Prepare a Production Budget for each month and Production Cost budget for the six monthsperiod ending 31st Dec. 2003 from the following data of product "X":(1) The units to be sold for different months are as follows:July, 20031,100AugustSeptemberOctober1,1001,7001,900November2,500December 20032,3002,000January 2004(2) There will be no work in progress at the end of any month.(3) Finished units equal to half the sales for the next month will be in stock at the end of eachmonth (including June 2003).(4) Budgeted production and production cost for the year ending 31" December 2003 are asfollows:Production (Units)22,000Direct Material Per unitOMR.IO.0ODirect wages Per unitTotal factory overhead apportioned to productOMR. 4.0O88,000

Production budget: production budget is a budget created by the company to know how many units to be…

Answered: Prepare a Production Budget for each…

FINANCIAL ACCOUNTING

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ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Budget Performance Report Salisbury Bottle Company manufactures plastic two-liter bottles for the beverage industry. The cost standards per 100 two-liter bottles are as follows: Standard Cost per 100 Two-Liter Cost Category Direct labor Direct materials Factory overhead Total At the beginning of March, Salisbury's management planned to produce 500,000 bottles. The actual number of bottles produced for March was 525,000 bottles. The actual costs for March of the current year were as follows: Actual Cost for the Month Ended March 31 Cost Category Direct labor Direct materials Factory overhead Total Bottles $1.20 6.50 1.80 $9.50 Manufacturing costs: Direct labor Direct materials Factory overhead Total a. Prepare the March manufacturing standard cost budget (direct labor, direct materials, and factory overhead) for Salisbury, assuming planned production. Salisbury Bottle Company Manufacturing Cost Budget For the Month Ended March 31 $6,550 33,800 9,100 $49,450 $ Standard Cost at Planned…
Please need your help to prepare performance report out of this information..
Budget
Coe Parts applies fixed overhead at the rate of $6.82 per unit. Budgeted fixed overhead was $198,600. This month 28,240 units were produced, and actual fixed overhead was $193,490. Required: a. What are the fixed overhead price and production volume variances for Coe Parts? b. What was budgeted production for the month? Complete this question by entering your answers in the tabs below. Required A Required B Jhm What are the fixed over ad price and production volume variances for Coe Parts? Note: Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option. Do not round your intermediate calculations. Round your final answers to the nearest dollar. Fixed overhead price variance Fixed overhead production volume variance Required A Required B >
Clarks Company's master budget includes $360,000 for equipment depreciation. The master budget was prepared for an annual volume of 120,000 chargeable hours. This volume is expected to occur uniformly throughout the year. During September Clark performed 9,000 chargeable hours and recorded $28,000 of depreciation. Determine the flexible budget amount for equipment depreciation in September?
Prepare the direct material budgets for the upcoming five years. The budgets should also include a schedule of expected cash disbursements for purchase of materials, by year and in total. Make your assumptions about the safety stock of materials and the timing of payments clear. Total Raw materials $23 ( Distilled water $2, Rose oil $2, Sandalwood $2, Cedar $2, Musk $8, vanilla $5, Ethyl $1, Methyl $1) Box $10 Bottle $20 Labour $7
Assume that a company uses a standard cost system and applies overhead to production based on direct labor-hours. It provided the following information for its most recent year: Total budgeted fixed overhead cost for the year Actual fixed overhead cost for the year Budgeted direct labor-hours Actual direct labor-hours Standard direct labor-hours allowed for the actual output What is the fixed overhead volume variance? Multiple Choice O $20,000 U $20,000 F $9,000 U $9,000 F $ 300,000 $ 276,000 60,000 56,000 58, 200
Question 3 A shoe company had the following journal entries recorded for the end of June. Materials Control 300,000 Direct Materials Price Variance 10,000 Accounts Payable Control 290,000 Work-in-Process Control 120,000 8,000 Direct Materials Efficiency Variance Materials Control 128,000 Standard cost for direct labor per pair of shoes: 1 hour at a standard price of $100 each. The company produced 8,500 shoes in June with 8,470 hours and incurred total direct labor costs of $832,000.
how about these 3 requirments Prepare a direct materials budget for the first quarter of the financial year ending 30 September 2022. Prepare a cash budget for the first quarter of the financial year ending 30 September 2022 including any necessary schedules. Prepare a budgeted income statement for the first quarter of the financial year ending 30 September 2022.
Consider Derek's budget information: materials to be used totals $63,300; direct labor totals $202,000; factory overhead totals $393,900; work in process inventory January 1, $187,200; and work in progress inventory on December 31, $193,400. What is the budgeted cost of goods manufactured for the year?
Need the what to do from 1-4

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Prepare a Production Budget for each month and Production Cost budget for the six months period ending 31st Dec. 2003 from the following data of product "X":