The direct labour budget of Yuvwell Corporation for the upcoming fiscal year contains the following details concerning budgeted direct labour-hours: Budgeted direct labour-hours 1st 2nd 3rd 4th Quarter Quarter Quarter Quarter 8,200 8,300 8,600 8,000 The company's variable manufacturing overhead rate is $2.25 per direct labour-hour and the company's fixed manufacturing overhead is $50,000 per quarter. The only non-cash item included in fixed manufacturing overhead is depreciation, which is $12,500 per quarter.
The direct labour budget of Yuvwell Corporation for the upcoming fiscal year contains the following details concerning budgeted direct labour-hours: Budgeted direct labour-hours 1st 2nd 3rd 4th Quarter Quarter Quarter Quarter 8,200 8,300 8,600 8,000 The company's variable manufacturing overhead rate is $2.25 per direct labour-hour and the company's fixed manufacturing overhead is $50,000 per quarter. The only non-cash item included in fixed manufacturing overhead is depreciation, which is $12,500 per quarter.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
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Transcribed Image Text:2. Compute the company's manufacturing overhead rate (including both variable and fixed manufacturing overhead) for the upcoming
fiscal year.
Total budgeted manufacturing overhead for the year
Budgeted direct labour-hours for the year
Predetermined overhead rate for the year
Transcribed Image Text:The direct labour budget of Yuvwell Corporation for the upcoming fiscal year contains the following details concerning budgeted direct
labour-hours:
Budgeted direct labour-hours
1st
2nd
3rd
Quarter Quarter Quarter
8,200 8,300 8,600
4th
Quarter
8,000
The company's variable manufacturing overhead rate is $2.25 per direct labour-hour and the company's fixed manufacturing overhead
is $50,000 per quarter. The only non-cash item included in fixed manufacturing overhead is depreciation, which is $12,500 per quarter.
Required:
1. Complete the company's manufacturing overhead budget for the upcoming fiscal year.
Variable manufacturing overhead
Fixed manufacturing overhead
Total manufacturing overhead
Less depreciation
Cash disbursements for manufacturing overhead
Yuvwell Corporation
Manufacturing Overhead Budget
1st Quarter
2nd Quarter
3rd Quarter 4th Quarter
Year
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