Oriole Remanufacturing rebuilds spot welders for manufacturers. The following budgeted cost data for 2022 are available for Oriole: Time Charges Material Loading Charges Technicians' wages and benefits $260,700 Parts manager's salary and benefits $36,960 Office employee's salary and benefits 63,200 16,720 Other overhead 23,700 25,520 Total budgeted costs $347,600 $79,200 The company wants a $35 profit margin per hour of labour and a 30% profit margin on parts. It has budgeted for 7,900 hours of repair time in the coming year and estimates that the total invoice cost of parts and materials in 2022 will be $352,000. (a) Your answer is correct. Calculate the rate charged per hour of labour. Rate charged eTextbook and Media 79 per hour Attempts: 1 of 2 used

Oriole Remanufacturing rebuilds spot welders for manufacturers. The following budgeted cost data for 2022 are available for Oriole: Time Charges Material Loading Charges Technicians' wages and benefits $260,700 Parts manager's salary and benefits $36,960 Office employee's salary and benefits 63,200 16,720 Other overhead 23,700 25,520 Total budgeted costs $347,600 $79,200 The company wants a $35 profit margin per hour of labour and a 30% profit margin on parts. It has budgeted for 7,900 hours of repair time in the coming year and estimates that the total invoice cost of parts and materials in 2022 will be $352,000. (a) Your answer is correct. Calculate the rate charged per hour of labour. Rate charged eTextbook and Media 79 per hour Attempts: 1 of 2 used

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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Dazzle Party is a small business that produces decorative balloons for events. Dazzle Party uses normal costing and assigns manufacturing overhead (MOH) costs using labour hours as the allocation base. Budgeted and actual production data for the year 2023 is provided below. Budget $60,000 120,000 Actual $52,000 MOH costs Labour-hours 110,000 Required: Calculate the difference between the allocated MOH cost and the actual MOH cost incurred in 2023. Clearly state whether this difference represents a case of under-allocation or over-allocation of MOH.
Finance
Subject: acounting
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Blue Spruce Welding rebuilds spot welders for manufacturers. The following budgeted cost data for 2022 is available for Blue Spruce. Technicians' wages and benefits Parts manager's salary and benefits Office employee's salary and benefits Other overhead (a) Total budgeted costs Compute the rate charged per hour of labor. Time Charges $202,800 Labor rate $ 39,000 7,800 $249,600 The company desires a $39 profit margin per hour of labor and a 28% profit margin on parts. It has budgeted for 7,800 hours of repair time in the coming year, and estimates that the total invoice cost of parts and materials in 2022 will be $416,000. Material Loading Charges per hour $39,300 14,780 29,120 $83,200
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