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The Bakery Department of Culbert Dessert Corporation has submitted the following forecast of fruit pies to be produced by quarter for the upcoming fiscal year. Units to be produced First Quarter 8,300 Second Third Fourth Quarter Quarter Quarter 11,300 9,300 13,300 Each unit requires 0.60 direct labour-hours, and direct labour-hour workers are paid $9.00 per hour. In addition, the variable manufacturing overhead rate is $1.50 per direct labour-hour. The fixed manufacturing overhead is $23,750 per quarter. The only non-cash element of manufacturing overhead is depreciation, which is $7,150 per quarter. Required: 1. Prepare the company's direct labour budget for the upcoming fiscal year, assuming that the direct labour workforce is adjusted each quarter to match the number of hours required to produce the forecast number of units produced.

The Bakery Department of Culbert Dessert Corporation has submitted the following forecast of fruit pies to be produced by quarter for the upcoming fiscal year. Units to be produced First Quarter 8,300 Second Third Fourth Quarter Quarter Quarter 11,300 9,300 13,300 Each unit requires 0.60 direct labour-hours, and direct labour-hour workers are paid $9.00 per hour. In addition, the variable manufacturing overhead rate is $1.50 per direct labour-hour. The fixed manufacturing overhead is $23,750 per quarter. The only non-cash element of manufacturing overhead is depreciation, which is $7,150 per quarter. Required: 1. Prepare the company's direct labour budget for the upcoming fiscal year, assuming that the direct labour workforce is adjusted each quarter to match the number of hours required to produce the forecast number of units produced.

FINANCIAL ACCOUNTING
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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3 The Bakery Department of Culbert Dessert Corporation has submitted the following forecast of fruit pies to be produced by quarter for the upcoming fiscal year. Units to be produced First Quarter 8,300 Units to be produced Direct labour time per unit (hours) Total direct labour-hours needed Direct labour cost per hour Total direct labour cost Second Third Quarter Quarter 11,300 9,300 Each unit requires 0.60 direct labour-hours, and direct labour-hour workers are paid $9.00 per hour. In addition, the variable manufacturing overhead rate is $1.50 per direct labour-hour. The fixed manufacturing overhead is $23,750 per quarter. The only non-cash element of manufacturing overhead is depreciation, which is $7,150 per quarter. Required: 1. Prepare the company's direct labour budget for the upcoming fiscal year, assuming that the direct labour workforce is adjusted each quarter to match the number of hours required to produce the forecast number of units produced. Fourth Quarter 13,300 Culbert Dessert Corporation Direct Labour Budget Second Quarter First Quarter Third Quarter Fourth Quarter Year
Transcribed Image Text:3 The Bakery Department of Culbert Dessert Corporation has submitted the following forecast of fruit pies to be produced by quarter for the upcoming fiscal year. Units to be produced First Quarter 8,300 Units to be produced Direct labour time per unit (hours) Total direct labour-hours needed Direct labour cost per hour Total direct labour cost Second Third Quarter Quarter 11,300 9,300 Each unit requires 0.60 direct labour-hours, and direct labour-hour workers are paid $9.00 per hour. In addition, the variable manufacturing overhead rate is $1.50 per direct labour-hour. The fixed manufacturing overhead is $23,750 per quarter. The only non-cash element of manufacturing overhead is depreciation, which is $7,150 per quarter. Required: 1. Prepare the company's direct labour budget for the upcoming fiscal year, assuming that the direct labour workforce is adjusted each quarter to match the number of hours required to produce the forecast number of units produced. Fourth Quarter 13,300 Culbert Dessert Corporation Direct Labour Budget Second Quarter First Quarter Third Quarter Fourth Quarter Year
3 Total direct labour cost 2. Prepare the company's manufacturing overhead budget. As per Schedule 5, your manufacturing overhead budget should also include the budgeted cash disbursements for overhead. Budgeted direct labour-hours Variable overhead rate Variable manufacturing overhead Fixed manufacturing overhead Total manufacturing overhead Cash disbursements for manufacturing overhead Culbert Dessert Corporation Manufacturing Overhead Budget First Quarter $ $ Second Quarter 0 $ 0 0 $ Third Quarter 0 $ 0 0 $ Fourth Quarter 0 $ 0 0 $ 0 $ 0 0 $ Year 0 0 0
Transcribed Image Text:3 Total direct labour cost 2. Prepare the company's manufacturing overhead budget. As per Schedule 5, your manufacturing overhead budget should also include the budgeted cash disbursements for overhead. Budgeted direct labour-hours Variable overhead rate Variable manufacturing overhead Fixed manufacturing overhead Total manufacturing overhead Cash disbursements for manufacturing overhead Culbert Dessert Corporation Manufacturing Overhead Budget First Quarter $ $ Second Quarter 0 $ 0 0 $ Third Quarter 0 $ 0 0 $ Fourth Quarter 0 $ 0 0 $ 0 $ 0 0 $ Year 0 0 0
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