|Units Price Accel Active 45,000|s225 Product Accel Regular 75,000|S1sS Expected Target Inventories Product Accel Active Accel Regular January 1, 2019 December 31, 2019 9,000 12,000 17,000 25,000 The following direct materials are expected to be used in the two products: Material Used per Unit Direct Material Unit Accel Active Accel Regular One pound Two Three pound 4 2 pound 2 Projected data for 2019 with respect to direct materials are as follows: Direct Material Expected Purchase PriceExpected Inventories Target Inventories (January 1, 2019) (December 31, 2019) One S15 27,000 lb 35,000 lb Two $7 30,000 lb 35,000 lb Three $4 4,000 lb 7,000 lb Projected direct labor requirements and rates for 2019 are as follows: Product Hours Per Unit Rate Per Hour Accel Active Accel Regular SI8 4 3 SIs Manufacturing overhead is allocated at the rate of $22 per direct manufacturing labor-hour. Required: Based on the preceding projections and budget requirements for Accel Active and Accel Regular, prepare the following budgets for 2019: 4. Direct materials purchases budget (in dollars) 5. Direct manufacturing labor budget (in dollars) 6. Direct manufacturing overhead budget (in dollars)

|Units Price Accel Active 45,000|s225 Product Accel Regular 75,000|S1sS Expected Target Inventories Product Accel Active Accel Regular January 1, 2019 December 31, 2019 9,000 12,000 17,000 25,000 The following direct materials are expected to be used in the two products: Material Used per Unit Direct Material Unit Accel Active Accel Regular One pound Two Three pound 4 2 pound 2 Projected data for 2019 with respect to direct materials are as follows: Direct Material Expected Purchase PriceExpected Inventories Target Inventories (January 1, 2019) (December 31, 2019) One S15 27,000 lb 35,000 lb Two $7 30,000 lb 35,000 lb Three $4 4,000 lb 7,000 lb Projected direct labor requirements and rates for 2019 are as follows: Product Hours Per Unit Rate Per Hour Accel Active Accel Regular SI8 4 3 SIs Manufacturing overhead is allocated at the rate of $22 per direct manufacturing labor-hour. Required: Based on the preceding projections and budget requirements for Accel Active and Accel Regular, prepare the following budgets for 2019: 4. Direct materials purchases budget (in dollars) 5. Direct manufacturing labor budget (in dollars) 6. Direct manufacturing overhead budget (in dollars)

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

Question 1 A manufacturing company, VMTC PLC, makes the product, blitz. Monthly sales for the first five months of 2022 have been estimated as: Month Units January 210 000 February 180 000 March 210 000 April 220 000 May 200 000 Additional Information: i. Actual units sold in 2021 November and December were 190 000 and 220 000, respectively. ii. One unit of blitz requires 2 kg of material at $3.50 per kg. iii. One unit of blitz requires half an hour of direct labour at a rate of $12 per hour. iv. Based on past experience, 60% of cash is received in the month of sale, 25% the following month, 10% two months after and 5% is usually irrecoverable. V. Selling price is $18 per unit. vi. The company intends to have finished stock at the end of each month equivalent to 15% of the following month's budgeted sales. The policy regarding stock of raw materials is to have 25% of the following month's production requirements. vii. Stocks at 2022 January 01 are estimated to be 22 000 units of…
Selling price Materials cost GH¢20 per unit 3 kg per unit at GH¢2.5 per kg 0.6 hours per unit at GH¢4 GH¢1.2 per unit Labor cost Direct expenses Sales in May, June and July, 2021 are forecast to be 12,000 units in cach of the three months. As a direct result of marketing expenditure of GH¢8,000 in August 2021, sales are expected to be 11,000 units in August 2021, and to increase by 10% in cach month from September to December, 2021. Sales after December 202i are expected to remain at the December 2021 level. From business history, the management of Comfort Ltd has determined the following to be the pattern by which sales revenues are received: Twenty-five percent (25%) of sales are received in the month during which the sales occur; 30% of sales are received in one month following the month of sale; 30% of sales are received in two months following the month of sale; and 12% of sales are received in the third month following the month of sale. The remaining percentage of sales revenue…
Please do not give solution in image format thanku
Q21 Mixing Company manufactured 2,200 units of its only product during 2022. The inputs for this production are as follows: 520 pounds of Material A at a cost of $2.20 per pound 370 pounds of Material H at a cost of $3.45 per pound 580 direct labor hours at $48 per hour The firm manufactured 2,268 units of the same product in 2021 with the following inputs: 540 pounds of Material A at a cost of $1.40 per pound 400 pounds of Material H at a cost of $2.70 per pound 450 direct labor hours at $18 per hour In 2021, the partial financial productivity of direct labor is: Multiple Choice 0.28. 5.04. 4.48. 0.25. 5.60.
Book ferences Various financial data for SunPath Manufacturing for 2019 and 2020 follow. Output: Sales Inputs: Labor Raw Materials Energy Capital Employed Other 2019 2020 $300,000 $330,000 40,000 45,000 10,000 250,000 2,000 43,000 51,000 9,000 262,000 6,000 What is the percentage change in SunPath's total productivity measure between 2019 and 2020?
Question 4 View Policies Current Attempt in Progress Concord Corporation required production for June is 62000 units. To make one unit of finished product, three pounds of direct material Z are required. Actual beginning and desired ending inventories of direct material Z are 230000 and 260000 pounds, respectively. How many pounds of direct material Z must be purchased? 186000 216000. O 168000. O 198000. hp C ins prt sc + delete home end & 7 num backspace lock Y 7 home K 4 enter pause T shift end alt ctr Σ 00 I
Question Two Pass-Well Company Limited produces a product that passes through two processes, Process 1 and Process 2. Details of activities for the month of December, 2020 is as follows; Process 1 @GH₵200.00 200hrs 3,500units GH₵20 per unit Process 2 GH₵25,000.00 600hrs 3,150units GH₵40 per unit a. You are required to prepare the relevant accounts b. You are required to prepare the relevant Accounts With practical example, differentiate between cost assignment and cost apportionment; product cost and period costs; direct Material introduced (4,000 units) Material added Labour Costs (@GH₵400 per hour) Output in units Scrap value of normal loss Note; i. Overhead is absorbed at 80% of labour costs. ii. Normal loss is estimated at 10% for both process. iii. No opening and closing stocks cost and indirect cost
5
Can you fill in the blanks correctly and format it as the table that i sent, please, also here are the options for the drop downs on the leftBeginning Direct Materials Direct Materials Purchases Direct Materials Per Unit Total Required UnitsTotal Materials RequiredDesired Ending Direct Materials Desired Ending Finished Goods Unit Expected Unit SalesRequired Production Units Beginning Finished Goods Unit
Current Attempt in Progress Carla Vista Company expects to produce 1,200,000 units of product XX in 2022. Monthly production is expected to range from 72,700 to 109,700 units. Budgeted variable manufacturing costs per unit are as follows: direct materials $4, direct labour $7, and overhead $10. Budgeted fixed manufacturing costs per unit for depreciation are $4 and for supervision $3. In March 2022, the company incurs the following costs in producing 91,200 units: direct materials $392,800, direct labour $634,400, and variable overhead $915,000. Actual fixed overhead equalled budgeted fixed overhead. Prepare a flexible budget report for March. (List variable costs before fixed costs.) $ $ Were costs controlled? Budget CARLA VISTA COMPANY Manufacturing Flexible Budget Report For the Month Ended March 31, 2022 V Actual Difference Favourable Unfavourable Neither Favourable nor Unfavourable
The Current Designs staff has prepared the annual manufacturing budget for the rotomolded line based on an estimated annual production of 4,640 kayaks during 2022. Each kayak will require 56 pounds of polyethylene powder and a finishing kit (rope, seat, hardware, etc.). The polyethylene powder used in these kayaks costs $1.20 per pound, and the finishing kits cost $210 each. Each kayak will use two kinds of labor-2 hours of type I labor from people who run the oven and trim the plastic, and 3 hours of work from type II workers who attach the hatches and seat and other hardware. The type I employees are paid $17 per hour, and the type II are paid $14 per hour. Manufacturing overhead is budgeted at $414,840 for 2022, broken down as follows. Variable costs Indirect materials $46,400 Manufacturing supplies 64,960 Maintenance and utilities 102,080 213,440 Fixed costs Supervision 78,000 Insurance 13,200 Depreciation 110,200 201,400 Total $414,840 During the first quarter, ended March 31,…
Question 4: Dhofar Company manufactures two products M1 and Z1. Its sales department has three divisions: Salalah, Raysut and Mirbat. Initial estimates for the sales budgets for the year ending 31 December 2021 which are based on the assessments of the divisional executives are as follows; Product M1 : Salalah 45,000 units: Raysut 110,000 units and Mirbat: 25,000 units Product Z1: Salalah 70,000 units: Raysut 82,000 units and Mirbat:0 Sales Prices: M1: 3 OMR and Z1= 4 OMR in all areas. Arrangements are made for the extensive advertising of product M1 and Z1 and it is estimated that Salalah division sales will increase by 30,000 units. Arrangements are also made to advertise and distribute product z1 in the Mirbat area in the second half of 2021 when sales are expected to be 100,000 units. Since the estimated sales of the Raysut division represented an unsatisfactory target, it is agreed to increase both the estimates by 15 %. Prepare a sales budget for the year to 31…