Problem 9-39 Sales, Production, and Purchases Budgets; Activity-Based Overhead Budget (LO 9-3, 9-4, 9-5, 9-6) [The following information applies to the questions displayed below.] Vista Electronics, Inc., manufactures two different types of coils used in electric motors. In the fall of the current year, Erica Becker, the controller, compiled the following data. • Sales forecast for 20x0 (all units to be shipped in 20xO): Product Light coil Heavy coil Units 52,000 32,000 Price $ 220 320 • Raw-material prices and inventory levels: Raw Material Sheet metal Copper wire Platform Expected Inventories, January 1, 20x0 30,000 lb. 27,000 lb. 5,200 units Desired Inventories, December 31, 20x0 34,000 lb. 30,000 lb. 6,200 units Anticipated Purchase Price $ 14

Problem 9-39 Sales, Production, and Purchases Budgets; Activity-Based Overhead Budget (LO 9-3, 9-4, 9-5, 9-6) [The following information applies to the questions displayed below.] Vista Electronics, Inc., manufactures two different types of coils used in electric motors. In the fall of the current year, Erica Becker, the controller, compiled the following data. • Sales forecast for 20x0 (all units to be shipped in 20xO): Product Light coil Heavy coil Units 52,000 32,000 Price $ 220 320 • Raw-material prices and inventory levels: Raw Material Sheet metal Copper wire Platform Expected Inventories, January 1, 20x0 30,000 lb. 27,000 lb. 5,200 units Desired Inventories, December 31, 20x0 34,000 lb. 30,000 lb. 6,200 units Anticipated Purchase Price $ 14

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 2
Prepare the production budget (in units) for 20x0.
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Flexible Budget for Various Levels of Activity Palladium Inc. produces a variety of household cleaning products. Palladium’s controller has developed standard costs for the following four overhead items: Overhead Item Total Fixed Cost Variable Rate per DirectLabor Hour Maintenance $ 86,000 $0.20 Power 0.45 Indirect labor 140,000 2.10 Rent 35,000 Next year, Palladium expects production to require 90,000 direct labor hours. Required: 1. Prepare an overhead budget for the expected level of direct labor hours for the coming year. Palladium Inc. Overhead Budget For the Coming Year Variable costs: Rate per Hour Activity Level90,000 Hours Maintenance $fill in the blank 336531fff03bfc2_1 $fill in the blank 336531fff03bfc2_2 Power fill in the blank 336531fff03bfc2_3 fill in the blank 336531fff03bfc2_4 Indirect labor fill in the blank 336531fff03bfc2_5 fill in the…
近 Requlred Information [The following information applies to the questions displayed below.] Morganton Company makes one product and it provided the following information to help prepare the master budget a. The budgeted selling price per unit is $60. Budgeted unit sales for June, July, August, and September are 8,300, 14,000, 16.000, and 17.000 units, respectively. All sales are on credit. b. Forty percent of credit sales are collected in the month of the sale and 60% in the following month. c. The ending finished goods inventory equals 25% of the following month's unit sales. d. The ending raw materials inventory equals 10% of the following month's raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $200 per pound. e. Forty percent of raw materials purchases are paid for in the month of purchase and 60% in the following month. f. The direct labor wage rate is $15 per hour. Each unit of finished goods requires two…
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国 Requlred Informatlon (The following information applies to the questions displayed below.] Morganton Company makes one product and it provided the following information to help prepare the master budget a. The budgeted selling price per unit is $60. Budgeted unit sales for June, July, August, and September are 8,300. 14,000, 16,000, and 17,000 units, respectively. All sales are on credit. b. Forty percent of credit sales are collected in the month of the sale and 60% in the following month. c. The ending finished goods inventory equals 25% of the following month's unit sales. d. The ending raw materials inventory equals 10% of the following month's raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $2.00 per pound. e. Forty percent of raw materials purchases are paid for in the month of purchase and 60% in the following month. f. The direct labor wage rate is $15 per hour. Each unit of finished goods requires two…
Question 1 (Single-rate versus dual-rate methods for allocating support department costs)The Cincinnati power plant that services all manufacturing departments of Eastern MountainEngineering has a budget for the coming year. This budget has been expressed in the following monthlyterms:ManufacturingDepartmentNeeded at Practical CapacityProduction Level (KilowattHoursAverage Expected MonthlyUsage (Kilowatt-Hours)Loretta 13,000 10,000Bently 21,000 9,000Melboum 14,000 10,000Eastmoreland 32,000 11,000Total 80,000 40,000The expected monthly costs for operating the power plant during the budget year are $20,000: $8,000variable and $12,000 fixed.Required:1. Assume that a single cost pool is used for the power plant costs. What budgeted amounts will beallocated to each manufacturing department if:(a) the rate is calculated based on practical capacity and costs are allocated based on practicalcapacity and(b) the rate is calculated based on expected monthly usage and costs are allocated based…
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