Wiki Wiki Company has determined that the variable overhead rate is $4.50 per direct labor hour in the Fabrication Department. The normal production capacity for the Fabrication Department is 10,000 hours for the month. Fixed costs are budgeted at $60,000 for the month. a. Prepare a monthly factory overhead flexible budget for 9,000, 10,000, and 11,000 hours of production. Enter all amounts as positive numbers. Wiki Wiki Company Monthly Factory Overhead Cost Budget-Fabrication Department Direct labor hours 9,000 10,000 11,000 Variable factory overhead cost Fixed factory overhead cost Total factory overhead cost $4 b. How much overhead would be applied to production if 9,000 hours were used in the department during the month? If required, round your calculations to two decimal places and your final answer to the nearest dollar.

Wiki Wiki Company has determined that the variable overhead rate is $4.50 per direct labor hour in the Fabrication Department. The normal production capacity for the Fabrication Department is 10,000 hours for the month. Fixed costs are budgeted at $60,000 for the month. a. Prepare a monthly factory overhead flexible budget for 9,000, 10,000, and 11,000 hours of production. Enter all amounts as positive numbers. Wiki Wiki Company Monthly Factory Overhead Cost Budget-Fabrication Department Direct labor hours 9,000 10,000 11,000 Variable factory overhead cost Fixed factory overhead cost Total factory overhead cost $4 b. How much overhead would be applied to production if 9,000 hours were used in the department during the month? If required, round your calculations to two decimal places and your final answer to the nearest dollar.

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

Please do not give solution in image format thanku
MCO Leather manufactures leather purses. Each purse requires 2 pounds of direct materials at a cost of $3 per pound and 0.7 direct labor hour at a rate of $17 per hour. Variable overhead is budgeted at a rate of $3 per direct labor hour. Budgeted fixed overhead is $14,000 per month. The company’s policy is to end each month with direct materials inventory equal to 30% of the next month’s direct materials requirement. At the end of August the company had 2,880 pounds of direct materials in inventory. The company’s production budget reports the following. Production Budget September October November Units to produce 4,800 6,800 6,400 (1) Prepare direct materials budgets for September and October.(2) Prepare direct labor budgets for September and October.(3) Prepare factory overhead budgets for September and October.
answer in text form please (without image)
Packaging Solutions Corporation manufactures and sells a wide variety of packaging products. Performance reports are prepared monthly for each department. The planning budget and flexible budget for the Production Department are based on the following formulas, where q is the number of labor-hours worked in a month: Cost Formulas Direct labor $16.40q Indirect labor $4,000 + $1.40q Utilities $5,300 + $0.30q Supplies $1,600 + $0.10q Equipment depreciation $18,500 + $3.00q Factory rent $8,200 Property taxes $2,500 Factory administration $13,600 + $0.60q The Production Department planned to work 4,400 labor-hours in March; however, it actually worked 4,200 labor-hours during the month. Its actual costs incurred in March are listed below: Actual Cost Incurred in March Direct labor $ 70,480 Indirect labor $ 9,340 Utilities $ 7,010 Supplies $ 2,250 Equipment depreciation $ 31,100 Factory rent $ 8,600 Property taxes $ 2,500 Factory…
Are the answers correct?
Please help me with show all calculation thanku
Please do not give solution in image format
In Paige Company, direct labor is $20 per hour. The company expects to operateat 10,000 direct labor hours each month. In January 2014, direct labor totaling $204,000is incurred in working 10,400 hours. Prepare (a) a static budget report and (b) a fl exiblebudget report. Evaluate the usefulness of each report.
Gloves and mittens are two related goods made by Kettle Factory. The overall manufacturing overhead budget is $1,050,000, with 600,000 direct labor hours expected. Glove manufacture is expected to take 375,000 direct labor hours, while mitten production will take 225,000 direct labor hours. Round your answers to two decimal places, if necessary. a. Determine the single plantwide factory overhead rate based on direct labor hours.$fill in the blank 1 per direct labor hour b. How much is the factory overhead cost per pair of gloves if each pair requires 2 hours to produce?$fill in the blank 2 c. How much is the factory overhead cost per pair of mittens if each pair takes 1.5 hours to produce?$fill in the blank 3 d. How much total factory overhead will be allocated to glove production if 187,500 pairs are budgeted and 190,000 pairs are actually produced during the period? Use your answer from (b) above.$fill in the blank 4 e. How much total factory overhead will be allocated to mitten…
Packaging Solutions Corporation manufactures and sells a wide variety of packaging products. Performance reports are prepared monthly for each department. The planning budget and flexible budget for the Production Department are based on the following formulas, where q is the number of labor-hours worked in a month: Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Cost Formulas $16.30g $4,300 +$1.50q $5,300 + $0.40g $1,400 + $0.30q $18,200+ $2.70q $8,400 $2,600 $13,800 + $0.60q The Production Department planned to work 4,200 labor-hours in March; however, it actually worked 4,000 labor-hours during the month. Its actual costs incurred in March are listed below: Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration Required: Actual Cost Incurred in March $ 66,780 $ 9,780 $ 7,370 2,870 $ 29,000 $ 8,800 $ 2,600 $ 15,550 1. Prepare the Production…
Packaging Solutions Corporation manufactures and sells a wide variety of packaging products. Performance reports are prepared monthly for each department. The planning budget and flexible budget for the Production Department are based on the following formulas, where q is the number of labor-hours worked in a month: Direct labor Indirect labor Utilities Supplies Equipment depreciation. Factory rent Property taxes Factory administration Cost Formulas $16.10q $4,600+ $1.70q $5,000+ $0.509 $1,700+ $0.30q $18,700+ $2.80q $8,300 Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration $3,000 $13,400+ $0.60q The Production Department planned to work 4,100 labor-hours in March; however, it actually worked 3,900 labor-hours during the month. Its actual costs incurred in March are listed below: Actual Cost Incurred in March $ 64,330 $ 10,750 $ 7,440 $ 3,140 $ 29,620 $ 8,700 $3,000 $ 15,090 Required: 1. Prepare the Production…
Packaging Solutions Corporation manufactures and sells a wide variety of packaging products. Performance reports are prepared monthly for each department. The planning budget and flexible budget for the Production Department are based on the following formulas, where q is the number of labor-hours worked in a month: Direct labor Indirect labor Utilities Supplies Equipment depreciation Factory rent Property taxes Factory administration. Cost Formulas $16.10q $4,100 +$1.60q $5,400 + $0.40q $1,400 +$0.10q $18,600 + $2.50q $8,100 $2,700 $13,600 +$0.90q The Production Department planned to work 4,400 labor-hours in March; however, it actually worked 4,200 labor-hours during the month. Its actual costs incurred in March are listed below: Direct labor Actual Cost Incurred in March $ 69,160 $ 10,320 $ 7,550 Indirect labor Utilities Supplies Factory rent $ 2,050 Equipment depreciation $ 29,100 $ 8,500 $ 2,700 $ 16,790 Property taxes Factory administration Required: 1. Prepare the Production…