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The direct labor budget of Yuvwell Corporation for the upcoming fiscal year contains the following details concerning budgeted direct labor-hours: 1st Quarter 11,800 2nd Quarter 10,100 3rd Quarter 10,400 Required 1 Required 2 Budgeted direct labor-hours The company uses direct labor-hours as its overhead allocation base. The variable portion of its predetermined manufacturing overhead rate is $6.75 per direct labor-hour and its total fixed manufacturing overhead is $86,000 per quarter. The only noncash item included in fixed manufacturing overhead is depreciation, which is $21,500 per quarter. Required: 1. Prepare the company's manufacturing overhead budget for the upcoming fiscal year. 2. Compute the company's predetermined overhead rate (including both variable and fixed manufacturing overhead) for the upcoming fiscal year. 4th Quarter 11,200 Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below.

The direct labor budget of Yuvwell Corporation for the upcoming fiscal year contains the following details concerning budgeted direct labor-hours: 1st Quarter 11,800 2nd Quarter 10,100 3rd Quarter 10,400 Required 1 Required 2 Budgeted direct labor-hours The company uses direct labor-hours as its overhead allocation base. The variable portion of its predetermined manufacturing overhead rate is $6.75 per direct labor-hour and its total fixed manufacturing overhead is $86,000 per quarter. The only noncash item included in fixed manufacturing overhead is depreciation, which is $21,500 per quarter. Required: 1. Prepare the company's manufacturing overhead budget for the upcoming fiscal year. 2. Compute the company's predetermined overhead rate (including both variable and fixed manufacturing overhead) for the upcoming fiscal year. 4th Quarter 11,200 Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The direct labor budget of Yuvwell Corporation for the upcoming fiscal year contains the following details concerning budgeted direct labor-hours: 1st Quarter 11,800 2nd Quarter 10,100 Required 1 Required 2 3rd Quarter 10,400 Budgeted direct labor-hours The company uses direct labor-hours as its overhead allocation base. The variable portion of its predetermined manufacturing overhead rate is $6.75 per direct labor-hour and its total fixed manufacturing overhead is $86,000 per quarter. The only noncash item included in fixed manufacturing overhead is depreciation, which is $21,500 per quarter. Required: 1. Prepare the company's manufacturing overhead budget for the upcoming fiscal year. 2. Compute the company's predetermined overhead rate (including both variable and fixed manufacturing overhead) for the upcoming fiscal year. > Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. < Required 1 4th Quarter 11, 200 Compute the company's predetermined overhead rate (including both variable and fixed manufacturing overhead) for the upcoming fiscal year. (Round your answer to 2 decimal places.) Predetermined overhead rate for the year Required 2 >
Transcribed Image Text:The direct labor budget of Yuvwell Corporation for the upcoming fiscal year contains the following details concerning budgeted direct labor-hours: 1st Quarter 11,800 2nd Quarter 10,100 Required 1 Required 2 3rd Quarter 10,400 Budgeted direct labor-hours The company uses direct labor-hours as its overhead allocation base. The variable portion of its predetermined manufacturing overhead rate is $6.75 per direct labor-hour and its total fixed manufacturing overhead is $86,000 per quarter. The only noncash item included in fixed manufacturing overhead is depreciation, which is $21,500 per quarter. Required: 1. Prepare the company's manufacturing overhead budget for the upcoming fiscal year. 2. Compute the company's predetermined overhead rate (including both variable and fixed manufacturing overhead) for the upcoming fiscal year. > Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. < Required 1 4th Quarter 11, 200 Compute the company's predetermined overhead rate (including both variable and fixed manufacturing overhead) for the upcoming fiscal year. (Round your answer to 2 decimal places.) Predetermined overhead rate for the year Required 2 >
The direct labor budget of Yuvwell Corporation for the upcoming fiscal year contains the following details concerning budgeted direct labor-hours: 1st Quarter 11,800 Required 1 Required 2 Budgeted direct labor-hours The company uses direct labor-hours as its overhead allocation base. The variable portion of its predetermined manufacturing overhead rate is $6.75 per direct labor-hour and its total fixed manufacturing overhead is $86,000 per quarter. The only noncash item included in fixed manufacturing overhead is depreciation, which is $21,500 per quarter. 2nd Quarter 10,100 Required: 1. Prepare the company's manufacturing overhead budget for the upcoming fiscal year. 2. Compute the company's predetermined overhead rate (including both variable and fixed manufacturing overhead) for the upcoming fiscal year. Budgeted direct labor-hours Variable manufacturing overhead rate Variable manufacturing overhead Complete this question by entering your answers in the tabs below. Fixed manufacturing overhead Total manufacturing overhead Less: Depreciation > Answer is complete but not entirely correct. Prepare the company's manufacturing overhead budget for the upcoming fiscal year. (Round "Variable manufacturing overhead rate" answers to 2 decimal places.) Yuvwell Corporation Manufacturing Overhead Budget 2nd Quarter 10,100✔ ✓ 3rd Quarter 10,400 1st Quarter 11,800✔ X X 86,000✔ 21,500✔ X X 86,000✔ 4th Quarter 11, 200 3rd Quarter 10,400✔ 11,200 4th Quarter X X 86,000✔ X 21,500✔ 21,500✔ 86,000✔ X 21,500✔ Year 43,500✔ X X 344,000✔ X 86,000✔
Transcribed Image Text:The direct labor budget of Yuvwell Corporation for the upcoming fiscal year contains the following details concerning budgeted direct labor-hours: 1st Quarter 11,800 Required 1 Required 2 Budgeted direct labor-hours The company uses direct labor-hours as its overhead allocation base. The variable portion of its predetermined manufacturing overhead rate is $6.75 per direct labor-hour and its total fixed manufacturing overhead is $86,000 per quarter. The only noncash item included in fixed manufacturing overhead is depreciation, which is $21,500 per quarter. 2nd Quarter 10,100 Required: 1. Prepare the company's manufacturing overhead budget for the upcoming fiscal year. 2. Compute the company's predetermined overhead rate (including both variable and fixed manufacturing overhead) for the upcoming fiscal year. Budgeted direct labor-hours Variable manufacturing overhead rate Variable manufacturing overhead Complete this question by entering your answers in the tabs below. Fixed manufacturing overhead Total manufacturing overhead Less: Depreciation > Answer is complete but not entirely correct. Prepare the company's manufacturing overhead budget for the upcoming fiscal year. (Round "Variable manufacturing overhead rate" answers to 2 decimal places.) Yuvwell Corporation Manufacturing Overhead Budget 2nd Quarter 10,100✔ ✓ 3rd Quarter 10,400 1st Quarter 11,800✔ X X 86,000✔ 21,500✔ X X 86,000✔ 4th Quarter 11, 200 3rd Quarter 10,400✔ 11,200 4th Quarter X X 86,000✔ X 21,500✔ 21,500✔ 86,000✔ X 21,500✔ Year 43,500✔ X X 344,000✔ X 86,000✔
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