Monty Company uses a flexible budget for manufacturing overhead based on direct labor hours Budgeted variable manufacturing overhead costs per direct labor hour are as follows. Indirect labor Indirect materials Utilities $1.50 1.10 Activity Level 0.80 Budgeted fixed overhead costs per month are Supervision $3.920, Depreciation $1.176, and Property Taxes $784. The company believes it will normally operate in a range of 6.860-9,800 direct labor hours per month Prepare a monthly manufacturing overhead flexible budget for 2022 for the expected range of activity, using increments of 980 direct labor hours. (List variable costs before fixed costs) MONTY COMPANY Monthly Manufacturing Overhead Flexible Budget For the Year 2022

Monty Company uses a flexible budget for manufacturing overhead based on direct labor hours Budgeted variable manufacturing overhead costs per direct labor hour are as follows. Indirect labor Indirect materials Utilities $1.50 1.10 Activity Level 0.80 Budgeted fixed overhead costs per month are Supervision $3.920, Depreciation $1.176, and Property Taxes $784. The company believes it will normally operate in a range of 6.860-9,800 direct labor hours per month Prepare a monthly manufacturing overhead flexible budget for 2022 for the expected range of activity, using increments of 980 direct labor hours. (List variable costs before fixed costs) MONTY COMPANY Monthly Manufacturing Overhead Flexible Budget For the Year 2022

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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Belinda Company has the following budgeted variable costs per unit produced: Direct materials $ 7.50 Direct labour 2.24 Variable overhead: Supplies 0.33 Maintenance 0.17 Power 0.18 Budgeted fixed overhead costs per month include supervision of $68,000, depreciation of $71,000, and other overhead of $205,000. Required: 1. Prepare a flexible budget for all costs of production for the following levels of production: 120,000 units, 130,000 units, and 145,000 units. 2. What is the per-unit total product cost for each of the production levels from Requirement 1? (Round each unit cost to the nearest cent.)
Dineshbhai
Manuel Company predicts it will operate at 80% of its productive capacity. Its overhead allocation base is DLH and its standard amount per allocation base is 0.5 DLH per unit. The company reports the following for this period. Flexible Budget at 80% Capacity Actual Results Production (in units) 54,750 51,600 Overhead Variable overhead $ 301,125 Fixed overhead 54,750 Total overhead $ 355,875 $ 367,700 1. Compute the standard overhead rate. Hint: Standard allocation base at 80% capacity is 27,375 DLH, computed as 54,750 units × 0.5 DLH per unit.2. Compute the standard overhead applied.3. Compute the total overhead variance. (Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.)
Your answer is partially correct. Indigo Company uses a flexible budget for manufacturing overhead based on direct labor hours. Budgeted variable manufacturing overhead costs per direct labor hour are as follows. Indirect labor Indirect materials Utilities $1.10 0.80 0.50 Budgeted fixed overhead costs per month are Supervision $4,800, Depreciation $1,440, and Property Taxes $960. The company believes it will normally operate in a range of 8,400-12,000 direct labor hours per month. Prepare a monthly manufacturing overhead flexible budget for 2022 for the expected range of activity, using increments of 1,200 direct labor hours. (List variable costs before fixed costs.)
Domestic
Current Attempt in Progress Monty Company uses a flexible budget for manufacturing overhead based on direct labor hours. Budgeted variable manufacturing overhead costs per direct labor hour are as follows. Indirect labor $1.50 Indirect materials 1.10 Utilities 0.80 Budgeted fixed overhead costs per month are Supervision $3,920, Depreciation $1,176, and Property Taxes $784. The company believes it will normally operate in a range of 6,860-9,800 direct labor hours per month. Prepare a monthly manufacturing overhead flexible budget for 2022 for the expected range of activity, using increments of 980 direct labor hours. (List variable costs before fixed costs.) MONTY COMPANY Monthly Manufacturing Overhead Flexible Budget For the Year 2022
Accounting - Budgeted Manufacturing Costs
Please provide the solution with explanation of below parts of questions 4. Each unit produced requires 0.05 hours of direct labor. Each hour of direct labor costs the company $15. No temporary employees or overtime may be scheduled. Prepare a Direct Labor budget. 5. Variable manufacturing overhead is $20 per direct labor hour. Fixed manufacturing overhead is $50,000 per month. This includes $20,000 of depreciation. Prepare a Manufacturing Overhead expense budget. 6. Variable selling and administrative expenses are $0.50 per unit sold. Fixed selling and administrative expenses are $80,000 per month and include $15,000 in depreciation. Prepare a Selling & Administrative Expense budget.
Matolo ltd manufactures two types of products BELL and CELL.The following budgeted information is available PRODUCT BELL CELL Budgeted Production and Sales in Units 550 550 Labour hours per unit 100 100 Variable cost per unit K15,000 K16,000 Total budgeted labour hours 110,000 240,000 The company has general fixed overheads amounting to K13,010,000 which is absorbed using labour hour rate. The analysis of the K13,010,000 general fixed overheads revealed the following: Overhead item K’000 Setup costs 6,000 Inspection 3,510 Labour costs…
What are the actual hours worked? Hing Performance Measures 355 1,400 b. a. 1,402 c. 1,598 d. 27. The Sta. Ana Company has a budgeted normal monthly capacity of 5,000 labor hours with a standard production of 4,000 units at this capacity. Standard costs are: 1,600 Materials Labor Factory overhead at normal 2 kilos at P1.00 hour P8.00 per сараcity: Fixed expenses Variable P5.000.00 expenses PL.50 per labor hour During September, actual factory overhead totaled PI1,250, and 4,500 labor hours cost P33,750. Production during the month was 3,500 units using 7,200 kilos of materials at a cost of P1.02 per kilo. The materials price variance during September was: P1,440 unfavorable. b. P204 favorable. d. P3,440 unfavorable. None of the above. a. e. c. P140 favorable. 28. Refer to Question No. 27. The labor efficiency variance was: d. P62.50 favorable. a. P2,250 unfavorable. None of the above. b. P1,000 unfavorable. P2,187.50 favorable. e. с. 29. Leia Company's direct-labor costs for the month…
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Flounder Possible Inc. (FP) is a manufacturer of toaster ovens. To improve control over operations, the president of FP wants to begin using a flexible budgeting system, rather than using only the current master budget. The following data are available for FP's expected costs at production levels of 81,000, 90,000, and 99,000 units. Variable costs Manufacturing $5 per unit Administrative $3 per unit Selling $3 per unit Fixed costs Manufacturing $144,000 Administrative $72,000