ACCOUTING PRIN SET LL INCLUSIVE
14th Edition
ISBN: 9781119815327
Author: Weygandt
Publisher: WILEY
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Chapter 24, Problem 6BE
To determine
Concept Introduction:
The manufacturing overhead budget shows expected manufacturing
To prepare: The manufacturing overhead budget by quarters and the year.
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For Rafael Inc. variable manufacturing overhead costs are expected to be $40,000 in the first quarter of 2020 with $4,000 increments in each of the remaining three quarters. Fixed overhead costs are estimated to be $35,000 in each quarter. Prepare the manufacturing overhead budget by quarters and in total for the year.
For Roche Inc., variable manufacturing overhead costs are expected to be $21,090 in the first quarter of 2020, with $4,420 increments in each of the remaining three quarters. Fixed overhead costs are estimated to be $35,500 in each quarter.Prepare the manufacturing overhead budget by quarters and in total for the year.
ROCHE INC.Manufacturing Overhead Budgetchoose the accounting period For the Year Ending December 31, 2020December 31, 2020For the Quarter Ending December 31, 2020
Quarter
1
2
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Year
select an item Direct LaborDirect MaterialsFixed CostsProduction UnitsSalesTotal Manufacturing OverheadVariable Costs
$enter a dollar amount
$enter a dollar amount
$enter a dollar amount
$enter a dollar amount
$enter a dollar amount
select an item Direct…
Concord Company is preparing its manufacturing overhead budget for 2025. Relevant data consist of the following.
Units to be produced (by quarters): 11,200, 13,440, 15,680, 17,920.
Direct labor: Time is 3.00 hours per unit.
Variable overhead costs per direct labor hour: indirect materials $1.60; indirect labor $2.40; and maintenance $1.00.
Fixed overhead costs per quarter: supervisory salaries $46,200; depreciation $16,800; and maintenance $13,440.
Prepare the manufacturing overhead budget for the year, showing quarterly data. (Round overhead rate to 2 decimal place:
1.25. List variable expenses before fixed expense.)
A
$
1
LA
CONCORD COMPANY
Manufacturing Overhead Budget
2
Quarter
LA
3
Chapter 24 Solutions
ACCOUTING PRIN SET LL INCLUSIVE
Ch. 24 - Prob. 1QCh. 24 - Prob. 2QCh. 24 - Prob. 3QCh. 24 - Prob. 4QCh. 24 - Prob. 5QCh. 24 - Prob. 6QCh. 24 - Prob. 7QCh. 24 - 8. What is budgetary slack? What incentive do...Ch. 24 - Prob. 9QCh. 24 - 10. What budget is the starting point in preparing...
Ch. 24 - Prob. 11QCh. 24 - Prob. 12QCh. 24 - Prob. 13QCh. 24 - Prob. 14QCh. 24 - Prob. 15QCh. 24 - 16. Everly Company’s variable selling and...Ch. 24 - Prob. 17QCh. 24 - Prob. 18QCh. 24 - 19. Identify the three sections of a cash budget....Ch. 24 - Prob. 20QCh. 24 - Prob. 21QCh. 24 - Prob. 22QCh. 24 - Prob. 1BECh. 24 - Prob. 3BECh. 24 - Prob. 4BECh. 24 - Prob. 6BECh. 24 - Prob. 9BECh. 24 - Prob. 10BECh. 24 - DO IT! 23-1 Use this list of terms to complete the...Ch. 24 - DO IT! 23-4 Batista Company management wants to...Ch. 24 - Prob. 1ECh. 24 - E23-2 Edington Electronics Inc. produces and sells...Ch. 24 - Prob. 18ECh. 24 - Prob. 1EYCTCh. 24 - Prob. 2EYCTCh. 24 - Prob. 4EYCT
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- Each unit requires direct labor of 4.1 hours. The labor rate is $13.75 per hour and next years production is estimated at 75,000 units. What is the amount to be included in next years direct labor budget?arrow_forwardAdam Corporation manufactures computer tables and has the following budgeted indirect manufacturing cost information for the next year: If Adam uses the step-down (sequential) method, beginning with the Maintenance Department, to allocate support department costs to production departments, the total overhead (rounded to the nearest dollar) for the Machining Department to allocate to its products would be: a. 407,500. b. 422,750. c. 442,053. d. 445,000.arrow_forwardOne Device makes universal remote controls and expects to sell 500 units in January, 800 in February, 450 in March, 550 in April, and 600 in May. The required ending inventory is 20% of the next months sales. Prepare a production budget for the first four months of the year.arrow_forward
- If the sales forecast estimates that 50,000 units of product will be sold during the following year, should the factory plan on manufacturing 50,000 units in the coming year? Explain.arrow_forwardThe sales department of Macro Manufacturing Co. has forecast sales for its single product to be 20,000 units for June, with three-quarters of the sales expected in the East region and one-fourth in the West region. The budgeted selling price is 25 per unit. The desired ending inventory on June 30 is 2,000 units, and the expected beginning inventory on June 1 is 3,000 units. Prepare the following: a. A sales budget for June. b. A production budget for June.arrow_forwardSunrise Poles manufactures hiking poles and is planning on producing 4,000 units in March and 3,700 in April. Each pole requires a half pound of material, which costs $1.20 per pound. The companys policy is to have enough material on hand to equal 10% of the next months production needs and to maintain a finished goods inventory equal to 25% of the next months production needs. What is the budgeted cost of purchases for March?arrow_forward
- Nozama.com Inc. sells consumer electronics over the Internet. For the next period, the budgeted cost of the sales order processing activity is 250,000 and 50,000 sales orders are estimated to be processed. a. Determine the activity rate of the sales order processing activity. b. Determine the amount of sales order processing cost associated with 30,000 sales orders.arrow_forwardThe Sales Department of Minimus Inc. has forecast sales for May 2016 to be 40,000 units. Additional information follows: Materials used in production: Direct labor hours required in production: Prepare the following: a. A production budget for May. b. A direct materials budget for May. c. A direct labor budget for May.arrow_forwardA company estimates its manufacturing overhead will be $840,000 for the next year. What is the predetermined overhead rate given each of the following Independent allocation bases? Budgeted direct labor hours: 90,615 Budgeted direct labor expense: $750000 Estimated machine hours: 150,000arrow_forward
- Nashler Company has the following budgeted variable costs per unit produced: Budgeted fixed overhead costs per month include supervision of 98,000, depreciation of 76,000, and other overhead of 245,000. Required: 1. Prepare a flexible budget for all costs of production for the following levels of production: 160,000 units, 170,000 units, and 175,000 units. 2. What is the per-unit total product cost for each of the production levels from Requirement 1? (Round each unit cost to the nearest cent.) 3. What if Nashler Companys cost of maintenance rose to 0.22 per unit? How would that affect the unit product costs calculated in Requirement 2?arrow_forwardCloud Shoes manufactures recovery sandals and is planning on producing 12.000 units in March and 11,500 in April. Each sandal requires 1.2 yards if material, which costs $3.00 per yard. The companys policy is to have enough material on hand to equal 15% of next months production needs and to maintain a finished goods inventory equal to 20% of the next months production needs. What is the budgeted cost of purchases for March?arrow_forwardConcord Company is preparing its manufacturing overhead budget for 2025. Relevant data consist of the following. Units to be produced (by quarters): 11,200, 13,440, 15,680, 17,920. Direct labor: Time is 3.00 hours per unit. Variable overhead costs per direct labor hour: indirect materials $1.60; indirect labor $2.40; and maintenance $1.00. Fixed overhead costs per quarter: supervisory salaries $46, 200; depreciation $16,800; and maintenance $13,440. Prepare the manufacturing overhead budget for the year, showing quarterly data. (Round overhead rate to 2 decimal place 1.25. List variable expenses before fixed expense.) CONCORD COMPANY Manufacturing Overhead Budget Quarter 123 Concord Company is preparing its manufacturing overhead budget for 2025. Relevant data consist of the following. Units to be produced (by quarters): 11,200, 13,440, 15,680, 17,920. Direct labor: Time is 3.00 hours per unit. Variable overhead costs per direct labor hour: indirect materials $1.60; indirect labor…arrow_forward
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