Question

1. Direct materials were $3 per unit, Direct labor was $2 per unit, variable overhead was...

1. Direct materials were $3 per unit, Direct labor was $2 per unit, variable overhead was $1. Fixed costs were $1000. On a piece of scrap paper do a flexible budget for 1000 and 1500 units.

Budgeted variable overhead for 1000 units is

Total cost for 1000 units is

Total costs for 1500 units is

Direct labor for 1500 units is

A. 1000

B. some other number

C. $10,000

D. $7000

E. $3000

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Flexible Budget

Flexible budget

Flexible budget at

variable Amount per Unit

Total Fixed cost

1000 Units

1500 Units

Variable costs

Direct material

$       3.00

$ 3,000.00

$ 4,500.00

Direct Labor

$       2.00

$ 2,000.00

$ 3,000.00

Variable overhead

$       1.00

$ 1,000.00

$ 1,500.00

Total Variable Costs

$       6.00

$ 6,000.00

$ 9,000.00

Contribution margin

Fixed Costs

$ 1,000.00

$ 1,000.00

$ 1,000.00

Budgeted variable overhead for 1000 units is $1,000

Total cost for 1000 units is $7,000

Total costs for 1500 units is $ 10,000

Direct labor for 1500 units is $3,000.
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
Pets Plus Company has the following budgeted variable costs per unit produced: Direct Materials $8.00 Direct...
Pets Plus Company has the following budgeted variable costs per unit produced: Direct Materials $8.00 Direct Labor $1.77 Variable Overhead:       Supplies $0.41       Maintenance $0.33       Power $0.26 Budgeted fixed overhead costs per month include supervision of $85,000, depreciation of $82,000, and other overhead of $256,000. Required: a. Prepare a flexible budget for all costs of production for the following levels of production: 130,000 units, 145,000 units, and 150,000 units. (5 points)
1) Determining Budgeted Overhead The overhead application rate for a company is $12 per unit, made...
1) Determining Budgeted Overhead The overhead application rate for a company is $12 per unit, made up of $7 per unit of fixed overhead and $5 per unit of variable over- head. Normal capacity is 10,000 units. In one month, there was a favorable flexible budget variance of $2,500. Actual overhead for the month was $110,000 and actual units produced were 15,125. Based on this information, determine the amount of the budgeted overhead for the actual level of production. 2)...
Direct Materials, Direct Labor, and Reports budgeted and actual costs for variable and fixed factory overhead...
Direct Materials, Direct Labor, and Reports budgeted and actual costs for variable and fixed factory overhead along with the related controllable and volume variances.Factory Overhead Cost Variance Analysis Mackinaw Inc. processes a base chemical into plastic. A detailed estimate of what a product should cost.Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 6,800 units of product were as follows: Standard Costs Actual Costs Direct materials 8,800 lb. at $4.90 8,700...
Prepare the sales budget, production budget, direct materials budget, direct labor budget, manufacturing overhead budget, SGA...
Prepare the sales budget, production budget, direct materials budget, direct labor budget, manufacturing overhead budget, SGA budget, and budgeted income statement for ABC Company for the year, given the following information: ABC expects to sell 10,000 units for the year at $175 per unit. ABC Company begins the year with 2,000 units and desires ending inventory of 7,000 units. To produce 1 unit, it takes the following: DIRECT MATERIALS: To produce 1 unit: 10 pounds Waste per unit: 1 pound...
Jax's production costs - Direct Labor                $           5.00 per unit        &nbs
Jax's production costs - Direct Labor                $           5.00 per unit              15 minutes of labor Raw Materials             $         12.00 per unit              2 pounds of raw material Variable Overhead $ 2.50 per unit                50% of direct labor cost Fixed Overhead $ 100,000 1. Assume that the company is planning on producing 100,000 units of Jax next month. Prepare the production cost budget for this product. 2. The company produced only 98,000 units of ABC and incurred the following actual costs: Direct labor...
Grand-cola spends $3 on direct materials, direct labor, and variable manufacturing overhead for every unit (12-pack...
Grand-cola spends $3 on direct materials, direct labor, and variable manufacturing overhead for every unit (12-pack of soda) it produces. Fixed manufacturing overhead costs $3million per year. The plant, which is currently operating at only 80 % of capacity, produced 15 million units this year. Management plans to operate closer to full capacity next year, producing 25 million units. Management doesn't anticipate any changes in the prices it pays for materials, labor, and manufacturing overhead. 1. What is the current...
1. Using the standard costs of $5 per pound for a 10 pound bag of chocolate...
1. Using the standard costs of $5 per pound for a 10 pound bag of chocolate and the following actual cost and data, compute the direct materials price variance if the standard quantity was 10 pounds per unit. Direct materials purchased and used    99,000 pounds Price paid for direct materials $4.00 per pound Number of good units produced    9000 units $99,000 (Favorable) $45,000 (unfavorable) $54,000 (Favorable) $45,000 (favorable) 2. Johs company had $220,000 in invested assets, sales of...
The Brown Manufacturing​ Company's costing system has two​ direct-cost categories: direct materials and direct manufacturing labor....
The Brown Manufacturing​ Company's costing system has two​ direct-cost categories: direct materials and direct manufacturing labor. Manufacturing overhead​ (both variable and​ fixed) is allocated to products on the basis of standard direct manufacturing labor hours​ (DLH). At the beginning of 2014 Brown adopted the following standards for its manufacturing​ costs:  Direct materials 3 lbs. at $4 per lb. $12.00 Direct manufacturing labor 4 hrs. at $20 per hr. 80.00 Manufacturing overhead: Variable $6 per DLH 24.00 Fixed $7 per DLH...
Eucalyptus Company has the following budgeted variable costs per unit produced: Direct materials $0.35 Direct labor...
Eucalyptus Company has the following budgeted variable costs per unit produced: Direct materials $0.35 Direct labor $0.28 Variable overhead: Supplies $0.04 Indirect labor $0.09 Power $0.03 Budgeted fixed overheads per quarter include rent of $25,000 and depreciation of $150,000. Calculate the cost of production at the activity level of 2,200,000 units. a.$1,913,000 b.$1,924,000 c.$1,865,000 d.$1,891,000
Using the following per-unit and total amounts, prepare a flexible budget at the 12,000 unit, and...
Using the following per-unit and total amounts, prepare a flexible budget at the 12,000 unit, and 14,000 unit levels of production and sales for Earthen Products Inc.: Selling price per unit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 75.00 Direct materials per unit . . . . ....
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT