The labor bonus for the production in June is: The total net savings to the company for the month of June after deducting the bonus is:
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Taekwood Inc. grants bonus to its plant employees equal to 50% pay for the time saved in production. The company has set up a standard rate of production of 200 units of cutting board per hour. The standard pay per labor hour is P8. Factory overhead varies at the rate of P2.50 per hour. During the month of June, the employees worked a total of 25,000 direct labor hours and produced 6,000,000 units of cutting boards. The total variable factory overhead amounted to P62,500. Bonus checks are issued to employees in the month following the month in which the standards are exceeded.
The labor bonus for the production in June is:
The total net savings to the company for the month of June after deducting the bonus is:
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- During its first year of operations, Forrest Company paid $30,000 for direct materials and $50,000 in wages for production workers. Lease payments, utility costs, and depreciation on factory equipment totaled $15,000. General, selling, and administrative expenses were $20,000. The average cost to produce one unit was $2.50. How many units were produced during the period?Thomlin Company forecasts that total overhead for the current year will be $11,176,000 with 183,000 total machine hours. Year to date, the actual overhead is $7,700,000 and the actual machine hours are 97,000 hours. The predetermined overhead rate based on machine hours is Round the factory overhead rate to the nearest dollar before multiplying by the number of hours.Harris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 42,000 direct labor-hours would be required for the period's estimated level of production. The company also estimated $571,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $3.00 per direct labor-hour. Harris's actual manufacturing overhead cost for the year was $773,298 and its actual total direct labor was 42,500 hours. Required: Compute the company's plantwide predetermined overhead rate for the year. (Round your answer to 2 decimal places.) Predetermined overhead rate per DLH
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- A company has two employees, Mark and James making a product. During the course of a week, both employees worked for 40 hours., Mark's rate of pay was $4.80 per hour and he produced 270 units of the product. James's rate of pay was $4.13 per hour and he produced 225 units. The budgeted time allowed to complete one unit of the product 10 minutes. Piecework rate is $0.72 per unit. Each employee is guaranteed a minimum wage based on his respective hourly rate. What is the gross wage for Mark If a bonus is paid at $3.60 for each hour saved? Select one: O a $210.00 O b. $162.00 Oc $240.00 O d. $194.00Harris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 31,000 direct labor-hours would be required for the period's estimated level of production. The company also estimated $517,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $3.00 per direct labor-hour. Harris's actual manufacturing overhead cost for the year was $670,239 and its actual total direct labor was 31,500 hours. Required: Compute the company's plantwide predetermined overhead rate for the year. (Round your answer to 2 decimal places.) X Answer is complete but not entirely correct. Predetermined overhead rate $ 22.13 X per DLHShadee Corporation expects to sell 630 sun shades in May and 400 in June. Each shade sells for $138. Shadee’s beginning and ending finished goods inventories for May are 65 and 50 shades, respectively. Ending finished goods inventory for June will be 50 shades. Suppose that each shade takes three direct labor hour to produce and Shadee pays its workers $12 per hour. Additionally, Shadee’s fixed manufacturing overhead is $12,000 per month, and variable manufacturing overhead is $11 per unit produced. Required: Prepare Shadee’s direct labor budget for May and June. Prepare Shadee’s manufacturing overhead budget for May and June.
- Fanning Corporation estimated its overhead costs would be $22,100 per month except for January when it pays the $207,120 annual insurance premium on the manufacturing facility. Accordingly, the January overhead costs were expected to be $229,220 ($207,120 + $22,100). The company expected to use 7,700 direct labor hours per month except during July, August, and September when the company expected 9,700 hours of direct labor each month to build inventories for high demand that normally occurs during the Christmas season. The company’s actual direct labor hours were the same as the estimated hours. The company made 3,850 units of product in each month except July, August, and September, in which it produced 4,850 units each month. Direct labor costs were $23.10 per unit, and direct materials costs were $10.30 per unit. Required a.Calculate a predetermined overhead rate based on direct labor hours. b.Determine the total allocated overhead cost for January, March, and August. c.Determine…Harris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 38,000 direct labor-hours would be required for the period's estimated level of production. The company also estimated $529,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $4.00 per direct labor-hour. Harris's actual manufacturing overhead cost for the year was $751,561 and its actual total direct labor was 38,500 hours. Required: Compute the company's plantwide predetermined overhead rate for the year. Note: Round your answer to 2 decimal places.Harris Fabrics computes its plantwide predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 27,000 direct labor-hours would be required for the period's estimated level of production. The company also estimated $579,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $3.00 per direct labor-hour. Harris's actual manufacturing overhead cost for the year was $720,347 and its actual total direct labor was 27,500 hours. Required: Compute the company's plantwide predetermined overhead rate for the year. (Round your answer to 2 decimal places.) Predetermined overhead rate per DLH
