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MCO Leather manufactures leather purses. Each purse requires 2 pounds of direct materials at a cost of $5 per pound and 07 direct labor hour at a rate of $14 per hour. Variable overhead is budgeted at a rate of $3 per direct labor hour. Budgeted fixed overhead is $13,000 per month. The company's policy is to end each month with direct materials inventory equal to 40% of the next month's direct materials requirement. At the end of August the company had 3,440 pounds of direct materials in inventory. The company's production budget reports the following Production hodget September Units to produce 4,300 Required 1 (1) Prepare direct materials budgets for September and October (2) Prepare direct labor budgets for September and October (3) Prepare factory overhead budgets for September and October Complete this question by entering your answers in the tabs below. Required 2 Unts to produce October 6,500 Required 3 Prepare direct materials budgets for September and October. November 6,300 Materials needed for production (pounds) Total materials required (pounds) Materials to purchase (pounds) Cost of direct materials purchases MCO Leather Direct Materials Budget September October Required 2 >

MCO Leather manufactures leather purses. Each purse requires 2 pounds of direct materials at a cost of $5 per pound and 07 direct labor hour at a rate of $14 per hour. Variable overhead is budgeted at a rate of $3 per direct labor hour. Budgeted fixed overhead is $13,000 per month. The company's policy is to end each month with direct materials inventory equal to 40% of the next month's direct materials requirement. At the end of August the company had 3,440 pounds of direct materials in inventory. The company's production budget reports the following Production hodget September Units to produce 4,300 Required 1 (1) Prepare direct materials budgets for September and October (2) Prepare direct labor budgets for September and October (3) Prepare factory overhead budgets for September and October Complete this question by entering your answers in the tabs below. Required 2 Unts to produce October 6,500 Required 3 Prepare direct materials budgets for September and October. November 6,300 Materials needed for production (pounds) Total materials required (pounds) Materials to purchase (pounds) Cost of direct materials purchases MCO Leather Direct Materials Budget September October Required 2 >

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Complete this question by entering your answers in the tabs below. Required Required 2 Required 1 Prepare direct Tavor Dudgets for September and October. Note: Round "DL hours required per unit" answers to one decimal place.. Units to produce Direct labor hours needed Cost of direct labor MCO Leather Direct Labor Budget Required 1 Required 2 Required 3 Direct labor hours needed Complete this question by entering your answers in the car is Budgeted variable overhead September October Prepare factory overhead budgets for September and October. Budgeted total factory overhead < Required 1 Required 3 MCO Leather Factory Overhead Budget September Required 3 > < Required 2 October Required 3 >
Transcribed Image Text:Complete this question by entering your answers in the tabs below. Required Required 2 Required 1 Prepare direct Tavor Dudgets for September and October. Note: Round "DL hours required per unit" answers to one decimal place.. Units to produce Direct labor hours needed Cost of direct labor MCO Leather Direct Labor Budget Required 1 Required 2 Required 3 Direct labor hours needed Complete this question by entering your answers in the car is Budgeted variable overhead September October Prepare factory overhead budgets for September and October. Budgeted total factory overhead < Required 1 Required 3 MCO Leather Factory Overhead Budget September Required 3 > < Required 2 October Required 3 >
MCO Leather manufactures leather purses. Each purse requires 2 pounds of direct materials at a cost of $5 per pound and 07 direct labor hour at a rate of $14 per hour. Variable overhead is budgeted at a rate of $3 per direct labor hour. Budgeted fixed overhead is $13,000 per month. The company's policy is to end each month with direct materials inventory equal to 40% of the next month's direct materials requirement. At the end of August the company had 3,440 pounds of direct materials in inventory. The company's production budget reports the following. Production hodget September Units to produce 4,300 Required 1 Required 2 (1) Prepare direct materials budgets for September and October (2) Prepare direct labor budgets for September and October (3) Prepare factory overhead budgets for September and October Complete this question by entering your answers in the tabs below. Unts to produce Prepare direct materials budgets for September and October. October 6,500 Materials needed for production (pounds) Total materials required (pounds) Materials to purchase (pounds) Required 3 November 6,300 MCO Leather Direct Materials Budget Cost of direct materials purchases September October Required 2 >
Transcribed Image Text:MCO Leather manufactures leather purses. Each purse requires 2 pounds of direct materials at a cost of $5 per pound and 07 direct labor hour at a rate of $14 per hour. Variable overhead is budgeted at a rate of $3 per direct labor hour. Budgeted fixed overhead is $13,000 per month. The company's policy is to end each month with direct materials inventory equal to 40% of the next month's direct materials requirement. At the end of August the company had 3,440 pounds of direct materials in inventory. The company's production budget reports the following. Production hodget September Units to produce 4,300 Required 1 Required 2 (1) Prepare direct materials budgets for September and October (2) Prepare direct labor budgets for September and October (3) Prepare factory overhead budgets for September and October Complete this question by entering your answers in the tabs below. Unts to produce Prepare direct materials budgets for September and October. October 6,500 Materials needed for production (pounds) Total materials required (pounds) Materials to purchase (pounds) Required 3 November 6,300 MCO Leather Direct Materials Budget Cost of direct materials purchases September October Required 2 >
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