The Bakery Department of Culbert Dessert Corporation has submitted the following forecast of fruit pies to be produced by quarter forthe upcoming fiscal year.Units to be producedFirstQuarter9,300Second ThirdQuarter Quarter12,300 10,300Units to be producedDirect labour time per unit (hours)Total direct labour-hours neededDirect labour cost per hourTotal direct labour costEach unit requires 0.40 direct labour-hours, and direct labour-hour workers are paid $9.00 per hour.In addition, the variable manufacturing overhead rate is $1.00 per direct labour-hour. The fixed manufacturing overhead is $26,250 perquarter. The only non-cash element of manufacturing overhead is depreciation, which is $7,650 per quarter.Required:1. Prepare the company's direct labour budget for the upcoming fiscal year, assuming that the direct labour workforce is adjusted eachquarter to match the number of hours required to produce the forecast number of units produced.FourthQuarter14,300Culbert Dessert CorporationDirect Labour BudgetSecondQuarterFirstQuarterThirdQuarterFourthQuarterYear2. Prepare the company's manufacturing overhead budget. As per Schedule 5, your manufacturing overhead budget should alsoinclude the budgeted cash disbursements for overhead. 2. Prepare the company's manufacturing overhead budget. As per Schedule 5, your manufacturing overhead budget should alsoinclude the budgeted cash disbursements for overhead.Budgeted direct labour-hoursVariable overhead rateVariable manufacturing overheadFixed manufacturing overheadTotal manufacturing overheadCash disbursements for manufacturing overheadCulbert Dessert CorporationManufacturing Overhead BudgetFirstQuarter< PrevՈ.SecondQuarter3 of 7ThirdQuarterFourthQuarter# Next >Year4

Direct Labour Cost Budget Calculates The Total Direct Labour - Hours Needed To Manufacture The Units…

he Bakery Department of Culbert Dessert Corporation has submitted the following forecast of fruit pies to be pr e upcoming fiscal year. Units to be produced First Second Third Quarter Quarter Quarter 9,300 12,300 10,300 Fourth Quarter 14,300

he Bakery Department of Culbert Dessert Corporation has submitted the following forecast of fruit pies to be pr e upcoming fiscal year. Units to be produced First Second Third Quarter Quarter Quarter 9,300 12,300 10,300 Fourth Quarter 14,300

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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Concept explainers

Master Budget

A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.

Sales Budget and Selling

A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.

Question

The Bakery Department of Culbert Dessert Corporation has submitted the following forecast of fruit pies to be produced by quarter for
the upcoming fiscal year.
Units to be produced
First
Quarter
9,300
Second Third
Quarter Quarter
12,300 10,300
Units to be produced
Direct labour time per unit (hours)
Total direct labour-hours needed
Direct labour cost per hour
Total direct labour cost
Each unit requires 0.40 direct labour-hours, and direct labour-hour workers are paid $9.00 per hour.
In addition, the variable manufacturing overhead rate is $1.00 per direct labour-hour. The fixed manufacturing overhead is $26,250 per
quarter. The only non-cash element of manufacturing overhead is depreciation, which is $7,650 per quarter.
Required:
1. Prepare the company's direct labour budget for the upcoming fiscal year, assuming that the direct labour workforce is adjusted each
quarter to match the number of hours required to produce the forecast number of units produced.
Fourth
Quarter
14,300
Culbert Dessert Corporation
Direct Labour Budget
Second
Quarter
First
Quarter
Third
Quarter
Fourth
Quarter
Year
2. Prepare the company's manufacturing overhead budget. As per Schedule 5, your manufacturing overhead budget should also
include the budgeted cash disbursements for overhead.

2. Prepare the company's manufacturing overhead budget. As per Schedule 5, your manufacturing overhead budget should also
include the budgeted cash disbursements for overhead.
Budgeted direct labour-hours
Variable overhead rate
Variable manufacturing overhead
Fixed manufacturing overhead
Total manufacturing overhead
Cash disbursements for manufacturing overhead
Culbert Dessert Corporation
Manufacturing Overhead Budget
First
Quarter
< Prev
Ո.
Second
Quarter
3 of 7
Third
Quarter
Fourth
Quarter
# Next >
Year
4

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