Units to be produced Direct labor time per unit (hours) Total direct labor hours needed Direct labor cost per hour Total direct labor cost Total direct labor hours needed Regular hours paid Overtime hours paid Wages for regular hours Overtime wages Total direct labor cost Junnen Corporation Direct Labor Budget $ 1st Quarter 2. Complete the company's direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is not adjusted each quarter. Instead, assume that the company's direct labor workforce consists of permanent employees who are guaranteed to be paid for at least 1,980 hours of work each quarter. If the number of required direct labor-hours is less than this number, the workers are paid for 1,980 hours anyway. Any hours worked in excess of 1,980 hours in a quarter are paid at the rate of 1.5 times the normal hourly rate for direct labor. (Do not round intermediate calculations.) Junnen Corporation Direct Labor Budget 1st Quarter 2nd 3rd Quarter Quarter 0 0 $ 2nd Quarter 0 0$ 3rd Quarter 0 4th Quarter 0 $ 4th Quarter 0 Year 0$ Year 0 0

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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The production manager of Junnen Corporation has submitted the following forecast of units to be
produced for each quarter of the upcoming fiscal year.
Units to be produced
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
5,400
4,150
4,350
5,200
Each unit requires 0.40 direct labor-hours and direct labor-hour workers are paid $13 per hour.
Required:
1. Complete the company's direct labor budget for the upcoming fiscal year, assuming that the direct
labor workforce is adjusted each quarter to match the number of hours required to produce the
forecasted number of units produced. (Round "DL hours per unit" answers to 2 decimal places.)
Units to be produced
Direct labor time per unit
(hours)
Total direct labor hours needed
Direct labor cost per hour
Total direct labor cost
Total direct labor hours needed
Regular hours paid
Overtime hours paid
Wages for regular hours
Overtime wages
Total direct labor cost
Junnen Corporation
Direct Labor Budget
2nd
1st
Quarter
$
2. Complete the company's direct labor budget for the upcoming fiscal year, assuming that the direct
labor workforce is not adjusted each quarter. Instead, assume that the company's direct labor
workforce consists of permanent employees who are guaranteed to be paid for at least 1,980 hours
of work each quarter. If the number of required direct labor-hours is less than this number, the
workers are paid for 1,980 hours anyway. Any hours worked in excess of 1,980 hours in a quarter
are paid at the rate of 1.5 times the normal hourly rate for direct labor. (Do not round intermediate
calculations.)
Junnen Corporation
Direct Labor Budget
1st
Quarter
3rd
4th
Quarter Quarter Quarter
0
0 $
2nd
Quarter
0
0 $
3rd
Quarter
0
0 $
4th
Quarter
0
Year
0 $
Year
0
0
Transcribed Image Text:The production manager of Junnen Corporation has submitted the following forecast of units to be produced for each quarter of the upcoming fiscal year. Units to be produced 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 5,400 4,150 4,350 5,200 Each unit requires 0.40 direct labor-hours and direct labor-hour workers are paid $13 per hour. Required: 1. Complete the company's direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced. (Round "DL hours per unit" answers to 2 decimal places.) Units to be produced Direct labor time per unit (hours) Total direct labor hours needed Direct labor cost per hour Total direct labor cost Total direct labor hours needed Regular hours paid Overtime hours paid Wages for regular hours Overtime wages Total direct labor cost Junnen Corporation Direct Labor Budget 2nd 1st Quarter $ 2. Complete the company's direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is not adjusted each quarter. Instead, assume that the company's direct labor workforce consists of permanent employees who are guaranteed to be paid for at least 1,980 hours of work each quarter. If the number of required direct labor-hours is less than this number, the workers are paid for 1,980 hours anyway. Any hours worked in excess of 1,980 hours in a quarter are paid at the rate of 1.5 times the normal hourly rate for direct labor. (Do not round intermediate calculations.) Junnen Corporation Direct Labor Budget 1st Quarter 3rd 4th Quarter Quarter Quarter 0 0 $ 2nd Quarter 0 0 $ 3rd Quarter 0 0 $ 4th Quarter 0 Year 0 $ Year 0 0
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