PistonsValvesCamsBudgetedVolume(Units)Pistons6,00013,0001,000ValvesDirect LaborHours Per UnitCams.The estimated direct labor rate is $20 per direct laborhour. Beginning and ending inventories are negligibleand are, thus, assumed to be zero. The budgeted factoryoverhead for Isaac Engines is $235,200.0.300.500.10If required, round all per unit answers to thenearest cent.Direct LaborHours Per UnitdihdlhdihProduct Costsa. Determine the plantwide factory overhead rate.$per dlhb. Determine the factory overhead and direct labor costper unit for each product.Total Product CostsGross profit (loss)Gross profit percentage of salesPrice PerUnit$$402155Isaac Engines Inc.Product Line Budgeted Gross ProfitReports$$Factory OverheadCost Per Unit$$For the Year Ended December 31, 20Y2CamsPistons%c. Use the information provided to construct abudgeted gross profit report by product line for the yearended December 31, 20Y2. Include the gross profit as apercent of sales in the last line of your report, roundedto one decimal place.$Direct MaterialsPer Unit$Valves%$$9$520$Direct LaborCost Per Unit$%

Pistons Valves Cams Budgeted Volume (Units) 6,000 13,000 1,000 Direct Labor Hours Per Unit Pistons Valves Cams 0.30 0.50 0.10 Price Per Unit Direct Labor Hours Per Unit dih dlh $40 dih 21 The estimated direct labor rate is $20 per direct labor hour. Beginning and ending inventories are negligible and are, thus, assumed to be zero. The budgeted factory overhead for Isaac Engines is $235,200. If required, round all per unit answers to the nearest cent. 55 a. Determine the plantwide factory overhead rate. $ per dlh b. Determine the factory overhead and direct labor cost per unit for each product. Direct Materials Per Unit $9 5 20 Factory Overhead Cost Per Unit Isaac Engines Inc. Product Line Budgeted Gross Profit Direct Labor Cost Per Unit c. Use the information provided to construct a budgeted gross profit report by product line for the year ended December 31, 20Y2. Include the gross profit as a percent of sales in the last line of your report, rounded to one decimal place.

Pistons Valves Cams Budgeted Volume (Units) 6,000 13,000 1,000 Direct Labor Hours Per Unit Pistons Valves Cams 0.30 0.50 0.10 Price Per Unit Direct Labor Hours Per Unit dih dlh $40 dih 21 The estimated direct labor rate is $20 per direct labor hour. Beginning and ending inventories are negligible and are, thus, assumed to be zero. The budgeted factory overhead for Isaac Engines is $235,200. If required, round all per unit answers to the nearest cent. 55 a. Determine the plantwide factory overhead rate. $ per dlh b. Determine the factory overhead and direct labor cost per unit for each product. Direct Materials Per Unit $9 5 20 Factory Overhead Cost Per Unit Isaac Engines Inc. Product Line Budgeted Gross Profit Direct Labor Cost Per Unit c. Use the information provided to construct a budgeted gross profit report by product line for the year ended December 31, 20Y2. Include the gross profit as a percent of sales in the last line of your report, rounded to one decimal place.

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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