Prepare a selling and administrative expense budget for the year.
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Logan Lighting, a manufacturer of light fixtures, has the following budgeted expenses for the year:
Advertising$ 42,000
Depreciation of office furniture63,000
Executive salaries425,000
Office supplies22,000
Factory supplies37,000
Sales commissions125,000
Rent (80% of the building is the factory, 20% of the building is the office)
80,000
Factory floor supervisor salaries236,000
Telephone and copier32,000
Travel87,000
Prepare a selling and administrative expense budget for the year.
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- Walkenhorst Company's machining department prepared its 2022 budget based on the following data: Practical capacity 40,000 units 2 Standard machine hours per unit Standard variable factory overhead Budgeted fixed factory overhead $ 3.00 per machine hour $ 336,000 The department uses machine hours to apply factory overhead to production. In 2022, the department used 86,800 machine hours and incurred $602,000 in total manufacturing overhead cost to manufacture 42,170 units. Actual fixed overhead cost for the year was $351,000. Required: Determine for the year: 1. The fixed, variable, and total factory overhead application rates (per machine hour). (Round your answers to 2 decimal places.) 2. The total flexible budget, for factory overhead cost based on output achieved in 2022. 3. The production volume variance. State whether this variance was favorable (F) or unfavorable (U). 4. The total overhead spending variance. State whether this variance was favorable (F) or unfavorable (U). 5. The…Flores Company budgeted total variable costs at P250,000 for the current year. In addition, they budgeted costs for (a) factory rent at P325,00o; (b) depreciation of office equipment at P20,000; (c) office rent at P140,000; and (d) depreciation of factory equipment at P60,000. All of the above costs were based upon estimated 50,080 machine hours. At the end of the accounting period, the Factory Overhead Control had a balance of P650,625. Actual machine hours were 53,210. What was the over or underapplied factory overhead for the period? * P 24,062 overapplied. P 45,312 underapplied. O P 24,062 underapplied. O P194,062 overapplied.Roget Factory has budgeted factory overhead for the year at $4,392,000. It plans to produce 2,000,000 units of product. Budgeted direct labor hours are 360,000, and budgeted machine hours are 750,000. Using a single plantwide factory overhead rate based on direct labor hours, the factory overhead rate for the year is a.$12.20 b.$15.86 c.$6.10
- The total factory overhead for Magnum Corporation is budgeted for the year at $500,000. This is divided into three activity pools: fabrication, $246,000; assembly, $144,000, and setup, $110,000. Magnum manufactures two types of kayaks: Basic and Deluxe. The activity-based usage quantities for each project by activity are as follows: Fabrication Assembly Setup Basic 2,000 dlh 8,000 dlh 5 setups Deluxe 10,000 dlh 24,000 dlh 15 setups Total activity-base usage 12,000 dlh 32,000 dlh 20 setups Each product is budgeted for 2,500 units of production for the year.What is the activity-based factory overhead per unit for the Deluxe kayak? a.$41.80 b.$158.20 c.$100.00 d.$154.54The manufacturing overhead budget at Foshay Corporation is based on budgeted direct labor-hours. The direct labor budget indicates that 5,800 direct labor-hours will be required in May. The variable overhead rate is $9.10 per direct labor-hour. The company's budgeted fixed manufacturing overhead is $104,400 per month, which includes depreciation of $8,120. All other fixed manufacturing overhead costs represent current cash flows. The company recomputes its predetermined overhead rate every month. What should be the predetermined overhead rate for May?Cabinare Inc. Is one of the largest manufacturers of office furniture in the United States. In Grand Rapids Michigan and assembles filing cabinets in a assembly Department. Assume following nformation for the assembly departments: Direct labor per filing cabinets 30 min Supervisor salaries $132,000 per month Depreciation $24,000 per month Direct labor rate $21 per hr. Prepare a flexible budget for 13,000,16,000,and 20,000 filing cabinets for the month ending February 28 in assembly departments similar to exhibit 5 Round your final answer to the whole dollar, if required.
- Roget Factory has budgeted factory overhead for the year at $5,035,800. It plans to produce 2,000,000 units of product. Budgeted direct labor hours are 327,000, and budgeted machine hours are 750,000. Using a single plantwide factory overhead rate based on direct labor hours, the factory overhead rate for the year is a.$15.40 b.$7.70 c.$20.02 d.$73.92Variable Fixed 140,000 107,500 Selling and administrative: Variable Fixed 60,000 Total costs 80,000 Pershing has a target profit of $150,000. $705,000 If total invested capital is $1,000,000, what is the company's target rate of return on investment? O A. 20 % O B. 25 % O C. 35 % O D. 30 % O E. 15 % Click to select your answer.Flores Company budgeted total variable costs at P250,000 for the current year. In addition, they budgeted costs for (a) factory rent at P325,000; (b) depreciation of office equipment at P20,000; (c) office rent at P140,000; and (d) depreciation of factory equipment at P60,000. All of the above costs were based upon estimated 50,080 machine hours. At the end of the accounting period, the Factory Overhead Control had a balance of P650,625. Actual machine hours were 53,210. What was the over or underapplied factory overhead for the period?
- Cycling Corporation identified the following budgeted data for this year. The company produces two types of bicycles, Recreational and Racing. Activity Budgeted Overhead Cost Budgeted Activity Handling materials $ 2,500,000 400,000 parts Quality inspection 360,000 6,000 inspections Purchasing 100,000 4,000 orders Total $ 2,960,000 The company allocates overhead cost based on 10,000 budgeted direct labor hours. The Recreational bicycle uses 5 direct labor hours per unit, and the Racing bicycle uses 10 direct labor hours per unit. Overhead cost per unit for the Racing bicycle is:The total factory overhead for Big Light Company is budgeted for the year at $2,201,190. Big Light manufactures two different products: night lights and desk lamps. Night lights are budgeted for 18,000 units. Each night light requires 2 hours of direct labor. Desk lamps are budgeted for 18,700 units. Each desk lamp requires 3 hours of direct labor. a. Determine the total number of budgeted direct labor hours for the year.fill in the blank direct labor hours b. Determine the single plantwide factory overhead rate using direct labor hours as the allocation base. Round your answer to two decimal places.fill in the blank per direct labor hour c. Determine the factory overhead allocated per unit for each product using the single plantwide factory overhead rate determined in (b). Round your answers to two decimal places.Night lights fill in the blank per unitDesk lamps fill in the blank per unitWaterway Industries has the following budgeted costs for the next year: Time Charges Material Charges Shop employees’ wages and benefits $120000 $ - Parts manager’s salary and benefits - 50000 Office employee’s salary and benefits 45000 15000 Other overhead 15000 40000 Invoice cost of parts and materials - 454000 Total budgeted costs $180000 $559000 Next year’s material loading charge, assuming a 30% markup on material cost is 48.78%. 53.00%. 30.00%. 18.78%. do not give solution in image