Calcul xgoogle x s Dallas X B Score x M myboxnow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSession Locator=&inprogress=falseom Order<eBookVariable overhead cost:Indirect factory laborPower and lightIndirect materialsTotal variable overhead costFixed overhead cost:Supervisory salariesDepreciation of plant and equipmentInsurance and property taxesTotal fixed overhead costTotal factory overhead costсPrint ItemDirect labor hoursVariable overhead cost:Indirect factory laborPower and lightCheck My WorkFlexible Overhead BudgetLeno Manufacturing Company prepared the following factory overhead cost budget for the Press Department for October of the current year, during which it expected to require 8,000 hours of productivecapacity in the department:$BE4#3$58,4003,36020,800Leno Manufacturing CompanyFactory Overhead Cost Budget-Press DepartmentFor the Month Ended November 306,000C$28,90018,16011,560%5$82,56058,620$141,1808,000Assuming that the estimated costs for November are the same as for October, prepare a flexible factory overhead cost budget for the Press Department for November for 6,000, 8,000, and 10,000 hours ofproduction. Round your interim computations to the nearest cent, if required. Enter all amounts as positive numbers.10,000✪Cenga x<6&7Cenga xCenga* ∞8G Catho9X(9+Q <+3ChromeOS update for Android.... 30mUpdate required today★Nov 14JE06:40+ 11 ereBookgoog X S Dallas X B Score X M myboxom/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSession Locator=&inprogress=falseSupervisory SalariesDepreciation of plant and equipmentInsurance and property taxesTotal fixed overhead costTotal factory overhead costсDirect labor hoursVariable overhead cost:Indirect factory laborPower and light.Indirect materials#3Total variable factory overheadFixed factory overhead cost:Supervisory salariesDepreciation of plant and equipmentInsurance and property taxesTotal fixed factory overheadTotal factory overhead costLeno Manufacturing CompanyFactory Overhead Cost Budget-Press DepartmentFor the Month Ended November 306,000Check My WorkPrint ItemAssuming that the estimated costs for November are the same as for October, prepare a flexible factory overhead cost budget for the Press Department for November for 6,000, 8,000, and 10,000 hours ofproduction. Round your interim computations to the nearest cent, if required. Enter all amounts as positive numbers.[3$4$Oll$20,30018,16011,560%558,620$141,1808,000 10,000$M$$✪A631Cenga x&7e rty uCenga xCenga*8i69G Catho X(9→+ChromeOS update for Android.... 30mUpdate required todayBQ < ✩O рNov 14-D6:40 0+11PAC

Name: Calcul xgoogle x s Dallas X B Score x M myboxnow.com/ilrn/takeAssignm
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: Calcul xgoogle x s Dallas X B Score x M myboxnow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSession Locator=&inprogress=falseom Order<eBookVariable overhead cost:Indirect factory laborPower and lightIndirect materialsTotal

Budgets are the statements prepared by the entity for the purpose of estimating the costs relating…

Business

Accounting

Leno Manufacturing Company prepared the following factory overhead cost budget for the Press Department for October of the current year, during which it expected to require 8,000 hours of productive capacity in the department: Variable overhead cost: Indirect factory labor Power and light Indirect materials Total variable overhead cost Fixed overhead cost: Supervisory salaries Depreciation of plant and equipment Insurance and property taxes Total fixed overhead cost Total factory overhead cost $58,400 3,360 20,800 $28,900 18,160 11,560 $82,560 58,620 $141,180 Assuming that the estimated costs for November are the same as for October, prepare a flexible factory overhead cost budget for the Press Department for November for 6,000, 8,000, and 10,000 hours of production. Round your interim computations to the nearest cent, if required. Enter all amounts as positive numbers. Leno Manufacturing Company

Leno Manufacturing Company prepared the following factory overhead cost budget for the Press Department for October of the current year, during which it expected to require 8,000 hours of productive capacity in the department: Variable overhead cost: Indirect factory labor Power and light Indirect materials Total variable overhead cost Fixed overhead cost: Supervisory salaries Depreciation of plant and equipment Insurance and property taxes Total fixed overhead cost Total factory overhead cost $58,400 3,360 20,800 $28,900 18,160 11,560 $82,560 58,620 $141,180 Assuming that the estimated costs for November are the same as for October, prepare a flexible factory overhead cost budget for the Press Department for November for 6,000, 8,000, and 10,000 hours of production. Round your interim computations to the nearest cent, if required. Enter all amounts as positive numbers. Leno Manufacturing Company

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Roget Factory has budgeted factory overhead for the year at $5,035,800. It plans to produce 2,000,000 units of product. Budgeted direct labor hours are 327,000, and budgeted machine hours are 750,000. Using a single plantwide factory overhead rate based on direct labor hours, the factory overhead rate for the year is a.$15.40 b.$7.70 c.$20.02 d.$73.92
Narp. Ine, is preparing a budget for next vear and requires a breakdown of the cost of steam used in its factory into fixed and variable components. The following data on the cost of steam used and the units produced are available for the last six months: 25) Cost of Steam Units Produced July August September. October $ 15,850 13,000 16,370 20,000 17,600 18.500 3,000 c22,000 2,900 3,750 2,670 2.650 16.970 November. December. Total.... S101.320 ans Sharp uses the high-low method of analysis. Required: Show your work in answering the question. Failure to do so results in zero points a. What is the estimated variable cost of steam per unit produced? b. What is the total fixed cost? c. If there were 2,500 units produced the cost of steam would be?
Shilongo Ltd uses Job costing to attribute costs to individual products and services provide to its customers. It has begun the preparation of its fixed production cost budget for the forthcoming period. The company has three production departments Machining, Assembly and Finishing and two service department stores and maintenance. The following costs have been produced: Machining Assembly Finishing Stores Maintenance Overhead costs 6000 2500 1500 1000 800 The number of machine and labour hours budgeted for the forthcoming period is budgeted as follows: Machining Assembly Finishing Machine hours 500 40 50 Labour hours 100 300 200 Overheads are absorbed in Assembly and Finishing departments on a labour hour basis and in Machining department they are absorbed on a machine hour basis. It has been estimated that service departments usage is as follows: Machining Assembly Finishing Stores Maintenance Maintenance 55% 20% 20% 5% - Stores 40% 30% 20% - 10%…
Overhead rate per hour?
Main Company has two service departments, Factory administration and Maintenance, and two operating departments, Cutting and Assembly. Selected budgeted information relating to these departments for the next year of operation is given below: Service department Operating Department Factory admin Maintenance Cutting Assembly Departmental costs R113 400 R80 000 R700 000 R600 000 Number of employees 3 5 40 60 Total labour hours 4 000 6 000 80 000 120 000 The company allocates service department costs by the step method. Factory administration costs are allocated first on the basis of number of employees and then Maintenance costs are allocated on the basis of total labour hours. The total Maintenance costs allocated to the Cutting Department is closest to: A. R31 068 B. R34 160 C. R32 000 D. R51 240
Static budget versus flexible budget The production supervisor of the Machining Department for Hagerstown Company agreed to the following monthly static budget for the upcoming year: Hagerstown Company Machining Department Monthly Production Budget Wages Utilities Depreciation Total $1,090,000 49,000 82,000 $1,221,000 The actual amount spent and the actual units produced in the first three months in the Machining Department were as follows: Amount Spent Units Produced 100,000 91,000 82,000 May June July The Machining Department supervisor has been very pleased with this performance because actual expenditures for May-July have been significantly less than the monthly static budget of 1,221,000. However, the plant manager believes that the budget should not remain fixed for every month but should "flex" or adjust to the volume of work that is produced in the Machining Department. Additional budget information for the Machining Department is as follows: $1,150,000 1,095,000 1,042,000…
The total factory overhead for Garment Heater Company is budgeted for the year at $300,000. Garment Heater Company manufactures two types of furnaces: Red Deluxe and Energy Green. The Red Deluxe requires 10 direct labor hours for manufacture. The Energy Green requires 5 direct labor hours for manufacture Each product is budgeted for 200 units of production for the year. Determine (a) total number of budgeted direct labor hours for the year (b) the single plant wide factory overhead rate (c) the factory overhead allocated per unit for each product using the single plantwide factory overhead rate.
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 $4,600+ $1.70q $5,000+ $0.509 $1,700+ $0.30q $18,700+ $2.80q $8,300 Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration $3,000 $13,400+ $0.60q The Production Department planned to work 4,100 labor-hours in March; however, it actually worked 3,900 labor-hours during the month. Its actual costs incurred in March are listed below: Actual Cost Incurred in March $ 64,330 $ 10,750 $ 7,440 $ 3,140 $ 29,620 $ 8,700 $3,000 $ 15,090 Required: 1. Prepare the Production…
Katherin, Ltd. is developing their manufacturing overhead budget for May, which is based on budgeted direct labor hours. The variable overhead rate is $16.05 per direct labor hour and 11,552 direct labor hours are budgeted for May. Fixed manufacturing overhead is budgeted at $102,000. All overhead costs are current cash flows except for $15,300 of depreciation. The predetermined overhead rate every month is recomputed every month. What should the predetermined overhead rate for May be? Select one: A. $24.88 B. $26.20 C. $8.83 D. $17.66 E. $17.37
Over and Under, Inc. manufactures weaving looms. Before the period began, the company prepared the following manufacturing overhead budget for an expected activity level of 15,000 direct labor hours (DL hrs): Variable Manufacturing Overhead Costs $322,500 Fixed Manufacturing Overhead Costs $205,000 By the end of the period, the company noted that 3,000 fewer direct labor hours were logged than expected. The total actual manufacturing overhead costs incurred during the period was $545,000, of which, $325,000 was fixed. Which of the following statements is incorrect for the above data? A. The total volume variance can be calculated by multiplying the unit variable cost by the difference between the expected DL hrs and the actual DL hrs. B. The master budget variance related to fixed manufacturing overhead costs for the period equals $120,000. C. The volume variance for variable manufacturing overhead costs is favorable because fewer DL hrs were logged during production than expected. D.…