Homework Help is Here – Start Your Trial Now!
Business
Accounting
Question:75 Use the data given below. Direct labor hours Machine hours Depreciation on salespeople's autos Indirect materials Depreciation on trucks used to deliver uniforms to Depreciation on plant and equipment Indirect manufacturing labor Customer service hotline Plant utilities Direct labor cost Budget Actual 7,600 6,100 7,000 6,500 $ 21,500 $ 21,500 $ 49,000 $ 54,500 $13,000 $10,500 $ 66,000 $ 67,000 $ 39,000 $ 40,000 $ 19,500 $ 21,000 $ 35,000 $ 37,500 $ 71,000 $ 86,000 Requirement:1. Compute the predetermined manufacturing overhead rate.2. Calculate the allocated manufacturing overhead for the past year. The Alderman Company has prepared a sales budget of 48,000 finished units for a 3-month period. The company has an inventory of 14,000 units of finished goods on hand on December 31 and has a target finished goods inventory of 16,000 units at the end of the succeeding quarter. It takes 2 gallons of direct materials to make one unit of the finished product. The company has an inventory of 68,000 gallons of direct materials on December 31 and has a target ending inventory of 58,000 gallons at the end of the succeeding quarter. How many gallons of direct materials should Alderman Company purchase during the 3 months ending March 31? Tech Solvers produces 8-foot USB cables. During the past year, the company purchased 59,374,000 feet of plastic-coated wire at a price of $0.28 per foot. The standard of The direct material for the cables allows 8.56 feet of wire at a standard price of $0.26. During the year, the company used a total of 534,690 feet of wire to produce 69,400 8-foot cables. Calculate Tech Solvers' direct materials quantity variance for the year.

Question:75 Use the data given below. Direct labor hours Machine hours Depreciation on salespeople's autos Indirect materials Depreciation on trucks used to deliver uniforms to Depreciation on plant and equipment Indirect manufacturing labor Customer service hotline Plant utilities Direct labor cost Budget Actual 7,600 6,100 7,000 6,500 $ 21,500 $ 21,500 $ 49,000 $ 54,500 $13,000 $10,500 $ 66,000 $ 67,000 $ 39,000 $ 40,000 $ 19,500 $ 21,000 $ 35,000 $ 37,500 $ 71,000 $ 86,000 Requirement:1. Compute the predetermined manufacturing overhead rate.2. Calculate the allocated manufacturing overhead for the past year. The Alderman Company has prepared a sales budget of 48,000 finished units for a 3-month period. The company has an inventory of 14,000 units of finished goods on hand on December 31 and has a target finished goods inventory of 16,000 units at the end of the succeeding quarter. It takes 2 gallons of direct materials to make one unit of the finished product. The company has an inventory of 68,000 gallons of direct materials on December 31 and has a target ending inventory of 58,000 gallons at the end of the succeeding quarter. How many gallons of direct materials should Alderman Company purchase during the 3 months ending March 31? Tech Solvers produces 8-foot USB cables. During the past year, the company purchased 59,374,000 feet of plastic-coated wire at a price of $0.28 per foot. The standard of The direct material for the cables allows 8.56 feet of wire at a standard price of $0.26. During the year, the company used a total of 534,690 feet of wire to produce 69,400 8-foot cables. Calculate Tech Solvers' direct materials quantity variance for the year.

College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter26: Manufacturing Accounting: The Job Order Cost System
Section: Chapter Questions
Problem 2SEB: SCHEDULE OF COST OF GOODS MANUFACTURED The following information is supplied for Sanchez Welding and...
See similar textbooks
icon
Related questions
Question
Question:75 Use the data given below. Direct labor hours Machine hours Depreciation on salespeople's autos Indirect materials Depreciation on trucks used to deliver uniforms to Depreciation on plant and equipment Indirect manufacturing labor Customer service hotline Plant utilities Direct labor cost Budget Actual 7,600 6,100 7,000 6,500 $ 21,500 $ 21,500 $ 49,000 $ 54,500 $13,000 $10,500 $ 66,000 $ 67,000 $ 39,000 $ 40,000 $ 19,500 $ 21,000 $ 35,000 $ 37,500 $ 71,000 $ 86,000 Requirement:1. Compute the predetermined manufacturing overhead rate.2. Calculate the allocated manufacturing overhead for the past year. The Alderman Company has prepared a sales budget of 48,000 finished units for a 3-month period. The company has an inventory of 14,000 units of finished goods on hand on December 31 and has a target finished goods inventory of 16,000 units at the end of the succeeding quarter. It takes 2 gallons of direct materials to make one unit of the finished product. The company has an inventory of 68,000 gallons of direct materials on December 31 and has a target ending inventory of 58,000 gallons at the end of the succeeding quarter. How many gallons of direct materials should Alderman Company purchase during the 3 months ending March 31? Tech Solvers produces 8-foot USB cables. During the past year, the company purchased 59,374,000 feet of plastic-coated wire at a price of $0.28 per foot. The standard of The direct material for the cables allows 8.56 feet of wire at a standard price of $0.26. During the year, the company used a total of 534,690 feet of wire to produce 69,400 8-foot cables. Calculate Tech Solvers' direct materials quantity variance for the year.
Transcribed Image Text:Question:75 Use the data given below. Direct labor hours Machine hours Depreciation on salespeople's autos Indirect materials Depreciation on trucks used to deliver uniforms to Depreciation on plant and equipment Indirect manufacturing labor Customer service hotline Plant utilities Direct labor cost Budget Actual 7,600 6,100 7,000 6,500 $ 21,500 $ 21,500 $ 49,000 $ 54,500 $13,000 $10,500 $ 66,000 $ 67,000 $ 39,000 $ 40,000 $ 19,500 $ 21,000 $ 35,000 $ 37,500 $ 71,000 $ 86,000 Requirement:1. Compute the predetermined manufacturing overhead rate.2. Calculate the allocated manufacturing overhead for the past year. The Alderman Company has prepared a sales budget of 48,000 finished units for a 3-month period. The company has an inventory of 14,000 units of finished goods on hand on December 31 and has a target finished goods inventory of 16,000 units at the end of the succeeding quarter. It takes 2 gallons of direct materials to make one unit of the finished product. The company has an inventory of 68,000 gallons of direct materials on December 31 and has a target ending inventory of 58,000 gallons at the end of the succeeding quarter. How many gallons of direct materials should Alderman Company purchase during the 3 months ending March 31? Tech Solvers produces 8-foot USB cables. During the past year, the company purchased 59,374,000 feet of plastic-coated wire at a price of $0.28 per foot. The standard of The direct material for the cables allows 8.56 feet of wire at a standard price of $0.26. During the year, the company used a total of 534,690 feet of wire to produce 69,400 8-foot cables. Calculate Tech Solvers' direct materials quantity variance for the year.
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
Principles of Accounting Volume 2
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Managerial Accounting: The Cornerstone of Busines…
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
Financial & Managerial Accounting
Financial & Managerial Accounting
Accounting
ISBN:
9781337119207
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS