Interpreting Cost Formula Wylie Enterprises' controller, Josh Senior, estimated the following formula, based on monthly data, for total overhead cost: Overhead costs = $173,500+ ($43.50 x Direct labor hours) Required 1) Link each term in Column A to the corresponding term in Column B Column B Column A Overhead cost ✦ $173,500 ◆ $43.50 ◆ Direct labor hours ✦ 2) If next month's budgeted direct labor hours equal 8,000, and are within the relevant range, what is the budgeted overhead cost? $0 3) If next quarter's budgeted direct labor hours equal 26,000, and are within the relevant range, what is the budgeted overhead cost? $0 4) If next year's budgeted direct labor hours equal 101,250, and are within the relevant range, what is the budgeted overhead cost? $0

Interpreting Cost Formula Wylie Enterprises' controller, Josh Senior, estimated the following formula, based on monthly data, for total overhead cost: Overhead costs = $173,500+ ($43.50 x Direct labor hours) Required 1) Link each term in Column A to the corresponding term in Column B Column B Column A Overhead cost ✦ $173,500 ◆ $43.50 ◆ Direct labor hours ✦ 2) If next month's budgeted direct labor hours equal 8,000, and are within the relevant range, what is the budgeted overhead cost? $0 3) If next quarter's budgeted direct labor hours equal 26,000, and are within the relevant range, what is the budgeted overhead cost? $0 4) If next year's budgeted direct labor hours equal 101,250, and are within the relevant range, what is the budgeted overhead cost? $0

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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Assume that a company provided the following cost formulas for three of its expenses (where q refers to the number of hours worked): Rent (fixed) Supplies (variable) Utilities (mixed) $ 3,000 $ 4.00g $ 205 + $ 0.759 The company's planned level of activity was 2,000 hours and its actual level of activity was 1,900 hours. How much utilities expense would be included in the planning budget? Multiple Choice $1,500 $1,630 $1,705 $1,730
Check my work The Production Department of Hruska Corporation has submitted the following forecast of units to be produced by quarter for the upcoming fiscal year: 1st Quarter 2nd Quarter 11,800 10,800 3rd Quarter 12,800 Units to be produced Each unit requires 0.20 direct labor-hours and direct laborers are paid $16.00 per hour. In addition, the variable manufacturing overhead rate is $1.75 per direct labor-hour. The fixed manufacturing overhead is $98,000 per quarter. The only noncash element of manufacturing overhead is depreciation, which is $38,000 per quarter. Required: 1. Calculate the company's total estimated direct labor cost for each quarter of the upcoming fiscal year and for the year as a whole. 2. and 3. Calculate the company's total estimated manufacturing overhead cost and the cash disbursements for manufacturing overhead for each quarter of the upcoming fiscal year and for the year as a whole. Complete this question by entering your answers in the tabs below. Req 1 Req…
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Gibson Corporation’s balance sheet indicates that the company has $580,000 invested in operating assets. During the year, Gibson earned operating income of $67,280 on $1,160,000 of sales. Required Compute Gibson’s profit margin for the year. Compute Gibson’s turnover for the year. Compute Gibson’s return on investment for the year. Recompute Gibson’s ROI under each of the following independent assumptions:(1) Sales increase from $1,160,000 to $1,392,000, thereby resulting in an increase in operating income from $67,280 to $76,560.(2) Sales remain constant, but Gibson reduces expenses, resulting in an increase in operating income from $67,280 to $69,600.(3) Gibson is able to reduce its invested capital from $580,000 to $464,000 without affecting operating income.