Question

At the beginning of the year, Smith, INc., budgeted the following: Units: 10,000 Sales: $100,000 Total...

At the beginning of the year, Smith, INc., budgeted the following:

Units: 10,000
Sales: $100,000
Total variable expenses: $ 60,000
Total fixed expenses: $ 20,000
Variable factory overhead $ 30,000
Fixed factory overhead: $ 10,000

There were no beginning inventories. At the end of the year, no work was in process, total factory overhead incurred was $39,500, and underapplied factory overhead was $1,500. Factory overhead was applied on the basis of budgeted unit production. How many units were produced this year?

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
At the beginning of the year, Long, Inc. estimates factory overhead to be $50,000 based on...
At the beginning of the year, Long, Inc. estimates factory overhead to be $50,000 based on 40,000 units. Long believes there is $1 variable overhead per unit produced and $10,000 fixed costs. At the end of the year, 62,000 units were produced at a cost of $80,000. What amount would a flexible budget estimate for total factory overhead at a production level of 62,000 units? What portion of the $30,000 variance is due to activity? What portion of the $30,000...
PCL (Pty) Ltd gave you the following expenses that were budgeted to produce 10,000 units in...
PCL (Pty) Ltd gave you the following expenses that were budgeted to produce 10,000 units in their factory as shown below:                                                                                                 Pula Materials                                                                                   70 Labour                                                                                       25 Variable factory overheads                                                       20 Fixed factory overhead (P100,000)                                         10 Direct Variable expenses                                                           5 Selling expenses (10% were fixed costs)                                13 Distribution expenses (20% were fixed)                                   7 Fixed Administrative expenses (P50,000)                                 5 Total cost of sale per unit                                                       155 Required: Prepare a flexible budget for the production...
Production in units 100,000 Sales in units ? Ending finished goods Inventory in units ? Sales...
Production in units 100,000 Sales in units ? Ending finished goods Inventory in units ? Sales in Rupees Rs 2,000,000 Costs : Other selling and administrative expenses Rs 40,000 Other factory overhead costs Rs 22,000 Selling and administrative salaries Rs 240,000 Maintenance Factory Rs 50,000 Utilities factory Rs 60,000 Building Rent (Production Uses 80% of the Space; administrative and sales offices use the rest) Rs 100,000 Royalty paid for use of Production patent, Rs 0.5 per unit produced) ? Rent...
The following data is provided for ABC company budgeted overhead for the year is $400,000 projected...
The following data is provided for ABC company budgeted overhead for the year is $400,000 projected direct labor cost for the year -$100,000 eduring tstimated machine hours for the year -20,000 estimated direct labor hours for the year -20,000 overhead is applied to product based on direct labor costs, during the month of june the company incurred 3000 labor hours used 2500 machine hours incurred #30,000 of labor costs and $75,000 of overhead cost calculate a. the overhead cost b....
Rose Company has a relevant range of production between 10,000 and 25,000 units. The following cost...
Rose Company has a relevant range of production between 10,000 and 25,000 units. The following cost data represents average cost per unit for 15,000 units of production. Average Cost per Unit Direct Materials $13           Direct Labor 10           Indirect Materials 1           Fixed manufacturing overhead 5           Variable manufacturing overhead 2           Fixed selling and administrative expenses 8           Variable sales commissions 25           Using the cost data from Rose Company, answer the following questions: A. If 10,000 units are produced, what is the variable cost...
The Allman Brothers Company uses normal costing. The company began operations at the beginning of Year...
The Allman Brothers Company uses normal costing. The company began operations at the beginning of Year 1. During Year 1, the company produced 18,000 units and sold 15,000 units. In Year 2, the company produced 21,000 units and sold 22,000 units. The company charged overhead to production on the basis of units (like the class example). The denominator level for both Year 1 and Year 2 was 20,000 units. For both years, the budgeted variable overhead was $50,000 and the...
For the current year, Nguyen Inc., had sales of 75,000 units and production of 100,000 units....
For the current year, Nguyen Inc., had sales of 75,000 units and production of 100,000 units. Assume the production volume variance is written-off to other expense at the end of the period. Information for the year included: (8) Carry unit cost calculations to 3 decimal places. Direct manufacturing labour                       $187,500 Variable manufacturing overhead                 100,000 Direct materials                                           150,000 Variable selling expenses                            100,000 Fixed administrative expenses                     100,000 Fixed manufacturing overhead                     200,000 There was no beginning inventory. a. Calculate the unit cost under...
The data related to Shunda Enterprises Inc.’s factory overhead cost for the production of 20,000 units...
The data related to Shunda Enterprises Inc.’s factory overhead cost for the production of 20,000 units of product are as follows: Actual: Variable factory overhead $104,000 Fixed factory overhead 74,500 Standard: 30,000 hrs. at $6 ($3.50 for variable factory overhead) 180,000 Productive capacity at 100% of normal was 29,100 hours, and the factory overhead cost budgeted at the level of 30,000 standard hours was $178,900. Based on these data, the chief cost accountant prepared the following variance analysis: Variable factory...
HDMI applies overhead on the basis of units produced. HDMI provided the following information for the...
HDMI applies overhead on the basis of units produced. HDMI provided the following information for the current year Budgeted Overhead                  385,000 Actual Overhead                       430,000 Actual Labor Hours                   30,000 Actual # of units sold                 620,000 Underapplied Overhead             15,000 Budgeted Production Units        660,000 How many units were produced during the current year?
A company's planned activity level for next year is expected to be 100,000 machine hours. At...
A company's planned activity level for next year is expected to be 100,000 machine hours. At this level of activity, the company budgeted the following manufacturing overhead costs: Variable Fixed Indirect materials $140,000 Depreciation $60,000 Indirect labor 200,000 Taxes 10,000 Factory supplies 20,000 Supervision 50,000 A flexible budget prepared at the 80,000 machine hours level of activity would show total manufacturing overhead costs of
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT