Malmo, Inc. manufactures travel locks. The budgeted selling price is $15 per lock, the variable cost is $13 per lock, and budgeted fixed costs are $11,000 per month. Prepare a flexible budget for output levels of 9,000 locks and 10,000 locks for the month ended April 30, 2024. Units Malmo, Inc. Flexible Budget For the Month Ended April 30, 2024 Budget Amounts Per Unit 9,000 10,000

Malmo, Inc. manufactures travel locks. The budgeted selling price is $15 per lock, the variable cost is $13 per lock, and budgeted fixed costs are $11,000 per month. Prepare a flexible budget for output levels of 9,000 locks and 10,000 locks for the month ended April 30, 2024. Units Malmo, Inc. Flexible Budget For the Month Ended April 30, 2024 Budget Amounts Per Unit 9,000 10,000

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

Waterway Industries budgeted manufacturing costs for 50000 tons of steel are as follows: Fixed manufacturing costs $55000 per month Variable manufacturing costs $14.00 per ton of steel Waterway produced 40000 tons of steel during March. What is the flexible budget for total manufacturing costs for March? O $605000 O $615000 O $560000 O $755000 F
James Worman is preparing a direct labor budget. His sales budget shows total sales units of 15000 and sales dollars of $18750. The direct materials purchases budget shows materials to be purchased of 15000 units and budgeted purchases cost of $3750. The production budget indicates a total of 12000 units to be produced. Standard direct labor hours per unit is 0.3 and the standard average wage rate is $15. What is budgeted direct labor cost? $67500 $54000 $180000 $225000
Please explain properly thanku
Singha Ltd produces and sells two products, X and Y, using the same type of materials and labour but in different quantities. Budgeted sales units for the next six months (July to December 2022) are as follows: July August September October November December Sales units of X 5,000 4,800 4,200 5,600 7,200 8,000 Sales units of Y 2,400 2,500 2,500 4,000 4,400 5,000 The standard selling prices and variable costs of production of each product is provided in the table below. Product X Product Y £ per unit £ per unit Selling Price £60 £100 Variable Costs of production Material A (£2 per kg) £6 £10 Material B (£3 per kg) £12 £24 Direct labour (£10 per hour) £15 £20 Variable production overhead (£4 per direct labour hour) £6 £8 The management accountant of the company has provided the following additional information. All sales are on account and the collection pattern are…
Rodriguez, Inc., is preparing its direct labor budget for 2020 from the following production budget based on a calendar year. Quarter Units Quarter 3 1 2 20,000 25,000 4 Units 35,000 30,000 Each unit requires 1.50 hours of direct labor. Prepare a direct labor budget for 2020. Wage rates are expected to be $16 for the first 2 quarters and $18 for quarters 3 and 4. (Round Direct labor time per unit answers to 2 decimal places, eg. 52.50.) $ $ RODRIQUEZ, INC. Direct Labor Budget 2 Quarter $ $ 3 $ $ 4 Year
Sheridan Company makes and sells artistic frames for pictures. The controller is responsible for preparing the master budget and has accumulated the following information for 2027. Estimated unit sales Unit selling price Direct labor hours per unit Direct labor cost per hour Beginning Materials Inventory Cost per Pound Desired Ending Inventory Direct Labor Cost per Hour Direct Labor Hours per Unit January 10,560 $60.00 $ 2.00 $ $6.00 id Media Show Transcribed Text February March April 12,320 11,440 9,680 $57.50 $57.50 $57.50 $57.50 Sheridan has a labor contract that calls for a wage increase to $7.00 per hour on April 1. New labor-saving machinery has been installed and will be fully operational by March 1. Jan 2.00 J Sheridan expects to begin the year with 15,488 frames on hand and has a policy of carrying an end-of-month inventory of 100% of the following month's sales, plus 40% of the second following month's sales. 1.50 $6.00 $6.00 $7.00 $7.00 Direct Materials per Unit Direct…
Echo Amplifiers prepared the following sales budget for the first quarter of 2018: Jan. Feb. Mar. Units 900 1,300 1,400 Sales price $100 $100 $100 Budgeted sales $90,000 $130,000 $140,000 It also has this additional information related to its expenses: Direct material per unit $1.50 Direct labor per unit 2 Variable manufacturing overhead per hour 0.40 Fixed manufacturing overhead per month 3,000 Sales commissions per unit 16 Sales salaries per month 5,100 Delivery expense per unit 0.50 Factory utilities per month 4,000 Administrative salaries per month 20,000 Marketing expenses per month 7,000 Insurance expense per month 12,000 Depreciation expense per month 10,000 Prepare a sales and administrative expense budget for each month in the quarter ending March 31, 2018. Enter all amounts as positive numbers.
31 - Which of the following is sufficient to record the expense ? a) Payment in the following period B) Payment NS) to have come true D) Originating from the production of goods and services TO) Payment by the end of the term
The number of kilograms of raw materials that should be purchased next month is:
Mid City Products Inc. (MCP), developed standard costs for direct material and direct labor. In 2020, MCP estimated the following standard costs for one of their most popular products. Budgeted quantity Budgeted price Direct materials 2 pounds Direct labor 0.40 hours $2.30 per pound $15.00 per hour During September, MCP produced and sold 1,000 units using 2,200 pounds of direct materials at an average cost per pound of $2.00 and 360 direct labor hours at an average wage of $15.15 per hour. The direct material efficiency variance during September is OA. $460 favorable OB. $660 unfavorable OC. $660 favorable OD. $460 unfavorable
Warren Limited is a semiconductor manufacturing company. The following data relates to the production and sales of a product in year 2020. January – June July – December Units produced Units sold 500 600 400 650 The budgeted information on the selling price and costs are shown below: £ Selling price per unit 500 Variable costs per unit: Direct materials 100 Direct labour 120 Variable production overhead 50 Fixed costs for half year: Fixed production overhead Fixed selling and administration overhead 30,000 55,000 Normal budgeted output is expected to be 550 units for every half year. Actual fixed manufacturing overhead is assumed to be the same as budgeted. There is no opening inventory at the beginning of the year 2020. REQUIRED: (a) Prepare absorption costing statements for the two 6-month periods during the year. (b) Prepare marginal costing statements for the two 6-month periods during the year. (c) Prepare a reconciliation statement to reconcile the difference in net profit…
Need Help with this Question