Wyckam Manufacturing Inc. has provided the following estimates concerning its manufacturing costs: Fixed Cost Cost per Machine-Hour per Month $ 5.50 Direct materials Direct labor $ 42,600 $ 8.10 Supplies Utilities $ 1,200 $ 14,900 $ 11,800 $0.25 Depreciation Insurance For example, utilities should be $1,200 per month plus $0.25 per machine-hour. The company expects to work 4,500 machine- hours in June. Note that the company's direct labor is a fixed cost. Required: Prepare the company's planning budget for June.
Wyckam Manufacturing Inc. has provided the following estimates concerning its manufacturing costs: Fixed Cost Cost per Machine-Hour per Month $ 5.50 Direct materials Direct labor $ 42,600 $ 8.10 Supplies Utilities $ 1,200 $ 14,900 $ 11,800 $0.25 Depreciation Insurance For example, utilities should be $1,200 per month plus $0.25 per machine-hour. The company expects to work 4,500 machine- hours in June. Note that the company's direct labor is a fixed cost. Required: Prepare the company's planning budget for June.
Chapter1: Financial Statements And Business Decisions
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Standard Costing
The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.
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![Wyckam Manufacturing Inc. has provided the following estimates concerning its manufacturing costs:
Cost per
Machine-Hour
Fixed Cost
per Month
Direct materials
$ 5.50
$ 42,600
Direct labor
Supplies
Utilities
$0.10
$ 1,200
$ 14,900
$ 11,800
$0.25
Depreciation
Insurance
For example, utilițies should be $1,200 per month plus $0.25 per machine-hour. The company expects to work 4,500 machine-
hours in June. Note that the company's direct labor is a fixed cost.
ces
Required:
Prepare the company's planning budget for June.
Wyckam Manufacturing Inc.
Planning Budget for Manufacturing Costs
For the Month Ended June 30
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行](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1ee194fd-3a41-4ec4-a386-affdd553f4eb%2Fa781824f-6e5b-4c0e-b147-e56006abe20e%2F8w8sbn5_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Wyckam Manufacturing Inc. has provided the following estimates concerning its manufacturing costs:
Cost per
Machine-Hour
Fixed Cost
per Month
Direct materials
$ 5.50
$ 42,600
Direct labor
Supplies
Utilities
$0.10
$ 1,200
$ 14,900
$ 11,800
$0.25
Depreciation
Insurance
For example, utilițies should be $1,200 per month plus $0.25 per machine-hour. The company expects to work 4,500 machine-
hours in June. Note that the company's direct labor is a fixed cost.
ces
Required:
Prepare the company's planning budget for June.
Wyckam Manufacturing Inc.
Planning Budget for Manufacturing Costs
For the Month Ended June 30
< Prev
6 of 10
...
...
...
Next >
o search
行
![Required:
Prepare the company's planning budget for June.
Planning Budget for Manufacturing Costs
For the Month Ended June 30
Direct materials
Direct labor
Supplies
es
Utilities
Depreciation
Insurance
Total manufacturing cost
< Prev
6 of 10
Next >
...
ch
近](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1ee194fd-3a41-4ec4-a386-affdd553f4eb%2Fa781824f-6e5b-4c0e-b147-e56006abe20e%2Fgh63hzr_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required:
Prepare the company's planning budget for June.
Planning Budget for Manufacturing Costs
For the Month Ended June 30
Direct materials
Direct labor
Supplies
es
Utilities
Depreciation
Insurance
Total manufacturing cost
< Prev
6 of 10
Next >
...
ch
近
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