Yuvwell Corporation's direct labor budget for next year contained the following Information: Budgeted direct labor-hours 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 8,000 8,200 8,500 7,800 The company uses direct labor-hours as its overhead allocation base. The variable portion of its predetermined manufacturing overhead rate is $3.25 per direct labor-hour and its total fixed manufacturing overhead is $48,000 per quarter. The only noncash Item Included in fixed manufacturing overhead is depreciation of $16,000 per quarter. Required: 1. Prepare the company's manufacturing overhead budget for next year. 2. Compute the company's predetermined overhead rate (including both variable and fixed manufacturing overhead) for next year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the company's manufacturing overhead budget for next year. Note: Round "Variable manufacturing overhead rate" answers to 2 decimal places. Yuvwell Corporation Manufacturing Overhead Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Variable manufacturing overhead rate $ 3.25 $ Variable manufacturing overhead $ 26,000 $ 3.25 $ 26,650 $ Fixed manufacturing overhead 48,000 Total manufacturing overhead 74,000 48,000 74,650 3.25 $ 27,625 $ 48,000 75,625 3.25 25,350 $ 105,625 48,000 73,350 192,000 297,625 Cash disbursements for manufacturing overhead $ 58,000 $ 58,850 $ 59,625 $ 57,350 $233,625 < Required 1 Required 2 >
Yuvwell Corporation's direct labor budget for next year contained the following Information: Budgeted direct labor-hours 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 8,000 8,200 8,500 7,800 The company uses direct labor-hours as its overhead allocation base. The variable portion of its predetermined manufacturing overhead rate is $3.25 per direct labor-hour and its total fixed manufacturing overhead is $48,000 per quarter. The only noncash Item Included in fixed manufacturing overhead is depreciation of $16,000 per quarter. Required: 1. Prepare the company's manufacturing overhead budget for next year. 2. Compute the company's predetermined overhead rate (including both variable and fixed manufacturing overhead) for next year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the company's manufacturing overhead budget for next year. Note: Round "Variable manufacturing overhead rate" answers to 2 decimal places. Yuvwell Corporation Manufacturing Overhead Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Variable manufacturing overhead rate $ 3.25 $ Variable manufacturing overhead $ 26,000 $ 3.25 $ 26,650 $ Fixed manufacturing overhead 48,000 Total manufacturing overhead 74,000 48,000 74,650 3.25 $ 27,625 $ 48,000 75,625 3.25 25,350 $ 105,625 48,000 73,350 192,000 297,625 Cash disbursements for manufacturing overhead $ 58,000 $ 58,850 $ 59,625 $ 57,350 $233,625 < Required 1 Required 2 >
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:Yuvwell Corporation's direct labor budget for next year contained the following Information:
Budgeted direct labor-hours
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
8,000
8,200
8,500
7,800
The company uses direct labor-hours as its overhead allocation base. The variable portion of its predetermined manufacturing
overhead rate is $3.25 per direct labor-hour and its total fixed manufacturing overhead is $48,000 per quarter. The only noncash Item
Included in fixed manufacturing overhead is depreciation of $16,000 per quarter.
Required:
1. Prepare the company's manufacturing overhead budget for next year.
2. Compute the company's predetermined overhead rate (including both variable and fixed manufacturing overhead) for next year.
Complete this question by entering your answers in the tabs below.
Required 1
Required 2
Prepare the company's manufacturing overhead budget for next year.
Note: Round "Variable manufacturing overhead rate" answers to 2 decimal places.
Yuvwell Corporation
Manufacturing Overhead Budget
1st Quarter
2nd Quarter
3rd Quarter
4th Quarter
Year
Variable manufacturing overhead rate
$
3.25 $
Variable manufacturing overhead
$
26,000
$
3.25 $
26,650 $
Fixed manufacturing overhead
48,000
Total manufacturing overhead
74,000
48,000
74,650
3.25 $
27,625 $
48,000
75,625
3.25
25,350 $ 105,625
48,000
73,350
192,000
297,625
Cash disbursements for manufacturing overhead
$
58,000 $
58,850 $
59,625 $
57,350 $233,625
< Required 1
Required 2 >
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