Homework Answers
Solution
| MCO LEATHER | ||
| Direct Materials Budget | ||
| For the Months of September and October | ||
| September | October | |
| Budgeted production (units) | 4600 | 6700 |
| Materials requirements per unit (lbs.) | 3 | 3 |
| Materials needed for production (lbs.) | 13800 | 20100 |
| Budgeted ending inventory (lbs.) | 6030 | 5400 |
| Total materials requirements (lbs.) | 19830 | 25500 |
| Budgeted beginning inventory (lbs.) | 4580 | 6030 |
| Materials to be purchased (lbs.) | 15250 | 19470 |
| Direct material cost per lb. | $ 4.00 | $ 4.00 |
| Total budgeted direct materials | $ 61,000.00 | $ 77,880.00 |
.
| MCO LEATHER | ||
| Direct Labor Budget | ||
| For the Months of September and October | ||
| September | October | |
| Budgeted production (units) | 4600 | 6700 |
| DL hours required per unit | 0.7 | 0.7 |
| Total direct labor hours needed | 3220 | 4690 |
| Direct labor rate per hour | $ 15.00 | $ 15.00 |
| Total budgeted direct labor | $ 48,300.00 | $ 70,350.00 |
.
| MCO LEATHER | ||
| Factory Overhead Budget | ||
| For the Months of September and October | ||
| September | October | |
| Total direct labor hours needed | 3220 | 4690 |
| VOH rate per DL hour | $ 2.00 | $ 2.00 |
| Budgeted variable overhead | $ 6,440.00 | $ 9,380.00 |
| Budgeted fixed overhead | $ 14,000.00 | $ 14,000.00 |
| Total budgeted factory overhead | $ 20,440.00 | $ 23,380.00 |
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Check my work 2 Exercise 20-15 Manufacturing: Direct materials, direct labor, and overhead budgets LO P1...
Exercise 20-15 Manufacturing: Direct materials, direct labor, and overhead budgets LO P1 MCO Leather Goods manufactures...
Exercise 20-15 Manufacturing: Direct materials, direct labor, and overhead budgets LO P1 MCO Leather Goods manufactures leather purses. Each purse requires 2 pounds of direct materials at a cost of $5 per pound and 0.7 direct labor hours at a rate of $13 per hour. Variable manufacturing overhead is charged at a rate of $3 per direct labor hour. Fixed manufacturing overhead is $18,000 per month. The company's policy is to end each month with direct materials inventory equal to...
Exercise 20-15 Manufacturing: Direct materials, direct labor, and overhead budgets LO P1 MCO Lesther Goods manufactures...
Exercise 20-15 Manufacturing: Direct materials, direct labor, and overhead budgets LO P1 MCO Lesther Goods manufactures les her purses. Each purse requires 3 pounds of direct materials at a cost of $3 per pound and 0.7 direct labor hours at a rate of $20 per hout. Variable manufacturing overhead is charged at a rate of $2 per direct labor hour. Pred manufacturing overhead is $11,000 per month. The company's policy is to end each month with direct materials inventory equal...
MCO Leather manufactures leather purses. Each purse requires 3 pounds of direct materials at a cost...
MCO Leather manufactures leather purses. Each purse requires 3 pounds of direct materials at a cost of $4 per pound and 0.7 direct labor hours at a rate of $19 per hour. Variable manufacturing overhead is charged at a rate of $3 per direct labor hour. Fixed manufacturing overhead is $19,000 per month. The company's policy is to end each month with direct materials inventory equal to 40% of the next month's materials requirement. At the end of August the...
MCO Leather Goods manufactures leather purses. Each purse requires 2 pounds of direct materials at a...
MCO Leather Goods manufactures leather purses. Each purse requires 2 pounds of direct materials at a cost of $4 per pound and 0.7 direct labor hours at a rate of $19 per hour. Variable manufacturing overhead is charged at a rate of $3 per direct labor hour. Fixed manufacturing overhead is $16,000 per month. The company's policy is to end each month with direct materials inventory equal to 20% of the next month's materials requirement. At the end of August...
MCO Leather manufactures leather purses. Each purse requires 3 pounds of direct materials at a cost...
MCO Leather manufactures leather purses. Each purse requires 3
pounds of direct materials at a cost of $4 per pound and 0.7 direct
labor hours at a rate of $13 per hour. Variable manufacturing
overhead is charged at a rate of $3 per direct labor hour. Fixed
manufacturing overhead is $17,000 per month. The company’s policy
is to end each month with direct materials inventory equal to 20%
of the next month’s materials requirement. At the end of August the...
MCO Leather manufactures leather purses. Each purse requires 3 pounds of direct materials at a cost...
MCO Leather manufactures leather purses. Each purse requires 3 pounds of direct materials at a cost of $4 per pound and 07 direct labor hours at a rate of $12 per hour. Variable manufacturing overhead is charged at a rate of $3 per direct labor hour. Fixed manufacturing overhead is $18,000 per month. The company's policy is to end each month with direct materials inventory equal to 40% of the next month's materials requirement. At the end of August the...
MCO Leather Goods manufactures leather purses. Each purse requires 3 pounds of direct materials at a...
MCO Leather Goods manufactures leather purses.
Each purse requires 3 pounds of direct materials at a cost of $4
per pound and 0.7 direct labor hours at a rate of $17 per hour.
Variable manufacturing overhead is charged at a rate of $3 per
direct labor hour. Fixed manufacturing overhead is $20,000 per
month. The company’s policy is to end each month with direct
materials inventory equal to 30% of the next month’s materials
requirement. At the end of August...
MCO Leather manufactures leather purses. Each purse requires 3 pounds of direct materials at a cost...
MCO Leather manufactures leather purses. Each purse requires 3 pounds of direct materials at a cost of $5 per pound and 0.7 direct labor hours at a rate of $18 per hour. Variable manufacturing overhead is charged at a rate of $2 per direct labor hour. Fixed manufacturing overhead is $10,000 per month. The company's policy is to end each month with direct materials inventory equal to 30% of the next month's materials requirement. At the end of August the...
HOW DO I CALCULATE? MCO Leather manufactures leather purses. Each purse requires 3 pounds of direct...
HOW DO I CALCULATE?
MCO Leather manufactures leather purses. Each purse requires 3 pounds of direct materials at a cost of $4 per pound and 0.7 direct labor hours at a rate of $10 per hour. Variable manufacturing overhead is charged at a rate of $2 per direct labor hour. Fixed manufacturing overhead is $16,000 per month. The company's policy is to end each month with direct materials inventory equal to 20% of the next month's materials requirement. At the...
MCO Leather manufactures leather purses. Each purse requires 2 pounds of direct materials at a cost...
MCO Leather manufactures leather purses. Each purse requires 2 pounds of direct materials at a cost of $3 per pound and 0.7 direct te of $18 per hour. Variable manufacturing overhead is charged at a rate of $2 per direct labor hour. Fixed manufacturing overhead is $15,000 per month. The company's policy is to end each month with direct materials inventory equal to 30% of the next month's materials requirement. At the end of August the company had 3,080 pounds...
Exercise 20-15 Manufacturing: Direct materials, direct labor, and overhead budgets LO P1 MCO Leather Goods manufactures leather purses. Each purse requires 2 pounds of direct materials at a cost of $5 per pound and 0.7 direct labor hours at a rate of $13 per hour. Variable manufacturing overhead is charged at a rate of $3 per direct labor hour. Fixed manufacturing overhead is $18,000 per month. The company's policy is to end each month with direct materials inventory equal to...
Exercise 20-15 Manufacturing: Direct materials, direct labor, and overhead budgets LO P1 MCO Lesther Goods manufactures les her purses. Each purse requires 3 pounds of direct materials at a cost of $3 per pound and 0.7 direct labor hours at a rate of $20 per hout. Variable manufacturing overhead is charged at a rate of $2 per direct labor hour. Pred manufacturing overhead is $11,000 per month. The company's policy is to end each month with direct materials inventory equal...
MCO Leather manufactures leather purses. Each purse requires 3 pounds of direct materials at a cost of $4 per pound and 0.7 direct labor hours at a rate of $19 per hour. Variable manufacturing overhead is charged at a rate of $3 per direct labor hour. Fixed manufacturing overhead is $19,000 per month. The company's policy is to end each month with direct materials inventory equal to 40% of the next month's materials requirement. At the end of August the...
MCO Leather Goods manufactures leather purses. Each purse requires 2 pounds of direct materials at a cost of $4 per pound and 0.7 direct labor hours at a rate of $19 per hour. Variable manufacturing overhead is charged at a rate of $3 per direct labor hour. Fixed manufacturing overhead is $16,000 per month. The company's policy is to end each month with direct materials inventory equal to 20% of the next month's materials requirement. At the end of August...
MCO Leather manufactures leather purses. Each purse requires 3
pounds of direct materials at a cost of $4 per pound and 0.7 direct
labor hours at a rate of $13 per hour. Variable manufacturing
overhead is charged at a rate of $3 per direct labor hour. Fixed
manufacturing overhead is $17,000 per month. The company’s policy
is to end each month with direct materials inventory equal to 20%
of the next month’s materials requirement. At the end of August the...
MCO Leather manufactures leather purses. Each purse requires 3 pounds of direct materials at a cost of $4 per pound and 07 direct labor hours at a rate of $12 per hour. Variable manufacturing overhead is charged at a rate of $3 per direct labor hour. Fixed manufacturing overhead is $18,000 per month. The company's policy is to end each month with direct materials inventory equal to 40% of the next month's materials requirement. At the end of August the...
MCO Leather Goods manufactures leather purses.
Each purse requires 3 pounds of direct materials at a cost of $4
per pound and 0.7 direct labor hours at a rate of $17 per hour.
Variable manufacturing overhead is charged at a rate of $3 per
direct labor hour. Fixed manufacturing overhead is $20,000 per
month. The company’s policy is to end each month with direct
materials inventory equal to 30% of the next month’s materials
requirement. At the end of August...
MCO Leather manufactures leather purses. Each purse requires 3 pounds of direct materials at a cost of $5 per pound and 0.7 direct labor hours at a rate of $18 per hour. Variable manufacturing overhead is charged at a rate of $2 per direct labor hour. Fixed manufacturing overhead is $10,000 per month. The company's policy is to end each month with direct materials inventory equal to 30% of the next month's materials requirement. At the end of August the...
HOW DO I CALCULATE?
MCO Leather manufactures leather purses. Each purse requires 3 pounds of direct materials at a cost of $4 per pound and 0.7 direct labor hours at a rate of $10 per hour. Variable manufacturing overhead is charged at a rate of $2 per direct labor hour. Fixed manufacturing overhead is $16,000 per month. The company's policy is to end each month with direct materials inventory equal to 20% of the next month's materials requirement. At the...
MCO Leather manufactures leather purses. Each purse requires 2 pounds of direct materials at a cost of $3 per pound and 0.7 direct te of $18 per hour. Variable manufacturing overhead is charged at a rate of $2 per direct labor hour. Fixed manufacturing overhead is $15,000 per month. The company's policy is to end each month with direct materials inventory equal to 30% of the next month's materials requirement. At the end of August the company had 3,080 pounds...
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