The production manager of Rordan Corporation prepared the following quarterly production forecast for next year:Units to be produced1st Quarter 2nd Quarter 3rd Quarter 4th Quarter8,0006,5007,0007,500Each unit requires 0.35 direct labor-hour, and direct laborers are paid $15.00 per hour.Required:1. Prepare a direct labor budget for next year.Note: Round "Direct labor time per unit (hours)" answers to 2 decimal places.Direct labor time per unit (hours)Total direct labor-hours neededDirect labor cost per hourTotal direct labor costRordan CorporationDirect Labor Budget1st Quarter2nd Quarter3rd Quarter4th QuarterYear

Given: 1st Quarter2nd Quarter3rd Quarter4th QuarterUnits to be Produced8,0006,5007,0007,500Each…

Answered: The production manager of Rordan…

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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Whitmer Corporation is working on its direct labor budget for the next two months. Each unit of output requires 0.04 direct labor-hours. The direct labor rate is $9.10 per direct labor-hour. The production budget calls for producing 4,500 units In February and 5,000 units In March. Required: Prepare the direct labor budget for February and March, assuming that the direct labor work force is fully adjusted to the total direct labor-hours needed each month. (Round "labor-hours per unit" & "labor cost per hour" answers to 2 decimal places.) 12 Required production in units Direct labor-hours per unit Total direct labor-hours needed Direct labor cost per hour Total direct labor cost February March
please solve all requirements
Rasmussen Corporation expects to incur indirect overhead costs of $80,000 per month and direct manufacturing costs of $12 per unit. The expected production activity for the first four months of the year are as follows. January February March April Estimated production in units 6,000 7,000 3,000 4,000 Required Calculate a predetermined overhead rate based on the number of units of product expected to be made during the first four months of the year. Allocate overhead costs to each month using the overhead rate computed in Requirement a. Calculate the total cost per unit for each month using the overhead allocated in Requirement b.
The production department of Headstrong Company has submitted the following forecast of units to be produced by quarter for the upcoming fiscal year: 1st Quarter 2nd Quarter 3rd Quarter 4th G Quarter Units to be produced 7,000 8,000 6,000 5.000 In addition, the beginning raw materials inventory for the first quarter is budgeted to be 1,400 kilograms and the beginning accounts payable for the first quarter are budgeted to be $2,940. Each unit requires two kilograms of raw material that costs $1.40 per kilogram. Management desires to end each quarter with an inventory of raw materials equal to 10% of the following quarter's production needs. The desired ending inventory for the fourth quarter is 1, 500 kilograms. Management plans to pay for 80% of raw material purchases in the quarter acquired and 20% in the following quarter. Each unit requires 0.60 direct labour - hours, and direct labour - hour workers are paid $14 per hour. Required: 1. Prepare the company's direct materials budget…
The production manager of Rordan Corporation has submitted the following quarterly production forecast for the upcoming fiscal year: Units to be produced 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 9,000 7,000 7,500 8,400 Each unit requires 0.45 direct labor-hours, and direct laborers are paid $10.00 per hour. Required: 1. Prepare the company's direct labor budget for the upcoming fiscal year. (Round "Direct labor time per unit (hours)" answers to 2 decimal places.) Direct labor time per unit (hours) Total direct labor-hours needed Direct labor cost per hour Total direct labor cost 1st Quarter Rordan Corporation Direct Labor Budget 2nd Quarter 3rd Quarter 4th Quarter Year
In Ayayai Company, direct labor is $20 per hour. The company expects to operate at 12,400 direct labor hours each month. In January 2027, direct labor totaling $255,440 is incurred in working 12,896 hours. (a) Your answer is correct. Prepare a static budget report. Product Line Direct Labor CA $ Budget 248,000 +A $ AYAYAI COMPANY Static Direct Labor Budget Report For the Month Ended January 31, 2027 Actual 255,440 +A Difference 7,440 i Unfavorable
The production department of Zan Corporation has submitted the following forecast of units to be produced by quarter for the upcoming fiscal year: Units to be produced 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 16,000 19,000 18,000 17,000 In addition, 16,000 grams of raw materials inventory is on hand at the start of the 1st Quarter and the beginning accounts payable for the 1st Quarter is $7,000. Each unit requires 4 grams of raw material that costs $1.80 per gram. Management desires to end each quarter with an inventory of raw materials equal to 25% of the following quarter's production needs. The desired ending inventory for the 4th Quarter is 5,000 grams. Management plans to pay for 60% of raw material purchases in the quarter acquired and 40% in the following quarter. Each unit requires 0.40 direct labor-hours and direct laborers are paid $12.50 per hour. Required: 1. and 2. Calculate the estimated grams of raw material that need to be purchased and the cost of raw material…
Each unit requires direct labor of 1.5 hours. The labor rate is $10.83 per hour and next year’s direct labor budget totals $732,156. How many units are included in the production budget for next year? Round to the nearest penny, two decimal places.
Tucker Inc. is preparing its Manufacturing Overhead Budget for the Quarter based on the following production in units. April May June QuarterProduction in units 20,000 10,000 15,000 45,000Tucker Inc. uses a variable manufacturing overhead rate of $2.50 per unit produced Fixed manufacturing overhad is $40,000 per month and includes $20,000 of non-cash costs (depreciation of plant assets). The total Variable Manufacturing Overhead cost for the quarter is: The total Fixed Manufacturing Overhead cost for the quarter is: Thet total Manufacturing Overhead costs for the quarter is: The total Cash disbursements for manufacturing overhead for the quarter is
The production department of Headstrong Company has submitted the following forecast of units to be produced by quarter for the upcoming fiscal year: 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Units to be produced 8,100 9,100 7,100 6,100 In addition, the beginning raw materials inventory for the first quarter is budgeted to be 1,950 kilograms and the beginning accounts payable for the first quarter are budgeted to be $3,490. Each unit requires 3.1 kg of raw material that costs $2.50 per kilogram. Management desires to end each quarter with an inventory of raw materials equal to 10% of the following quarter’s production needs. The desired ending inventory for the fourth quarter is 2,325 kilograms. Management plans to pay for 80% of raw material purchases in the quarter acquired and 20% in the following quarter. Each unit requires 0.6 direct labour-hours, and direct labour-hour workers are paid $19.5 per hour. Required: 1-a. Prepare the company's direct…
Yuvwell Corporation's direct labor budget for next year contained the following information: 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 8,600 8,500 8,200 8,800 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 $2.75 per direct labor-hour and its total fixed manufacturing overhead is $54,000 per quarter. The only noncash item included in fixed manufacturing overhead is depreciation of $13,500 per quarter. Required: 1. Prepare the company's manufacturing overhead budget for next year. 2. Compute the company's predetermined overhead rate (including both variable and fixed manufacturing overhead) for next year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the company's manufacturing overhead budget for next year. Note: Round "Variable manufacturing overhead rate" answers to 2 decimal places. Variable manufacturing…

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