revenue at budgeted…
Packaging Solutions Corporation manufactures and sells a wide variety of packaging products. Its Production Department's planning budget and flexible budget are based on the following formulas, where q is the number of labor-hours worked in a month: Direct labor Indirect labor Utilities Cost Formulas $16.60q $4,300 +$1.60q $5,700 +$0.40q Supplies $1,200 + $0.20q Equipment depreciation Factory rent $18,600 + $2.80q $8,400 $2,500 Property taxes Factory administration $13,100 +$0.50q The Production Department planned to work 4,500 labor-hours in March; however, it actually worked 4,300 labor-hours during the month. Its actual costs incurred in March are listed below: Actual Cost Incurred in March $ 73,020 Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Required: $ 10,680 $ 7,890 $ 2,310 $ 30,640 $ 8,800 $ 2,500 $ 14,580 1. Prepare the Production Department's planning budget for the month. 2. Prepare the Production…
King Whiz manufactures premium food processors. The following are some manufacturing overhead data for King Whiz for the year ended December 31, 2017: Manufacturing Overhead Actual Results Flexible Budget Allocated Amount Variable $41,861 $74,646 $74,646 Fixed 350,225 349,200 376,300 Budgeted number of output units: 600 Planned allocation rate: 3 machine-hours per unit Actual number of machine-hours used: 1,021 Static-budget variable manufacturing overhead costs: $70,200 Compute the following quantities (you should be able to do so in the prescribed order): 1. Budgeted number of machine-hours planned 2. Budgeted fixed manufacturing overhead costs per machine-hour 3. Budgeted variable manufacturing overhead costs per machine-hour 4. Budgeted number of machine-hours allowed for actual output produced 5. Actual number of output units 6. Actual number of machine-hours used per output unit
Packaging Solutions Corporation manufactures and sells a wide variety of packaging products. Performance reports are prepared monthly for each department. The planning budget and flexible budget for the Production Department are based on the following formulas, where q is the number of labor-hours worked in a month: Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration. Cost Formulas $16.10q $4,100 +$1.60q $5,400 + $0.40q $1,400 +$0.10q $18,600 + $2.50q $8,100 $2,700 $13,600 +$0.90q The Production Department planned to work 4,400 labor-hours in March; however, it actually worked 4,200 labor-hours during the month. Its actual costs incurred in March are listed below: Direct labor Actual Cost Incurred in March $ 69,160 $ 10,320 $ 7,550 Indirect labor Utilities Supplies Factory rent $ 2,050 Equipment depreciation $ 29,100 $ 8,500 $ 2,700 $ 16,790 Property taxes Factory administration Required: 1. Prepare the Production…