Iota Inc. prepared its static budget for producing 15,000 units of one of its products for the next quarter using the following cost data: Static Budget Costs Amounts Direct materials costs per unit $8 Direct labor costs per unit $5 Variable Manufacturing overhead costs per unit $4 Fixed costs for the quarter $20,000 A flexible budget for 20,000 units of production would show: Group of answer choices Direct material costs of $160,000, direct labor costs of $100,000, variable manufacturing costs of $80,000 and fixed costs of $20,000 Direct material costs of $160,000, direct labor costs of $100,000, variable manufacturing costs of $80,000 and fixed costs of $26,667 Direct material costs of $120,000, direct labor costs of $75,000, variable manufacturing costs of $60,000 and fixed costs of $15,000 Direct material costs of $120,000, direct labor costs of $75,000, variable manufacturing costs of $60,000 and fixed costs of $20,000
Iota Inc. prepared its static budget for producing 15,000 units of one of its products for the next quarter using the following cost data: Static Budget Costs Amounts Direct materials costs per unit $8 Direct labor costs per unit $5 Variable Manufacturing overhead costs per unit $4 Fixed costs for the quarter $20,000 A flexible budget for 20,000 units of production would show: Group of answer choices Direct material costs of $160,000, direct labor costs of $100,000, variable manufacturing costs of $80,000 and fixed costs of $20,000 Direct material costs of $160,000, direct labor costs of $100,000, variable manufacturing costs of $80,000 and fixed costs of $26,667 Direct material costs of $120,000, direct labor costs of $75,000, variable manufacturing costs of $60,000 and fixed costs of $15,000 Direct material costs of $120,000, direct labor costs of $75,000, variable manufacturing costs of $60,000 and fixed costs of $20,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Iota Inc. prepared its static budget for producing 15,000 units of one of its products for the next quarter using the following cost data:
Static Budget| Costs | Amounts |
|---|---|
| Direct materials costs per unit | $8 |
| Direct labor costs per unit | $5 |
| Variable |
$4 |
| Fixed costs for the quarter | $20,000 |
A flexible budget for 20,000 units of production would show:
Group of answer choices
Direct material costs of $160,000, direct labor costs of $100,000, variable manufacturing costs of $80,000 and fixed costs of $20,000
Direct material costs of $160,000, direct labor costs of $100,000, variable manufacturing costs of $80,000 and fixed costs of $26,667
Direct material costs of $120,000, direct labor costs of $75,000, variable manufacturing costs of $60,000 and fixed costs of $15,000
Direct material costs of $120,000, direct labor costs of $75,000, variable manufacturing costs of $60,000 and fixed costs of $20,000
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