Smith Corporation makes and sells a single product called a Pod. Each Pod requires 1.6 direct labor-hours at $9.80 per direct labor-hour. The direct labor workforce is fully adjusted each month to the required workload. Smith Corporation is preparing a Direct Labor Budget for the second quarter of the year. In June the company has budgeted to produce 22,200 Pods. Budgeted direct labor costs incurred in June would be: (Round your intermediate calculations to 2 decimal places.) Multiple Choice с $524,404 $348,096 $251,080 $217,560

Smith Corporation makes and sells a single product called a Pod. Each Pod requires 1.6 direct labor-hours at $9.80 per direct labor-hour. The direct labor workforce is fully adjusted each month to the required workload. Smith Corporation is preparing a Direct Labor Budget for the second quarter of the year. In June the company has budgeted to produce 22,200 Pods. Budgeted direct labor costs incurred in June would be: (Round your intermediate calculations to 2 decimal places.) Multiple Choice с $524,404 $348,096 $251,080 $217,560

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

Angelo Limited is preparing its budget for the next year. It produces and sells a single product. The expected sales for the first 4 months of next year are: Month January February March April Production units 10,500 12,700 14,200 16,100 The product requires 2.5 kg of Material A1 per unit. It is the company’s policy to hold in inventory at the end of a month 20% of the material requirement for the following month. Calculate the material purchases for the month of February based on the information provided. Production cost is: The total overhead cost incurred in producing products. The total of the direct costs and the production overhead cost incurred. The total of the direct costs incurred in production. The cost of direct material, direct labour and indirect labour incurred in production.
The production department of Headstrong Company has submitted the following forecast of units to be produced by quarter for the upcoming fiscal year: 1st Quarter 2nd Quarter 3rd Quarter 4th G Quarter Units to be produced 7,000 8,000 6,000 5.000 In addition, the beginning raw materials inventory for the first quarter is budgeted to be 1,400 kilograms and the beginning accounts payable for the first quarter are budgeted to be $2,940. Each unit requires two kilograms of raw material that costs $1.40 per kilogram. Management desires to end each quarter with an inventory of raw materials equal to 10% of the following quarter's production needs. The desired ending inventory for the fourth quarter is 1, 500 kilograms. Management plans to pay for 80% of raw material purchases in the quarter acquired and 20% in the following quarter. Each unit requires 0.60 direct labour - hours, and direct labour - hour workers are paid $14 per hour. Required: 1. Prepare the company's direct materials budget…
Movers Company manufactures sneakers. Production of their new sneaker for the coming three months is budgeted as follows: August 50,000 September 62,000 October 48,000 Each sneaker requires 1.5 hours of direct labor time. Direct labor wages average $16 per hour. Monthly variable overhead averages $8 per direct labor hour plus fixed overhead of $700,000. What is the total overhead budgeted for the month of September?
Pooler Corporation is working on its direct labor budget for the next two months. Each unit of output requires 0.20 direct labor-hours. The direct labor rate is $7.00 per direct labor-hour. The production budget calls for producing 6,900 units in April and 6,700 units in May. If the direct labor work force is fully adjusted to the total direct labor-hours needed each month, what would be the total combined direct labor cost for the two months? Multiple Choice O $19,530 $19,705 $19,040 $19,215
Tucker Inc. makes dog treats. The material to be purchased from the production budget is as follows: April May JuneMaterial to be purchased 161,800 270,900 195,600 Tucker Inc. pays $0.40 per kilo for its material. 60% of a months purchases are paid for in th month of purchase, 40% is paid for in the following month. The March 31 accounts payable balance is $10,000 and will be paid in full in the first month. The total cash disbursement for April is ____________ The total cash disbursement for May is ____________ The total cash disbursement for June is ____________ The total cash disbursement for the quarter is____________
Zira Company reports the following production budget for the next four months. Each finished unit requires six pounds of direct materials, and the company wants to end each month with direct materials inventory equal to 40% of next month's production needs. Beginning direct materials inventory for April was 1,541 pounds. Direct materials cost $5 per pound. Prepare a direct materials budget for April, May, and June. (Round your answers to the nearest whole number.) April May June 642 670 676 Units to produce Check my work July 656
Each unit requires direct labor of 1.5 hours. The labor rate is $10.83 per hour and next year’s direct labor budget totals $732,156. How many units are included in the production budget for next year? Round to the nearest penny, two decimal places.
Sunrise Poles manufactures hiking poles and is planning on producing 3,646 units in March and 4,395 in April. Each pole requires a half pound of material, which costs $1.17 per pound. The company’s policy is to have enough material on hand to equal 7% of the next month’s production needs and to maintain a finished goods inventory equal to 17% of the next month’s production needs. What is the budgeted cost of purchases for March? Round to the nearest penny, two decimal places.
Yeaman has $13,000 in cash on hand on January 1 and has collected the following budget data: (Click on the icon to view the budget data) Assume direct labor costs and manufacturing overhead costs are paid in the month incurred. Additionally, assume Yeaman has cash payments for selling and administrative expenses including salaries of $65,000 per month plus commissions that are 1% of sales, all paid in the month of sale. The company requires a minimum cash balance of $1,000. Prepare a cash budget for January and February. Round to the nearest dollar. Will Yeaman need to borrow cash by the end of February? Begin by preparing the cash budget for January, then prepare the cash budget for February (Complete all input fields. Enter a "0" for any zero balances. Round all amounts entered into the cash budget to the nearest whole dollar.) Data table Sales Cash receipts from customers Cash payments for direct materials purchases Direct labor costs Manufacturing overhead costs (includes…
Shalom Company prepared its 2023 direct labor budget to produce Product Peace. Producing each unit requires 1.5 direct labor hours and the company estimates that the hourly rate for wage for each quarter are P280, P290, P300, P305, respectively. Month Units January February March April May June July August September October November December 500 1,000 600 800 1,400 900 800 1,200 500 900 700 3,000 Amounts must be in whole numbers. Example: 88,000 or (88,000) How much is the total direct labor budget? For second half of 2023
Each unit requires direct labor of 1.5 hours. The labor rate is $11.86 per hour and next year’s direct labor budget totals $795,253. How many units are included in the production budget for next year? Round to the nearest penny, two decimal places.
Zira Company reports the following production budget for the next four months. Each finished unit requires four pounds of direct materials, and the company wants to end each month with direct materials inventory equal to 30% of next month's production needs. Beginning direct materials inventory for April was 847 pounds. Direct materials cost $5 per pound. Prepare a direct materials budget for April, May, and June. (Round your answers to the nearest whole number.) Units to produce April May June 706 760 738 Units to produce Materials required per unit Materials needed for production (pounds) Add: Desired ending materials inventory (pounds) Total materials required (pounds) Less: Beginning materials inventory (pounds) Materials to purchase (pounds) Materials cost per pound Cost of direct materials purchases July 718 ZIRA COMPANY Direct Materials Budget April $ $ 706 4 2,824 2,824 ↑ 5 $ 0 $ May 760 4 3,040 Saved 3,040 June 5 $ 0 $ 738 units 4 pounds 2,952 pounds 2,952 pounds 5 per pound 0…