5. NM Company estimate the following cost of the coming month: Overhead (Indirect costs) to direct...
5. NM Company estimate the following cost of the coming month:
Overhead (Indirect costs) to direct labor ratio: 60%
Direct Material to total costs ratio: 20%
Estimated total costs: $100,000
Find the direct labor costs:
a. $20k
b. $30k
c. $50k
d. $70k
e. $80k
6. Imposed budgets are when senior managers set performance goals by consulting the individuals who will be responsible for meeting those goals.
True of False
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5. NM Company estimate the following cost of the coming
month:
Overhead (Indirect costs) to direct...
NM company estimates the following costs for the coming month: Overhead (indirect costs) to direct labor...
NM company estimates the following costs for the coming month: Overhead (indirect costs) to direct labor ratio 60% Direct material to total costs ratio 20% Estimated total costs $100,000 Find Direct labor costs 1. $20,000.00 2. $30,000.00 3. $50,000.00 4. $70,000.00 5. $80,000.00
NM company estimates the following costs for the coming month Variable overhead to direct labor ratio...
NM company estimates the following costs for the coming month Variable overhead to direct labor ratio Fixed overhead costs Direct material to total costs ratio Estimated total costs Find variable overhead costs 60% $10,000 20% $100,000 O 1. Between 25,000.00 and $30,000.00 2. Between $38,000.00 and $44,000.00 3. Between $48,000.00 and $51.000.00 4. Between $58,000.00 and $62.000.00 ●ラ Moving to another question will save this response.
A company has identified the following overhead costs and cost drivers for the coming year: (CIA...
A company has identified the following overhead costs and cost drivers for the coming year: (CIA adapted) Overhead Item Machine setup Inspection Material handling Engineering Cost Driver Budgeted Cost Number of setups $ 20,000 Number of inspections 130,000 Number of material moves 80,000 Engineering hours 50,000 Budgeted Activity Level 200 6,500 8,000 1,000 Budgeted direct labor cost was $100,000 and budgeted direct material cost was $280,000. The following Information was collected on three jobs that were completed during the year:...
Current Attempt in Progress Frinut Company estimates the following overhead costs for the coming year: Equipment...
Current Attempt in Progress Frinut Company estimates the following overhead costs for the coming year: Equipment depreciation Equipment maintenance Supervisory salaries Factory rent Total $250,000 50,000 20,000 100,000 $420,000 Frinut budgeted $600,000 in direct labor costs and 14,000 machine hours for the coming year. (a) Calculate the predetermined overhead rate using direct labor costs as the allocation base. (Round answer to 2 decimal places, e.g. 15.25.) Predetermined overhead rate $ per direct labor Save for Later Attempts: 0 of 1...
A company has identified the following overhead costs and cost drivers for the coming year: ...
A company has identified the following overhead costs and cost drivers for the coming year: Budgeted Overhead Item Cost Driver Budgeted Cost Activity Level Machine setup Number of setups $ 12,000 150 Inspection Number of inspections 85,000 4,250 Material handling Number of material moves 66,000 5,500 Engineering Engineering hours 11,000 550 Budgeted direct labor cost was $87,000 and budgeted direct material cost was $241,600. The following information was collected on...
Problem Question Chapter 2-6 Points The following data is available for a manufacturing company: Indirect materials...
Problem Question Chapter 2-6 Points The following data is available for a manufacturing company: Indirect materials used: Indirect labor wages: Factory utilities: Rent for administration building: Lease payments for manufacturing facilities: Factory supervisor salary: Sales manager salary: Office supplies: $5,000 $36,000 $1,500 $3,500 $10,500 $10,000 $20,000 $500 What is the total amount of manufacturing overhead for the period? PLEASE SHOW ALL CALCULATIONS TO RECEIVE FULL CREDIT Problem Question Chapter 3-10 Points Homestead Company anticipates that they will Incur the following...
Wachowski Company reported the following cost data for the year 2017. Factory maintenance costs $90,000 Direct...
Wachowski Company reported the following cost data for the year 2017. Factory maintenance costs $90,000 Direct labor, wages 351,000 Direct labor, health insurance 31,000 Indirect labor, health insurance 16,000 Health insurance for production supervisor 6,500 Administrative costs 55,000 Rental of office space for administrative staff 17,500 Sales commissions 52,500 Direct material 1,240,000 Indirect materials 633,000 Advertising expense 39,000 Depreciation on factory building 63,000 Indirect labor, wages 80,000 Production supervisor's salary 31,000 Use the above cost data to complete the table...
Wachowski Company reported the following cost data for the year 2017. Factory maintenance costs $90,000 Direct...
Wachowski Company reported the following cost data for the year 2017. Factory maintenance costs $90,000 Direct labor, wages 353,000 Direct labor, health insurance 33,000 Indirect labor, health insurance 16,000 Health insurance for production supervisor Administrative costs Rental of office space for administrative staff Sales commissions Direct material 6,500 54,000 18,500 53,000 1,240,000 632,000 39,000 62,000 70,000 32,000 Indirect materials Advertising expense Depreciation on factory building Indirect labor, wages Production supervisor's salary Use the above cost data to complete the table...
The following cost data pertains to ABC Company for the month of December: Direct material used...
The following cost data pertains to ABC Company for the month of December: Direct material used in production Depreciation for factory building Direct labor wages Cost of finished goods, inventory at year-end Indirect labor - wages Production supervisor's salary Product promotion costs Service department costs for manufacturing Sales commissions Administrative costs Rental of sales office space $ 210,000 11,500 58,000 11,500 17,000 5,400 9,900 10,000 500 15,000 1,500 a) b) c) d) e) Compute the total prime costs. Compute the...
Sheffield Company estimates that 337,700 direct labor hours will be worked during the coming year, 2020, in the Packaging Department. On this basis, the following budgeted manufacturing overhead cost data are computed for the year.
Sheffield Company estimates that 337,700 direct labor hours will be worked during the coming year, 2020, in the Packaging Department. On this basis, the following budgeted manufacturing overhead cost data are computed for the year.Fixed Overhead CostsVariable Overhead CostsSupervision$88,200Indirect labor$155,342Depreciation72,000Indirect materials74,294Insurance29,760Repairs67,540Rent24,360Utilities67,540Property taxes13,080Lubricants16,885$227,400$381,601It is estimated that direct labor hours worked each month will range from 21,500 to 29,600 hours.During October, 21,500 direct labor hours were worked and the following overhead costs were incurred.Fixed overhead costs: Supervision $7,350, Depreciation $6,000, Insurance $2,450, Rent $2,030, and Property taxes $1,090.Variable overhead costs: Indirect...
NM company estimates the following costs for the coming month: Overhead (indirect costs) to direct labor ratio 60% Direct material to total costs ratio 20% Estimated total costs $100,000 Find Direct labor costs 1. $20,000.00 2. $30,000.00 3. $50,000.00 4. $70,000.00 5. $80,000.00
NM company estimates the following costs for the coming month Variable overhead to direct labor ratio Fixed overhead costs Direct material to total costs ratio Estimated total costs Find variable overhead costs 60% $10,000 20% $100,000 O 1. Between 25,000.00 and $30,000.00 2. Between $38,000.00 and $44,000.00 3. Between $48,000.00 and $51.000.00 4. Between $58,000.00 and $62.000.00 ●ラ Moving to another question will save this response.
A company has identified the following overhead costs and cost drivers for the coming year: (CIA adapted) Overhead Item Machine setup Inspection Material handling Engineering Cost Driver Budgeted Cost Number of setups $ 20,000 Number of inspections 130,000 Number of material moves 80,000 Engineering hours 50,000 Budgeted Activity Level 200 6,500 8,000 1,000 Budgeted direct labor cost was $100,000 and budgeted direct material cost was $280,000. The following Information was collected on three jobs that were completed during the year:...
Current Attempt in Progress Frinut Company estimates the following overhead costs for the coming year: Equipment depreciation Equipment maintenance Supervisory salaries Factory rent Total $250,000 50,000 20,000 100,000 $420,000 Frinut budgeted $600,000 in direct labor costs and 14,000 machine hours for the coming year. (a) Calculate the predetermined overhead rate using direct labor costs as the allocation base. (Round answer to 2 decimal places, e.g. 15.25.) Predetermined overhead rate $ per direct labor Save for Later Attempts: 0 of 1...
Problem Question Chapter 2-6 Points The following data is available for a manufacturing company: Indirect materials used: Indirect labor wages: Factory utilities: Rent for administration building: Lease payments for manufacturing facilities: Factory supervisor salary: Sales manager salary: Office supplies: $5,000 $36,000 $1,500 $3,500 $10,500 $10,000 $20,000 $500 What is the total amount of manufacturing overhead for the period? PLEASE SHOW ALL CALCULATIONS TO RECEIVE FULL CREDIT Problem Question Chapter 3-10 Points Homestead Company anticipates that they will Incur the following...
Wachowski Company reported the following cost data for the year 2017. Factory maintenance costs $90,000 Direct labor, wages 353,000 Direct labor, health insurance 33,000 Indirect labor, health insurance 16,000 Health insurance for production supervisor Administrative costs Rental of office space for administrative staff Sales commissions Direct material 6,500 54,000 18,500 53,000 1,240,000 632,000 39,000 62,000 70,000 32,000 Indirect materials Advertising expense Depreciation on factory building Indirect labor, wages Production supervisor's salary Use the above cost data to complete the table...
The following cost data pertains to ABC Company for the month of December: Direct material used in production Depreciation for factory building Direct labor wages Cost of finished goods, inventory at year-end Indirect labor - wages Production supervisor's salary Product promotion costs Service department costs for manufacturing Sales commissions Administrative costs Rental of sales office space $ 210,000 11,500 58,000 11,500 17,000 5,400 9,900 10,000 500 15,000 1,500 a) b) c) d) e) Compute the total prime costs. Compute the...
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