Required Information Use the following information for the Quick Study below. Miami Solar manufactures solar panels for industrial use. The company budgets production of 4,200 units (solar panels) in July and 4,500 units in August. QS 20-15 Manufacturing: Factory overhead budget LO P1 Each unit requires 4 hours of direct labor at a rate of $15 per hour. Variable factory overhead is budgeted to be 60% of direct labor cost, and fixed factory overhead is $171,000 per month. Prepare a factory overhead budget for August. MIAMI SOLAR Factory Overhead Budget For Month Ended August 31 Budgeted total overhead

Required Information Use the following information for the Quick Study below. Miami Solar manufactures solar panels for industrial use. The company budgets production of 4,200 units (solar panels) in July and 4,500 units in August. QS 20-15 Manufacturing: Factory overhead budget LO P1 Each unit requires 4 hours of direct labor at a rate of $15 per hour. Variable factory overhead is budgeted to be 60% of direct labor cost, and fixed factory overhead is $171,000 per month. Prepare a factory overhead budget for August. MIAMI SOLAR Factory Overhead Budget For Month Ended August 31 Budgeted total overhead

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

answer in text form please (without image)
Get Answer
Miami Solar manufactures solar panels for industrial use. The company budgets production of 4,200 units (solar panels) in July and 4,600 units in August. Each unit requires 5 hours of direct labor at a rate of $15 per hour. Prepare a direct labor budget for July. MIAMI SOLAR Direct Labor Budget For Month Ended July 31 Budgeted production 4,200 Total labor hours needed Budgeted cost of direct labor
Play-Disc makes Frisbee-type plastic discs. Each 12-inch diameter plastic disc has the following manufacturing costs: Direct materials $1.80 Direct labor 0.50 Variable overhead 0.85 Fixed overhead 1.85 Total unit cost $5.00 For the coming year, Play-Disc expects to make 400,000 plastic discs, and to sell 383,000 of them. Budgeted beginning inventory in units is 16,000 with unit cost of $5.00. (There are no beginning or ending inventories of work in process.) Required: Question Content Area 1. Calculate the total budgeted cost of units produced for Play-Disc for the coming year. Show the cost of direct materials, direct labor, and overhead. Budgeted direct materials $fill in the blank 21aae9fe404efef_1 Budgeted direct labor fill in the blank 21aae9fe404efef_2 Budgeted overhead fill in the blank 21aae9fe404efef_3 Total budgeted manufacturing cost $fill in the blank 21aae9fe404efef_4 Question Content Area 2. Prepare a cost of goods sold…
Please do not give solution in image format thanku
i need the answer quickly
A company produces industrial rotors and provides the following additional information about steel, which is a direct material for the rotors: Pounds of steel needed per rotor Steel cost At the end of each month, the company wants to have 30% of the raw materials that will be needed for the next month on hand. Budgeted rotor production for the next two months is: November December 9 pounds $2.34/pound 10,000 rotors 8,000 rotors What will be the budgeted cost of steel purchases for November? (Round the final answer to the nearest dollars and cents and remember that your final answer should be a cost, not a number of pounds.)
Lakeside Bakery makes pies. Each pie requires 1/2 of a direct labor hour. The variable overhead rate is S0.50 per direct labor hour. Lakeside's estimated fixed overhead is $425,000. Lakeside budgets pie production at 600,000 pies for the upcoming year. What is Lakeside's total estimated overhead? $625,000 $420,000 $635,000 $425,000 O $845,000
please answer all requirements with explanation , computation , formulation and steps thanks for help in advance The total factory overhead for Bardot Marine Company is budgeted for the year at $600,000 divided into two departments: Fabrication, $420,000, and Assembly, $180,000. Bardot Marine manufactures two types of boats: speedboats and bass boats. The speedboats require 8 direct labor hours (dlh) in Fabrication and 4 direct labor hours in Assembly. The bass boats require 4 direct labor hours in Fabrication and 8 direct labor hours in Assembly. Each product is budgeted for 250 units of production for the year. A. Determine the total number of budgeted direct labor hours for the year in each department. Fabrication direct labor hours Assembly direct labor hours B. Determine the departmental factory overhead rates for both departments. When required, round all per-unit answers to the nearest cent. Fabrication per dlh Assembly per dlh C. Determine the factory…
3
Apple manufacturing company produces a single standard product. The standard overhead cost budgets are K 100,000 for this month is 20,000 direct labour hours based on the production budget. The standard cost card for the product is as follows: Materials Direct Labour Factory overhead K 100.00 5 pieces @ K 10.00 = K 50.00 5 hours @ K 5.00 = K 25.00 5 hour @ K 5.00 = K 25.00 The following transactions occurred during the month of March 2007. (a) Direct materials purchased 3,000 pieces @ K 9.00. (b) Direct maerials requisition 1,900 pieces. (c) Actual direct labour costs 2,100 hours @ K 5.25 (d) Production completed during March 420 units. Required: Calculate the materials and labour variances.
Play-Disc makes Frisbee-type plastic discs. Each 12-inch diameter plastic disc has the following manufacturing costs: Direct materials $1.65 Direct labor 0.50 Variable overhead 0.75 Fixed overhead 1.90 Total unit cost $4.80 For the coming year, Play-Disc expects to make 380,000 plastic discs, and to sell 369,000 of them. Budgeted beginning inventory in units is 20,000 with unit cost of $4.80. (There are no beginning or ending inventories of work in process.) Required: 1. Prepare an ending finished goods inventory budget for Play-Disc for the coming year. If required, round your answers to the nearest cent. Play-DiscEnding Finished Goods Inventory BudgetFor the Coming Year Unit costs: Direct materials $______ Direct labor _____ Overhead: _____ Budgeted variable overhead ______ Budgeted fixed overhead ______ Total cost per unit $______ Total ending inventory cost $_____ 2. What if sales increased to 379,000 discs? How would that…