PROBLEM 2 - Budgets for a David, Inc. is preparing production data have April Unit sales 400 Finished goods inventc Raw materials inventor Desired ending inventc Finished goods:30% of Raw materials:25% of r Number of pounds of ra Number of direct labor Labor rate per hour: $1 Instructions: a - Prepare the producti produced during April a b - Prepare the raw mat materials should be pur Prepar the budgeted

PROBLEM 2 - Budgets for a David, Inc. is preparing production data have April Unit sales 400 Finished goods inventc Raw materials inventor Desired ending inventc Finished goods:30% of Raw materials:25% of r Number of pounds of ra Number of direct labor Labor rate per hour: $1 Instructions: a - Prepare the producti produced during April a b - Prepare the raw mat materials should be pur Prepar the budgeted

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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Question 5 Emma Co manufactures electric motors. The company expects to sell 440 units in June and 585 units in July. Beginning and ending finished goods for June is expected to be 40 and 95 units, respectively. July's ending finished goods is expected to be 125 units. The company's variable manufacturing overhead is $4 per unit produced and its fixed manufacturing overhead is $6220 per month. Emma's manufacturing overhead budget for July $ tiap. 5.0
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QUESTION 50 Answer the following questions using the information below: Edna's Flowering Plants provides the following information for the month of May: Actual Budget Sales in units Contribution margin per unit Tulips Geraniums 1,950 $11 1,800 $18 Tulips Geraniums 2,250 $10 1,500 $20 What is the budgeted contribution margin per composite unit for the budgeted mix? O A. $14.00 OB. $13.80 O C. $14.80 O D. $14.36
Direct Labor Cost Budget Ace Racket Company manufactures two types of tennis rackets, the Junior and Pro Striker models. The production budget for July for the two rackets is as follows: Junior Pro Striker Production budget 8,900 units 21,000 units Both rackets are produced in two departments, Forming and Assembly. The direct labor hours required for each racket are estimated as follows: Forming Department Assembly Department Junior 0.25 hour per unit 0.40 hour per unit Pro Striker 0.35 hour per unit 0.70 hour per unit The direct labor rate for each department is as follows: Forming Department $18.00 per hour Assembly Department $11.00 per hour Prepare the direct labor cost budget for July. Ace Racket Company Direct Labor Cost Budget For the Month Ending July 31 Forming Department Assembly Department Hours required for production: Junior fill in the blank 1 fill in the blank 2 Pro Striker fill in the blank 3 fill in the blank 4…
Week 11 Absorption Costing & Marginal Costing Profit Statement Answer all questions Fantasia Berhad plans to manufacture a new product next month. The expected average monthly sales and production volumes are 3,000 units. Budgeted cost per unit of a product based on the average monthly production volume is as follows: Direct material Direct labour (RM16 per hour) Variable production overhead RM 110 Required: 48 Other information are as follows: Selling Price per unit Variable selling and administration overhead Fixed selling and administration overhead Fixed production overhead Additional information: i. Fixed selling and administration overhead is to be treated as period cost in the monthly Income Statement. b. 24 182 ii. The budgeted production for the first month is 3,720 units but only 2,680 units are expected to be sold. RM400 10% of selling price RM168,000 per month RM126,000 per month Prepare the Statement of Profit or Loss of Fantasia Berhad for the first month using the…
#3 Required information [The following information applies to the questions displayed below.] A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard Quantity and Cost 6 pounds @ $9 per pound 2 DLH @ $17 per DLH 2 DLH @ $12 per DLH Total budgeted (standard) cost Actual Results (1) Prepare the standard cost card showing standard cost per unit. (2) Compute total budgeted cost for June production. (3) Compute total actual cost for June production. (4) Compute total cost variance for June.
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Question 6 View Policies Current Attempt in Progress Crane Company determines that 59000 pounds of direct materials are needed for production in July. There are 3700 pounds of direct materials on hand at July 1 and the desired ending inventory is 3300 pounds. If the cost per unit of direct materials is $3, what is the budgeted total cost of direct materials purchases? ort $175800 O $180600. O $178200. O $173400. ea Chp ins prt sc fho 12 home delete % 5 & 7 backspace lock T P hom G H K enter B pause t shift ctri NM N
Exercise 4-31 The Charito Company is planning an overhead budget cost budget for the next month, July, 2021. Past cost studies indicate that costs have followed behavior patterns as given below: Variable Rate Per Hour Indirect materials PO.90 Heat, light & power 1.20 Repairs & maintenance Lubrication 4.60 0.50 In addition, management has estimated fixed factory overhead as follows: Supervision P44,000 36,000 14,500 Indirect labor Heat, light & power 17,200 Repairs & maintenance Taxes & insurance 9,000 Total P129,000 During the next month, the company plans to manufacture 150,000 units of product. Products are produced at the rate of 6 units per hour. Normal plant capacity is 30,000 hours. REQUIRED: 1. Prepare the factory overhead budget for July, 2021. 2. Determine the unused normal capacity, if any.
January 1 - 40,000 meters December 31 - 10,000 meters The Production Budget indicates that 450,000 units need to be produced to meet the expected sales level of 575,000 units. Three (3) meters of raw material are needed to produce each unit of finished product. REQUIRED: How many meters of raw material would be budgeted to be
Direct Labor Cost Budget Ace Racket Company manufactures two types of tennis rackets, the Junior and Pro Striker models. The production budget for July for the two rackets is as follows: Junior Pro Striker Production budget 1,500 units 6,200 units Both rackets are produced in two departments, Forming and Assembly. The direct labor hours required for each racket are estimated as follows: Forming Department Assembly Department Junior 0.16 hour per unit 0.24 hour per unit Pro Striker 0.20 hour per unit 0.30 hour per unit The direct labor rate for each department is as follows: Forming Department $18.00 per hour Assembly Department $14.00 per hour Prepare the direct labor cost budget for July. Ace Racket Company Direct Labor Cost Budget For the Month Ending July 31 Forming Department Assembly Department Hours required for production: Junior fill in the blank 1 fill in the blank 2 Pro Striker fill in the blank 3 fill in the blank 4…