Questions Question 1 Aero3D Ltd produces a range of filament cartridges for 3D printers. The cartridges are produced in batches. The production process involves condensing, shaping, and putting on spools using two special machines and manual labour. Two of their filament cartridges are the XS PRO and the POLYX both made from thermoplastic polyester. The XS PRO is selling for £175 and the PLOYX for £225. The budgeted data for 2021 is as follows: MODEL: XS PRO POLYX 3,400 1,800 Budgeted output for the year units units Direct material weight per unit 1.2kg 1.4kg Direct material cost per unit £8 £10 Direct labour time per unit 0.1 hour 0.2 hour Direct labour cost per unit £2.00 £4.00 Number of batches 60 40 Shaping machine time per unit 0.50 hour 0.70 hour ACTIVITY COST POOL Condensing machine £450,000 Shaping machine £130,000 Manual handling of material £55,000 Budgeted core costs, for management and administration, are £62,000. COST DRIVER Number of production batches Shaping machine hours Weight of material handled

Questions Question 1 Aero3D Ltd produces a range of filament cartridges for 3D printers. The cartridges are produced in batches. The production process involves condensing, shaping, and putting on spools using two special machines and manual labour. Two of their filament cartridges are the XS PRO and the POLYX both made from thermoplastic polyester. The XS PRO is selling for £175 and the PLOYX for £225. The budgeted data for 2021 is as follows: MODEL: XS PRO POLYX 3,400 1,800 Budgeted output for the year units units Direct material weight per unit 1.2kg 1.4kg Direct material cost per unit £8 £10 Direct labour time per unit 0.1 hour 0.2 hour Direct labour cost per unit £2.00 £4.00 Number of batches 60 40 Shaping machine time per unit 0.50 hour 0.70 hour ACTIVITY COST POOL Condensing machine £450,000 Shaping machine £130,000 Manual handling of material £55,000 Budgeted core costs, for management and administration, are £62,000. COST DRIVER Number of production batches Shaping machine hours Weight of material handled

Name: QuestionsQuestion 1Aero3D Ltd produces a range of filament cartridges
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: QuestionsQuestion 1Aero3D Ltd produces a range of filament cartridges for 3D printers. The cartridges areproduced in batches. The production process involves condensing, shaping, and putting onspools using two special machines and manual labour.Two

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 6EB: Given the following information from Power Enterprises direct materials budget, how much direct...

See similar textbooks

Similar questions

On the production budget, the number of units to be produced is computed as Select one: a. unit sales + desired end inventory + beginning inventory. b. unit sales - desired end inventory - beginning inventory. c. unit sales - desired end inventory + beginning inventory. d. unit sales + desired end inventory - beginning inventory. e. unit sales - cost of goods sold + beginning inventory. PreviousSave AnswersNext
please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image)
1. Match each of the following terms with the appropriate definition. The difference between actual and budgeted revenue or cost caused by the difference between the actual number of units sold or used and the budgeted number of units. A budget prepared after an operating period is complete in order to help managers evaluate past performance; uses fixed and variable costs in determining total costs. The costs that should be incurred under normal conditions to produce a specific product or to perform a specific service. The difference between 1. Cost Variance total overhead cost that would have been expected if the actual operating 2. Volume Variance volume had been accurately predicted and 3. Price Variance the amount of overhead cost that was allocated to products using the predetermined standard overhead rate. 4. Quantity Variance 5. Standard Costs A planning budget based on a single predicted amount 6. Fixed Budget of sales or production volume; unsuitable for 7. Flexible Budget…
How do I prepare the bugdet and replace all question marks into formula?
This is the length of time it takes to initiate and complete a finished product. O a. Fiscal year O b. Accounting year c. Production cycle Od. Short-term QUESTION 21 Costs that remain constant even with changes in production level. O a. Variable costs O b. Start-up costs O c. Semi-variable costs O d. Fixed costs QUESTION 22 The challenge of budgeting is to determine what will change and what will stay the same. O True False QUESTION 23 The numbers on tax returns (cash basis) are the same as the number we use to manage a department (accrual basis). O True O False QUESTION 24 A pattern of change over several time periods which can help us make estimates for the future is a. a gap. Ob. a fixed cost. Oc. a transformation. d. a trend.
Below in the first table, required level of competencies and performance evaluations are given. If you are asked to prepare training budget, what would be the minimum budget to give all required trainings?
Kaizen Costing Required: 1. Recommend to management an AIS system diagram presenting the Budget Profit Planning Process using the 6-level planning. At the end part of the diagram integrate the mathematical models or formulas in determining budgeted operating profit. 2. Present by drawing a diagram (concept map), of the process of arriving at Target Kaizen Cost
Determine the firm fixed cost?
The management of Hartman Company is trying to determine the amount of each of two products to produce over the coming planning period. The following information concerns labor availability, labor utilization, and product profitability: Labor-Hours Required(hours/unit) Department Product 1 Product 2 Hours Available A 1.00 0.35 95 B 0.30 0.20 36 C 0.20 0.50 50 Profit contribution/unit $30.00 $15.00 (a) Develop a linear programming model of the Hartman Company problem. Solve the model to determine the optimal production quantities of products 1 and 2. If required, round your answer to two decimal places. Product 1 Product 2 Production (b) In computing the profit contribution per unit, management does not deduct labor costs because they are considered fixed for the upcoming planning period. However, suppose that overtime can be scheduled in some of the departments. Which departments would you recommend scheduling for…
Production budget help
A budget: A.is used to determine if a product should be continued or discontinued B.complies actual costs for a given period C.quantifies management's plans D.determines and evaluates the cost of specific products or activities in a business
a) Classify each cost element as either fixed, variable, or mixed b) Calculate: (i) the variable production cost per unit and the total fixed production overhead. (ii) The total variable cost per unit and the total fixed costs Hint: Use the high-low method to separate mixed costs into their fixed and variable components. c) Assuming sales of 5,000 units, prepare a contribution margin income statement for the year ended December 31, 2020, detailing the components of total variable costs and total fixed costs, and clearly showing contribution and net income.