Question

​Bulldog, Inc. has budgeted sales for the first quarter of the next year to be 35,000...

​Bulldog, Inc. has budgeted sales for the first quarter of the next year to be 35,000 units. The inventory on hand at the beginning of quarter is 10,000 units. The desired ending inventory is 1,000 units. Calculate the budgeted production for the first quarter.

A. 26,000 units

B. 25,000 units

C. 36,000 units

D. 1,000 units

Meridian Fashions uses standard costs for their manufacturing division. The allocation base for overhead costs is direct labor hours. From the following​ data, calculate the fixed overhead cost variance.  

Actual fixed overhead

$40,000

Budgeted fixed overhead

$24,000

Standard overhead allocation rate

$7

Standard direct labor hours per unit

3 DLHr

Actual output

2,100 units

A. $16,000 F

B. $20,100 U

C. $16,000 U

D. $20,100. F

Alphonse Company manufactures staplers. The budgeted sales price is $12.00 per​ stapler, the variable costs are $2.00 per​ stapler, and budgeted fixed costs are $10,000. What is the budgeted operating income for 4,700 ​staplers?

A. $56,400

B. $37,000

C. $47,000

D. $9,400

The budgeted production of​ Capricorn, Inc. is 8,000 units per month. Each unit requires 30 minutes of direct labor to complete. The direct labor rate is $90.00 per hour. Calculate the budgeted cost of direct labor for the month.​ (Round any intermediate calculations to the nearest cent and your final answer to the nearest​ dollar.)

A. $360,000.00

B. $720,000.00

C. $120,000.00

D. $24,000.00

A company is setting its direct materials and direct labor standards for its leading product. Direct material costs from the supplier are $5.00 per square​ foot, net of purchase discount. Freight−in amounts to $0.30 per square foot. The basic wages of the assembly line personnel are $19.00 per hour. Payroll taxes are approximately 23​% of wages. How much is the direct labor cost standard per​ hour? (Round your answer to the nearest​ cent.)

A. $4.37

B. $19.00

C. $28.37

D. $23.37

Homework Answers

Answer #1

1. A. 26,000 units

Explaination:

Budgeted sales+ closing inventory- opening inventory= Budgeted production

35,000+1,000-10,000=26,000

2. C. $16,000 U

Explaination:

Standard overhead= 2100 units*3hrs*$7 per DL hr= 44100

Budgeted fixed overhead= $24000

Actual fixed overhead= $40000

Therefore, Fixed overhead variance= 24000-40000= $16000 U

3. B. $37,000

Explaination:

No. of staplers (sales price- variale cost)- fixed cost= net operating income

4,700(12-2)-10,000= 37000

4. A. $360,000

Explaination:

Total units* time taken per unit* rate per labour hr

{(8,000*30/60)*90}= 360000

5. B. $19.00

Direct labour hr will be equal to basic wages since inclusive of tax

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Sharp Company manufacturers jeans. In June, Sharp made 1200 pairs of jeans, but had budgeted production...
Sharp Company manufacturers jeans. In June, Sharp made 1200 pairs of jeans, but had budgeted production at 1400 pairs of jeans. The allocation base for overhead costs is direct labor hours. The following additional data is available for the month: Variable overhead cost standard $0.60 per DLHr Direct labor efficiency standard 2.00 DLHr per jean Actual amount of direct labor hours 2520 DLHr Actual cost of variable overhead $1512 Fixed overhead cost standard $0.25 per DLHr Budgeted fixed overhead $700...
Ionic Co. has the following budgeted product costs for each month of the last quarter of...
Ionic Co. has the following budgeted product costs for each month of the last quarter of 2020. The budgeted costs were based on an expected monthly volume of 1,500 units. The budgeted per unit costs are: Direct materials: $1.50 Direct labour: $2.25 Variable overhead: $4.25 Fixed overhead: $3.00 Total per unit costs: $11.00 In December, Ionic expects to produce 2,000 units. The total budgeted costs for December should be: Question 10 options: $22,000 $16,000 $20,500 $16,500
EXERCISE 8–5 Manufacturing Overhead Budget LO8–6 The direct labor budget of Yuvwell Corporation for the upcoming...
EXERCISE 8–5 Manufacturing Overhead Budget LO8–6 The direct labor budget of Yuvwell Corporation for the upcoming fiscal year contains the follow- ing details concerning budgeted direct labor-hours: 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Budgeted direct labor-hours . . . . . . . . 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 manu- facturing...
All budgeted overhead costs, except for budgeted fixed overhead, are shown. 3rd Quarter 4th quarter Budgeted...
All budgeted overhead costs, except for budgeted fixed overhead, are shown. 3rd Quarter 4th quarter Budgeted units of production 6,000 7,500 Budgeted variable overhead costs 15,000 18,750 Budgeted fixed overhead costs ? ? Budgeted amortization including in total overhead 3,000 3,000 Budgeted cash disbursements for total overhead 20,000 23,750 1. a) What is the amount of budgeted fixed overhead? a.     $8,000 b.     $6,000 c.     $9,000 d.     $3,000 b) Explain why and how it is calculated for the 1st and 2nd...
Preparing an Overhead Budget Patrick Inc. makes industrial solvents. Budgeted direct labor hours for the first...
Preparing an Overhead Budget Patrick Inc. makes industrial solvents. Budgeted direct labor hours for the first 3 months of the coming year are: January 13,140 February 12,300 March 15,075 The variable overhead rate is $0.70 per direct labor hour. Fixed overhead is budgeted at $2,890 per month. Required: Prepare an overhead budget for the months of January, February, and March, as well as the total for the first quarter. Do not include a multiplication symbol as part of your answer....
Innovation Inc.'s production budget for January is 35,000 units and includes the following component unit costs:...
Innovation Inc.'s production budget for January is 35,000 units and includes the following component unit costs: direct materials, $16; direct labor, $20; variable overhead, $12. Budgeted fixed overhead is $70,000 (35,000 units × 1/2hour × $4unit). Actual production in January was 36,000 units. Actual unit component costs incurred during January include direct materials, $16.50; direct labor, $18.90; variable overhead, $13.64. Actual fixed overhead was $67,000. The standard fixed overhead application rate per unit consists of $4 per machine hour and...
The direct labor budget of Yuvwell Corporation for the upcoming fiscal year contains the following details...
The direct labor budget of Yuvwell Corporation for the upcoming fiscal year contains the following details concerning budgeted direct labor-hours: 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Budgeted direct labor-hours 9,600 9,000 9,300 10,100 The company uses direct labor-hours as its overhead allocation base. The variable portion of its predetermined manufacturing overhead rate is $4.00 per direct labor-hour and its total fixed manufacturing overhead is $64,000 per quarter. The only noncash item included in fixed manufacturing overhead is depreciation,...
Sullivan Company is preparing its Manufacturing Overhead budget for the second quarter of the year. Budgeted...
Sullivan Company is preparing its Manufacturing Overhead budget for the second quarter of the year. Budgeted variable factory overhead is $3.00 per unit produced; budgeted fixed factory overhead is $75,000 per month, with $16,000 of this amount being factory depreciation. Refer to Sullivan Company. If the budgeted production for April is 6,000 units, then the total budgeted factory overhead for April is: A. $82,000 B. $93,000 C. $85,000 D. $77,000
Smithson Company manufactures shirts. During June, Smithson made 1,100 shirts but had budgeted production at 1,250...
Smithson Company manufactures shirts. During June, Smithson made 1,100 shirts but had budgeted production at 1,250 shirts. Smithson gathered the following additional data: Variable overhead cost standard: $0.20 per DLHr Direct labor efficiency standard: 7.50 DLHr per shirt Actual amount of direct labor hours: 8,340 DLHr Actual cost of variable overhead: $4,170 Fixed overhead cost standard: $0.15 per DLHr Budgeted fixed overhead: $1,406 Actual cost of fixed overhead: $1,531 13.) Calculate the variable overhead cost variance. Select the formula from...
The total factory overhead for Bardot Marine Company is budgeted for the year at $833,250, divided...
The total factory overhead for Bardot Marine Company is budgeted for the year at $833,250, divided into two departments: Fabrication, $660,000, and Assembly, $173,250. Bardot Marine manufactures two types of boats: speedboats and bass boats. The speedboats require two direct labor hours in Fabrication and one direct labor hour in Assembly. The bass boats require four direct labor hours in Fabrication and two direct labor hours in Assembly. Each product is budgeted for 5,500 units of production for the year....
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT