The Direct Labor Budget - Part 4 A B C D E G H 1234567 April May June Quarter Units of production 26,000 46,000 29,000 101,000 Direct labor time per unit Labor hours required 0.05 0.05 0.05 0.05 1,300 2,300 1,450 5,050 Hourly wage rate $ 10 $ 10 $ 10 $ 10 Total direct labor costs $ 13,000 $ 23,000 $ 14,500 $ 50,500 8 CMcGraw-Hill Education. All rights reserved. Authorized only for instructor use in the classroom. No reproduction further distribution permitted without the prior written consent of McGraw-Hill Education. Quick Check 5 What would be the total direct labor cost for the quarter if the company pays time and one-half ($10 x 1.5 $15) for all hours worked by employees over 2,000 per month. a. $51,700 b. $52,000 c. $53,250 d. $57,000 8-52

The Direct Labor Budget - Part 4 A B C D E G H 1234567 April May June Quarter Units of production 26,000 46,000 29,000 101,000 Direct labor time per unit Labor hours required 0.05 0.05 0.05 0.05 1,300 2,300 1,450 5,050 Hourly wage rate $ 10 $ 10 $ 10 $ 10 Total direct labor costs $ 13,000 $ 23,000 $ 14,500 $ 50,500 8 CMcGraw-Hill Education. All rights reserved. Authorized only for instructor use in the classroom. No reproduction further distribution permitted without the prior written consent of McGraw-Hill Education. Quick Check 5 What would be the total direct labor cost for the quarter if the company pays time and one-half ($10 x 1.5 $15) for all hours worked by employees over 2,000 per month. a. $51,700 b. $52,000 c. $53,250 d. $57,000 8-52

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

S TICkel $76 Budgeted selling price per unit Budgeted unit sales (all on credit): 9,500 January 9,900 February March 10,600 12,600 April Raw materials requirement per unit of output 3pounds Raw materials cost $5.00per pound Direct labor requirement per unit of output 2.2direct labor-hours Direct labor wage rate $18.00per direct labor-hour Credit sales are collected: 40% in the month of the sale & 60% in the following month Raw materials puchases are paid: 30% in the month of purchase & 70% in the following month The ending finished goods inventory should equal 10% of the following month's sales. The ending raw materials inventory should equal 40% of the following month's raw materials production needs. Required: (LO_5) EXCEL a. What are the budgeted sales for February? b. What are the expected cash collections for February? c. According to the production budget, how many units should be produced in February? d. If 32,400 pounds of raw materials are needed for production in March, how…
Exercise 5 (Manufacturing Overhead Budget) The direct labor budget of Kiko Corporation for the upcoming fiscal year contains the following details concerning budgeted direct labor-hours. 1st quarter 2nd quarter 3rd quarter 4th quarter Budgeted direct labor hour.. . 5,000 4,800 5,200 5,400 The company's variable manufacturing overhead rate is P1.75 per direct labor- hour and the company's fixed manufacturing overhead is P35,000 per quarter. The only noncash item included in the fixed manufacturing overhead is depreciation, which is P15,000 per quarter. Required: 1. Construct the company's manufacturing overhead budget forthe upcoming fiscalYear. 2. Compute the company's manufacturing overhead rate (including both variable and fixed manufacturing overhead) for the upcoming fiscalyear. Round off to the nearest wholecentavos.
Kailashben
None
Question 18 Complete the Flexible Budget Performance Report below: Master Budget (100 hours) Flexible Budget (120 hours) Sales Revenue $2,000 ? Total Variable Costs $600 ? Total Fixed Costs $600 ? Total Variable Costs at 120 hours
Please do not give solution in image format thanku
Mirabel Manufacturing Budgeted Income Statement For the Year Ending December 31 Sales $ 36,750,000 Cost of goods sold: Variable $ 13,300,000 Fixed $ 9,300,000 Gross Margin $ 14,150,000 Selling & Administrative Commissions $ 4,410,000 Fixed Marketing Expenses $ 1,350,000 Fixed Administrative $ 6,000,000 Net Operating Income $ 2,390,000 Model 101 Model 201 Model 301 Normal Annual Sales Volume 16,000 19,000 11,000 Unit Selling Price $ 650 $ 750 $ 1,100 Variable expense per unit $ 250 $ 200 $ 500 What is Mirabel’s overall break-even point in sales dollars?
29
A9
11 The flexible budget of Coco Corp in different levels of direct labor hours Direct labor hours Variable 20,000 30,000 40,000 FOH 40,000 60,000 80,000 Fixed 10,000 10,000 10,000 FOH 11 Each product needs 5 direct labor hours, and the company expects to produce 2,000 units in 2021. Calculate the total factory overhead rate per unit using direct labor hours as allocate 12 Each product needs 5 direct labor hours, and the company expects to produce 2,000 units in 2021 CalCulate the total factory overhead rate per unit using production as allocation base
Please do not give solution in image format thanku
A6