Prepare the direct-labor budget (in dollars) for 20x0. Finished-goods inventories (in units):Expected January 1, Desired December 31,20x020x023,0009,500ProductLight coilHeavy coilProduction overhead:Overhead Cost ItemPurchasing and material handlingDepreciation, utilities, and inspectionShippingGeneral production overhead28,00010,500Activity-Based Budget Rate$ 0.80$ 7.00$ 2.00$ 5.00per pound of sheet metal and copperwire purchasedper coil produced (either type)per coil shipped (either type)per direct-labor hour Vista Electronics, Incorporated, manufactures two different types of coils used in electric motors. In the fall of the currentyear, Erica Becker, the controller, compiled the following data.• Sales forecast for 20x0 (all units to be shipped in 20x0):Units58,00038,000●●ProductLight coilHeavy coilRaw-material prices and inventory levels:Expected Inventories,January 1, 20x036,000 Pound33,000 Pound5,800 unitsRa MaterialSheet metalCopper wirePlatformUse of raw material:PriceProductLight coilHeavy coilFinished-goodsProductLight coilHeavy coil$ 280380Raw MaterialSheet metalCopper wirePlatformDirect-labor requirements and rates:Amount Used per UnitLight Coil4 Pound2 PoundHours per Unit35inventories (in units):Desired Inventories,December 31, 20x040,000 Pound36,000 Pound6,800 units20x023,0009,500Heavy Coil5 Pound3 Pound2 unitRate per Hour$ 1520Expected January 1, Desired December 31,20x028,00010,500AnticipatedPurchase Price$1584

The budget is prepared by the management on the basis of past experience. On the basis of the…

Answered: Prepare the direct-labor budget (in…

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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Rodriguez, Inc., is preparing its direct labor budget for 2020 from the following production budget based on a calendar year. Quarter Units Quarter 3 1 2 20,000 25,000 4 Units 35,000 30,000 Each unit requires 1.50 hours of direct labor. Prepare a direct labor budget for 2020. Wage rates are expected to be $16 for the first 2 quarters and $18 for quarters 3 and 4. (Round Direct labor time per unit answers to 2 decimal places, eg. 52.50.) $ $ RODRIQUEZ, INC. Direct Labor Budget 2 Quarter $ $ 3 $ $ 4 Year
The Current Designs staff has prepared the annual manufacturing budget for the rotomolded line based on an estimated annual production of 3,960 kayaks during 2020. 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 $1.00 per pound, and the finishing kits cost $150 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 $19 per hour, and the type II are paid $16 per hour. Manufacturing overhead is budgeted at $381,520 for 2020, broken down as follows. Variable costs Indirect materials Manufacturing supplies Maintenance and utilities Fixed costs Supervision Insurance Depreciation Total Polyethylene powder Finishing kits Type I labor Type II labor Indirect materials Manufacturing supplies Maintenance…
Prepare a direct labor budget for each of the upcoming five years. Cost labor per unit = $8 Total direct labor hours needed for a period = Number of units to be produced in that period * Direct labors hours needed per unit Total direct labor costs needed to meet production =Total direct labor hours needed for that period * Direct labor cost per hour
Ramos Co. provides the following sales forecast and production budget for the next four months. July 660 600 Sales (units) Budgeted production (units) April 560 500 The company plans for finished goods inventory of 180 units at the end of June. In addition, each finished unit requires 6 pounds of direct materials and the company wants to end each month with direct materials inventory equal to 25% of next month's production needs. Beginning direct materials inventory for April was 750 pounds. Direct materials cost $3 per pound. Each finished unit requires 0.20 hours of direct labor at the rate of $22 per hour. The company budgets variable overhead at the rate of $26 per direct labor hour and budgets fixed overhead of $8,600 per month. 1. Prepare a direct labor budget for April, May, and June. 2. Prepare a factory overhead budget for April, May, and June. Required 1 Required 2 May 640 630 Complete this question by entering your answers in the tabs below. RAMOS CO. June 590 600 Prepare a…
6) Some of the beginning and end of the period information of the production enterprise, which budgets the General Production Expenses on its products according to the Direct Labor Hours, are as follows.Budgeted General Production Expenses 20.000.-₺Actual Activity Volume 3,800 Direct labor hoursActual General Production Expenses 18.000.-₺Overload 1.000.-₺Desired: Calculate the "Budgeted Activity Volume" of the business. A. 4,500 Direct labor hoursB. 4,000 Direct labor hoursC. 2,500 direct labor hoursD. 3,000 Direct labor hoursE. 5,000 Direct labor hours
4. Prepare a cash budget by quarter and in total for next year.
Hi, please help :) Use the appropriate mixed cell references and relative references to reflect the percentages in range A22:B27 to determine the projected expenses for each of the Budgeted Selling and Budgeted Administrative Expenses for the year of 2022.
If the expected sales volume for the current period is 6,000 units, the desired ending inventory is 264 units, and the beginning inventory is 309 units, the number of units set forth in the production budget, representing total production for the current period, is a.6,264 b.6,000 c.5,691 d.5,955
A4) Create a budget on a spreadsheet supposing you earn $45,000 a year
Evaluate the following statements related to creating budget: I. In a production budget if the number of units in the finished goods inventory at the end of the period is less than the number of units in the finished goods inventory at the beginning of the period then the expected number of units sold is less than the number of units to be produced during the period Ii. in the merchandise purchases budget, the required purchases in units for a period can be determined by subtracting the beginning merchandise Inventory in units from the total of budgeted sales in unit and desired ending merchandise inventory (unit) III. When preparing a direct materials budget the beginning inventory for raw materials should be added to production needs, and the desired ending inventory should be subtracted to determine the amount of raw materials to be purchased Answer: ???
Cost Accounting The following budget is prepared by the Production manager for the last quarter of 2021:Units Total CostOctober 7500 530000November 6000 440000December 5000 380000 1. What is the variable cost per unit? ______2. How much is the fixed cost? ______3. What is the estimated budget for 6500 units?______

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