(a) Prepare the flexed budget to show the budgeted profit for the month of July. Y Limited produces one product.Budgeted units produced and sold for the month of July were 1000.Further budgeted information for July was also available.$Sales250 000Direct material ($12 per kilo)(60 000)(100 000)Direct labour ($25 per labour hour)Fixed overhead(24 000)Budgeted profit66 000Fixed overhead is to be absorbed on the basis of direct labour hours.The actual units produced and sold for July were 1120.

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Description: (a) Prepare the flexed budget to show the budgeted profit for the month of July. Y Limited produces one product.Budgeted units produced and sold for the month of July were 1000.Further budgeted information for July was also available.$Sales250 000Di

1.BUDGETED SALE= $250000/1000 * 1120= $280000 2. DIRECT MATERIAL (IN KG)= $60000/$12=5000 KG 3.…

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Y Limited produces one product. Budgeted units produced and sold for the month of July were 1000. Further budgeted information for July was also available. $ 250000 Sales Direct material ($12 per kilo) Direct labour ($25 per labour hour) Fixed overhead Budgeted profit (60 000) (100 000) (24 000) 66 000 Fixed overhead is to be absorbed on the basis of direct labour hours. The actual units produced and sold for July were 1120.

Y Limited produces one product. Budgeted units produced and sold for the month of July were 1000. Further budgeted information for July was also available. $ 250000 Sales Direct material ($12 per kilo) Direct labour ($25 per labour hour) Fixed overhead Budgeted profit (60 000) (100 000) (24 000) 66 000 Fixed overhead is to be absorbed on the basis of direct labour hours. The actual units produced and sold for July were 1120.

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter8: Standard Cost Accounting—materials, Labor, And Factory Overhead

Section: Chapter Questions

Problem 9P: USD Inc. has established the following standard cost per unit: Although 10,000 units were budgeted,...

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