Yosko Company expects to produce 2,070 units in January that will require 4,140 hours of direct labor and 2,230 units in February that will require 4,460 hours of direct labor. Yosko Company budgets $6 per unit for variable manufacturing overhead; $2,100 per month for depreciation; and $10,800 per month for other fixed manufacturing overhead costs. Prepare Yosko Company's manufacturing overhead budget for January and February, including the predetermined overhead allocation rate using direct labor hours as the allocation base. (Abbreviations used: VOH = variable manufacturing overhead; FOH = fixed manufacturing overhead.) VOH cost per unit Yosko Company Manufacturing Overhead Budget Two Month Ended January 31 and February 28 Budgeted VOH Budgeted FOH Depreciation Other FOH costs Total budgeted FOH Budgeted manufacturing overhead costs Direct labor hours Budgeted manufacturing overhead costs Predetermined overhead allocation rate January February Total

Yosko Company expects to produce 2,070 units in January that will require 4,140 hours of direct labor and 2,230 units in February that will require 4,460 hours of direct labor. Yosko Company budgets $6 per unit for variable manufacturing overhead; $2,100 per month for depreciation; and $10,800 per month for other fixed manufacturing overhead costs. Prepare Yosko Company's manufacturing overhead budget for January and February, including the predetermined overhead allocation rate using direct labor hours as the allocation base. (Abbreviations used: VOH = variable manufacturing overhead; FOH = fixed manufacturing overhead.) VOH cost per unit Yosko Company Manufacturing Overhead Budget Two Month Ended January 31 and February 28 Budgeted VOH Budgeted FOH Depreciation Other FOH costs Total budgeted FOH Budgeted manufacturing overhead costs Direct labor hours Budgeted manufacturing overhead costs Predetermined overhead allocation rate January February Total

Name: Yosko Company expects to produce 2,070 units in January that will req
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: Yosko Company expects to produce 2,070 units in January that will require 4,140 hours of direct labor and 2,230 units in February that will require 4,460 hours of direct labor. Yosko Companybudgets $6 per unit for variable manufacturing overhead; $2

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

rever Ready Company expects to operate at 85% of productive capacity during May. The total manufacturing costs for May for the production of 3,900 batteries are budgeted as follows: Direct materials Direct labor Variable factory overhead Fixed factory overhead Total manufacturing costs The company has an opportunity to submit a bid for 2,000 batteries to be delivered by May 31 to a government agency. If the contract is obtained, it is anticipated that the additional activity will not interfere with normal production during May or increase the selling or administrative expenses. $324,300 119,200 33,350 67,000 $543,850 What is the unit cost below which Forever Ready Company should not go in bidding on the government contract? Round your answer to two decimal places. per unit
Tiger Equipment Inc., a manufacturer of construction equipment, prepared the following factory overhead cost budget for the Welding Department for May of the current year. The company expected to operate the department at 100% of normal capacity of 7,700 hours. Variable costs: Indirect factory wages $22,330 Power and light 15,862 Indirect materials 13,552 Total variable cost $51,744 Fixed costs: Supervisory salaries $14,700 Depreciation of plant and equipment 37,710 Insurance and property taxes 11,500 Total fixed cost 63,910 Total factory overhead cost $115,654 During May, the department operated at 8,200 standard hours. The factory overhead costs incurred were indirect factory wages, $24,020; power and light, $16,590; indirect materials, $14,700; supervisory salaries, $14,700; depreciation of plant and equipment, $37,710; and insurance and property taxes, $11,500. Required: Prepare a factory overhead cost…
Flounder Company estimates that it will produce 6,000 units of product IOA during the current month. Budgeted variable manufacturing costs per unit are direct materials $8, direct labor $13, and overhead $19. Monthly budgeted fixed manufacturing overhead costs are $7,700 for depreciation and $3,700 for supervision. In the current month, Flounder actually produced 6,500 units and incurred the following costs: direct materials $44,976, direct labor $76,400, variable overhead $122,094, depreciation $7,700, and supervision $3,959. Prepare a static budget report. Hint: The Budget column is based on estimated production while the Actual column is the actual cost incurred during the period. (List variable costs before fixed costs.) FLOUNDER COMPANY Static Budget Report ÷ Budget Actual $ +A Difference Favorable Unfavorabl
Tiger Equipment Inc., a manufacturer of construction equipment, prepared the following factory overhead cost budget for the Welding Department for May of the current year. The company expected to operate the department at 100% of normal capacity of 6,200 hours. Variable costs: Indirect factory wages $20,460 Power and light 13,826 Indirect materials 11,346 Total variable cost $45,632 Fixed costs: Supervisory salaries $10,410 Depreciation of plant and equipment 26,700 Insurance and property taxes 8,150 Total fixed cost 45,260 Total factory overhead cost $90,892 During May, the department operated at 6,600 standard hours. The factory overhead costs incurred were indirect factory wages, $22,000; power and light, $14,450; indirect materials, $12,300; supervisory salaries, $10,410; depreciation of plant and equipment, $26,700; and insurance and property taxes, $8,150. Required: Prepare a factory overhead cost…
Depasquale Corporation is working on its direct labor budget for the next two months. Each unit of output requires 0.51 direct labor-hours. The direct labor rate is $8.80 per direct labor-hour. The production budget calls for producing 5,700 units in May and 6,100 units in June. If the direct labor work force is fully adjusted to the total direct labor-hours needed each month, what would be the total combined direct labor cost for the two months? Multiple Choice O $26,479.20 $25,581.60 $27,376.80 O $52,958.40
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…
Harrison, Inc. is preparing their budget for the upcoming year and requires a breakdown of the costs of power used in its factory into the fixed and variable components. They have determined the number of direct labor hours worked affects the cost of power. The following data on the cost of power used and direct labor hours worked are available for the last six months of this year: Month July August September October High-Low Method November December Total Cost of Power $ 14,850 15,400 16,370 19,800 17,600 18,500 $102.520 Direct Labor Hours 3,000 2,050 2,900 3,650 2,670 2,650 16.920 1. Assuming that Harrison uses the high-low method of analysis, calculate the cost function to be used to estimate the power costs. 2. They have determined that production needs will require 8,467 direct labor hours. Using the cost function calculated above, what is the estimated cost of power?
Zira Company reports the following production budget for the next four months. Each finished unit requires four pounds of direct materials, and the company wants to end each month with direct materials inventory equal to 30% of next month's production needs. Beginning direct materials inventory for April was 847 pounds. Direct materials cost $5 per pound. Prepare a direct materials budget for April, May, and June. (Round your answers to the nearest whole number.) Units to produce April May June 706 760 738 Units to produce Materials required per unit Materials needed for production (pounds) Add: Desired ending materials inventory (pounds) Total materials required (pounds) Less: Beginning materials inventory (pounds) Materials to purchase (pounds) Materials cost per pound Cost of direct materials purchases July 718 ZIRA COMPANY Direct Materials Budget April $ $ 706 4 2,824 2,824 ↑ 5 $ 0 $ May 760 4 3,040 Saved 3,040 June 5 $ 0 $ 738 units 4 pounds 2,952 pounds 2,952 pounds 5 per pound 0…
Tannin Products Inc. prepared the following factory overhead cost budget for the Trim Department for July of the current year, during which it expected to use 12,000 hours for production: Variable overhead cost: Indirect factory labor $31,200 Power and light 9,120 Indirect materials 20,400 Total variable overhead cost $ 60,720 Fixed overhead cost: Supervisory salaries $45,600 Depreciation of plant and equipment 12,000 Insurance and property taxes 22,400 Total fixed overhead cost 80,000 Total factory overhead cost $140,720 Tannin has available 16,000 hours of monthly productive capacity in the Trim Department under normal business conditions. During July, the Trim Department actually used 11,000 hours for production. The actual fixed costs were as budgeted. The actual variable overhead for July was as follows: Actual variable factory overhead cost: Indirect factory labor $27,890 Power and…
Ramos Company provides the following (partial) production budget for the next three months. Each finished unit requires 0.50 hour of direct labor at the rate of $16 per hour. The company budgets variable overhead at the rate of $20 per direct labor hour and budgets fixed overhead of $8,000 per month. Production Budget Units to produce Required 1 Required 2 1. Prepare a direct labor budget for April, May, and June. 2. Prepare a factory overhead budget for April, May, and June. April 442 Complete this question by entering your answers in the tabs below. Units to produce May 570 Direct labor hours needed June 544 Prepare a direct labor budget for April, May, and June. (Enter your direct labor hours (hours) per unit in two decimal places.) Cost of direct labor RAMOS COMPANY Direct Labor Budget April 544 units
The total factory overhead for Landen Company is budgeted for the year at $675,000. Landen manufactures two drapery products: sheer curtains and insulated curtains. These products each require 6 direct labor hours (dlh) to manufacture. Each product is budgeted for 7,500 units of production for the year. What would the factory overhead allocated per unit for insulated curtains using the single plantwide factory overhead rate be? a.$15.00 b.$270.00 c.$45.00 d.$90.00
Pouch Corporation is working on its direct labor budget for the next two months. Each unit of output requires 0.90 direct labor-hours. The direct labor rate is $9.90 per direct labor-hour. The production budget calls for producing 2,600 units in June and 2,400 units in July. If the direct labor work force is fully adjusted to the total direct labor-hours needed each month, what would be the total combined direct labor cost for the two months? $44,550.00 $22,275.00 $21,384.00 $23,166.00