ZuoTi.Pro
Question

Preparing an Overhead Budget Patrick Inc makes industrial solvent e d rector hours for the months The variable overhead ate i
Patrick Inc. Overhead Budget For the Coming First Quarter Total February March Overhead: January Total direct labor hrs Varia
business   accounting   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

Answer-

PATRICK INC.
OVERHEAD BUDGET
FOR THE COMING FIRST QUARTER
PARTICULARS JANUARY FEBRUARY MARCH TOTAL
$ $ $ $
Total direct labor hours (a) 13140 12300 15075 40515
Variable overhead rate (b) $0.75 per direct labor hour $0.75 per direct labor hour $0.75 per direct labor hour $0.75 per direct labor hour
Total variable overhead (c=a*b) 9855 9225 11306 30386
Add- Fixed overhead 2860 2860 2860 8580
Total Overhead 12715 12085 14166 38966
0 0
Add a comment
Know the answer?
Add Answer to:
Preparing an Overhead Budget Patrick Inc makes industrial solvent e d rector hours for the months...
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. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • Preparing a Direct Labor Budget Patrick Inc. makes industrial solvents. Planned production in units for the first three...

    Preparing a Direct Labor Budget Patrick Inc. makes industrial solvents. Planned production in units for the first three months of the coming year is: January 45,000 February 55,000 March 65,000 Each drum of industrial solvent takes 0.3 direct labor hours. The average wage is $17.50 per hour. Required: Prepare a direct labor 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...

  • Preparing a Sales Budget Patrick Inc. sells industrial solvents in 5-gallon drums. Patrick expects the following...

    Preparing a Sales Budget Patrick Inc. sells industrial solvents in 5-gallon drums. Patrick expects the following units to be sold in the first 3 months of the coming year: 41,000 January February 38,000 50,000 March The average price for a drum is $42. Required: Prepare a sales budget for the first 3 months of the coming year, showing units and sales revenue by month and in total for the quarter. Do not include a multiplication symbol as part of your...

  • Preparing a Production Budget Patrick Inc, makes industrial solvents. In the first months of the coming...

    Preparing a Production Budget Patrick Inc, makes industrial solvents. In the first months of the coming year Patrick expects the following unit sales: January 41.000 February 38.000 March 50.000 April $1,000 Patrick's policy is to have 23% of next months sales in ending inventory On January 1it is expected that there will be 4.550 drums April Patride's policy is to have 23 of next month's sales in ending inventory. On January 1, it is expected that there will be 4,550...

  • Part 1 Patrick Inc. sells industrial solvents in 5-gallon drums. Patrick expects the following units to...

    Part 1 Patrick Inc. sells industrial solvents in 5-gallon drums. Patrick expects the following units to be sold in the first 3 months of the coming year: January 41,000 February 38,000 March 50,000 The average price for a drum is $43. Required: Prepare a sales budget for the first 3 months of the coming year, showing units and sales revenue by month and in total for the quarter. Do not include a multiplication symbol as part of your answer. Patrick...

  • reparing a Direct Labor Budget atrick Inc. makes industrial solvents. Planned production in units for the...

    reparing a Direct Labor Budget atrick Inc. makes industrial solvents. Planned production in units for the first three months of the coming year is: Banuary 45,000 February 50,000 March 60,000 Each drum of industrial solvent takes 0.3 direct labor hours. The average wWage is $17.80 per hour Required Prepare a direct labor budget for the months of January, February, and March, as well as the total for the first quarter. Do not include a mutiplication symbol as part of your...

  • Patrick Inc. makes industrial solvents. In the first 4 months of the coming year, Patrick expects...

    Patrick Inc. makes industrial solvents. In the first 4 months of the coming year, Patrick expects the following unit sales: January 41,000 February 38,000 March 50,000 April 51,000 Patrick's policy is to have 20% of next month's sales in ending inventory. On January 1, it is expected that there will be 4,700 drums of solvent on hand. Required: Prepare a production budget for the first quarter of the year. Show the number of drums that should be produced each month...

  • assighments&takeAssignmentSessionLocator-assignment-take&inprogres.... Calculator Preparing a Direct Labour Budget Selva Inc. makes keyboards for tablets. Planned production in...

    assighments&takeAssignmentSessionLocator-assignment-take&inprogres.... Calculator Preparing a Direct Labour Budget Selva Inc. makes keyboards for tablets. Planned production in units for the first three months of the coming year is: January 45,000 February 50,000 March 60,000 Each crate of industrial solvent takes 0.3 direct labour hours. The average wage is $17.70 per hour Required: Prepare a direct labour 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...

  • Preparing a Direct Materials Purchases Budget Patrick Inc. makes industrial solvents sold in 5-gallon drum containers....

    Preparing a Direct Materials Purchases Budget Patrick Inc. makes industrial solvents sold in 5-gallon drum containers. Planned production in units for the first 3 months of the coming year is: January 45,000 February 50,000 March 60,000 Each drum requires 6 gallons of chemicals and one plastic drum container. Company policy requires that ending inventories of raw materials for each month be 20% of the next month's production needs. That policy was met for the ending inventory of December in the...

  • Budgeted income statement and supporting budgets for three months Bellaire Inc. gathered the following data for...

    Budgeted income statement and supporting budgets for three months Bellaire Inc. gathered the following data for use in developing the budgets for the first quarter (January, February, March) of its fiscal year: a. Estimated sales at $125 per unit: January 25,000 units February 30,000 units March 45,000 units April 50,000 units b. Estimated finished goods inventories: January 1 2,000 units January 31 10% of next month’s sales February 28 10% of next month’s sales March 31 10% of next month’s...

  • Budgeted income statement and supporting budgets for three months Bellaire Inc. gathered the following data for...

    Budgeted income statement and supporting budgets for three months Bellaire Inc. gathered the following data for use in developing the budgets for the first quarter (January, February, March) of its fiscal year: a. Estimated sales at $125 per unit: January 25,000 units February 30,000 units March 45,000 units April 50,000 units b. Estimated finished goods inventories: January 1 2,000 units January 31 10% of next month’s sales February 28 10% of next month’s sales March 31 10% of next month’s...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT